550s Below $100k?

I was just nosing around eBay in search of the elusive 6-speed 456M when I noticed the prices of the 550s. Although the dealer ask for most cars is still over (often way over) $100k, I saw at least three cars that would move at less than 100. I don't know whether the cars have stories (sellers say no), or the sellers don't know what they are doing, but if good driver 550s really are under $100k I'm going to save up and get one.

Ron

 

Here's one with a buy it now for $84K.

http://cgi.ebay.com/ebaymotors/Ferrari-550-1999-FERRARI-550-MARANELLO_W0QQcmdZViewItemQQcategoryZ6212QQihZ002QQitemZ120144918833QQrdZ1QQsspagenameZWDVW

 

I think the sub-100 cars are typically early cars with a bit higher mileage. That is not say they are not good cars, its just that I have not seen 2001's under $100 or even close to being under $100....

 

I believe this car has a "history" to it... do a search, you might not like the results...

 

Wheels are hideous.

 

How would I find the history? I searched for the VIN (ZFFZR49A2X0115498) and the serial number (15498??) with no results.

Thanks!

 

There is a recent thread where they talk about it being "jumped" and the body panels don't line up!

 

You have to be suspicious when he claims to have $130k into a car he bought only a year ago and he is now willing to part with it for a $46k loss.

 

Are the '97-'00 cars not good?

I think when these hit the $80K range they will be very tempting, but it may take another year or two.

 

Jon - per my other posts, I don't think that's far away. There is- no doubt- a big market gap in general right now - asking vs selling. Good 00 550's ( less than 10k miles, all records etc ) can be bought for around $100K...earlier ones with 15-20K miles are selling ( NOT asking necessarily ) in the mid to low 90's....and 575's are selling in the 120's....I know this is not good news for those who have paid a lot more for their 550/575, but it's what I have seen as reality looking around to buy one. Heck, 360 prices ( selling again )are falling - as I know...still have mine for sale, which blows me away...and I'm down wher I'd probably take $115 or so for it ( hurts to say...)

 

Where would you look for a 575? Prices at dealers are $150+ (some room to bargain presumably). Are private sellers on Dupont going to come down that much? The lowest offered price there is 139.

 

Not to mention the suede interior.

 

I think you may find some 97 & 98's with high mileage for $100K even if the car is in good shape and serviced. Getting the 550 for under $100K is certainly possible but only as a wholesaler.

Here is wholesale on a 1997..
02/01/07 RIVRSIDE Lease $75,000 28,606 Above RED 12G 6 Yes
This would tell you they will look in the high to mid 90's for the car. I think the 550's are pretty much at the bottom, the 575 are still moving down a bit. Great buy for $$$ but do not expect to see 550/575's for less than $100K if they are well maintained and recently serviced. If they have not been serviced then you may see it a bit below $100K but plan on $10K in service.

I do know that Jim Lyons is a pretty good judge of the market. He has several 550's and most are sitting at $110-125K, my guess is he would move a few thousand..

 

Jim is good and local is good [albeit high as it's dealer prices, but they are still willing to negotiate]. BUT don't think these are pretty much at bottom.

feel another drop to about the 85-100k is more in order: r

 

I almost bought a clean 99 at FAAO in April for $85K with 12,000 miles. It was clean, no paint, 2 months since major service, but had ugly chrome 3 piece rims. The seller had bought it 4 months earlier at the same auction for $78K but spent like $6000 or so on the service. I think the wholesale market is high 70's to low 80's and if you search for private party you can likely get one near wholesale. I ended up not buying it because I already had the 355 and an SL55 so decided 3 cars was more than the wife would allow (even for a pseudo dealer).

 

He has good cars. I test drove one of them and he wants $119,000 for it.

 

Sorry, Jim Lyons' company is ...?

 

http://stores.ebay.com/Sports-Car-Company

great guy. click on any listing and get his direct info...been in the bus for years. has a web site too, but doing bus on ebay a lot lately

 

Can you imagine that you can buy a 550, plus a 360 and a new Quattroporte and get a lot of change from a used 430 spider. Something is wrong with this picture.

 

when I was spider shopping earlier this year, I had the same issue: buy a 430 spider (better performance, newer car) or pocket $100k+ and get a 360 spider (better looking).

The 360 spider is in the garage.

 

410SA...exactly....550 = $100-110, 360 = $110-120, Good used( no way I'd consider a new one) QP = $75...total less than $300K + quite the garage...!

 

Sorry to be the bearer of bad news, (at least for those trying to sell a 550 right now), but I have a friend who just sold his 550. It was a 97 model with high, (if 25,000 is high) miles on it and it took him 6 months of heavy advertising to get 85k for the car. It had some paint work, but also a recent service. I'd seen the car, it was very nice. Yes, they are below 100k and stable there. If you pay 120 for one, it'd better be exceptional.........

 

Being a 550 owner, I take a slightly different view........if I sold my car through a broker or wholesaled it to my local dealer, what could I buy with that money that would deliver equal enjoyment?? Absolutely nothing!! On market values, the earlier cars trade at what is probably a undeserved discount. Most of the serious bugs were remedied by recalls, so the main issue is age, mileage, and service history.

 

Not terribly surprising. My experience when attempting to sell my 1989 328GTS with "extensive advertising" was to attract offers at wholesale prices. Ultimately, I traded the car to my local dealer when I acquired my 550.

 

Here's his real website with complete inventory... http://www.sportscarcompany.com/