Market Prices 575 Manual vs 575 F1 (conversion costs) vs 550? | Page 65 | FerrariChat

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

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

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  1. tazandjan

    tazandjan Three Time F1 World Champ
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    Jul 19, 2008
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    Car actually appeared to have the mileage changed at some point.
     
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  2. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    It sure felt like it. Even @Condor Man had noted last time it was on pcar market that it just seemed odd and I agree. Not sure how some of the wear items (shift knob/parking-brake, etc) could take that abuse unless it was monkeyed with or was a rental?
     
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  3. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    @Jaredsalinsky regarding that Japanese 550 with luggage….light options…driver miles…not ok for the biggest market (CA) I get that it’s already at $130 but why would that garner even $150?

    Sure it may go for more but why buy a driver Japanese 550 for more when you could get a better optioned US car with similar miles and still include CA….

    So much weird stuff going on and it’s not just at C&B…..
     
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  4. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    #1604 Ferrari55whoa, Apr 1, 2024
    Last edited: Apr 1, 2024
    @Jaredsalinsky case in point….and just now some “real person” who has never made a comment BUT did win 1x on BaT in the past….just jumped the bid from $130 to $150…..7 days remaining ….and for a “driver”…..

    God bless America I guess.
     
    Jaredsalinsky likes this.
  5. otoupalik

    otoupalik Formula Junior
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    I don’t agree that the car is worth only 130. These are limited availability and fit an emotional want for buyers. A driver mile car should be around 200k and a collector car 300k+ imho. Many sales support this. Sure some have been deals but there are reasons.

    is a 300k 911 turbo. Better car? lol. Hell no.
     
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  6. Jaredsalinsky

    Jaredsalinsky Formula Junior
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    I hear you. I was thinking more because of the color, and the luggage, and even the presentation, combined with the limited availability and relatively low miles, and combined with the recent uptick and sales over the last 24 months, that it might get to $200,000. (my English teacher from high school would be horrified – that was completely run-on sentence!)
    I get being competitive, and even trying to have an edge, but flat out cheating and unethical behavior just piss me off to no end…
     
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  7. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    Today was a strong result on Cars & Bids for a 2003 575 F1 that had repair history off of (i.e omitted from) Carfax (not a surprise).

    https://carsandbids.com/auctions/rJvR5aZO/2003-ferrari-575m-maranello

    Low miles helped and of course resale red ;-)

    I'm typing on the computer and then will edit from my phone and attach a comment from the seller about the cost of an OEM package for conversion from Eurospares.

    2003 575 F1 SOLD at $116,500 -- Reserve was met at $105,500 -- final result was much stronger than I had anticipated (albeit a nice car)
    +) VIN ZFFBV55A330132359 and Assembly 49439
    +) 12,750 miles as of 4/15/24
    +) car had been historically discussed here on Fchat as having front end damage repaired. Seemed like a perfect car for a PPI prior to purchase.....
    https://www.ferrarichat.com/forum/threads/has-anyone-tried-to-buy-this-575m-in-the-last-6-months.195287/#post-137659126
    +) nice interior, daytonas with contrasting inserts that matched the instrument binnacle and steering wheel. Leather shelf.
    +) Capristo's with "hyper-flow" cat's
    +) Seller provided paint meter readings showing the front end/hood had been painted. Seller seemed forthright.
    +) recent major service and sticky buttons handled (Feb 2024 @ $12,966).
    +) one black key fob, looks like the key tag was present. Red ferrari seat covers present.
    +) Passed CA Smog in Feb 2024
    +) Variety of service docs included.
    +) Clean carfax so while there was a lot of chatter about the car's history, it seemed to present well (had some leather repair as well and interior looked good from what I could see).

    Nice car, just a positively high result for seller given Assembly # prior to the 575 evolutions at #52556 and clear historical work (even if modest and a PPI resulted in no frame/front end issues).

    While there was talk during the auction regarding the potential for conversion, not sure if at this price it would make sense....perhaps better to just buy and enjoy.

    Hopefully the buyer will join us here on the forum, nice car and a sign of strength for the 575 market as spring rolls on.
     

    Attached Files:

  8. otoupalik

    otoupalik Formula Junior
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    it ALWAYS makes sense to convert to 6MT!
     
