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

Are you thinking about Brian's car in San Antonio https://www.ferrarichat.com/forum/threads/2000-550m-red-tan-loaded.627494/page-2#post-147561043
@EZ2SPD should list his on BaT just to see how high one can sell. Its worth SO much more than the stuff we have seen on BaT.

 

You get two guys with the red mist and magic can happen.

 

Steve - I’m excited you are on here. I will be interested to hear your thoughts when you take delivery and when your dealer gives it a once over.

I’ve bought I think 4 cars now sight unseen (all each under $25k) and the last one I got snakebit and very much regret not doing a PPI as I got the pleasure of spending 5-digits rebuilding a DART 427.

I knew better but the purchase price wasn’t upsetting so I gambled because I wanted the car so bad.

I’ve only had one PPI done and it was many years ago on a 308 and thankfully I was able to walk.

I’ve done so much research it can be a little scary the more you know and not having a PPI on what I consider a major purchase is a little scary. My luck has been good generally and on this car I hope yours is as well.

We have seen 575M’s trade in the mid 80’s so if your cars needs are modest ($5k or less) then you probably did fine. If it’s a Pandora’s box then that will be unfortunate.

When you get the car and the specialist reports on it’s needs it would be neat of you to do an “Introduction” thread in the 456/550/575 section so we can hear how it went.

Fingers crossed.

 

Taz noted this car was for sale last in SoCal in 2014 (129726).

Here is Taz's post: https://www.ferrarichat.com/forum/posts/143317565/ Back then it was 36k miles and $65k in need of a major service. Looks like that was the last major service.

$82k OBO For sale now on ebay https://www.ebay.com/itm/2002-Ferrari-575-Carbon-Fiber-/233790280075?_trksid=p2385738.m4383.l4275.c10
Looks like:
2002 575M
+) Nero over Nero;
+) race seats
+) carbon trim package
+) leather parcel area
+) paint work recently done (no mention of accidents)
+) ONLY 2 FOBS
+) partial deferred maintenance

The "autocheck" with the ebay posting shows accident history with no air bag deployment and 5 historical owners
.
Vin = zffbv55a220129726

Hope everyone continues to find these interesting/helpful. -- Eric

 

SOLD $115,000 on 12/1/20
+) 550 Ser no. 118275
+) 2000 MY with 46k miles
+) Well documented with current-5-year-owner investing $15k in maintenance; 2-fobs (red/blk), no real options
+) Oklahoma City, OK (owned by a 1x F-chat poster cfujgo)
+) Grigio Titanio over bordeaux
+) https://bringatrailer.com/listing/2000-ferrari-550-maranello-13/
+) No posts here on the car that I could find

Maybe BaT is cooling off finally? This was a driver mileage car but not sure what there was any thing obvious to pick apart. I would have thought it would trade lower in the private market but others have noted the obvious BaT premium compared to the private market. Let's see what the next one trades for?

 

It will be interesting to see if that sale actually closes.

I realize there is a lot of general ghost bidding that goes on and in this case the last few guys might have not paid attention to the market and thought it was actually still NOT at the reserve given the last 2 goofy 550 results on BaT.

It wouldn't surprise me in the least if the winning bidder was just screwing around since he had just joined BaT with no history of any sort?

 

Dave, I agree it seems crazy but there is SO much ridiculousness and recklessness over on BaT its just amazing. It is not hugely uncommon for that to happen and then cars on BaT get relisted when guys flake out.

Who in their right mind would have paid the closing bids on the last two 550's over there. The black on black 550 were two guys bidding for clients, the winning bid was non-sensical given what's available generally out in the market (I'd call that specific result a guy with "F.U." money as it made no sense -- and it was headed to a collection).

I'm still flabbergasted what happened on Doug's high mile TdF car with 68k miles.

BaT continues to be an alternative universe. There are buyers there that are doing crazy stuff so it is definitely a sellers market for 550's. I don't think any of those sold there would have gotten close in the private market. Sellers should take advantage. @EZ2SPD could arguably have the best optioned, low mile example out there for sale and in the private market it just isn't moving. He needs some of that ridiculousness at BaT if they would accept a reasonable reserve for him.

That silver 550 today was a very basic/simple car and maybe hard to "pick apart" or complain about it but a $115k result for that car still seems well above the private market?

 

@EZ2SPD can a moderator take your original for sale post here down prior to it going live on BaT? With all the funny money over there it should sell extremely strong.

