THE PRICES JUST KEEP FALLING DOWN ON 550 AND 575 CARS

Hi John:
Yes, I miss my Z8 and my 550. Beatiful cars both, but BMW dealer is an idiot. Miss my M5, SWB and Cal. But, another time, another life. 599 is as DM says. Used daily, other than too small gas tank 28g, it is great car.
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You leave my and the next generation out of your calculation only seing yours and the actual. And there is obviously a lot of bias in your post when it comes to maintainance cost. I could imagine to have both because they are so different. My 308 is a beatifull (in many eyes) classic making a lot of fun on small curvey roads. The 550 would be a car for journeys or maybe even everyday use. When I can only have one of both I keep the 308.

 

Lee, deadly gorgous. I had seen the interior pics you sent a while back but, wow, she is mighty fine.
J

 

I'm not sure which generation you fall under so I cannot comment on it.

As for the "next generation," I suppose that means me-- I'm 20. Since most tweny-year-olds aren't buying Ferraris yet, I assume we will be the next up to the plate. I know that the majority of bystanders-- Ferrari-savvy and not, old and young alike-- agree that the 550 is better looking than the 328/308. Of course, that topic is very subjective; I'm not surprised you like the looks of your 308 more than a Maranello-- there should be SOME people who like it more. It just happens that you are in the minority.

As per your performance comment, all I can say your view is shared mainly by those who haven't had any/much experience in a 550 in "twisties". As a matter of fact, the 550 is actually quite nimble and very agile. It's not as toss-able or 50-50 balanced as a 360, but it still inspires confidence and is, for most intents-and-purposes, as fast if not faster (and on a track, where it can actually use it's power...). It also makes long trips much better than the V8's, hence peoples' saying that they are better if one plan to take trips in his/her Ferrari-- not because it is LESS suited for back-roads. Of course, the experiences one gets from different cars is another subjective view, so of course you may indeed like your 308 more. I have no problem with that. It's just that too many people discount the Maranello's capabilities unfairly.

And why would I be biased towards the maintenance? I'm not. I know 308's and 328's can be significantly more expensive to maintain than 550's. RCraig's 308 had undergone a $16k servicing before he bought it. Find me a 550 that has had the same for normal maintenance.


Joe

 

No. I didn't mean you.

Interesting thing is: A car guy learns to like certain actual models, when he is about 10-15, but buys them, when he raised his child and has room and money for a toy in his life. That is between 35 (my age) und (more often 45). Thats because the demand starts to grow, when the cars reach a certain age.
E.G. I never seen the beauty in the Miura which is often labeled the best looking car. I like the looks of the Countach, but I'm sure younger people ownly see a odd combination of ankles ;-)

The 15k bill for the 308: Only when you buy a car that was not proper maintained or abused. Normally they run at 2-3k each year.

 

Joey good to see you here thanks for the advice the other night...I have made some new friend here and am getting some other info on the 550...

In regards to debate, I did have a time in the late 80's (I am 40) where I had a 328 last generation 1988.5 or so purchased from WWOC Nanuet...and this was a go cart..having said that there is no way I would by a 308/328 those were the days when F Cars were built like real cra* and up unitl the 348/55 it was still somewhat true...of course this is barring classic/vintage cars as those are another era/time

BTW 599 is it in my book Game Over, I have both driven and been in one and the shift speed is inanse.

 

WHY WOULD YOU SAY THAT THE 550 WILL BE WORTH MORE THAN A 575? I JUST STARTED TO COLLECT FERRARIS THIS YEAR AND DID NOT REALIZE THAT THERE WAS A 575 UNTIL MY 550 WAS DELIVERED (STUPID ON MY PART ON NOT DOING ANY RESEARCH). I HAVE NO REGRETS WITH THE VEHICLE AND DID NOT REALIZE THAT THE CAR WAS WORTH $200K NEW. I WAS THINKING ABOUT TRADING THE 550 IN FOR THE 575 BEFORE IT STARTED TO PLUMETT. I THINK ALL FERRARIS ARE PRETTY COOL AND EVENTUALLY WOULD WANT TO OWN ONE OF EACH MODEL. I AM CURIOUS TO YOUR OPNION WHY THE 550 WILL BE WORTH MORE OR WHETHER IT HAS HIT THE BOTTOM. I AM AN EXPERT IN PURCHASING A VEHICLE AT A CERTAIN PRICE AND SELLING IT FOR 50% OF WHAT I BOUGHT IT FOR (EXAMPLE: XLR-V $100K, SOLD FOR $56K WITH ONLY 100 MILES, 2004 PORSCHE TURBO CAB $150K, SOLD FOR $81K, BMW 760IL $130K, SOLD FOR $75K, LIST GOES ON AND ON, ESPECIALLY ALL OF THE MERCEDES BENZ THAT I HAVE BOUGHT AND SOLD).


GUSTAN
[email protected]

 

I will be pleased to buy your 550 or your Barchetta for 50% of what you paid for them.

Regarding the value of a 550 over a 575, I think Onno is predicting that the standard gearbox will be better over time, especially as the F-1 continues to evolve. There will likely be fewer problems with a standard 6 speed than an electronically controlled unit and repair and parts will be easier and cheaper.

 

I tend to agree, and ferrari has followed in this fashion with 1st series cars as well, the 308 the "glass" is more desired, the boxer, its the BB carb, the TR, its the single mirror....therefore, i would also think the 550 because it was taken to make the modern Daytona, would be the desired one eventually.

Now if only i can pick my Lottery numbers like this im good to go !

 

Anyone see the 2004 575 F1 that just sold on ebay? $106,100. It seemed like a nice car. Red/black, 14,800 miles, service records. The ebay number is 230196582888.

