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Market Prices 575 Manual vs 575 F1 (conversion costs) vs 550?

Discussion in '456/550/575' started by Ferrari55whoa, Oct 2, 2020.

  1. dhalperin13

    dhalperin13 Karting
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    Mar 26, 2021
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    Dan
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  3. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    34,705
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    Terry H Phillips
    Only options on this one are shields and spare tire. Definitely not Daytona seats. She has 550 Tubis and factory straight center pipes so she is going to be really (really) loud. Post AN 52556, so she has the goodies that come with the update and does not really need FHP. Looks nice overall.
     
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  4. root

    root Formula Junior
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    Nov 28, 2012
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    Bay Area, Ca
    Agree with some of the negative comments on the exterior pictures. They look too washed out and bland for Argento Nurburgring. Background makes it look even balnder. Pictures make big difference on BaT bidding. Someone who knows how nice they look in that color could get a good deal on this 575.

    @dhalperin13 - Just replied to your PM.
     
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  5. Auraraptor

    Auraraptor F1 World Champ
    Lifetime Rossa Owner

    Sep 25, 2002
    11,781
    MO
    100k; not bad for relatively low-option car with 18s.
     
  6. Ferrari55whoa

    Ferrari55whoa Formula Junior
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    Eric
    Figured I'd keep the series going and do a quick write up on this 575 F1 sale today.....

    The rising tide continues to float all the boats. @dhalperin13 @SteveVT and a few of our other friends have done better during covid. Seems odd for this to go for $100 but again.....market still climbs....

    Dan, did you have any interesting back and forth with seller on the "contact seller button"? I saw a comment maybe to that?

    I do like Argento...but with how well optioned many 575's are compared to 550's (generally) and how basic this one was.... I was really surprised for this one to go so strong.

    At least 2 of the top bidders had zero history which is always "interesting".....I guess its also a little odd that the listed seller had no history but is a dealer that has been around for a long time.

    SOLD for $100,000 on 1/20/22 out of Pompano Beach, FL
    2004 575M F1 ZFFBV55A440136096
    +) 18,841 miles -- Argento Nurburgring over Bordeaux w factory standard wheels
    +) I missed the Carfax (omitted?) to show how many owners.....not as many pictures as normal, weak video and light questions from the gallery.....
    +) Timing belt service at 18,816 miles (10/8/21) with basic fluids flush -- that was the only documentation
    +) unfortunate no clutch reading (while the question was asked they didn't provide it)
    +) only 1 key and allegedly 1 fob but they didn't say which one and didn't have the security PIN
    +) Stickies on the radio and light leather warping on the airbag. Bumper around exhaust tips cracking on both sides.
    +) Options: light...Taz mentioned it had the factory straight center pipes. Shields, spare tire, and also remote cd changer.
    +) 136096
    +) didn't see any threads here on the car
    +)https://bringatrailer.com/listing/2004-ferrari-575-maranello-8/

    Always interested in thoughts.....or if the buyer checks in with us.
     
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  8. root

    root Formula Junior
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    Nov 28, 2012
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    Eric,

    You probably know this already but everything and I mean every-effin-thing is up from fertilizer to stake to sheetrock to houses. Even palm readers and message parlors (I've heard) have raised their prices. Why not Ferraris? The car I have been lusting after for the last two years (sorry not a Ferrari) has gone up by nearly 70% since late 2020. I think this 575 sold on the low side of current fair market price compared to what one in similar condition was selling for in late 2020. Had it gone up at the same rate as most other exotic/collector cars it would've brought $130k +/-. I think the buyer got an excellent deal.
     
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  9. Ferrari55whoa

    Ferrari55whoa Formula Junior
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    Eric
    I get it. It’s amazing.

    I’m excited to see niftyfivefifty’s car on BaT in the next few days….that one will “ring the bell”….
     
  10. root

    root Formula Junior
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    Nov 28, 2012
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    Will be watching out for that. Saw a brief interview with Wolfgang Puck on CNBC today. He said $100 stakes are here already. Not a big stake eater but kinda telling where things are headed.
     