 

SOLD $164,550 on 12/17/20

The BaT market continues to amaze. This example ticks a lot of boxes but that sale is very strong.
+) 550 Ser no. 123385
+) 2001 MY with 9,900 miles
+) Rosso Corsa over tan
+) This car was bought in 2016 and parked with only a few hundred miles put on it.
+) Appears to need a belt service
+) Daytona style seats (all tan not separate colored inserts); ad only showed 2 black fobs
+) Located in Monterey CA with Montana plates
+) https://bringatrailer.com/listing/2001-ferrari-550-maranello-6/?utm_source=transactionalemail&utm_medium=email&utm_campaign=bat_tagged_comment#comment-5441087
+) No posts here on the car that I could find

 

HISTORICAL POST
BaT Reserve NOT Met at $74,000 on 10/30/20
+) 575M F1 Ser no. 134688
+) 2004 with 23k miles (Tubi exhaust, 19" modulars and daytonas)
+) Los Angeles dealer with recent belt service July 2020;
+) Argento Nurburg over Pelle Nero with Daytonas (interior looked real sharp)
+) BaT link: https://bringatrailer.com/listing/2004-ferrari-575m-maranello-4/
+) Ferrari chat link: -- I actually didn't see/find one for this car.
+) DISCLOSURE I actually bid on this car the auction was so quiet it was odd. Maybe we are nearing short term saturation on 575M's?

Hope guys find this helpful/interesting. -- Eric[/QUOTE]

NEW INFO

I talked with the owner of 575M F1 Ser no. 134688 this afternoon.

Seems like a genuine guy, has a nice collection.

Sounds like he is rotating out one car in the collection is not needing to sell.

Has it listed on Autotrader at $89k. Reasonably optioned and I very much like the interior.

Very surprised it didn't get the love on BaT. Anyone wanting an Argento, this one might be worth looking into.

 

Sorry about that. https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=567881551&zip=95407&referrer=%2Fcars-for-sale%2Fsearchresults.xhtml%3Fzip%3D95407%26city%3DSanta%2BRosa%26incremental%3Dall%26modelCodeList%3D575M%26makeCodeList%3DFER%26sortBy%3Drelevance%26location%3D%255Bobject%2BObject%255D%26state%3DCA%26firstRecord%3D0%26marketExtension%3Dinclude%26relevanceConfig%3Ddefault%26searchRadius%3D500%26isNewSearch%3Dfalse&numRecords=25&firstRecord=0&modelCodeList=575M&makeCodeList=FER&searchRadius=500&makeCode1=FER&modelCode1=575M&clickType=listing

 

Yesterday we saw another interesting sale close on a 550. The sale was for a unnamed individual and assisted on by @doltond

The last Grigio Titanio as noted above sold SOLD $115,000 on 12/1/20 -- that car seemed vastly superior to the one that ended yesterday yet they hammered right next to each other.....

ThisGrigio Titanio SOLD $113,550 on 12/24/20
+) 550 Ser no. 116407
+) 1999 MY with 37k miles
+) Only option - tubi's; 3 years since last major; slow historical parking lot front end accident repaired; more recent light front end cosmetic issues; outdated tires
+) Sonoma, CA (sale assisted by F-chat poster doltond)
+) Grigio Titanio over nero
+) https://bringatrailer.com/listing/2003-ferrari-575-maranello-17/
+) No posts here on the car that I could find

To me it continues to be bizzare how the bidding is going on BaT as a real strong sellers market for 550's. The last patient bidder was at $84k by "VR6Cabrio" a bidder on the other grigio titanio that ended 12/1/20. After his bid, 3 guys with little to no history rode it up to the $113,550 hammer....its possible one was a ghost.

Next 10 days on BaT will be interesting with.......

+) This Grigio Alloy 575 in Florida with very little current action (me and one weathly entrepreneur the only current bids): https://www.ferrarichat.com/forum/threads/575-on-bat.569247/#post-145811673 (luggage is gone from the auction 3 years ago when last sold on BaT).

+) This strange Blu TdF 550 with a unique situation and premature valve job performed: https://www.ferrarichat.com/forum/threads/anyone-know-the-owner-of-550-s-n-116105.190226/

@niftyfivefifty with some solid questions/statements so far.

I'll add both these current auctions to the thread after they hammer.

Merry Xmas!

 

That's my understanding.

They have that "interesting" TdF 550 right now and I am assuming his Rosso will follow.

Stinks that his car couldn't follow the other Rosso with less options or even the Grigio Titanio because this TdF car has WAY too many issues/questions/challenges.......

If BaT was curating well they would have listed EZ2SPD's right after the other Rosso, then he would have hit the high water mark for certain....might still since it deserves to be one of the highest given all the cars I've seen in/on the market.