550 Questions

1. 150K - 180K (depending upon mileage and options).

2. 1 cart bag or two carry bags. Method: You have to put the woods in first (under the cd changer) and drop the butt of the bag straight down).

DL

 

Yo Mr. Hill
I think that you can find a good 550 pre 2000 for a little cheaper then $150k. I think the low end is around $135k and up from there. Don't let the golf bag keep you from buying just have the front seat pass. hold them. Does anyone know if a soft bad could fit on the rear package self? Good luck with the search.
Erik

 

My bad on price you asked for later then 2000
Erik

 

given equal mileage, imo, you'd be WAY better off buying a 1999 or 1998 that just had its major done (-vs- a 2000). you can even get the new warranty thingy on it if you by from an auth dealer, and if they just did the major they should know every damn thing that could even vaguely be an issue.

if you buy a 2000 you'll be due for the major in 18 months or so, so nobody's looked REAL hard at it for three years.

my tuppence. i don't know why you want a 2000 or 2001 (maybe FHP? which wasn't available in 97-99 MYs).

doody.

 

I have a Euro 99 550 with just over 9000 miles for which I paid just over 120K about 2 months ago. The one positive for the Euro in this case is that it does have FHP which was available earlier in Europe than in the US.

Also, I have no trouble getting a standard PING carry bag in the back - woods and all. I think that you would only have trouble with the driver if it had a particularly long shaft.

 

Here is an analysis that I did almost a year ago when I was looking to buy my 1998 Maranello:

550 Price Guidelines
Dollars Percent
MSRP Excellent Good Wholesale Excellent Good Wholesale

2001 215,340 172,272 161,505 150,738 80% 75% 70%
2000 213,300 159,975 149,310 138,645 75% 70% 65%
1999 212,000 148,400 137,800 127,200 70% 65% 60%
1998 204,000 132,600 122,400 112,200 65% 60% 55%
1997 204,000 122,400 112,200 102,000 60% 55% 50%

Basically, the analysis uses the percentages on the right to produce the prices on the left.

Note that "Good" refers to the cars that are actually brought and sold. "Excellent" means a garage gueen. While most of us think that our cars are in excellent condition, 99% of the cars out there are in the good category.

The rules of thumb that I was given was (1) that there is a $10k spread between wholesale and retail, and (2) a $10k spread between years.

Don't know how accurate this analysis was (or still is). Remember this was one year ago.

I'd also echo Doody's thoughts. The best bet is to buy a used Ferrari that was owned by one or two very anal owners (which, of course, describes 99% of the people who buy Ferraris). Simply put, Ferrari produces in such small volumes that it is almost impossible for the factory to work out all the bugs before releasing a model line to the public. Sad to say, we owners become Ferrari's consumer product testing division.

To give an analogy, several years ago I came this close to opening up a BMW/Ducati motorcycle dealership. During my due diligence I traveled around the country talking to various dealers. Every one of the BMW dealers had nothing to say but great things about factory support (e.g., next day air freight from Germany on parts). To a man, every Ducati dealer said that Ducati was the biggest pain in ass they had ever dealt with. Basically, Ducatis were kit bikes that had to be finished at the dealership.

So if you can find a car that has had all the bugs worked out, go for it. Don't be afraid to pay a premium for a car like this. The last thing that I'd do is buy a Maranello on ebay or at an auction. You simply have no idea what work has or has not been done.

To give you an example, here's the service history on my car which was all done at FOH:

Date Miles Description

07/30/98 77 Initial check

05/14/99 5105 A/C doesn’t work
Replace all 4 tires
Install Tubi
Check Engine Light Come On
Alarm goes off at random
Check noise in front suspension
5,000 mile service
Inspect for coolant leak

01/31/00 8171 Check Engine Light on
Check for leak in engine area
Tape stuck in radio
Replace Battery

06/27/2000 9803 A/C doesn’t blow cold

08/22/2000 9875 Check over for sale
Replaced kick panel
Remove Tubi and install stock exhaust
15,000 mile service
Replace all 4 tires
Replace torn truck gasket
CD face plate broken
Freed front stabilizer bar links

