US Spec. 599 GTO Marketplace | Page 10 | FerrariChat

US Spec. 599 GTO Marketplace

Discussion in '612/599' started by tortesq1, Sep 18, 2015.

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  1. Lottacars

    Lottacars Rookie

    Nov 29, 2007
    14
    Hinsdale, Illinois
    Full Name:
    Gary Kachadurian
    Thanks. Just went to website. Can see the flecks on some pics. Must be gorgeous. I will call them to see what trade I can get on my '10 458.
     
  2. defros

    defros Karting

    Aug 25, 2004
    126
    Beverly Hills
    Full Name:
    Dima
    I have been considering buying a gto for a while now. The recent supply has been great, but the prices are all over the place and it does not seem like the inventory of cars for sale is moving. Does anyone know of a recent sale? Really would like to know what these are actually selling for. I am not looking for a garage queen, since I plan on driving the car and enjoy it.
     
  3. Traveller

    Traveller F1 Veteran

    Apr 10, 2009
    6,323
    UK
    Full Name:
    Tim
    Interested to note that GTO prices in the U.K. have somewhat collapsed, asking prices down about £150k to £695k for rare RHD cars, and not moving. Is it the same in the US?
     
  4. Nelsonc275

    Nelsonc275 Formula 3

    Sep 27, 2013
    1,626
    Asking prices are ranging from high 600's to around 800, but cars are sitting for a while so who knows that they are actually being sold for. I would say its probably fairly similar to what is happening in the UK market.
     
  5. defros

    defros Karting

    Aug 25, 2004
    126
    Beverly Hills
    Full Name:
    Dima
    I have been watching the same cars sit for months with no reductions in the asking prices. Since I don't know of any recent sales, it is hard to gauge where the market is on the GTO at this time. Does anyone know of a US GTO selling in the last 4 months?
     
  6. nads

    nads Formula Junior

    Jun 4, 2008
    875
    London, UK
    Those high asking prices were never realistic and were hail mary's at best. I would argue that the real GTO prices have been somewhat stable for a while around the £600/650k mark with 'serious' low baller bids around £550k mark.
     
  7. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    FWIW there are always more GTO's for sale in the winter than the summer (in my experience). To the best of my knowledge there were 13 GTO's for sale publicly approx. 3 months ago. Now there are approximately 8 for sale. Yes mine is still for sale and I lowered the price from $775,900 to $745,900 through F of LI. Yes AP's prices have come down about $100K in the last 12 months or so but when the current inventory is sold, whether in 3 months or 12 months, GTO prices will slowly start to rise again. Don't quote me and my #'s or info. might be off a bit but the 5 GTO's that sold in the last 90 days (or they were taken off the market) include 3 at Marshall Goldman with AP's of $899K (700 miles), $879K (1800 miles) and $745K (2600 miles), one at F of Newport Beach for AP $769K (3500 miles) and one at Lake Forest for AP $749K (6300 miles). Of course I have no clue what the actual selling prices were and my educated guess is probably within 5% or so of the AP and if the AP was fair maybe at very close to the AP. For those looking check out websites at dupont registry, autotrader, cargurus, cars, etc. Good luck finding the GTO of your dreams !
     
  8. Stevenb

    Stevenb F1 Rookie

    Aug 5, 2012
    2,799
    Los Angeles
    Full Name:
    Steven
    Pm Sent. I have a low priced red/black available
     
  9. [gTr]

    [gTr] Formula 3

    Mar 11, 2008
    1,024
    Hamburg, Germany
    All these asking prices seem higher than your pristine GTO which has been consigned at an authorized dealer for a few months now and has not moved. Makes me wonder if the spread between AP and selling price is more than 5%. It would be interesting to know what the trade in value of your GTO is.
     
  10. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    The simple answer is that IMHO nobody is buying (or not buying for that matter) a pretty rare exotic/collector type car in the approximate $700K-$800K range and quibbling over $25K or even $50K IF they truly love the car spec. The key is loving the spec. My GTO spec. is very conservative and not in your face with a racing livery or bright colors. I'm sure eventually someone like me will fall in love with her.

    If you are a dealer who only focuses on making a buck (nothing wrong with that) and you want to resell to an end user (ie. the trade-in value) all I can say is that I have been offered much more than I paid for my wailing banshee. Lets see if we are having this conversation in June/July when the weather gets warmer here in the Big Apple.
     
  11. [gTr]

    [gTr] Formula 3

    Mar 11, 2008
    1,024
    Hamburg, Germany
    Not a dealer at all, just a Ferrari lover and a fan of your lovely GTO as well as your candidness.
    According to me your GTO has a great spec and I had expected it to move rather quickly. To me your car not moving and these others moving at a higher price is a bit of a conundrum. But then again, with such low volumes one can't really read too much into the data.
    Cheers and best of luck with the sale of your car :)
     
  12. Jimmy3993

    Jimmy3993 Karting

    Oct 31, 2016
    147
    San Antonio
    Full Name:
    Jim Augustine
    ugh. I really shouldn't have clicked on that link... Im struggling to get in to an early year gtb and those pictures have just ruined me! Great looking build. I'm not the target market sorry to say but that is a beauty.
     
