@21ATS I agree with your and @Crocodon assessment. Seems like a good conversion candidate needs a clutch and has unique options. I had a private conversation here with a few guys on why not take the LA Nero/Nero 575 with accident history (129726) and carbon interior and in need of deferred maintenance and do it on that car. I've reached out to that seller and he is not in a rush to sell. A car like I just described with 40k or more miles in my mind needs to currently be priced low in the $60k-USD range and not sure the seller would let it go for that. A conversion car as a lot of hair on it.......EXCEPT for the one GTO Engineering already did in LA which in photos looks amazing and now also has our italian friends full exhaust on it so that one is an Alicorn of sorts.
Ah yes, I remember this one. I was actively looking for a 550 at the time and talked to the owner. I think I first saw it listed on Hemmings, but it was advertised on several exotic car sites. Euro conversion car with full carbon interior trim, but otherwise low options, and with some sketchiness in its history which the owner couldn't explain (nor could he explain the massive/funky front bumper gap/fit). I quickly lost interest. It did eventually go up on BaT, but was a no-sale (gee, wonder why...?): https://bringatrailer.com/listing/1997-ferrari-maranello/ Euro cars don't do well here in general. There's so little practical difference between Euro and US--spec 550s, there is/was no rational reason to go through the headache and expense of importing and converting a Euro car, when plenty of perfectly good US-spec examples were/are available. Anyway, yeah, this one's got too many stories. I would pass (again).
I should add that, at the time I seem to recall they were asking $120K for the car. Way too much then...and now.
@NE550 Dave the rabbit holes I've gone down here in the forum have been delightful. I'm going to send you a PM/Conversation asking a questions about your car. Appreciate your contributions -- Eric
@NE550 Dave thanks for that link, didn’t come up in my net search which is weird. When I had looked at the Reno photos I said to myself “are those shields applique? The BaT comments confirmed that....I am not yet educated enough to know the typical inlaid were perhaps not available in 1997. Very grateful - E ps regarding price/value, I also agree, not sure where I personally would put this one...maybe $90k....maybe less. As noted I’m not chasing that one just thought it was interesting given it’s backstory and the carbon which is rare.
Thanks, Alan! I hadn’t seen that one before. This was another that caught my eye: https://www.pistonheads.com/buy/listing/11127261 Not sure it’s very practical (racing harnesses and leather covered roll bar), but it’s certainly an unusual spec!
I do like azzuro california, but I prefer the car at Paul Bentley with regular seats and stick on shields (that could be removed). £95K is a crack pipe asking price, but everything that guy sells is the same. I guess he's sale or return so doesn't need to bankroll any of his stock.
Again, the comedy show at BaT continues. God Bless America for @atlshaver the crowd at BaT is hilarious. No joke, well done Bryan. Rosso Corso over "beige" $113,000 on 1/8/21 +) 550 Ser no. 117666 +) 2000 MY with 38k miles +) 575 wheels on the car, 550 wheels included in sale as well as original radio, daytona's, tubi's and original mufflers, COMPLETE DOCUMENTATION and tool kit, jack, etc. +) Belt service is due on the car. Our fellow F-Chatter had an 11 year experience with the car and spared no expense on the car spending a shocking amount on maintenance and using exclusively Ferrari of Atlanta. +) Semi-recent clutch replacement which is a big plus +) Atlanta, GA +) https://bringatrailer.com/listing/2000-ferrari-550-maranello-15/ +) https://www.ferrarichat.com/forum/threads/2000-550-at-foreign-cars-italia.276769/ I brought this car up in the forum using the f-chat link above. It wasn't a coincidence (for fun) I bid the price the car last transacted at (allegedly). It was amazing how much money Atlshaver spent over the years on this car and it seemed to show it in a good way. I built a spreadsheet one night when I couldn't sleep and there as a sizable stereo/radar line item and some cosmetics but total spent over 11 years was $85,822 over 11,222 miles that's $7.64/mile. If you take out non-normal expenses, stereo/radar and the clutch housing you get $70,503 and $6.28/mile. That's staggering but seller got most of it back given the sale price. I don't have any negatives in my mind on this car, maybe people didn't like the big sub behind the passenger seat but overall seemed like a real nice car. A few comments about the 575 wheels but I like that look. I will say I'm shocked that