Meanwhile this SA HGTC went for 262k euros, not much more than for Bluebottle’s WSR....
Meanwhile this SA HGTC went for 262k euros, not much more than for Bluebottle’s WSR. https://www.artcurial.com/en/lot-2005-ferrari-575-superamerica-f1-hgtc-no-reserve-3980-94
Thanks for posting the result. And, as you say, interesting to watch if this heralds an uptick. ~$155k seems good money for the car.
That’s great money, mine has shelf, headliner, shields, Daytona’s, full carbon, 19“ mods and about the same mileage plus it’s a “Skunkworks” edition with most of the Skunkworks mods. I‘d be tickled to get that kind of money when / if I sell.
I’m now revisiting this post I made a couple of weeks ago and standing my ground. along with the auction in Paris I posted above, another standard, unexceptional, medium miles 550 sold recently for £121,000 at Bonhams in London. These are prices people paid, not asking prices. Combine that with my observation about the number of cars on the market, and there’s evidence of a current upswing in prices, whatever the gloomier posters here say. These 550s were good but unexceptional cars. all the more curious, given the low sale price of the SA HGTC and the gated 599 recently.
Ahhh, you can hear the drumbeat....slowly and distantly at first, then swelling until the insistent pounding drives the lust for a V-12 to an intolerable crescendo!!!
The price of the 550 at the artcurial auction amazed me - there are several 550 for sale in France apparently for better prices (but in France the low mileage 550 are not common, which may partially explain the auction result). I still have to actively investigate the 550 on the french market; int erestingly, most of them are imported cars (well, all of them are, actually, but here I'm referring to the fact they were not sold new in France) which has a negative impact on taxes.
They will go more up. I am sure about it. The 250/275 are so expencive that this is a bargain in comparison. And reliable as a Rolex watch.
The calculation for fiscal power has evolved (for worse of course) over years, when a 550 was first registered in France it keeps its initial fiscal power (which was 31 CV) whereas if it has been imported afterwards the new calculation has been applied (typically resulting in a 45 CV fiscal power - and an additional €5000 registration fee with the new "luxury tax" established in 2018).
So here's my take. Clean low mile cars, with a few owners and traceable provenence, particularly when it comes to mileage, are changing hands at top money as they become fewer in number. The gap between a real gem of a 550 and "driver" or tatty example is widening. So why pay £120K for a car from auction with little or no comeback and little or no chance to inspect when there are still cars available for less money, from dealers, with facilities and who are at least a little accountable? It still makes no sense to me. And why so many Barchetta's for sale? Examples:- This car is a "Cat C " write off. - Crack pipe price considering. https://www.pistonheads.com/classifieds/used-cars/ferrari/550/550-550-maranello-5-5-2dr-coupe-petrol/10120107 Been for sale for 2 years + https://www.pistonheads.com/classifieds/used-cars/ferrari/550/ferrari-550-maranello/7486996 Been through at least two auctions and not managed to reach £60K at either of them:- https://www.pistonheads.com/classifieds/used-cars/ferrari/550/ferrari-550-maranello-1-of-457-uk-rhd/8636068 Been for sale for over 12 months - 2010 MOT shows a reduction in mileage from previous year when the car was being looked after by Verdi Cars. Sketchy history before 2011 with big gaps. Lovely looking car though https://www.carandclassic.co.uk/car/C1148992 Been for sale for over a year - why? It looks like a tidy car with a lovely spec. Is Grigio Alloy an unloved color? https://www.pistonheads.com/classifieds/used-cars/ferrari/550/ferrari-550-maranello-uk-rhd/9697619 This one seemingly has everything - Ross Brawn, Rod Stewart, lovely spec - but still for sale. Why? https://www.pistonheads.com/classifieds/used-cars/ferrari/550/2000-ferrari-550-maranello-uk-rhd--24000-miles/10233648 46K miles - £95k https://www.pistonheads.com/classifieds/used-cars/ferrari/550/2000-ferrari-550-maranello/10403808 34K miles - £98K https://www.pistonheads.com/classifieds/used-cars/ferrari/550/550-maranello-5-5-2dr-coupe-petrol/10391079 Been for sale for over two years - price now £100K https://www.carandclassic.co.uk/car/C1012452 Realistically the market is all over the place and I have no idea why or where it's going. I've not had a car appear in a spec or condition I liked at a price at which I was willing to pay. Judging from the number of long term unsold cars, many potential buyers are feeling the same sentiment.
I am surprised to find myself writing this, let alone thinking it, but I will be a little bit irritated if prices start to rise dramatically again. I bought my good but not exceptional car last year (referenced here on page 42 of this thread) to drive and enjoy with the vague hope of not losing too much money .... it’s nice to see prices going up, but there will be a point where the impact on value of each thousand miles driven will start to impact enjoyment ....
The market is rather bad for used or classic Ferrari currently - but since there has been a far better situation as close as two years ago, many sellers are not ready to adapt to the market prices.
It's a nice problem if you see the car as investment. Your calculation of $ depreciation / kmiles driven is a uniquely strong function for Ferraris. It's a terrible problem and a depressing vexation if what you really want to do is drive the damn thing and enjoy it. It's a car after all!!
I certainly didn’t buy my car as a financial investment, and even though my heart doesn’t care what it is worth or what others perceive it to be worth, a small part of my logical brain is whispering “yes, but what if you put it away for 10 years?” .... it is especially annoying as my particular car is on the cusp of being “high” mileage (having been driven an average of 1700 miles per year in its 21 years....). The only solution is I think a big road trip this summer to execute the original plan of investing in life experiences and possibly even take it through the psychological barrier of 40k miles.... besides which in 10 years it is conceivable that it will not be possible or legal to drive the thing anyway, so might as well do it now... (Forgive the stream of consciousness posting!)
ROAD TRIP!! DO IT!! And I have a small choral group in my head. Always difficult to know which voice gets to sing solo in public!!
My 550 has 64,000 miles on it but is still the nicest of 5 i have ever driven so no point me fretting about mileage now!
I think it helps that the US economy right now is pretty good for people with the money to own these, so much that they don't really need the cash from selling at a lower price.
Over 76,000 miles on my 550, 11,000 of which are track miles. Being in the United States I reckon my car has lost all its value.
This is also relevant to the UK market. There's no reason for distressed sales - like in 2009/10, as a result we're in a non market.
actually Barry, your 550 has negative value, especially given the track mileage. I'm available to accept the give-away. when was its last full belt-service?
It's scheduled for a full belt service this year, Seth. I guess I'll have to get that done so I can pay someone to take it off my hands.
Early RHD 575 F1 for sale, the very car used on the Top Gear review. This is owned by a forum member - I've had a discussion with him about it and I was suprised to see it for sale. 41,250 miles - £59,950. Realistically priced. Be interesting to see if this hangs around long. It looks like about the right number to me. I still hanker after a manual unfortunately. https://www.carandclassic.co.uk/car/C1205251
That 575M should sell quickly at that price considering its options. I understand you holding out for a manual, Alan. But there were times I wished I had F1... Image Unavailable, Please Login Image Unavailable, Please Login
