550 market tanking

Been watching LHD 550 market in Europe for years looking to buy decent driver. Missed 40-50K Euros cars which were available until around five years ago. Before big jump they were available up to year or two in the market without moving anywhere. Many of them. All changed in week or two when asking prices jumped to 90-130K. In some cases for exact same cars.

It has been coming down since late 2016. Seems like 1K/month is current rate. 50K actual sale price bottom end is not that far-off now as asking start under 70K. -10 or 15% and number at least starts with 5. Some sellers are still asking same 130K for two years now. Others have come down over time. For example 129, 125, 109 to 89K IIRR during past 18 months for one case which looks ok. That's not only one. When new ones come on market they seem to be in 70-90K range now and still do not move anywhere fast.

 

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Hagerty Valuations on 2001 550 Maranello for what it’s worth.

 

Great chart,
Interestingly shows percentage increases are the highest with the #4 Fair cars, as they have increased by 50% in value, all other #3 to #1 cars have gone up 25% to 35%....tells me buyers look to get into a 550 and will pay a premium just to get into the lower end cars, higher end vehicles may command more $$ however may have less buyers. My two pennies worth
And of course the market seems pretty flat year over year for all cars

 

$75k, the cash is hidden under the couch cushion ready to go...

 

I would be monumentally concerned if my $120k car turned into a $0.05 car in 10 years. Another reason I don't buy S Class MBs.....

 

There may be a hint of hyperbole in that statement

 

Hagerty obviously follows only US pricing. Up to a point EU and US pricing can be very different. Especially if EU prices are lower as movement from EU to US is much more difficult than other direction. In any case market seems to be very soft in Europe at the moment. Its difficult to tell if much of anything actually sells or do sellers just get fed up waiting and stop putting adds back up when they run out. There are more cars available than just about ever before and even 30% price reduction do not seem to help.

 

Just wondering at what price differential will EU cars start coming accross to US since most cars now are "world" cars now days? CA is particularly difficult, must have statement on engine CA certified but I don't think so many other states are nearly so difficult.

 

OP, please re-send info on these 50k 550's. Or list them on this thread as it seems there may be something wrong with my inbox here.

 

OP likes to create threads and disappear...did the same thing on testarossa and other cars...on the tr side never shared with us his source or finds btw.


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Yes, I have a hard time understanding why moderators allow this guy to start troll threads.....if we all report him, maybe they take notice.

 

Link to the ad?

Search of the internet finds the lowest priced 550 is about $89,000 with previous accident damage.

D

 

What's really bad is we all allow ourselves to be sucked in by this guy and others like him. But with a moniker like Italiantrash what can one expect other than bashing Italian made vehicles. What if no one ever made any comments on his posts perhaps he would leave in frustration?

 

The issue isn't specifically "is a 550/575 Maranello worth $£100K+" as there are a few out there that clearly are, cherished from the day they were delivered and kept in excellent order. A credit to their previous owner(s).

The bigger issue is a couple of very very nice 550/575's sell for six figures + and the next thing you know there are 50 scabby monsters hitting the adds described as "show condition" all priced at twice what they are worth.

I'm actually looking for something in the middle. I don't want a "serious collectors" show piece and I don't want an abused money pit. A nice driver, sensibly priced that needs a bit of cosmetic work to bring it up to spec. Fiddling and working on the car is part of the "ownership experience" for me. A hobby if you will.

In my mind a sensible spread for the UK market for the kind of middle ground car I'm looking for is GBP 65K to GBP 85K for a 550 or 575 F1, mileage and condition dependent. A manual 575 I see realistically at + GBP 15K over the same spec if it were an F1. Not double the value of an F1.

I'm happy to wait for the right car at the right price to come along as I'm buying to keep, not jump in and out of quickly.

 

well, since the garage is now full of Porsches, how about you post up that link so someone else can take advantage of this super deal.

That's less of a request, and more of a requirement to remain viable here.

D

 

Jealousy and most of all immaturity are powerful motivators for people that start threads like this. Time for a moderator to step in on this one.

 

Consider it stepped in on.

did you not see my post immediately prior to yours?

D

 

Thank You Sir!


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No I just saw it. Thank you.

 

I am going driving my tanking asset!!!


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How about posting the auction listing then? You surely must have that. But even if true, one auction result is not a market making. For someone who claims objectivity and truthfulness you surely must have known that before posting yet another unsubstantiated claim.

 

what do you guys think of this blokes theory ?