  11. SteveVT

    SteveVT Karting
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    Nov 30, 2019
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    Steve
    I think this came in about right given where the market is at the moment. Seemed to be a very solid driver in a nice color combo. I think with better photos, a clutch reading and all the fobs, this could've grabbed $10-15k more.
     
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  13. Bas

    Bas Three Time F1 World Champ

    Mar 24, 2008
    33,912
    ESP
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    Bas
    I wonder where Prozac is headed next, even those will be out of reach if this continues much longer.
     
  14. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
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    Mr. Chupacabra
    I think the buyer did well (I don't know what BAT buyer's fees are). This is not the meteoric rise seen elsewhere by any means. If anything, it seems 575s are heading back to where they were four years ago, which I think is absolutely fair given the rarity, beauty, and usability of these cars. I'm sorry, but there is no good reason for acceptable examples to be $70k cars.
     
  15. dhalperin13

    dhalperin13 Karting
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    Dan
    Eric, I did get an email response from seller regarding my inspection question. The BAT listing did disclose "The selling dealer states the driver’s side quarter panel, trunk lid, and rear bumper were repainted under previous ownership." I found it odd that there was no dealer inspection report available for the car (either Champion or Track & Field who did the belt service). Per the CarFax and the service record posted to the listing, the shop that did the belt service on 10/8/2021 offered the vehicle for sale in 04/2020 and then Champion listed the car for sale on 10/30/2021. The car really hadn't been driven since 2015...too many questions for me to buy the car site unseen. I hope that the buyer reports back and let's us know that the car is fantastic!
     
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  16. Ferrari55whoa

    Ferrari55whoa Formula Junior
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    Eric
    Thanks for sharing. That’s bloodhound due diligence! ;-)

    it’s a little scary spending that kind of money with no PPI. You and Steve and a few others bought at perfect levels where even moderate to big needs can be covered before getting to a $100k car that then might still have unknown “lipstick”.

    fingers crossed for good luck for the buyer.
     
  17. NE550

    NE550 Formula Junior
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    Dave
    BaT buyer's fee is 5% up to $100k, then caps at $5K above that.
     
  18. NE550

    NE550 Formula Junior
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    Yep, I'd agree. Too many questions/stories on this one so $100K seems about right, more or less. Mediocre photos didn't help either. The market spoke on this particular 575M on this day on this venue (BaT).
     
  19. Ferrari55whoa

    Ferrari55whoa Formula Junior
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    Exciting morning….. Nifty’s @niftyfivefifty 550 is up on BaT.

    I’m expecting his car to pull a real strong number even as a driver given what we have seen recently. His sale might be almost perfectly timed? Can’t we be approaching the peak?

    it will be fascinating to look back and see when the peak is/was.
     
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  20. root

    root Formula Junior
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    Looks like a good start. Very nice pictures and video. Selling dealer seems engaged and representing it well. Should do well. Only thing that might put a drag on bidding is the California registration restriction that shouldn't be difficult or too costly to address if no codes are being thrown due to the exhaust mods. I would say something about that if I were the seller because according to my understanding Fabio's headers don't throw codes if original cats are kept.
     
  21. Ferrari55whoa

    Ferrari55whoa Formula Junior
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    Eric
    Problem is if the smog guy in CA paid attention then even if you put oem cats on and no check engine then just the headers is a fail.

    agree that it takes the car out of CA technically unless someone had 2 houses and only kept it here part of the year ;-)
     
  22. root

    root Formula Junior
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    I know a few smog guys around the periphery of the Bay Area who have never seen a 550 and couldn't tell what an OEM header or any other exhaust part for that matter looks like. They don't even look under the car. They just hook the car up, look under the hood with evident puzzlement, verify VIN, confirm no CEL codes and Bob's your uncle.
     
  23. Ferrari55whoa

    Ferrari55whoa Formula Junior
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    #570 Ferrari55whoa, Jan 21, 2022 at 4:43 PM
    Last edited: Jan 21, 2022 at 4:49 PM
    I’m such a wimp for not having done the headers with cats like Terry……

    I’m going to check in over on the Fabio thread as well….
     

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