Maranellos are disappearing

This one;
https://bringatrailer.com/listing/2004-ferrari-575-maranello-3-2/

Sold for $92,500 plus 5% commission. It only had 11,000 miles. Nothing too out of the ordinary except the after market 18" wheels.

Market is coming down. IMHO

 

Carbon Fiber package, too. A good deal for someone. Those are 550 Maranello wheels, not aftermarket. Chris was selling sets of those for $1500 for a while.

 

Pretty sure the silver Volvo 550 has a reported accident

 

Also interesting is that the description for this car says it previously sold on BAT in Sept 2018 and buyer fell through and is being relisted, and if you look at the previous sale, it went for $99,999 vs the current sale price of $92,500. Could be seasonal, could be an invalid sales price since the buyer flaked, but using just this data point indicates that it was down slightly in the last few months, for whatever that is worth.

 

This particular 575M is a pretty nice spec for an F1 car. FHP, carbon interior trim, leather package shelf, and Daytona seats w/ contrasting inserts and Nero Daytona/Cuoio is an attractive color combo (although black paint color isn't to everyone's taste).

On the minus side, the upper dash leather is in bad shape and needs redone, the carpets and other cosmetics in the phots are not cleaned and indicate maybe less-than-fastidious care and maintenance from the PO. And the aftermarket sound system may cost considerable $$ and be a PITA to remove and put back to stock (replace/repair cut up/modified panels, remove wiring, amps, subs, replace head unit, etc). Also, other than a Carfax and a few recent maintenance records (which do include a 2018 timing belt change, apparently done by the selling dealer), there is not much documentation history on the car. Overall this detracts from its perceived value.

Ferraris are very much an individual car-by-car proposition, and valued accordingly....each one is unique and somewhat different, with different ownership and maintenance histories, mileage, mechanical and/or cosmetic condition, set of options, color combos, provenance, etc, etc. With so many combinations and variables to factor in and consider, one has to judge each car on its own merits/demerits. Therefore sales prices can and do vary widely from car to car. Overall this one sure seemed to be well bought, all things considered.

 

Carrs have this rather nice 550 on their website for £110K:

https://exeter.ferraridealers.com/en_gb/search-used-ferrari/2001/ferrari/550_maranello/blu_tour_de_france_522-Carrs_Ferrari-ZFFZR49C000123753

Bearing in mind that they valued mine at £140K in early 2016 as collateral for a loan to buy my Dino, that looks like a significant softening of the market to me.

Still a long way ahead of the £45K I paid for my 550 though.

 

The market has been soft since the 308 bubble burst a few years back. I thought it was a seasonal thing last fall and winter, but it never firmed up in the spring. If anything, this winter is even softer.

 

One thing that can be said about Bat that is not in favour for their lower prices are:

1) No way to get to see the car in person before you buy.
2) No aftermarket service offered
3) No relationship with the seller is offered. This is sometimes an important part of a deal and an expencive investment like buying a car like this is which many do only a few times during their life.
4) The fact that the car will be sold within the one week it is being offered. That is very quick for a special car luke this.
5) BaT is not affiliated with normal websites advertizing cars or official Ferrari dealerships. So people looking to buy a Ferrari who normally seek the experts at a dealership will not find the car.

The upside however, is that the car will be sold during a short period of time which is good for the seller.

One can always state that the car is not worth more than what the market is willing to pay, but many people will never buy a car like this from a stranger and without having an inspection done prior to the purchase. I would NEVER pay that amount of money, without having a look at the car myself!

Just my thoughts about the whole thing....

 

Same could be said for any auction sale. BAT's big advantage is that the fees are not outrageous. I would never sell at auction unless:

1. I was desperate to sell.
2. There was a major problem with the car that would be obvious to a dealer / come up in any PPI.

I would only buy at auction if I could get it at a knock down price, i.e. build in a budget for significant expenditure.

 

$131k...Seems on the higher end of the current spectrum...nice car

https://bringatrailer.com/listing/1997-ferrari-550-maranello-3/?utm_source=dailymail&utm_medium=email&utm_campaign=2018-12-27

 

A snip!

 

Yellow '00 550 hammered sold for $99K (not including buyer premium) @ Mecum last Sat. This one had some nice options on it, too. No idea of mileage (doesn't say in the listing) or overall condition. https://www.mecum.com/lots/FL0119-366964/2000-ferrari-550-maranello/

Reminding again that a Mecum auction (except for maybe in Monterrey) is not the ideal venue to sell a Maranello, or about any Ferrari.

 

The yellow one is very nice.

Daniel

 

Yes, looks absolutely gorgeous.

 

I think 100,000 (dollars, euros, or pounds for UK RHD) looks like what it costs to get into a very good (but not garage queen) 550 right now.

575 F1s a little less.

575 manuals, 50-75% more. FHP helps.

That's down from the frenzied 2016 peak, but more than double the price in 2013-14.

 

Yellow 550s are different from the other colors. It is kind of the black sheep, but at the same time the one with the most self confidence!! I like it more and more...! Any yellow stitching on black leather looks outstanding.

 

Here's a nice looking 550 up at RM auction this weekend. only 4000 miles, native of Atlanta, GA. Anyone here know it? Up with no reserve, which seems like a brave move from the owner.

https://rmsothebys.com/en/auctions/am19/amelia-island/lots/r0015-2000-ferrari-550-maranello/730180#/utm_source=pistonheads&utm_medium=classified&utm_campaign=AM19

 

Looks very nice indeed - far too good to go to auction, let alone with no reserve.

 

forget the 550 look at that f40 coming up for auction holy smokes!

 

I would never list a valuable car at an auction. No reserve is even worse.

It does not always work out well and the auction fees are not exactly a bargain.



You can always decline an offer, if you use the services of a broker.

A qualified professional broker will not waste your time with unrealistic offers.

With a no-reserve auction you are stuck after the hammer falls.

 

You're not wrong! Although surely the vendor will have been given some incentive on the fees to list it without reserve and sometimes it can entice bidders in. Even so, very risky.

 

Silverstone Auctions today, vehicles of interest and hammer prices:-

2002 575M F1 Azzurro California over Crema, FHP, Bucket seats, Harnesses and leather covered roll bar - 14,700 miles Full Main dealer history.

http://www.silverstoneauctions.com/2002-ferrari-575m-maranello

Hammer price £74,000 (£85,988 inc fees and VAT) SOLD.


1996 456GT Manual, Argento over Nero, 49,900 miles, Main dealer + Specialist history

http://www.silverstoneauctions.com/1996-ferrari-456-

High bid £32,000 - NO SALE.

 

Good info. Coincidentally, a friend bought a very similar mileage single owner UK 575M with FHP but manual from a dealer in Northern England last weekend for £140k. Which puts the manual vs F1 premium at 65% assuming everything else is equal. Looking back to the last time when 575 F1s were at this level would suggest the the premium for manual might come down further still. Mid-2017 when I was in the market for a 575 manual, I couldn't find a seller willing to look at anything less than £200k for a 25k mile car. How things have changed in 18 months.

 

A manual 575 is out of my reach currently, plus I'd actually like to use what I buy rather than sweating over the mileage/depreciation.

So I figure a 30k to 40K mile car would be ideal.

The current economic climate here in the UK is making a lot of people nervous. We're in some sort of vacuum just waiting to see what happens. So unless it's a good deal, people don't seem to buying right now.