2004 575M - thoughts please..

price should be closer to $150K

 

Thats top dollar for a 6 speed IMO

 

I guess it goes without saying it is due a service and belts. Any of that done?

 

Agreed, but the 575M is a fantastic car. I've only ridden passenger in a 575 but I have spend lots of time driving a 360... they are very different and I think it's a matter of personal preference what type of car you like better. Really though, you can't go wrong!

 

Everytime someone is interested in buying a ferrari, some one almost always says the price is too high. If i could find a 2004 575m for 150k (under 10k miles) id think it was too good to be true. Im thinking of taking a look at the 2002 575m at Bentley of long island. I thought the price seemed fair, but above kole said 150k for a 2004, now the price seems high. However at FOLI and the various web sites, the prices for a 2004 are much higher than 150K??

 

The 575 is too cheap. They are the best deal on the market. the 599 is heading for its second price increase putting a conservative optioned car at over 318M. The 575 at 175M is a gift. they made about 1500 with probably fewer than 300 6spds. Give me a break. and some people also want to spend 300 for a daytona?????

Everyone is sleeping.

 

shhhhhhh!!!!!!!! Why are you telling everyone!?

 

Pricing is always a tough issue. There is the asking price/transaction price/wholesale price issue. The main problem is that first time buyers will walk into a dealer and pay 2.5% under asking and feel happy.

The dealers look for these guys and wait for them to show up. But there are only so many of them.

The guy who is on his third or fourth Ferrari is a much more savvy buyer and knows all the prices. He has sold his cars and understands wholesale. He looks for the right deal at the right price and pays maybe 10% less than the first time buyer.

My model says that an F1 2004 asks at $175 and has about a $162K transaction price. 6-speeds are less by maybe $5K.

For whatever it is worth, here is my current model:
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Thanks Grigio, so an 2004 would be over 160k, not 150k. I forgot to post the asking price at bentley for the 2002 with 5k mls., it is 144k. I have purchased a ferrari and two maseratis from FOLI, so i thought i knew them pretty well. They had a 612 that they were asking 250k(on consignment) i got them down to 235k,( i would of taken it for 230k) but that was because it wasnt selling. The 360s and 575s they seem to be firm on the price.

 

I do not intend to hijack the thread, so perhaps we should start a new thread on the topic, but this model you have is a very interesting approach. How did you arrive at the percentage depreciation per year and at the wholesale and retail prices (gut feel, research, average industry values, etc?) I admit your model piques my engineer/math curiosity.

Thanks.

 

About 4 months ago, I sold a 575 M F1 red tan with about 3000 miles with full retrofitted GTC suspension from Ferrari (without carbon brakes), shileds, daytonas, front and rear radars, tubi, full stereo, 250 GT front grille, extended leather... for about $170K! Now compare that with a more lightly optioned 6 speed almost half a year later. When I was looking, there were 03 575 six speeds at $140K all day long about one year ago. One high mileage I got down to $130K. At the end of the day, if he likes the car the price is not important.

Agree a 575 is a super touring Ferrari but it was nowhere near as sporty as my 430 coupe or spider that I had at the same time and could compare back to back

 

and it had modular wheels, front and rear radar, current ferrari warranty, new belts...should I go on...K

 

Different purpose. Different taste. Very simple.

 

I think Kole is right on a number of counts including that the 6-speeds are cheaper to buy.

These cars can also be worth more in different parts of the country. The F of SV has a 2002 with 1200 miles on it. Somebody offered them $159K and they turned it down. I just bought a 2002 Black/Tan with inserts, HRE's, $5.7K service, fresh tires, etc for $138.75. I think that this was a fair but not a steal, but I liked the car (although it needs an exhaust!).

Bently Long Island offered me thier titanium 2003 (5K miles) for $148K which I thought was $10k too high. No services, no records, no modulars, etc. You would have to immediately sink $10K into it.

Pursuant to the sporty comment, I agree with that too. My personal preference would be to sport one of these out to the max, which I may do. Ferrari definetely went for the "quiet cruiser" demographic when they went to the F1 in 2002, fir better or for worse. However, my last one was a 360 F1, so I am that demographic.

 

This subject has driven me crazy ever since the 599 entered the market.
Granted the 599 is incomparable by all I have read and I'd give my right arm
to have one but as has been mentioned the price and availabilty has gone to $500K in private cases so therfore how or why has the 575 dropped ? IMHO
IT IS OUR FAULTS.We have allowed the pricing on these cars to plummett.I was speaking to Michael Sheehan recently and he told the biggest steal on the market are 550's and 575's.At $318K TO $500k for the 599 the Maranello's should be be bring a proportionate ticket price.

 

I agree Michael, the depreciation on a 2005 575 is just not funny anymore. They deserve better than that. But as some people suffer others benefit and I'm glad I've reaped the rewards and bought my 550 now. As Sheehan says - it's an absolute steal at the moment. In 2 years time, the 575 will be going for current 550 money. It'll be time for me to upgrade, then, I think !


Onno