  13. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    I can't lie to you. There are countless times I'd just stare at her in my garage perusing over the GTO lines in utter amazement. GTB is beautiful too but the GTO is just extremely special and appealing to the eye. All you need is your favorite beverage and a chair and its incredible how long you can stare at her.
     
  14. glob1971

    glob1971 Formula Junior
    Silver Subscribed

    Jul 3, 2011
    442
    Czech Republic
    Artcurial and Sotheby's sold 2 599 GTO this week at Retromobile in Paris. First sold at 450.000€ with 17000 km, second sold 510.000€ with 12000 km- including auction fees. Obviously market price of 599 GTO is dropping at least in Europe.
     
  15. Veloce12

    Veloce12 Karting

    Aug 19, 2006
    154
    Southern California
    Full Name:
    Brady
    Wow, huge drop!
     
  16. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    Seems to me that there are 2 primary reasons: 1. these are high mileage (compared to average US spec) GTO's and 2. the US dollar is extremely strong relative to the Euro and BP. In July 2014 when I bought my GTO the Euro was approx. 1.36 and BP 1.71 vs. the US dollar. So take these sales figures and extrapolate to when the Euro/BP were stronger and you get figures similar to US market prices. FWIW IMHO if POTUS/Congress can lower income taxes including CGT's it will only help the US market. A 7500 mile GTO selling for the equivalent of a 1.36 Euro would be $693K US dollars (as opposed to $540K US dollars at current exchange rates). As the Euro is so weak now (1.06) compared to the US dollar the sales #'s seem ridiculously low. If the Euro goes back up to 1.36 (inevitable just a matter of when although a 25+% swing is significant) there will be relative parity is US spec/Euro prices (again). Anyway thats my take on things and why there are a plethora of US buyers looking to import, inter alia, classic/collector cars from Europe.
     
  17. Vanquish80

    Vanquish80 Formula Junior

    Aug 1, 2011
    256
    Germany,Switzerland
    Hi gents,
    there's a white 2010 GTO for sale at Tom Hartley in UK currently for 530,000 Euros.
    Car has 15,000 miles.
    Is this what you call high mileage?


    Gesendet von iPhone mit Tapatalk Pro
     
  18. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    For a US spec GTO the simple answer is yes and it would be, far and away, the highest mileage GTO I have ever seen for sale in the USA. Kudos to the owner(s) for enjoying her.
     
  19. Vanquish80

    Vanquish80 Formula Junior

    Aug 1, 2011
    256
    Germany,Switzerland
    I'm sorry, I missed the "US specs" in the thread title.

    Car has Euro specs including roll bar and has been originally delivered to Monaco.
    It seems to be the lowest priced (non damaged) GTO on the market by far currently.

    What was the MSRP for the GTO in Euro?
    340k?


    http://www.autotrader.co.uk/classified/advert/201610108626819?advertising-location=at_cars&onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&sort=sponsored&make=FERRARI&model=599&price-from=250000&body-type=Coupe&year-from=2000&year-to=2012&minimum-badge-engine-size=5.5&postcode=ec3a7bx&adPos=1


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  20. Makuono

    Makuono Formula Junior
    Silver Subscribed

    Feb 15, 2014
    998
    Full Name:
    Ricardo


    Beautiful GTO.

    On the odometer-set in km, says 15000. I wonder if the ad is right about the 15000miles.


    Sent from my iPad using Tapatalk
     
  21. glob1971

    glob1971 Formula Junior
    Silver Subscribed

    Jul 3, 2011
    442
    Czech Republic


    This car is for sale for almost one year, while Dick Lovett, Amari Cars sold many other GTO's since. I suspect there is something wrong with this one, cheapest GTO for sale in Europe.
     
  22. Vanquish80

    Vanquish80 Formula Junior

    Aug 1, 2011
    256
    Germany,Switzerland
    I was assuming the car could have had a crash in the past.

    Any chance to find out here?


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  23. Luigiscuderia

    Luigiscuderia Rookie

    Nov 7, 2016
    10
    ITALY
    I own a 599 gto (scuderia red with shiny black roof and wheels) with 4960 kms. I am actually selling it but i haven't advertised it openly on the net (at least so far).
    I personally can confirm you that there is interest here in Europe in the GTO, specially for low mileage and pristine cars, but you have to find the right owner (too many dealers and brokers who pretend to have the right customer just to take some pictures and see if the car really exists).
    It surprised me that those 2 cars at the auctions sold for that amount, in particular the first car with 17000kms for just 450,000 eur. I do not know anything about its conditions though... and conditions and history with these cars do really matter.
    Btw 530,000 eur with 15000miles seems a reasonable price for the car above mentioned, if it is well kept.
     
  24. of2worlds

    of2worlds F1 World Champ
    Silver Subscribed

    Apr 6, 2004
    16,445
    ON
    Full Name:
    CH
    #249 of2worlds, Jun 24, 2017
    Last edited by a moderator: Sep 7, 2017
  25. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    For anybody looking for a black on black US GTO I just listed mine in the Ferrari ad section (by owner) for $667,500.
     

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