Flooded 550?

https://www.gullwingmotorcars.com/1999-ferrari-550-maranello-c-5112.htm

I've been toying with the idea of taking a drive up to have a look at this. Anyone know this car's history?

 

I remember helping a dealer in Albuquerque sell a salvage title 550 for $50K. Times have changed.

 

129K is not a bargain price.

 

lovely spec but 130K for a flood damage car?

How long ago was this damage, how much has it driven since then?

 

Wonder which "flood" this one was in?

 

You are close. I brought a flood car once, and it worked fine. But I brought it 10 years after it flooded. If it works, it works.

 

Need to find out why this has a salvage title. If a flood car, it's roll of the dice. I'd stay away at any price. As the saying goes, a cheap Ferrari is the most expensive Ferrari you can buy.

 

hence my question

If it's done ~2-3K miles a year since the flood I wouldn't be very worried (assuming the car was used as a fair weather weekender). If it was flooded last year and now up for sale I'd run.

 

IMHO, the only way this car would be worth $125k is if the sellers are giving a warranty, or putting money into escrow.

 

Shame. Beautiful car. Worth restoring. This is my spec of my car.
I’ve done some mods to it. And I will never sell it. Like an obscure watch or gun or painting. The Marrenello is a true classic

 

So, what’s it worth then? $100k?

 

Does anybody know where this car is located? Peter sells cars from all over the country. The pictures in the listing are not near his building.

 

$42k on a good day

 

Someone on here funnier than me texted me to let me know the real answer is $42,069

you know who you are and I value our friendship!

All of you regulars are good fun!

 

In all seriousness…A flood 550 is a parts car….why go thru the brain damage unless you are Ed Bolian and can use it for content.

the price would have to be insanely low.

just having my door mechanisms rebuild was a PITA….can you imagine the nightmare of getting a flood car sorted?

 

i notice people dont even clean cars prior to listing

look at that driver side footwell.

 

In seriousness I would put market value somewhere between 50k - 'what an idiot is willing to pay'

Yes as pointed out a freshwater flood car that has seen regular use since the event is generally 'ok' but the branded title and hx forever flag the car at time of resale. Remember 550s, particular standard (aka no CF/sport seats/FHP/550B modulars/other World speed record options/etc) are common enough no sensible buyer would want to pay over 100k for that.

 

Huh-huh-huh... Sensible lol


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offered 100k, no go.

 

Did they disclose how long ago (and miles) the flood was? Maybe I missed that along the way?

 

No. I watched a few buried videos of the car driving (slowly) and asked if they’d consider $100k mentioned my potential trade, they asked how much I wanted for my trade and then let the $100k offer expire.

I wouldn’t call them forthright or easy to deal with. Not what you want when there’s already a bunch of questions about the subject of a transaction.

Also noticed that you are in Silicon Valley. My company is based there- we should link up!

 

It’s been a long time since we have done a Silicon Valley 456/550/575 meet up….but my 550 has been at the mechanic since May 2nd
8-(

can put you on the list for the next one!