Valuing a High Mileage 550 | Page 4 | FerrariChat

Valuing a High Mileage 550

Discussion in '456/550/575' started by Texas Forever, Feb 5, 2024.

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  1. Ferrari55whoa

    Ferrari55whoa F1 Rookie
    Owner Rossa Subscribed

    Dec 21, 2005
    2,796
    Los Gatos, CA
    Full Name:
    Eric
    I feel like an idiot for not taking my savings and at the start of COVID buying as many 550's and 575's I could get my hands on.

    I continue to think several times a week about what a hero @dhalperin13 and @Mellow_Maranello and @SteveVT were with their purchases.

    I can only hope that F1 575's never come back to those levels......I have zero storage space and "stretched thin spousal patience" ;-)

    ps. I want that white FF on BaT right now....badly....problem I'm not selling whats in the garage at the house.
     
    F456M and Texas Forever like this.
  2. F456M

    F456M F1 Rookie

    Jan 8, 2010
    3,673
    Oslo
    Full Name:
    Erik
    Why not just sell the house instead? Rent a flat for 3 years, drive around the world two times (and you don't need a house at those times) and get investment cars and sell them and buy a smaller house if market goes down. Risky business. Buy hey, life is short. A big percentage dies of cancer and other things. Just don't buy a boat. It is the best way to become a millionair. If you start as a billionaire.
     
  3. Shopcat

    Shopcat Karting

    Nov 14, 2015
    84
    NLA
    If we have a time machine Im picking up manual murcis pre covid, also looking for one of those now but waiting has cost me more than a 550.
     
  4. F456M

    F456M F1 Rookie

    Jan 8, 2010
    3,673
    Oslo
    Full Name:
    Erik
    I want a manual Murcielago.
     
  5. Ferrari55whoa

    Ferrari55whoa F1 Rookie
    Owner Rossa Subscribed

    Dec 21, 2005
    2,796
    Los Gatos, CA
    Full Name:
    Eric
    I just want to rent one for a day….
    To get in the Lambo huracan STO i had to take my helmet off. #NotForBigOrFatGuys?
     
    F456M likes this.
  6. Doug.

    Doug. F1 Rookie
    Silver Subscribed

    Apr 16, 2004
    3,145
    Las Vegas, NV
    Administrative guy at the university inputted the wrong class info for my last class in my undergrad program, when submitting to the VA for my GI Bill.

    I get a letter from the "VA Debt Management Center" a month later saying I owe them $3,725 for tuition, books, stipend.

    I submitted all evidence proving the mistake and that I did not withdraw/drop the class and they sent me a letter back saying pay us or we will take your benefits away.

    Paid them to avoid losing money I rely on.

    Took two years for them to unf*** themselves and pay me back.

    One stupid f***ing detail mis-typed by some uncaffeinated assistant jagaloon and I'm out $4k just like that. I'm just a working class guy here, it was a big deal.

    I'm 117/120 credits and F them I'll be one class shy of my degree for the rest of time I don't care. College is a waste of time anyway, especially for a business degree.
     
    Texas Forever likes this.
  7. wbklink

    wbklink F1 Rookie
    Silver Subscribed

    Sep 2, 2009
    3,342
    Los Angeles
    Full Name:
    Bill Karp
    OK getting back to the original question about the value of high mileage Ferraris ...I believe I can help what we are talking about here is my 1998 550 with 93,500

    I have owned it for the past 15 years it has been dealer serviced since new.


    This car is absolutely perfect needs nothing this is the way I have maintained it through my15 years of ownership the fluids have been changed every January all the fluids
    the last belt service was about 2000 miles ago most of you know my car so if there are only questions fire away…..

    Here are the most recent photos when I got the car back from Dave at Premier he had to fix a scratch on the passenger side rear fender. Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
     
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  8. Ferrari55whoa

    Ferrari55whoa F1 Rookie
    Owner Rossa Subscribed

    Dec 21, 2005
    2,796
    Los Gatos, CA
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    Eric
    Gorgeous
     
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  9. wbklink

    wbklink F1 Rookie
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    Sep 2, 2009
    3,342
    Los Angeles
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    Bill Karp
    Thank You Eric :)
     
  10. Fjothree

    Fjothree Rookie
    Rossa Subscribed

    Oct 24, 2015
    46
    Texas
    Full Name:
    Frank
    Outstanding
     
  11. Ferrari55whoa

    Ferrari55whoa F1 Rookie
    Owner Rossa Subscribed

    Dec 21, 2005
    2,796
    Los Gatos, CA
    Full Name:
    Eric
    My opinion is it is always best for “us Maranello guys” to offer a car to the collective brotherhood first and allows guys to avoid the auction fee.

