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

That was an oddity. In the next few minutes I'm going to work on the red 550 that followed the black 575......standby ;-)

 

As a reminder last week's 2002 575 w only 17k miles sold for a surprisingly strong $136k.....

Lets talk about Friday's 1997 550.....I get it, not as nice/clean as the 575 but......perhaps the 550 was "right-or-low" and the 575 was "high".....I would have expected this 550 to be AT LEAST $20k higher than the 575 even with the "adversity" on the 550.....

For discussion purposes lets say a typical market clearing for the 575 was $105k? then $130k-ish sounds about right for the 550. If the 550 had a clean carfax then I'd argue it should have been for sure over $140k? Your mileage may vary?

We covered this car historically here: https://www.ferrarichat.com/forum/posts/149659702/
and discussed here as well.....https://www.ferrarichat.com/forum/posts/148920774/

This car really has been kicked around a bit. Letting it sell at $131k was the right call.
Would have loved to know what reserve BaT required given its past BaT history.
+) BaT RNM on 3/24/21 at $114k
+) BaT RNM on 12/18/22 at $112k
+) C&B SOLD on 5/16/24 at $117,500
+) BaT SOLD (this auction) $131,000

5/16/25 a 1997 550 SOLD at $131,000 with 30,065 miles -- out of Mount Kisco, NY with a clean NY state title.
+) ZFFZR49A5V0109577 and Assembly 26688
+) R/C over "Beige tradizione" with daytona style seats (vertical surface on seat ahead of controls looked to have "cosmetics") and a carpeted rear shelf.
+) airbag leather looked to have a horizontal "bubble"
+) post applied shields, rear wheel spacers,
+) Selling dealer completed the belt service and oil change April 2025.
+) Part of the trim around the interior buttons (above the HVAC panel was broken/missing)
+) From the listing...."Wear is visible on the driver’s seat bolster, and the dashboard leather is lifting near the windshield."
+) Exhaust modified with a central resonator delete.
+) lower front black splitter had "cosmetics"
+) FWIW the rest of the car that wasn't involved in the historic incident had all paint meter readings which were very low.
+) aftermarket fire extinguisher between the seats on the tunnel.
+) Sony head unit and aftermarket amp in the trunk on the left.
+) head lamp gaskets needed to be replaced.
+) 109577

A bunch of us were watching/following etc on the black 575 and the R/C 550. Interested to hear thoughts on the pricing between the two......

Cleaner lower mileage 575 or a "serviced driver" 550......?

For me....if the 575 was $105k I'd take that over the 550. At the $131k hammer on the 550 to me that's a "yes please" compared to the admittently nicer 575 at $136k because if the intent is to swap to a manual that and the cosmetics are going to be easily another $45k if not more......

 

Feels like the market should be softening....but the BaT market is just one indicator at a point in time of buyers that almost predominately are not doing PPI's.

There are so few 550's and 575's that a single transaction can go in a "weird direction".

That being said....I agree with your comment "let the driver cars go to drivers and collectors can squabble over the bubble wrap specials".

If anyone said...."I think 550's and 575's are undervalued compared to other similar opportunities" then I'd agree.

I like how BaT as a platform lets many of us look into the psyche of what people want and are willing to pay at a certain time for a certain asset. That's assuming one believes that all transactions actually close and none are tampered/influenced and are completed by rational individuals that are familiar with the market.

I liked the black 575 last week but if I was in the market, I'd not have liked it more than Friday's red 550.

 

Today we had another F1 575 hammer on BaT....at $126k....looks like the owner had the car for 12 years and put 2k miles on it.

https://bringatrailer.com/listing/2003-ferrari-575m-maranello-18/

I texted @Aerosurfer early on that my guess was going to be $112k (given the wheels) but anything is possible if two guys want it.....

We had @Kishote at $96,575 and then thereafter the "duke out" between @MMWX & @wilhit10 (wilhot10 has been with us on Fchat since 2004!) -- congrats.

If @wilhit10 wasn't "hot to trot" then I wonder what the car would have stopped at? We all know just those wheels alone are very valuable by themselves.....

I liked this one....no excuses, low mile with attractive wheels. Will be fun to see where the next one lands since we have now had 2 sales with 2 guys at the finish "slugging it out".

Perhaps any of us thinking of selling should thank MMWX for the recent action and help a guy out and make him a deal off BaT so he can save on the buyers fee ;-) paging @stevepaa ?

5/22/25 a 2003 F1 575 SOLD at $126,000 with a very LOW 11,586 miles -- out of Frederick, MD on a Pennsylvania title.
+) ZFFBV55A630133425 and Assembly 50656 (too early to have the late 2003 final Assembly #52556+ evolution)
+) Grigio Titanio over nero with daytona style seats (very light cosmetic on driver bolster) and a leather rear shelf.
+) Prior owner had the car since 2013. Red and black fobs included, black fob even had the leather pouch.
+) clutch wear display showed 46.184
+) modulars, Tubi's, no-shields, alpine stereo (original included) and becker cd changer, integrated radar detector
+) dashboard leather from what I could tell looked good. PPF on the front and mirrors.
+) 10/2024 extensive maintenance included, belt service, cooling system flushed, addressed the stickies, headlight gaskets and alarm replaced as well as new tires, brake fluid flush and TPMS sensors also replaced.
+) flashlight included with the docs! ;-) Nice stack of receipts accompany the car.
+) 133425

 

I wouldn’t call that a rant, that’s sharing ;-)

It’s VERY valuable to buy local (I did as well).

Absolutely agreed on the wheels.

There are so few 575’s and life is finite so when a person decides what they want and can execute then they should….you only live once and even if someone pays over market, that might be the price to “enjoy it now/today”. These have to continue to go up.

I’m excited for you and grateful for checking in. If you do the conversion I know many of us would love for you to create a thread and bring us along like @180 Out has on his 612.

Yesterday I tried to pick up my car from the mechanic and this EAG kit conversion was getting some “not conversion related” service tackled. Who knows what that guy paid, bet he doesn’t care and I bet he is enjoying the heck out of it!

Enjoy in good health!

ps my 550 has continued to have so many small niggling issues that if I was smart I would have bought a 575 years ago and then at least I could have had something not at the mechanic to enjoy.
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P.s if you are from Maryland (you noted local to the car) then “GO Terps”! My wife’s undergrad was from Maryland and I enjoyed our years living/working in the DC area.

 

They responded very quickly to a few DM’s with me on instagram.

Steve, your car would be great for them.

 

@stevepaa i sent you the info via “conversation”.
Also FWIW no affiliation on my end.

 

I think it would be neat for your car to go to them and have them convert and flip.

It was clear to me the few times in person when I saw your car that your 575 has been well cared for under your ownership.