Market Prices 575 Manual vs 575 F1 (conversion costs) vs 550?

What a weird 550 we had hammer today on BaT

HERE is the internal thread where guys were commenting off of BaT: https://www.ferrarichat.com/forum/threads/red-euro-550-on-bat.664133/page-2#post-148706856

This auction started as a dumpster fire due to how weird the seller was about the title and lack of smog and how it was titled to an LLC but could and would pass smog (even though it now clearly stated it needed a referee) and guaranteed it able to be titled to a CA individual even without a CARB cert on a federalized import.......and then somehow at the end it evolved into a "positive for the seller almost supernova"...given what the car is....it was bizarre because at least the last three guys that ran the car from $97k to the finish line "felt good" meaning "likely not ghost bidders". Apparently there were three guys in the room today.....this one went really strong.....surprising.....heck, shocking....If this was worth $146k then @root should have gotten $300k for his.

What is really crazy is how it went above one of the recent expertly sold and VERY well presented and extremely well documented "high mile" but in CA legally cars: https://www.ferrarichat.com/forum/posts/148684489/ That 550 had 64.5k miles and hammered for $126k. How today's went to $146k is math I don't understand in comparison?

Here are the deet's:

SOLD at $146,000 on 8/26/22 out of Moorpark, CA
1998 EURO FEDERALIZED 550 ZFFZR49B000112003 and assembly number 29208
+) 29,774 miles NOTED TMU given carfax discrepancy and one hopes it was handled correctly when federalized
+) Rosso Corsa over nero
+) From the posting: delivered new in Germany and subsequently brought to the US, where it was Federalized by Wallace Environmental Testing Labs in 2000
+) shields; daytonas; quilted parcel shelf, Alpine stereo and amp's in trunk; OEM wheels and exhaust
+) LOTS of small cosmetics/chips/etc, poor winshield gaskets, poor headlight gaskets, paint chips, battery terminals chewed up, several underhood areas looked rough, mismatched tires
+) No historical docs shown other than most recent service; NO BOOKS or tools shown? Only 1 key and the red master fob shown?
+) From the posting: Work performed in June 2022 included rebuilding the water pump and replacing the camshaft belts and tensioner bearings as well as the intake manifold gaskets, accessory belts, and camshaft cover gaskets and seals. Stickies also handled.
+) 112003
+) SOLD HISTORICALLY on BaT $110,550 on 1/18/19 at 29.200 miles https://bringatrailer.com/listing/1999-ferrari-550-maranello-3/
+) Today's auction: https://bringatrailer.com/listing/1999-ferrari-550-maranello-18/

We beat this one to death during the first few days of the auction and then in the thread I shared at the top.

May the discussion continue......

We also tonight got another "investment grade miles" grigio titanio/nero up next on BaT.....

 

I’ve been hammered busy at work and with the girls extra curriculars….I’ve missed the last 3 on BaT but tomorrow it’s going to rain so I’ll be inside and will do a handful of quick write ups….

 

Agreed.
Take the car back to OEM wheels…@root also did that (sold his modulars) and I bought his Fabio mufflers and I paid a strong/high but fair price for both of us and he was very smart on selling the extras and maximizing his aggregate sale. It was effectively textbook perfect how he handled his 550. Plus his timing was amazing.

 

100 percent accurate

It seems like making and disclosing mods on a car under 20k miles would not be wise unless they are easy like mufflers and tires.

My 550 has 33k miles (driver not collector) and tons of MSW and other mods and the typical Ferrari buyer doesn’t want or will pay for that. It so happens that’s exactly what I wanted but definitely not the norm.

 

MSW = Maranello Skunk Works

My 550 has all the MSW evolutionary upgrades plus much more like remote trunk opener, cruise control, etc etc etc lots of cool stuff I wanted….and I’m not ever selling so I’m not worried about resale like a typical collector might.

 

Ok guys, I've been busy as a beaver so I'm going to do a "threefer"?

 

Starting with the Grigio Titanio 1999 550 that hammered on 9/2/22.

Here are the deet's:

SOLD at $151,550 on 9/2/22 out of Coeur d'Alene, ID
1999 550 ZFFZR49A8X0116090 and assembly number 33165
+) 18,283 miles
+) Grigio Titanio over nero
+) Carbon pieces but NOT the carbon package -- parts missing like the shifter nob, door and seat pieces etc; daytonas, Tubi's, gray carpet and carpeted parcel shelf
+) 2012/13 dated tires on OEM wheels; instrument cluster clear plastic looked like it was broken in the lower horizontal.
+) It was noted that the battery terminals were kinda chewed up and other light neglect under the hood
+) last belt service was 2/2019
+) extensive service records; red ferrari car cover; spare tire
+) 1,500 miles over the last 10 years
+) 116090
+) Auction link: https://bringatrailer.com/listing/1999-ferrari-550-maranello-17/

Thoughts?.....reasonable to low on the sale......