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  9. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    I don’t know! ;-)
    I don’t have the room and already too many race type toys but I dream of a @SteveVT or @dhalperin13 BaT result for something with hair as a track toy…..the F1 would be great for ripping along at Laguna Seca or Sonoma.
    #AlwaysDreamin
     
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  10. tazandjan

    tazandjan Three Time F1 World Champ
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    Jul 19, 2008
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    An F1 575M breathed on by Fabio and Trev with an HGTC TCU is a thing of wonder.
     
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  11. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    #1611 Ferrari55whoa, Apr 15, 2024
    Last edited: Apr 15, 2024
    that combo in the hands of FBB or @308 GTB could embarrass a lot of folks ;-)
     
  12. Aerosurfer

    Aerosurfer Formula 3
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    At those prices and that car, there seems to be just no wrong way to eat a Reese's
     
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  13. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    This lovely 2000 550 came back to BaT and was RNM today at $202k https://bringatrailer.com/listing/2000-ferrari-550-maranello-42/#comments-anchor

    Since the last BaT appearance it received a major belt service. Sold last 9/9/22 for $191k.

    ZFFZR49B000119552

    The car had been federalized in 2001 and was currently located in Canada but the selling dealer noted they would bring it to WA state and handle the paperwork for a winning bidder (again RNM).

    A lot to like on the car. Strong result. See the original post I wrote for more details (by clicking the up arrow by my handle).
     
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  14. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    Btw I think I’ve mentioned one of my perversions is being the 5th thumbs up to turn a comment yellow on BaT!
    I’m on a roll! @Chupacabra @p1turbo @otoupalik
    ;-)
     
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  15. Chupacabra

    Chupacabra F1 Rookie
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    Ha! Glad to serve up a fat one for you to spike!
     
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  16. JohnnyRay

    JohnnyRay F1 Rookie
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  17. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    I’ve been at a softball game but will put up a breakdown later on.

    I just cannot imagine spending that kind of money without a PPI…. That’s for the land of men with excessive inseams and cubic yardage of cash (god bless).

    in time all manual Maranellos should be over $400 but for now, it would have to be pristine for a collector or why spend the money when you could convert an F1 and enjoy a driver.
     
  18. JohnnyRay

    JohnnyRay F1 Rookie
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    You may have missed my comment

    "– you can only bid with confidence if you go see the car in person and have an independent professional perform a comprehensive PPI. Otherwise, bidding online is gambling. Some win, more lose. On the other hand, this is a 6 speed 575…so may be worth a gamble if you truly want one…"
     
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  19. Chupacabra

    Chupacabra F1 Rookie
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    My take on that car:

    I think over $300k for a Maranello is excellent money. $330 with fees is, IMO, a good result in the current market. Should have been a sale.

    That said, I think the car is a boring spec. I think the lack of shields (flame away, I care not!) and the exterior color are a bit plain. The interior, while a cool oddity if original, is not to my taste and would definitely keep me from bidding. The absence of service, while apparently quite the bane to others, is not as big a deal to me as that particular example just not delivering the feels.

    But that’s me. Still a nice car and it could probably be sorted easily.
     
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  20. otoupalik

    otoupalik Formula Junior
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    Sorry was out on the mtb all day.

    that seller was a joke. Bad attitude, snarky and trying to game the market with a car that was not ready for prime time. If it had been offered ready to drive, it would have gotten close to 400k imho. This is not a rational thing, but the trend analysis clearly shows that 550/575s offered ready v needing majors+ do much better than the cost of the needed work.

    as prices jumped recently, greedy sellers who don’t understand the niche are trying to capitalize with cars that have been in storage or sitting. It’s just slimy used car tactics. BAT is an educated buyer pool though, and it almost never works.

    I love that the seller took dogs at me personally as being unknowlegable and wrong, yet the result is just what I said it would be. He also made some factually inaccurate statements about the car. Just didn’t understand the market or the car, but he had “80 Ferraris for sale” lol - good luck with that!
     
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  21. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    I did see your comment and I wholeheartedly agree.
     
  22. Ferrari55whoa

    Ferrari55whoa F1 Rookie
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    This week we had another true 6MT 575 listed on BaT ENDED RNM.

