98’ 550 at Amelia Island | FerrariChat

98’ 550 at Amelia Island

Discussion in '456/550/575' started by vdettore, Mar 7, 2019.

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  1. vdettore

    vdettore Formula Junior

    Mar 3, 2017
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    Vince
    #1 vdettore, Mar 7, 2019
    Last edited: Mar 7, 2019
    I’m at Bonhams Auction at Amelia. This 98’ 550 6spd just went for $70k plus a 12% buyers fee. 31,250 miles. I believe I read with the service history it’s time for the engine out service. Probably why the low price, but everything is going well under the estimates today.

    For the price I thought this was a very nice car.

    Love the 550/575. Current 348 owner. Image Unavailable, Please Login
    Image Unavailable, Please Login
     
    Bas likes this.
  2. Bluebottle

    Bluebottle F1 Veteran
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    #2 Bluebottle, Mar 7, 2019
    Sounds like somebody got away with daylight robbery. Vendor must have been pretty disappointed.
     
  3. 00 550

    00 550 Formula Junior

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    #3 00 550, Mar 7, 2019
    What's a 550 engine out service?
     
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  4. JimEakin

    JimEakin Formula Junior

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    #4 JimEakin, Mar 7, 2019
    No engine out service needed. Just a belt service. This was a super deal for the buyer.
     
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  5. vdettore

    vdettore Formula Junior

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    #5 vdettore, Mar 7, 2019
    I should’ve bought a paddle today. A 88’ Rossa Corsa Testarossa is coming up. Estimate is $85k - $105k. I didn’t see the miles or know the history
     
  6. vdettore

    vdettore Formula Junior

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    #6 vdettore, Mar 7, 2019
    And yet a 914 sells for $80k
     
  7. tazandjan

    tazandjan Three Time F1 World Champ
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    #7 tazandjan, Mar 7, 2019
    914/6s are rare and bringing good money. One of the rare examples of where the high performance version (914/6) had smaller diameter wheels than the 4 cylinder versions.
     
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  8. 21ATS

    21ATS Formula Junior

    Dec 10, 2016
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    #8 21ATS, Mar 7, 2019
    Just sold for $57,500 + premium.

    39,200 miles.
     
  9. vdettore

    vdettore Formula Junior

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    #9 vdettore, Mar 7, 2019
    Wow! We left before the TR came across the action block. Headed over to view the Sothebys cars for Saturdays Auction.

    The 550 below over at Sotheby’s has less than 5k miles on it. Looks to have been maintained by Ferrari of Atlanta. At least partly. I believe the estimate is in the $150k range. Image Unavailable, Please Login
     
  10. henryr

    henryr Two Time F1 World Champ
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    #10 henryr, Mar 7, 2019
    the red car has been hit from what i recall
     
  11. Bas

    Bas Four Time F1 World Champ

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    #11 Bas, Mar 8, 2019
    And in the other thread a man thinks his 550 is worth 200K more:D:D
     
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  12. NE550

    NE550 Formula Junior

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    #12 NE550, Mar 8, 2019
    Gorgeous high-option 12k mile Nero Daytona/Nero 575 F1 just hammered sold for $115K (+ 12% buyer premium) at Gooding Amelia. These cars just are not getting much love right now.
     
  13. 21ATS

    21ATS Formula Junior

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    #13 21ATS, Mar 8, 2019
    Does any happen to know what lot 110 brought at RM Amelia.

    Manual 575.

    I logged on to the live sale on lot 111 and just missed it!
     
  14. F11

    F11 Karting

    Aug 2, 2005
    196
    #14 F11, Mar 8, 2019
    $263k. Looked like an awesome example with the FHP, modulars, and racing seats.
     
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  15. 21ATS

    21ATS Formula Junior

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    #15 21ATS, Mar 8, 2019
  16. tazandjan

    tazandjan Three Time F1 World Champ
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    #16 tazandjan, Mar 8, 2019
    Pretty fair price.
     
  17. Robb

    Robb Moderator
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    #17 Robb, Mar 8, 2019
    That car had the hgtc handling pack. So pretty top dog car.

    Price does not seem totally out of whack but most Ferrari’s were selling low.

    Robb
     
  18. Skippr1999

    Skippr1999 F1 Rookie
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    #18 Skippr1999, Mar 10, 2019
    168k plus premium
     
  19. ralfabco

    ralfabco Two Time F1 World Champ
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    #19 ralfabco, Mar 10, 2019
    Last edited: Mar 10, 2019
    I would never sell a car at auction. You can be assured the buyer is aware of the auction house buyer's fees and takes the outrageous #'s into account. Unlike the auction house, a prospective buyer also has an advantage with a broker to 'schedule' a marque specialist technical PPI.

    The auction house will stuff the lot listing with all but meaningless information to build up a frenzied atmosphere. With a broker the seller can always decline an offer and wait it out. At no reseve (if that is your choice), you will not have the option to ask for a minute, to consider the #'s. Don't fall for the lights, noise, and fancy suits.
     
  20. Skippr1999

    Skippr1999 F1 Rookie
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    #20 Skippr1999, Mar 10, 2019
    I think no reserve is for people that won’t cash TODAY
     
  21. 375+

    375+ F1 World Champ
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    #21 375+, Mar 10, 2019
    Skipp the big auction houses(RM Sotheby's, Gooding) generally do not accept reserve consignments under $250K and the trend is toward even higher price levels at No Reserve. To a degree this is an indication of market softening but every large consignment is a negotiation between the seller and the auction company. Witness the Jan Koum Collection offered by Gooding at No Reserve. The results were probably well beneath expectations but you have no idea what might be in place--the auction company could have guaranteed the seller a net figure for all of the consigned lots.
     
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