Hi @All as prices are going up for the 599 GTO there might be a reason to by one. The F40, F50, Enzo, 288 GTO and La Ferrari are gone up too. I was offered an 599 GTO with 70.000 km, all services done by Ferrari. The km were done on long distance drives. Car looks like new after the last service. No accident. I am based in europe. GTO`s are offerd from 750.000 to 1.1 million Euros with a mileage form 5.000 to 40.000km on the market. Would like to know your opinion if you would go for it or not. Thx a lot Andrew
As long as you can buy it AND afford the services (or do them yourself competently), then do it and never look back!!!!
Yes, if you can get a good discount, why not. My GTB has the same mileage, I reached this milestone a few days ago. Image Unavailable, Please Login
A dutch owner drove his 599 GTO 135.000 km’s, he used it as his daily driver. No pic of the odometer but you can see the topic here on Fchat: https://www.ferrarichat.com/forum/threads/599-gto-135-000-km.490281/
https://www.dmarge.com/2022/03/ferrari-enzo-daily-driver.html More support you can daily a Ferrari Sent from my iPhone using FerrariChat
It really depends on how much you are saving over an avg driven GTO....if you all do remember not long ago when the car market was softer, folks with higher mileage exotics couldn't even give their cars away. I obviously voted no. Pay more for lower mileage.
Eventually, mileage makes no difference. Over half the 250 GTOs were badly wrecked at one time or another, some even rebodied a couple of times. Values seem to be doing OK.
I think it is a lovely feeling if you buy a relatively high mileage Ferrari special and you don't have tot be worried for the extra miles you put on the odometer. Drive it as much as you want! Verstuurd vanaf mijn J9210 met Tapatalk
That is definitely another way to think about it. Or also, not worry as much with normal road wear and tear (chips, scratches, etc) and all the idiots in the parking lots ...
As long as the price reflects the mileage .. then its should be fine .. Its really not many miles when you convert it to miles its like 31900 miles which is nothing.. just get a big discount and in 10 years it will not really matter
Higher percentage gains can be made on other cars. If you have $1M burning a whole in your pocket, you can buy 5-10 other cars and make 100% each in 10 years. I don’t see GTOs going from $1M to $2M in 10 years. Regardless, get what you want. Either way, you’ll have some gains with the impending auto markets. Sent from my iPhone using FerrariChat
The mileage probably means the car will run better But the question is what is the price you pay to get in today vs what the market for a car with more km on the clock when you eventually go to sell. At this mileage you will not be appealing to the collectors, so you will have to consider the price level for the enthusiasts. Yes, values are going up, but the collector level cars are more likely to remain higher when the eventual correction happens- Ferrari is very special, but corrections always happen. So of you buy it with the mindset of collector values are way up, and now the enthusiast level values are being pulled along so you go for the ride, then just know at some point you might find the car isn't worth quite as much as you paid. With all that said- its still a Ferrari and its still got the magic letters. And the most important part is you get to enjoy the car. I hope it works out!
I also would not think the buyer would pay anywhere near 1million for a GTO with 70000km on it.. when you can buy a GTO with less that 1000 miles on it for around 800 or 900 ..I would think the 70000km car would be priced in the 500ks or maybe 600k and I would not buy any of these cars for the purpose of making money.. now not losing money maybe,,,,,
I’ve done very well flipping cars after a few years ownership. My cars that I’ve owned a longer that I haven’t sold yet have serious gains (280z, 348 ts, F430, 599 HGTE). Guaranteed insurance value too and I get to enjoy them. I plan to keep growing my car “portfolio” with collectors. Diversifying investments sort of speak. Purchasing cars is more intentional and secure investments than throwing money on SPX/SPXL (S&P500) or something, imo. Sent from my iPhone using FerrariChat
yes I have made plenty on buying then selling cars But Its far from a sure thing.... and its hard to hit it right so I buy what I like and if it makes money when I sell it in a few years..... I prefer the stock market but am far from an expert in that
Yea, I only buy what I’d enjoy being stuck with. Also what I can afford (cash only, no loans). I’m smart enough not to buy a C8 Vette for $130k, from a financial standpoint, people can buy whatever they want but don’t complain about absorbing $100k in depreciation in 10 years. Sent from my iPhone using FerrariChat
Jake- You do not have an HGTE 599. They were not available until US MY2010. Retrofit kits are not the same.
You’re not wrong, but not right either. It does increase value, but not the same of course. I’m also lacking some of the interior trim that a factory HGTE would have too but I plan on fixing that. When Atlanta Motor Cars sold it they even advertised it as “HGTE” as one sees with most “retrofitted” sales. The difference from “retrofit” from the factory versus from a Ferrari service center is negligible, but not the same. Sent from my iPhone using FerrariChat
Jake out of curiosity are you the guy that restores and sells old 240Zs …?? the name is very similar ?? seems like I read a story about that group maybe in Road and track a year or so ago????
Yes and No. Most people didn't do the entire kit, it was very expensive. At least that is what I see when I look at cars that are retrofitted. The entire setup was like $42K, I have seen the invoice from my car. BUT that still lacked the HGTE stitching on the seats and you had to have a bunch of the CF options as well. I will ignore the ones that have early SN since that is well known already.
If I ever have the means to purchase a GTO, I would buy it and enjoy it, so by default, I guess a higher mileage example would make more sense to me also.
I’ve “restored” and flipped a few Zs but not me you’re thinking of. I adore classic Zs. I’ve got spare parts to build 2 from the ground up lol. Sent from my iPhone using FerrariChat