 

100% ebay scam-tHAT CAR WAS FOR SALE IN caL. ABOUT 4 WEEKS AGO AND WAS SOLD LEGIT-nEW SCAMERS WILL ACTUALLY HOLD A REAL AUCTION WITH OTHE PEOPLES PICS AND HOPE YOU WIRE THE FUNDS! soooo MANY SCAMS ON ebay!!

 

Really terrible. I had the same impression as Mark until I carefully read the ad. Too many misspelled words and talk about standard features with no mention of service records for a Ferrari owner... and the clincher:

Other Features: Tow Package

Scams like this do factor into the overall market, however. The car "sold" for $106,100, which is an indication of what the market thought was the value of this particular vehicle.

 

I don't think being offered a 575M with 10,000 miles for 116K is by any means typical.

I would love to know where I could find a low-mileage, pristine example of a 575M in a highly saleable color for 116K.

I don't think it's realistic to find a 575M with 10,000 or fewer miles in excellent condition for under 135K.

Certainly you won't find a rosso corsa red/tan or a tour de france blue/tan 575M for lowball money. If anyone can find one, pelase let me know.

 

Well Said.

S

 

There is an '00, Silver/Red, 28K, services done, 550 in the Houston paper for $87.5.

Dale

 

It's not just that, David, but also because it was the last stick-only car that Ferrari made, and because it is the first version of the 550/575 that will it likely (I say likely, no certainty) become a little more valuable. The analogy is the 365 GT4BB versus 512 BB and 512 BBi. The latter are more accomplished machines but the first was a bit rawer and a lot of people also like that in the 550.

By the way Gustan, can you switch off the CAPS lock? No need to shout, I can hear you just fine!


Onno

 

Isn't it normal for cars value to depreciate? Maybe it is exception after 30+ years or so when all the same model cars disappeared. Then your car will appreciate in value due to rarity. If you are looking to buy a Ferrari to ride the appreciation train, then maybe best to buy a red 308gts or early TR and wait for 5 to 10years.

But you like the late model Ferraris such as 550 or 575, then just buy it without worry about to see price just keep falling, as that is normal for car prices to depreciate.

 

Did anyone see that car or know anything about it's condition ? I would like to know if it had a salvage title or .... and would appreciate the phone number or ? re the owner.

 

http://www.benforauctions.com/

This is the dealer that ran the ad. I know nothing about them or the car.

Dale

 

Exactly

 

Well, I'm double your age (), could easily buy a 550/575, and like the 308/328 more. Much sexier car and a real, handmade sports car. I do think the 550/575 is the best looking post-1990 Ferrari, easily, and has great modern performance capabilities. But it doesn't have the impossibly low stance of the older cars, and it's not a living (rolling?) legend. I'd love to have one, but not in place of a 308/328.

I own a 328 currently, and apart from a major service ($4000) total repair/service costs have been <$1500/year, including some pre-emptive parts replacement ($400 coolant tank that looked bad but wasn't leaking). There will be costs relating to aging of mechanical bits, but to really compare we need to see how a 25-year old F1 gearbox in a 575M, for example, holds up.

I suspect that ultimately the early 308s and the 328s will be priced above the 550/575M, though that may be a decade away yet.

Miura is stunning. Biggest problem is you almost never see them in the metal, and they're too expensive and temperamental to drive often, but they're sooo low and they go on forever from nose to tail.

Agree with you on the $15K -- that's basically an engine rebuild in a 308.

+1 on the 308. -1 on the TR - the early ones don't get the love, and the styling doesn't work for a lot of people. I'd say the Boxer is headed for the appreciation train next, then the 308/328.

The 550/575M is a great car. It's just normal depreciation. I think the styling will hold up well over time, and ultimately its the appearance that drives the long-term value.

 

I still think Ferraris are overpriced in the USA compared to any other brand. I am about to move to the USA in mid-2008, and I've been looking on the internet for nice cars... and I was astonished how CHEAP everything older than 2 years is out there!!!! Except for Ferraris, of course... I cannot believe that anyone would pay the same money for a 6-yr old Modena as they would pay for a 3-yr old Lamborghini Gallardo (I found several hovering between $115K and $125K). Call it the power of the brand, but I don't really care - the Gallardo is a much more modern and better car than the Modena, at the same price it's really no contest.

And this thread on the 550/575 depreciation... I love these cars but again they are still way overpriced in the USA. In the whole of the USA I couldn't find a single 575 FHP, and the prices for the normal "softies" were higher than a Porsche 997TT and in some cases edging towards the prices of the cheapest Murcielago. Again I'm putting objectivity ahead of emotions, but I cannot justify paying the same price (or more) for a 5-yr-old-no-warranty-your-risk-if-it-blows-up 575M when a 2007 Porsche 997TT (faster, better handling and with full factory warranty) is available for a lot less money. And I don't dare ask what a genuine 575 FHP will cost...

I really love Ferrari with all my heart, but I'm afraid that when I move to Chicago I'll go for a Lambo or a Porsche. Why waste money when better cars are available? I think Ferrari prices in the USA need to have a big reality check, they're just out of any market sense.

 

Why don't you buy one in Switzerland and take it with you? When I compare the swiss market to the german market, the german cars seem expensive, too.

 

You have some good points but missed one huge thing: the US Ferrari market is not like the market in Europe or anywhere else for that matter.

 

It may be different but why? It's different-irrational, it makes no economic sense. Why tell me should I pay more for an old, out-of-warranty 5-yr old Ferrari with shady history when I can get a main-dealer, one-owner 3-yr old Lamborghini for the same price? It doesn't make sense. I'll take the Lambo thank you very much

About taking my F-car from Switzerland to the US: no point. The federalization process is one big headache, and I'd rather get a new Lambo!