550 prices vs values

Funny how Rosso Corsa in those pix looks like it could be a different Rosso completely.

 

Many thanks.

 

That's interesting to know and shows why you should always see a car in person, as all that is not apparent from the pix at first sight. On closer inspection the piping on the driver's bolster is wavy which suggests a former owner who either was a little careless getting in, or enjoyed his carbonaras a lot, or both.

Not a deal breaker but not quite perfect as you say. I wonder how the little cuts happened?

 

How is it that the seat wears out with only 10k on the clock?

 

Yeah. 10k ain't much unless it's been dried out in the sun.

 

I have been in contact with the dealer on this car last week. At that time was still available at 130k CAD "for 2 days only" after which dealer stated car was going to RM this week where he was "guaranteed 120k us"

I have been watching several cars at dealerships that appear to be languishing. What a difference from last yr. Similar softening on 430 6mt... looks like speculators may be starting to move on?

 

Excellent excellent question! It seems that so many "low mileage" cars are out there with signs of higher mileage. I wonder why. Do owners pretend drive them in their garage?

 

Heavy owners would do a number on the seat bolsters as well getting in and out of the car.

 

ICYMI, quite nice appearing OKC-based 34K mile 2000 Nurburgring silver/dk blue 550 sold on BaT today for $98,000. Supposedly had a major done around 300 miles ago. Hard to tell actual condition from photos but appears quite decent from descriptions, essentially a very good driver w/ moderately high miles (by Ferrari standards). Some books and maintenance documentation present, only one fob/key, missing toolkit & inflator.

Link to the closed auction: 2000 Ferrari 550 Maranello | Bring a Trailer

If the car is as nice as described, buyer seems to have gotten a smokin' deal. Thoughts, opinions...?

 

My thinking is, nice car wrong place to sell.

 

Interesting comment. I watch BAT all the time. Always good stuff on there. It seems like they have a pretty good track record of actually selling cars, but I've often noticed that I would expect the prices to go higher. I've wondered if it's just that BAT shows the real market, without so much fluff built in to the asking prices one sees elsewhere. Do you think it's that prices on BAT are depressed relative to what people get elsewhere?

 

Sounds like a good deal for buyer and seller. Prices are normalizing. Good 575Ms available for less than $100K, too.

 

Probably some discount for being a euro car...

 

my high line buddies have been telling me for weeks the >$100k is soft.....

so this car was $104k ish with fees

 

I don't know what this means, but it's somewhat interesting:
2003 Ferrari 575 FHP Concours Platinum Winner | eBay
2002 Ferrari 575 Maranello F1 | eBay

 

That seems like pretty minor damage. In the old days, wouldn't have mattered at all if well repaired.

I was going to say that this is supposed to be a thread about 550s not 575s, but then noticed that the OP has only ever posted anything twice, in the summer of 2015, and then has disappeared permanently.

Is this the best ever thread started by someone who vanished after posting it as their first ever entry? We demand to know.

 

Good deal on the 2nd 575M, except for the salvage title. With that, she is not worth very much except to someone who wants a good driver cheap. Could be she had the salvage title before the accident, which looks pretty minor.

 

So the silver/blue euro 550 that sold on BaT for $98K in early May appears to be a "flipper", this time @ $150K asking price here:
Inventory ? Santiago Sports and Classics

 

i think that is old. that is where the car either came from before or was consigned

 

My guess is it was salvaged before this accident.

Judging by the non-OEM paint on the lower trim only though.

Also I'd want to inspect the undercarriage of that car carefully. The fact the front left wheel has been replaced is odd considering the damage is on the rear. Might have hopped a curb though.

 

This looks a bit pricey at just under £200,000:

FERRARI 550 MARANELLO ~

 

Crazy, 140 in the trade max

 

I agree. A dealer I know sold a 25,000 mile 550 for 140k, retail, last month. This one will struggle to sell for 150 retail; 140-145k is probably its correct sell price now at most (given that things have not exactly improved since then). It's not that special, and 198k is where pie meets sky.

 

I think your very likely correct.

 

Gen X and Millennials will continue to embrace F-cars. Some social trends and studies show that Millennials are far more narcissistic and care about themselves more than society. It's all about them and "branding". I see consumerism rise more than ever.


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