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

Chris, Congrats on the 550! Great car at a great price! Hope you have many opportunities to listen to that symphony!

I considered bidding on it (Unlike the Monterey car which I did, and lost) and the smog/CEL/sorting for a smog strict state plus the tons of audio gear put some doubt on my ability to bring it back closer to stock. I think this lowered the value of the car. Seems highly modified cars limit the buyer pool.

Since this thread is about market price. As a perspective buyer, I believe $160-$225 for something stock with reasonable miles, maintained and a desirable color combo seems about right these days but sellers market. Seems crazy just a few years ago what these were selling for...

Back to the hunt.
-k

 

Well said. I chatted with non-fcar people with limited knowledge of the 550 and they universally saw the CEL/exhaust as their biggest source of pause followed by the shocks. These are general 'car people' who are apprehensive of the upkeep costs in the first place. This may point to a divergence in the Fabio second hand market heavily favoring setups with cats and no CEL.

 

You don't even have to go that far back, less than a year ago it completely changed. It gives me a funny idea of what the differences are between enthusiasts buying cars, versus people hopping on the market with FOMO. Now that low mileage cars are mostly all bought up it looks like they're moving on to concentrating on perfectly cleaned and sorted out cars they don't have to spend extra money on. The FOMO crowd I imagine is not really willing and able to spend the extra money on repairs, all that means for them is later on stuff that's going to eat into what they hope to profit off of.

The car market is looking like the new crypto business.

 

There is def some swirl around financing these days with low, low interest rates and portfolio gains that are subject to big tax liabilities. Some guys are simply financially engineering the best move right now vs. those who are on the edge of affordability.

 

There are a number of ways with rates this low that is makes sense to use someone's elses money. I don't do it unless I have the cash, but then would rather not use my cash. Put the cash elsewhere with sufficient liquidity and leverage the car. Strange times and likely to get stranger. Inflation surely doesn't encourage cash positions!!

 

Agreed on the investment angle - and the cost of money. It is a struggle to define what to pay cash for and what to use assets as a backing for near nothing interest rates. I believe that's driving some of the cost for these automobiles. As for purchase cost, if the trends continue these cars will be too valuable to drive on a frequent basis with more becoming garage queens.

When I find the right 550/575, it will become my first Ferrari, and although I could have afforded it earlier in life, the wife's blessings are now in order and there is room in the garage. Personally find the classic styling of the 550/575 in addition to the ability to have a manual is appealing. The analog experience.

Curious, anyone drive a 550 and 575 back to back? Same Day. If price wasn't a function, what's the tradeoff in driving experience beyond the baseline specs?

 

Darius did a write-up on his 3 pedal 575M vs his (now totaled) 550.

 

Right, I spent $5k in the first week on just random little bits, and that's on a DYI budget.

Is auto financing now that much cheaper to get? I haven't seen what rates you can get these days. I just figured that since used auto loans, especially used supercar auto loans, are things that big banks, where you can't get the low rates, wouldn't event consider touching. Since that finance market I think is rather niche and smaller companies, I would have expected rates to not really diverge from their norms too much.

 

JPMorgan Chase is charging a paltry 2.1% for Line of Credit against bond and investment accounts.


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I wrote this in March.

Still relevant in terms of the spirit of the comparison but I could have done a better job on the nuances between the two. Need to find more time to adequately write about the subject! Overall, they're both magnificent machines. And if you're a Ferrari enthusiast who values the venerable pedigree of V12 GTB lineage, nothing else can best either one at their respective price-points. Nothing delivers like cars of the early 2000's (in my opinion); they sit at the end of the line short of the full tech takeover but remain robust, reliable, and immensely drivable.

They both feel analog. The 550 feels a little older. The 575 is superior in terms of interior build quality. Both feel solid as a rock and tight as a drum.

You'll have to drive two good ones to see for yourself, but you can't go wrong with either.

Thanks for the heads up, E.

 

Ah, well there you go, time for me to start shopping

 

Thank you for the first hand insight!

 

My pleasure!
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I remember seeing this car at Exoticars in NJ awhile ago when it was for sale. https://www.exoticars-usa.com/car/2002-ferrari-575m/
Color combo was beautiful and converted from F1 to Manual.

LBI Limited has an 01 550 Verde Zeltweg with Beige current auction price is $191k.
https://marqued.com/listing/a162165b-d936-4f6a-a34b-dee29e3aae5b/2001-ferrari-550-maranello

 

Interesting car. Curious their asking price.

 

https://marqued.com/listing/a162165b-d936-4f6a-a34b-dee29e3aae5b/2001-ferrari-550-maranello


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Well worth it and in line with my Hagerty based $220k-$240k estimate. Beautiful car. Hope to see it here.

 

I don’t think the car had a “swapped speedometer” btw. The electronics allow conversion back and forth from KM’s to miles. Wil DeGroot of Exoticars has experience in this area if you need to verify.


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