575 manual watch, Europe

Discussion in '456/550/575' started by Themaven, Aug 1, 2015.

  1. Themaven

    Themaven Formula 3
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    Just after I wrote that, Bonhams' December sale catalogue landed in my office, and right on cue there's a UK RHD manual 575 in there.

    http://www.bonhams.com/auctions/24124/lot/130/?category=list&length=10&page=3

    30k miles, nice option with the carbon seats, but.. no FHP (mentioned); and no mention of original exhaust along with the Tubi. My concern would be the state of the leather, which from the pictures does not look optimal on the dash, seats or doors. Also, five service stamps in 15 years is one every three years, which isn't really enough for me for a car that has been driven.

    It's estimated at £150-£200k, which should not be unrealistic. But there are nicer looking cars for sale at dealers here; so I'd see no reason to buy it unless a lowball bid.

    The 550 in the same sale looks nicer.
     
  2. Bluebottle

    Bluebottle Formula 3
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    Where has he gone?
     
  3. Bluebottle

    Bluebottle Formula 3
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    Agreed on both counts. Wear on driver's seats looks worse than I would expect for 30K miles.
     
  4. 635CSI

    635CSI Formula Junior
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    Did 2002 cars have the the 575M badge on the boot? I thought that came later, my 2003 certainly didn't have it.
     
  5. greyboxer

    greyboxer F1 Veteran

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    I think this is a glued badge and it used to be that with all new cars you could easily remove glued badges with very hot water so maybe yours was one - certainly I can think of an early 2003 with the badge
     
  6. Themaven

    Themaven Formula 3
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    He sold his 575. He's still around on Fchat, but sadly not posting here.
     
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  8. tazandjan

    tazandjan Two Time F1 World Champ
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    The 575M script was introduced in Summer/Fall 2003.
     
  9. Bluebottle

    Bluebottle Formula 3
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    Sold for £158,300 inc. premium.
     
  10. Themaven

    Themaven Formula 3
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    Thanks John. That’s quite a strong price, I reckon, for a car that looked nice but not A1 as discussed above.
     
  11. Themaven

    Themaven Formula 3
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    Image Unavailable, Please Login Looking at this car again: I wish the new owner all the best and these are fantastic cars, but the interior of this one really isn't great, even just from the pix. If that's worth £158,300, then a good one is certainly nearer 200k.
     
  12. BarryK

    BarryK Karting

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    Not sure this indicates a strong market though. The hammer price was the same as the high-bid on the RM car (see post #453) from early September which was a no sale which was a 58k miles car vs 30k here. The seller probably had a more realistic reserve here.
    It works out to be around £123k to the seller, which is a long way from the near £200k people were asking for 25-30k mile cars a while back.
     
  13. Themaven

    Themaven Formula 3
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    That's not a correct analysis. You are comparing what a seller receives, for a sale in an auction, to what a dealer offers a car at, on a website, gross of margin.

    A car offered at £200k as stated above will typically sell for 10% under = £180k and the dealer takes 10% commission = £162k to the vendor. There were certainly nicer examples than this slightly tatty interior one with no FHP one available for £200k. And it's not a while back; there's a higher mileage (but superficially nicer) 575 offered now at £210k.

    https://www.pistonheads.com/classifieds/used-cars/ferrari/575/ferrari-575m-maranello-coupe/7815398

    The definition of 'strong' is open to opinion. What we have here have a proven price point for a car in (far) less than A1 condition with average miles and no FHP at £158k, sold at auction with no warranty from the vendor and all the usual auction caveats, which is fact, not opinion.
     
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  15. BarryK

    BarryK Karting

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    No I am not. When I was out shopping for a 575 manual RHD in the middle of this year, there were 2 cars around 25k miles and one around 30k where the sellers would not accept below £200k, which would have netted them around £180k. The cosmetic condition of two of them were marginally better than the Bonhams car just sold. The high bid from September and this one would net around £123k for the seller.

    Even accounting for an auction "discount" the sellers seem willing to accept lower prices now than a even 6 months ago.

    Let's not forget that another member here ended up accepting £150k for a 17k clean FHP car a few months ago. Perhaps a tad low, but not 180k net/£200k gross people were aiming for (post #457)


    As they say, asking ain't getting.
     
  16. Themaven

    Themaven Formula 3
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    This car is for sale at a dealer in Germany and at another one in the Netherlands. If you buy it in Germany, it's up for 175k euros. Across the border in Holland, it's 200k euros.

    https://www.autoscout24.com/offers/ferrari-575-m-schaltgetriebe-1-hand-1-von-177-gasoline-grey-b44941bd-22ac-4d20-97c2-5c279fdc0ed4?cldtidx=7

    https://www.autoscout24.com/offers/ferrari-575-m-maranello-handgeschakeld-1-of-177-1-eigenaar-gasoline-grey-4a031aeb-3658-42f7-a8bd-accfcf8e96e5?cldtidx=5

    Either way, it's still done 82,710 km, which is healthy.
     
  17. Bluebottle

    Bluebottle Formula 3
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    So that's c. £150/165K for a 50K miler, in round terms. Strong for a left hooker, I would have thought.
     
  18. Themaven

    Themaven Formula 3
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    Yes. And who knew the single market was unravelling this fast?
     
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