it closed at $113k since it needs a major (fully disclosed and discussed during the auction and on the last 2 majors the seller averaged a spend of $10k each time)......car was bought by a guy that has bought 3 other cars during covid on BaT (including an F360) so the "wealthy guys building a collection" comment seems to still stand true. Refreshing to see another car with driver miles, extremely well cared for and fully documented. Hope everyone finds these interesting/helpful. --Eric p.s. on a lighter note....my mother in law is EXTREMELY religious......if I told her the last 3 digits of this cars vin was 666 then I know I would not have had to drive her anywhere.....that alone resulted in me assessing a premium in my mental calculation for this one ;-)
Despite needing a major service, a $113K sale price seems "in the ballpark" for a 550 with this mileage and condition, given rising 550 values of late and prices other 30K+ mile Maranellos have fetched recently on BaT. Prices are still down quite a bit from when I was looking 4 years ago, so it's all relative. Recent rising prices are definitely bringing out sellers who may have wanted to sell their Maranello but didn't want to sell into the down market over the last couple of years. As for buyers, hey, if you've got the itch...and the scratch...why not scratch the itch! If there's one thing the pandemic has brought into focus for a lot of people, its YOLO. So, it stands to reason guys would be willing, even eager to pony up for the car(s) of their dreams now vice wait for the "right" time to pull the trigger. Now IS the right time! And let's qualify "rich", a highly relative/subjective term if there ever was one. Certainly people "of means" are buying these cars, as you'd expect would be the case with any $100K+ car. But are they all Warren Buffets? Doubtful.
Dave I agree. Lot of guys with "YOLO" (heck I'll put myself in that bucket)....and many of those guys need a place other than the stock market to put cash. It is 100% a sellers market on BaT. Its fascinating. I'd consider Atlshavers car "one of the good ones"?....It would have been interesting for him to offer it here on F-Chat first but lets all be honest, the funny money running around at BaT would likely not be paid by guys on here. We all have differing viewpoints on what something is worth. I liked that car but my personal value estimate would have been way inside where it sold. BaT allowed the owner to get "all the money" and good for him. For me personally I'd need to see the "funny money" guys have their appetites satiated before me buying....maybe American wealth is so robust, that inflection point will be a long way out? I'm spoiled with a lot of toys and am still loving the hunt so I hope my "inflection" point happens at the right time and if I have to wait, I'm patient. .
Yes I was kind of bummed that a guy throwing money at BaT drove that one up, hence my comment. I bid what I was willing to pay for it then stopped.
I’m just so cheap I’m also against paying a BaT fee!....and I really can’t imagine not doing a PPI even on a car with as much maintenance as that one....I’d want to know the bill for the belt “and while your’e in there’s” before dropping $100k. To tie back to Dave’s comment @NE550 i’m economically fortunate but not wealthy where I can throw around that level of capital without in-person due diligence.
I was ok at a certain price without a PPI given the history and that it's been seen by FOA every year (and had everything found, done). That being said it hit a price high enough that, with things like a track history, respray, unoriginal flashlight, etc, I was willing to continue looking.
It'll be interesting to see how far the price rise continues this time before it peters out. In the end it's always a supply/demand equation, and at some point it'll reach a saturation point where there are more Maranellos for sale than there are willing buyers, and prices will level out and start to drop. Maybe this will happen later this year, maybe things continue into next year. Or the next year. We'll see... In the meantime, the best cars (or best perceived cars) will always bring top dollar relative to the current market. Serious buyers of these things are usually pretty discerning (despite a few head scratchers here and there) and will pay up for the right cars. I still wouldn't personally buy one sight unseen, don't care how many hi-photos and videos get posted. Gotta lay eyes and hands on it for real. But some people don't seem to care, so, hey, you pays your money, you takes your chances. Seeing one in person, though, getting to drive it and see in the metal what it's like, and depending on what options/colors/etc I might prefer, I'd jump right on a good car. Of course, YMMV.
