Has anyone bought a 550 in the last year?

Bought 3 in the last 5 years right at the bottom of the cycle. 1 was a year 2000 repaired salvage car with 41K miles on the clock that had been in a light fender bender. I picked that car up for $50K CAD (about $35K USD) three years ago. TDF/Saddle with pretty much every option from a guy here in Ontario who didn’t really know what he had. The two others were purchased in the $60K range. My Argentio/Black is one of my bucket list cars that I really love, understated compared to the other two but elegant and classy as heck.

 

I wouldn't mind seeing some pics of the Argento car. Or more details about all three.

 

I’ve got a cool pic of all three in the garage of just the tails. It’s cool. I’ll try to find it.
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There seems to be a black 355 blocking in the foreground.

You can't go wrong with silver on any Ferrari, IMO. It's the only color not red or yellow that I like. I didn't care for red or yellow on the 308, so I got silver.

 

Don’t have a ton of pics of the cars but here’s one of the TDF

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I would change the wheels, but there is a big TDF following among Ferrari owners. It has the shields, which look great on blue or red. Daytona seats?

 

I was in the Grigio today and amazingly, I didn’t take a pic. First drive of the season too. I’ll get one. It is Grigio Titano with the maroon/ BLK interior, it has the Big Brake Kit from Brembo with yellow calipers and The novitec wheels painted charcoal.

It’s the coolest and a great day for ridding around.

 

Yes. Red calipers and Daytona’s with blue scourio piping. It has the quilted shelf too. The shields are factory. It doesn’t look as gangsta as the pics portray. The HREs are going back on the argentio and 575 OEMs are going on the TDF. Not bad for $35K USD
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Cool cars, but "real world numbers" for high mileage with a salvage title hardly paint a picture of the market.

Jon, what condition are the other two in? I almost bought a 550 with right at 50k miles eight years ago for $50k. Seemed like a nice car, but needed some TLC for sure.

 

All 3 of the 550s are drivers.

1 salvage and 2 clean cars with clear titles.

Mechanically sound, no leaks and have between 41K and 67K miles. With the exception of the freshly serviced Grigio they all need something. Argentio needs a dash recover and belt service is due. TDF needs a major.

I bought these cars at the bottom of the curve however, I don’t think it is easy to sell a used Ferrari, let alone for top dollar.

Although not forsale and just as a matter of contribution to the valuation discussion, I do value the cars the following way:

MY OPINION ONLY.

2000 550 (October 2000 build) TDF/Saddle w quilted shelf/ factory shields/ red calipers and blu scuro piping and Daytona’s with now 46K miles and salvage title from a light damage “scrape” $75K USD

2000 550 (September 1999 build) Argentio/Nero standard model with cruise control, performance steering ECU upgrade, and GCK Clean title and 68K miles $100-$105 USD

1997 550 (May 1997 build) Grigio Titano/ Nero/maroon with upgraded quilted shelf (factory quality but I think an after upgrade purchase), upgraded carbon fibre dash cluster, console, steering wheel (factory quality but not factory), big brake kit, Alcantra dash recover, Brembo Big Brake kit, novitec Enzo wheels, Tubis, 67K miles $85-$95K USD

A top end sub 10K, 2001, carbon car w factory racing seats and all options including Barchetta wheels I estimate that car today at $180USD.

Barchetta - $ 380K

To me they are worth much more but if you wanted to sell your 550 today, I think this is a good baseline. More stock, less miles, concourse quality all add value accordingly.

 

I think you're right on given what I see the market doing.

 

Believe he is a little light on the clean cars or heavy on the salvage / rebuilt car....
A branded car anyway you slice it, should not be worth only 20%-25% less then a clean car, my two pennies worth
IMHO

 

I think regarding the salvage title car, in general you are right, but the 550 is a special animal being a 2 seater front engine V12 Ferrari. I'm not that far off on the value of the Salvage car. Again, it is worth much more to me, I am just talking If I were entertaining to sell the car not just have it for sale, I believe at the prices listed I would have no trouble selling them quickly. If I wanted to "find the right guy" I could bump all of the prices above to 20% and have to sit on them for a year or more.

Here's a pic of the Argentio
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That's More like it.

 

They are all nice cars...
Was a general comment re salvage vs clean title car and relative value % decrease in value.
Is that your clean titled Argentio, wrecked in the front end? Did I miss something? Wow what a diff...great job

 

Inserted the wrong Picture. That is a 355 of someone who sent the wife out to get groceries. (True)

 

I purchased one last year. It is Argento Nurburging over Cuoio leather. It has the Daytona seats, Scuderia Shields and the Leather rear shelf. Currently has 27k miles. A great service history with most of the work performed by Classic Coach. Books, factory car cover, tools, jack and spare tire were all included. I will be putting it up for sale in the next few weeks. Maybe BAT. I just purchased 4 new tires for it. It does have the Barchetta factory 3 piece Speedline wheels and Capristo mufflers.