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

I've been busy AND a little lazy.....figured I'd cover this one before the next non-import 550 ends tomorrow......

The BaT seller Simsimma listed the second Japanese imported 550 for sale....here is the breakdown....always interested in thoughts.....surprised this one went higher at $135k than the more rare Rosso Barchetta two weeks prior at $121k..

RNM for $135,000 on 4/30/22 out of Malibu CA (Listing this time said LA) on a South Dakota title.
1997 550 ZFFZR49J000108353 and assembly 25889
+) 78,428 kilometers, AKA 48,733 miles ASSUMED to be purchased by seller in 2019 when he bought and imported the other R/Barchetta 550 imported both to the US in 2022)
+) Grigio Titanio over "chestnut" ? "Nocciola" -- not sure I had seen that interior color before? Seller said Ferrari themselves called the color so I wonder if it was a custom?
+) Commenter noted the hood was slightly askew.
+) Maintenance 2/2022 -- timing belt service, fluids, and engine mounts.
+) Japanese market/frequency Pioneer head unit, standard seats, just like his other Rosso Barchetta import....looked pretty if not "no frills".
+) Allegedly no "stickies"; red master fob, tires date coded from 2019
+) 108353
+) This car was: https://bringatrailer.com/listing/1997-ferrari-550-maranello-18/
+) His last Rosso Barchetta 2 weeks prior was https://bringatrailer.com/listing/1997-ferrari-550-maranello-19/
+) I just noticed.....that's werid.....that the first listed imported 550 (Rosso Barchetta) was "#19" and the subsequent Grigio Titanio was listing #18. Wonder if there was a strategy to list the red car first......

Tomorrow we have another non-imported 1997 Rosso Corsa with lower (22k miles)....as I write this its at $150,000 with a little over 13 hours left......

 

Well that was fun today......we just saw an expertly presented (? - not joking) 550 on BaT ring the register.

I'm coming along to commentary by many of you that especially good ones need to keep going up.

The buyer has been buying several great cars -- god bless! https://bringatrailer.com/member/temptags200/ Hope he checks in with us.

SOLD for $231,000 on 5/20/22 out of West Hollywood CA on a Montana title (but with a recent CA Smog pass).
Same seller that sold @dhalperin13 one of his 575's.
1997 550 ZFFZR49A1V0109012 and assembly 25888 (ISN"T THAT FUNNY -- this car has an assembly number 1 digit from the last imported 550 on BaT I did the write up on yesterday).
+) 21,853 miles with reportedly 8 prior owners and a clean carfax
+) Rosso Corsa over "beige" the seats in the photos looked really nice
+) Commenter/winner noted: "has the car been in an accident? In the front view picture, the front bumper extends past the front quarter panels on both the left and right side (which is not common for 550’s)".
+) came with all the accoutrements; cover, seat covers, battery charger, red fob, some historical docs, etc.
+) ready for a belt service
+) Aftermarket Sony stereo; mufflers removed.
+) per the seller: "No sticky’s, no leather shrinkage, dash is perfect. The climate control panel is a little bubbly and could use attention".
+) 109012
+) This car was https://bringatrailer.com/listing/1997-ferrari-550-maranello-21/
+) historically sold at Fantasy Junction: https://www.fantasyjunction.com/sold/1997-ferrari-550-maranello/overview

This result for me was amazing given the historical prices for "investment grade mile cars". Guess many of us need to increase our "insured values".

 

You mean the little red alarm light that commenter simsimma called out?

 

Today we had a 550 that has been around the forum sell on BaT.

This 550 was previously offered by forum member @jstar out of Vancouver BC and was sold to our friend @Tarek307 https://www.ferrarichat.com/forum/threads/99-550-maranello-for-sale.640499/

Tarek then created a thread and within a very short amount of time he came to the understanding the "needs" list on the car and he sold it to a friend of his: https://www.ferrarichat.com/forum/threads/finally-bought-a-550-pics-some-questions.642928/

That friend invested significantly in all the catch up and "while you are in there's" and then he just sold it today (presumably for a small loss) on BaT at: https://bringatrailer.com/listing/1999-ferrari-550-maranello-14/

The last 30 or so days have been fascinating to me regarding the F-car market.