    Seller early on noted "No unrealistic reserve expectations or a disappointing finish here, the reserve is set low so please bid with confidence!" Perhaps the final hammer was close to the reserve....?.....will be interesting to see if the final bidder and seller can come to an agreement on final price post-auction.

    https://bringatrailer.com/listing/2002-ferrari-575m-maranello-33/

    A LOT of us were following this one closely and commenting
    @Chupacabra
    @otoupalik
    @Ffre92
    @wrgray68
    @Clyde Romero
    @docapl
    @Qksilver
    @NE550
    @JohnnyRay

    +) I don't know @johnnyb11
    +) I don't know @scheherazade
    +) I don't know @pb_911 had several comments and is either a wrench or an experience home mechanic
    +) I can't recall who @compressor is on BaT
    +) nice big post by @brettlagged (maybe from the 612 subforum)
    +) @drxray noted 575 6MT owner had some positive commentary

    2002 575 6MT RNM @ $324,000
    +) VIN ZFFBV55A620130426 and Assembly 47636
    +) 14,472 miles as of 4/20/24 listed in NJ on a NJ title
    +) Grigio Titanio over grigio scuro
    +) IMO attractive interior with unique quilted tunnel and area behind seats (presumably a $2,256 "special option" on the Monroney) along with the parcel shelf, handsome daytonas with contrasting inserts and piping, colored upper dash, colored steering wheel
    +) riding on modulars not originally with the car
    +) airbag area had leather bubbling
    +) car had not been serviced since 2015, current owner had only put 200 miles on the car
    +) @redgrayel had noted that the car was also RNM at Bonhams this past February (didn't know the level it reached)
    +) needed sticky buttons addressed; TPMS light was illuminated
    +) Car MUSt have had paint work since the meter readings in areas were so high
    +) I don't believe the owners manual was included and 2 keys and 2 fobs but seller didn't clarify if the Red Master was included.

    OPINION: many have stated, surely a PPI is money well spent when going this heavy with a car with deferred maintenance. I know many believe especially @otoupalik (and its valid) for the BaT platform that these sellers should be providing fully serviced cars. That strategy proves out stronger sales results.
    My own personal situation is, I'd rather PPI and then invest the money to get the car where I want it with my mechanic BUT my viewpoint is NOT what BaT is all about. If you sell there, you have to come clean, prepared and ready to rock with guns hot.

    SERVICE AVAILABILITY -- I would share that Tuesday of this past week I stopped in to see my Silicon Valley indy mechanic and I'm not exaggerating when I tell you between his two buildings he might have had more than 70 cars in states of repair or waiting for repair. In some major markets, "getting with the right guy" is an exercise in patience (and I'm personally ok with that). @Rifledriver and others have noted, anyone worth their salt has a strong backlog and tending to the list of needs on this car would surely have taken some time (in lieu of being "connected").

    NOTES: within the past year there were two other OEM 575 6MT's on BaT and this site continues to bring the most eyeballs.
    +) 9/5/23 SOLD $400,000 19k mile 2003 https://bringatrailer.com/listing/2003-ferrari-575m-maranello-6/
    +) 6/5/23 SOLD $410,000 2,600 mile 2004 https://bringatrailer.com/listing/2004-ferrari-575m-maranello-13/

    ADJACENT TOPIC == this week we have NGSC Dan's historical EAG converted 575 on BaT so that will be fun to watch.
     
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  23. Chupacabra

    Chupacabra F1 Rookie
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    Given the completely unpredictable way of things over at BAT, it would not really surprise me to see it fetch more than the factory car :)

    I was bidding on a 188k mile 993 last week. Kinda iffy compression test, but probably a good driver. It went, with fees, for $85,000. There are cars with nearly a quarter the mileage on auto trader RIGHT NOW for not much more. ????

    At any rate, I think the 575 ended where it should have price wise. I still think, had it been TDF/Tan for instance, or even just another interior color under the silver, it would have fared better.
     
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  24. wrgray68

    wrgray68 Karting
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    I personally didn't like the interior in that car. So the color combo probably narrowed the bidder pool. I know from personal experience that car could have a laundry list of things that need attention having gone that long without service. Too many question marks to bring top dollar. I thought they should have sold it at the high bid, I don't see them getting a better offer unless they put some money into it.
     
  25. otoupalik

    otoupalik Formula Junior
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    We have a titanio so I like the color. I do not like the grey interior.

    I am quite sure it would have gotten close to 400k had it been perfect when offered, especially with the special interior, which makes it so so rare. You can always wrap it if you want to change the color, but the scarcity drives the price.
     
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