***** New Owner

12/29/00 10303 Check for small oil leak

03/28/01 10481 Check for engine leak

****** New Owner (Me)

05/10/03 10690 Preform inspection for Ferrari Power Train Warranty
Change Oil and Filter
Alarm Buzzer
Dismount complete dashboard for leather repair
Detaih leather at LF seat
New alternator
New water pump belts

05/23/03 10893 Check engine light
Reset ECU parameters

08/22/03 11909 Install Spare Wheel Kit
Change Oil and Filter

10/04/03 12615Check seat belt buzzer
Checked all fluids, tire pressure, and wheel torque

Despite all this, guess where iy car is right now? Dat's right at FOH because the @!#$!@ water hose blew.

So, why buy a Maranello? After all, you can find great deals right now on 2001 Porsche TTs for, say, $85K. This is a car that will roll your eyeballs back and will keep on keeping on for just about forever.

The only answer I can give you is that I'm having serious withdrawal pains right now. A Maranello is a throwback car covered in a modern wrapper. The weakest point is the electronic bs. Except for ABS and traction control, I wish Ferrari would just junk the rest. The car is a torque monster. I can see a F1 in the 360, but I can't see one in this car. Shifting is half the fun. Rolling on the throttle in 1st and then shifting to 3rd and romping on the loud pedal... You just have to give it a try.

Good luck and let us know what you find, Dale.

 

without the driver "Ping titanium ISI" the bag and the other two woods fit with headcovers. i lay the driver in seperately.

also, no shot of getting clubs in the 996, except in the back seat, or passenger seat. either way funky dents in the seats and clubs clacking during driving.

 

DrTax - Great analysis. I purchased my 1999 w/9400 miles last month. Based upon my limited data on cars really for sale, not dealer asking price fiction, I'd say that your chart is only a 5-10% high for the market today depending upon service status. Yeah, what IS FHP?

 

FHP - Fiorano Handling Package. Bye the way, love my '01 550. Ordered it new and will never sell.

 

Thanks - I have always incorrectly called it "Fiorano Suspension" and didn't make the obvious connection.

 

by the book, a 550 major will run you about $2700 in parts and 40 hours of labor. in reality, they seem to be doable for $2000 in parts and low-30s hours of labor. some folks have reported even better than that.

net net - figure $4500 to $6500 (with a sweet spot at $5500) depending upon labor rate and what time of year you do it and whether it's at an auth shop or independent and your negotiating skills and the color of the sky that day .

doody.

 

I researched prices and finally bought one a month ago. It think 150-175,000 is what you should expect to pay. As for the clubs, I have a large bag, it fit with the metal woods intact but had to wiggle it with the heads going in first from left to right.. They certainly do fit. My driver is a Ping TSi and I had no problems, and I carry the full 14 club complement as well as a ball retriever.

The car is awesome and the best Ferrari I have ever driven.

 

Howza bout dis for an updated price guideline?

550 Price Guidelines
Dollars Percent
Year MSRP Excellent Good Wholesale Excellent Good Wholesale

2001 215,340 161,505 150,738 139,971 75% 70% 65%
2000 213,300 149,310 138,645 127,980 70% 65% 60%
1999 212,000 137,800 127,200 116,600 65% 60% 55%
1998 204,000 122,400 112,200 102,000 60% 55% 50%
1997 204,000 112,200 102,000 91,800 55% 50% 45%

DrTax

 

I agree with Doody's sentiment - buy 98/99 car with the major done. You will save yourself about 25k in cost overall. Car is exactly the same. Just make sure you've got all the recalls done.

--Dan

 

something like this?

 

Dr.Tax,
What is mine worth? I would rate it as rough.
It is not on your chart.

 

I just saw pictures of a red 550 which had a full front repaint (bumper), but the cool part was that the lower lip (which is black plastic - melds perfectly with a black car) was painted red. Looks different, in a subtle more aggressive manner.

--Dan