"Gotta lay eyes and hands on it for real. But some people don't seem to care, so, hey, you pays your money, you takes your chances." ***** I fall into the "some people" category. I "shopped" online for 6-8 months looking for a 575M gated, FHP, Red over black. Sent money by bank transfer, flew halfway across country, arrived a dealer 20 minutes before closing. First time I had ever sat in a Ferrari was when I drove it out of the lot and headed home. Because of work commitment, I drove 1300 miles with only gas and BR stops. Heavy ran started in NYC and snow in TN. Fun times!
**** The best part of the the "test drive" was when it was pouring ran and I was in the wrong lane on the Cross Bronx Express Way, had to exit and end up in the South Bronx, no Nav, no Map. #Bonfireofthevanities!
I asked to see the car but he couldn't make time in the entire week for me to. I asked about day 1 of the auction.
Hey all, Really been enjoying the dialog on this thread and learning a lot. Here is a bit of an update on my journey: As you might remember, I purchased an 04 575m with 16k miles on BaT in mid-Nov. It took forever to have the car shipped from Driversource in Houston to Vermont, but the car finally arrived in mid-December at Restorations Performance Motors - a well-regarded Ferrari shop here in New England. Last week, RPM was able to do an inspection and test drive. Below, I am listing out all the items identified that need to be addressed: 1. Belt Service -aux belts -timing belts -tensioners -idler bearings -cam and crankshaft seals -Valve cover gaskets -intake gaskets -valve lash check -spark plug replacement -engine oil+filter replacement -air filter replacement (if needed) -coolant flush - repaint the cover (crackle has flaked off in a few places) 2. Suspension work: replace shock tower mounts replace lower control arm bushings new tie rods and boots alignment 3. Replace power steering hose 4. F1 gear oil flush Some good news is that the brakes are in great shape. In addition, the stickies don't seem to be much of an issue (not sure because it has been cold here, so may be hard to tell). Electronics all seem solid. I would love folks feedback on the above. Anything else I should have RPM looking at? Any obvious omissions? Thanks!
ICYMI, this Nero Daytona/cuoio 15k mile '98 550 hammered sold at Mecum Kissimmee yesterday for $159,500 (including auction fees). Photos are sparse, but appears to have some nice options including carbon interior trim and racing-style seats. No shields. Overall condition hard to determine and there are some of the typical interior issues evident, like bubbling steering wheel airbag cover and dash top surface, and bubbling HVAC control face. No word on maintenance/service history or what might or might not have been addressed, so good bet that whoever bought it will be looking at addressing many of the usual issues these cars have. Strong result for this car, and the rising 550 market continues. https://www.mecum.com/lots/FL0121-452260/1998-ferrari-550-maranello/
I got a text from one of our fellow F-Chatters.....I thought this one hammered at $145k....oh I see the $159,500 is including fees. Isn't it surely only the ultra wealthy that want and don't care about price that would pay that price and fee to transact without just buying in the private market? I'm still of the opinion that 550 prices are not on the rise as much as its "all over the board generally" due to very wealthy guys throwing around excess cash looking for hard-asset places to put funds. Once the "noise" settles and the hunger is satiated we should see a stability in pricing appear? That specific car had racing seats and carbon for a 550 that is rare so it should have garnered a premium but that much seems crazy. Where is EZ2SPD and his BaT listing.....that one still should be a "top dog" on the value watch. With all that being said, anyone that has a 550 for sale, this is a strong sellers market for certain. Guys are buying out there with no PPI, no inspections, no nothing. Its comical.
Anyone who is too lazy / doesn't love his car enough to fix these issues, has probably not bothered with a lot of the things you can't see. Buyer can look forward to spending $$$ on this car IMO.
Just noticed this If the water hoses in the vee have not been changed (prone to splitting) they should be as they are most accessible during a major service Similarly motor mounts have limited life and are quick & cheap to do now Also tire dates & wear should be confirmed
If it’s anything like the gated 430 market on BAT, people are buying these complex cars on this platform with no warranty or PPI, when there are alternatives available from reputable dealers in as good/better condition with warranty and PPI opportunity, for less money. Because, uh, because...because? A sinister dark force invades your brain when you register to bid? I haven’t worked it out.