Within about the last month....we have seen.....
+) BaT Seller "Simsimma" bring 2 different imported JDM/Euro 550's and both RNM
++) $121k RNM 1997 non-federalized 53k mile Rossa Barchetta https://www.ferrarichat.com/forum/posts/148485016/
++) $135k RNM 1997 non-federalized 48k mile Grigio Titanio https://www.ferrarichat.com/forum/posts/148543050/
THEN....
+) BaT Seller "3pedalstable" had a no-frills, non-investment grade 22k mile but VERY well presented Rosso Corsa RING THE BELL
++) $231k SOLD 1997 22k mile Rossa Corsa https://www.ferrarichat.com/forum/posts/148544119/

Then today went the no frills but major maintenance investment (had been made already) car for only $132,500.....I would have thought this car was worth WAY more than the 2 non-federalized 550's.

SOLD for $132,500 on 5/29/22 out of La Jolla, CA on a CA title with a dated but expected to pass smog situation (lots to like theoretically)
1999 550 ZFFZR49A8X0113805 and assembly 31125
+) 51,291 miles with a clean carfax
+) Nero D.S. over nero standard seats had aftermarket metal shields put on during Tarek's brief ownership
+) Auction noted, "Records from 2021 and 2022 total more than $40k and detail services performed by Bobileff Motor Car Company in San Diego, California."
+) OEM Wheels with rear spacers on new 2021 tires
+) No stickies and dashboard was recovered in 2005
+) Aftermarket stereo with custom speaker enclosure on the rear shelf and seller noted "a whining noise coming from the speakers".
+) Tubi style exhaust
+) 113805
+) This car was https://bringatrailer.com/listing/1999-ferrari-550-maranello-14/

Part of me wants to know what my guy in San Jose would have charged for all that work Bobileff did (all that seemed low in comparison to "normal").

I don't know if the seller had a low reserve or made the call close to the finish line to lift the reserve but if it was the latter then I think he played his cards well. Given what we know (approximately) I would guess the seller might have taken a small loss at this level?.....but this is the right market and venue to send it to the next owner?

My gut is telling me that this car was a deal at the current market.....given the maintenance investment recently made......if it had a PPI and a compression/leak-down test then surely it was a good deal? Frankly I still can't get over the price paid for Nifty's (too low in my mind as well)...his was very optio.

Always interested in everyone's thoughts on this car, the result (which frankly I thought would have been higher) and I hope the buyer or seller checks in with us.

Be safe on the holiday tomorrow!

 

I’m making an assumption it cleared under cost. Only the seller and @Tarek307 know right now.

The friend Tarek sold to knew it was an investment flip I’m guessing some of the cost got higher (from an already inexpensive indy - Bobileff) and then the eyes were just not on that Nero/Nero auction like they were for 3pedalstable and his R/C which sold blazingly high for what it was (and needed a belt service).

lot of weird stuff still happening in the market and “resale red” worked on the other one.

 

I’m in the minority I’m sure but I like the shields….factory or aftermarket.

 

just one guys opinion…. I think In this market with all that Jay invested I think it was “strong to buyer” and as you noted “acceptable to seller”.

I like the car, I’d have thought given the needs on the federalized cars at the same approx mileage I would have expected the black/black to be $15-20k higher than the non-federalized Grigio titanio and $15k-ish more than the non-federalized Rosso Barchetta. Color and maintenance being factors.

Opinions may differ.

I was glad to see it on BaT and if anything the sale perhaps hurts the guy that was trying to flip the 2 non-federalized 550s?

 

Agreed, I was referring to the 2 non-federalized cars BaT seller “simsimma” was flipping.

 

The black/black federalized car should always be more valuable than non-federalized — the question is — how much more…..at least $10k if not more…..

 

One word - California

 

not kidding myself, I know there is a discount for non-federalized cars.

California is the biggest market and cannot be ignored regarding resale.

Euro cars (at least to me) seem…”low optioned” but agree perhaps more often “more interesting color combos”.

 

@dannyg I should have also asked….do you have an “ideal” color/spec you are looking for?

When I was hunting TdF was at the top of my “realistic” list but I bought a Grigio Ingrid due to “the total package”.[/QUOTE]