    Theoretically “we” are more “drivers” than “mileage focused investors”.

    Gorgeous color combo and I hope someone here could be its next long term caretaker.
     
  12. 308 GTB

    308 GTB F1 World Champ
    Rossa Subscribed

    Feb 7, 2002
    11,341
    New Jersey
    Full Name:
    Barry Wolinsky
    A beautiful Maranello, Bill. Driven regularly and maintained properly, it's just what a 550 was designed for.

    Barry
     
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  13. wbklink

    wbklink F1 Rookie
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    Sep 2, 2009
    3,342
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    Bill Karp
    So very true Barry And so much fun, putting those smiles on :)
     
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  14. JohnnyRay

    JohnnyRay F1 Rookie
    Silver Subscribed

    Nov 2, 2014
    3,014
    Central FL/NW WI
    "You can lead a horse to water, but..."

    I agree in principle, but it seems to take the urgency of an auction for folks to pull out their wallets. There have been a lot of good deals over the years on F-Chat that for some reason have been passed over...which later sold at a premium at auction. Makes no sense to me, but even I spent months kicking the tires of the car I now own. Lucky no one else came in and swooped it up...
     
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  15. Yoric

    Yoric Formula Junior
    Rossa Subscribed

    Jan 8, 2005
    329
    Full Name:
    Yoric
    Bill, so are you selling the 550?
     
  16. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    26,890
    socal
    Bill and Barry are two 550 owners I have most respect for. Bill for enjoying his car and putting on the street miles and Barry for enjoying his car putting on the track miles.
     
  17. NE550

    NE550 Formula Junior

    Mar 23, 2017
    424
    Omaha, NE
    Full Name:
    Dave
    That would be nice, but in reality there's a lot of tire kickers and low-ballers who aren't serious buyers. I have zero patience with that kind of BS. After spending a few months last summer testing the waters with potential local and other buyers, I ultimately sold my '70 911 former vintage race car last Nov on BaT. I was thrilled to find out that the buyers (two brothers in upstate NY) plan to make proper use of the car and vintage race it. Clean sale, no BS, I got reasonable money for the car, they got the exact vintage 911 race car they were looking for, everybody won.
     
  18. JohnnyRay

    JohnnyRay F1 Rookie
    Silver Subscribed

    Nov 2, 2014
    3,014
    Central FL/NW WI
    Did you prepare and host the BaT auction yourself - or have someone do it for you?
     
  19. wbklink

    wbklink F1 Rookie
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    Sep 2, 2009
    3,342
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    Bill Karp
    Yes ):
     
  20. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    38,423
    Clarksville, Tennessee
    Full Name:
    Terry H Phillips
    Considering Bill's 550 has been maintained with an open checkbook philosophy by excellent wrenches, value is likely somewhere north of $150K.
     
  21. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    26,890
    socal
    Really? What's next?
     
  22. 308 GTB

    308 GTB F1 World Champ
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    Feb 7, 2002
    11,341
    New Jersey
    Full Name:
    Barry Wolinsky
    And the respect is mutual, Carl, for your 550(s) ownership and racing experience.

    You've modified your 550 and made a great car even better!

    Barry
     
  23. wbklink

    wbklink F1 Rookie
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    Sep 2, 2009
    3,342
    Los Angeles
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    Bill Karp
    I have always had so much respect for you, Carl because you know so much about these cars Before my technician solved the twisting actuator, you were always there for me fixing it, and I thought to myself this guy is amazing and you know so much about these cars Let’s call it a mutual admiration society cheers,
    :)
     
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  24. wbklink

    wbklink F1 Rookie
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    Sep 2, 2009
    3,342
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    Bill Karp
    #99 wbklink, Mar 18, 2024
    Last edited: Mar 18, 2024
    Unfortunately, my friend nothing I’m at that point in my life if you can’t spend a lot of time behind the wheel, then what’s the use ):
    I have been very fortunate in my life to have driven so many beautiful Ferraris and for that I am very grateful I’m sure you all remember 3269 lovely car so I’ve been a very lucky !!
     
  25. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    38,423
    Clarksville, Tennessee
    Full Name:
    Terry H Phillips

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