@Aerosurfer @otoupalik

 

The 2nd one I had been lazy on this month was.....a surprising result?......for sure it was unusual.....2000 EURO....BUT Federalized in 2001 with California CARB Cert.

Lots of us here posted up during the auction.

Frankly I found this auction annoying because there was nothing for me to dig into...no real questions/issues. Not a dissimilar 550 from the one sold by @root with this car showing a discount to Root's and perhaps that discount was slightly larger than a perfect Euro should trade at discount?

The one odd thing is the seller hasn't commented on if the high bidder, who made a strange single comment and was new to the platform, if they actually carried out the auction or not and came with the money.....

Here are the deet's:

SOLD at $191,000 on 9/9/22 out of West Hollywood, CA on a Montana title
2000 550 ZFFZR49B000119552 and assembly number 36642
+) 15,891miles
+) Rosso Corsa over nero with contrasting red stitching
+) Sold by 3pedalstable whom did a great job and had sold @dhalperin13 on of his 575's
+) Shields, Daytonas, tubi's (OEM mufflers included), quilted roof, quilted parcel shelf, both fobs, all the tools, books, binder. trickle charger, seat/wheel/car cover
+) From the posting: the lower control arm bushings were replaced in January 2020, together with an alignment and corner balancing.
+) Last belt service was 2016 -- reported no stickies, was done by "stickies no more"
+) The undercarriage and underhood looked amazing...overall presentation was very strong.
+) From the posting: Hate to be a bragger but, I am please to offer probably the cleanest well preserved 550s I have ever seen. Its remained under the same ownership since 2000 until I purchased it earlier this year from a great fellow and BAT member. This awesome example Euro car was imported to California in the late 2000s and federalized with California Bar sticker. A federalized EURO car IMO is the best version, its got all the euro features, lower, lighter, faster, plus the CA documentation that will allow you to register the car in any state like California. It just passed smog. Car has Tubi Style exhausts. I also have the original exhausts that came with the car as well. This car comes with just about everything it came with from the factory. Here are some of the items: 3 keys and 3 key fobs including the red fob, Ferrari car cover, seat cover steering wheel cover and duffle bag. Ferrari canvas cover, Complete tool set, Complete factory books and cases, flashlight, ferrari map light, Radio code it even includes the little key to remove the radio. Ferrari battery charger and case. Ferrari tire inflator with case and dust bag. I also have a binder full of records, detailed documentation of the car, emails regarding the car, all importation documents and more misc info. It was in a collection of 150 cars owned by Dave Robertson and his car handler Matt Ettinger. They have had everything including the Ferrari 250 Breadvan. This is one of the last cars left from the collection after Dave passed away. Who is very well known in the car industry and a Le Mans driver. I dealt with Matt who also has one of the biggest collections of shell oil memorabilia. He is one of the coolest dudes and most knowledgeable person out there when it comes to Ferrari, cars and shell oil. They took extremely well care of the 550 and its preservation. I am sure he will chime in on this car. The car also has 3M PPF on the front bumper, front hood, mirrors and remains all original paint. I also attached a google drive link of the photos of the car for some reason I feel like the quality of the photos decrease when uploading to BAT. Here is the link

https://drive.google.com/drive/folders/1DWwdAf_7rrKhOrCDE2kQbBdNMSnu2DNB?usp=sharing

+) 119552
+) Auction link: https://bringatrailer.com/listing/2000-ferrari-550-maranello-23/

Thoughts?.....strong result (?) but really hard to have negatives on this one......

 

The third BaT auction this month I had skipped had a decidedly different result. This one had some questions and @root had posed some good commentary.

RNM at $140,000 on 9/16/22 out of Southhampton, NY on a PA title
EURO 2000 550 ZFFZR49B000117413 and assembly number 34746
+) 18,960 miles
+) Rosso Corsa over nero (standard seats - typical bolster wear)
+) shields, black carpet parcel shelf,
+) Belts and oil change December 2021
+) mileage inconsistency on the carfax; airbag leather looked a little "bubbly"
+) almost no documentation, I saw nothing regarding documentation on the federalization of the car, allegedly stickies not an issue
+) Auction commentary noted it has been for sale on a dealer website for $190k
+) 117413
+) Auction link: https://bringatrailer.com/listing/2000-ferrari-550-maranello-20/

Not a great auction presentation; the engine compartment looked fine, the undercarriage was not cleaned.

Felt like a car that was flipped and not documented and a euro perhaps that $140k was all the money? Several commenters voiced the same.....