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Maranellos are disappearing

Discussion in '456/550/575' started by intrepidcva11, Mar 30, 2015.

  1. Dan575

    Dan575 Karting

    Nov 13, 2017
    62
    That's not bad, maranellos are still amazingly cheap. I wonder when they will make that big move up, although i do remember 15 years ago daytonas and dinos being very cheap as well. The 550/575 is imo one of the best cars ferrari has ever produced combining power with old ferrari looks. I dont know when the market will finally appreciate it for what its worth, but I believe these are $200-400k cars sooner rather than later and I mean F1 575's at $200k and manual 550's at $300-400k.
     
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  2. Themaven

    Themaven F1 Rookie
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    The biggest Ferrari sale of the year in the UK today at Silverstone auctions, in association with the Ferrari Club GB.

    There were a few Maranellos up and among the results are:

    Very low mile RHD 550: sold for £121k inc premium
    Higher mile celeb 550: sold for £126k inc premium
    WSR, higher miles: £146k
    575F1 didn't sell, available to buy now at £57k

    Plus a beautiful 612O2O sold for £93k, an FF for £100k, and a 599 for half the price of the 550s.

    Lots of happy buyers today I think

    Results here

    http://www.silverstoneauctions.com/a-sale-of-ferraris-in-association-with-ferrari-owners-club-gb/view_lots/pn/all
     
  3. tazandjan

    tazandjan Three Time F1 World Champ
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    Jul 19, 2008
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    Great deal on the 599.
     
  4. TrojanFan

    TrojanFan F1 Rookie
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    Not my color but a hell of a deal there. Are we starting to see 599's for sub $100K USD now?
     
  5. Dan575

    Dan575 Karting

    Nov 13, 2017
    62
    Im shocked, 38,000 miles really isn't much on a 16-17 year old 575. God forbid the owner used it, it isn't ruined, for $75k USD or so seems like a lot of car for the money.
     
  6. Themaven

    Themaven F1 Rookie
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    To be fair, this particular 575 is left hand drive, which generally carries a 30% discount in the UK, and that's if there's a buyer willing to go through the hassle of coming over from mainland Europe and exporting it when there are plenty available over there on a turnkey basis.

    And this car has hopped from Germany to Spain to the UK, none of which makes for an easy sell.
     
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  7. 21ATS

    21ATS Formula Junior

    Dec 10, 2016
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    The FF at £100K is interesting. I was looking at these before I decided a 575M was the way I wanted to go and I thought then they were artificially holding value.

    The 599 looked like an astonishing bargain then I noticed it was LHD.

    I don't understand why the Jay Kay 550 sold for more than the very low mileage one owner red 550. I don't get the value in a celebrity previous owner.
     
  8. NE550

    NE550 Karting
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  9. VetroresinaNL

    VetroresinaNL Formula 3
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    In Holland approx. 6x 550/575 available between the 80k till 100k range. Euro that is.
     
  10. Themaven

    Themaven F1 Rookie
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    Specially when most buyers are either too young or too old to even know the band the celebrity played in. He's not exactly Elvis. Though Jay K has great taste in cars, like us.
     
  11. Bluebottle

    Bluebottle F1 Veteran
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    Maybe someone had the good sense to realise that a well-kept, regularly used car, is a better prospect than one which has stood unused for long periods.
     
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  12. 21ATS

    21ATS Formula Junior

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    14,000 miles or under 2,000 miles in 20 years. There's not a lot of difference in reality if they've both been well serviced. They'll both have sat unused for extended periods of time. Plus this is Ferrari world, these cars seem to depreciate for every mile added.

    But hey, it's not my money. I wonder if either will ever be driven anywhere?
     
  13. Themaven

    Themaven F1 Rookie
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    Rather than the trollish Tanking thread from users with questionable motives who think they can drive prices down (good luck with that) - here is the closest we have to a market price thread for 550s. Anyone seriously interested in price movements should look through the posts here. As to current prices, we have a couple of recent auction results posted separately. I'd say that to buy a good, no stories, lowish but not garage queen miles UK RHD 550 now would take somewhere between 90-110k GBP.

    When I first started seriously looking at Maranellos in 2012-13 that was 40-50k. Rose to 60k in 2014 and then rapidly through 100k in 2015 to an overheated point in 2016. All prices I am referring to are in GBP. Anyone else please do continue the thread, and add your dream stories about $1.99 550s with citations please, otherwise you will look like an idiot
     
  14. F355 Fan 82

    F355 Fan 82 F1 Veteran
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    #764 F355 Fan 82, Aug 2, 2018
    Last edited: Aug 2, 2018
    I saw a nice 550 on ebay recently at a volvo dealership here, I guess someone traded it in on a volvo??? Perhaps it was the principals car, it had 35k or 37k miles I think, silver, asking $97k. The asks have come down alot, even at $97k if it needs $10-15k to get it right, not a bad price. The dealer I bought my car from had a red 550 with black seats 15k miles and 2001 listed for 2.5 years, yes thats not a typo, he was fixated on $159k and wouldn't budge $1 when I went to get my 575 from him I tried for that but no deal. Anyways that finally sold a month ago so very good ones are still moving at high prices.

    I think alot of people are put off by Ferrari and automatically assume its $10k for every maintenance visit. Most of my friends are shocked when I tell them how much I've paid to run my Ferrari this year they all thought it was way way more, the cars have a bad reputation that scares so many away, its a shame bc they're great cars and not too bad to run honestly. Im not gonna say its cheap, but all in all $6k this year isn't that bad to run a car like this. Costs would be even lower if I didn't need a clutch position sensor that was $3800 by itself.
     
  15. 21ATS

    21ATS Formula Junior

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  16. flat_plane_eddie

    flat_plane_eddie F1 Rookie
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    That Volvo dealer usually has at least 1 higher end car in their inventory. I always see them post fairly interesting stuff.
     
  17. henryr

    henryr F1 World Champ
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    the volvo dealer also raised the price after not selling lower

    ;)
     
  18. haroonok

    haroonok Formula Junior

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    Considering they have a 355B manual with similar miles for 110k this seems like a bargain to me...
     
  19. 21ATS

    21ATS Formula Junior

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    What you have to remember though is the dealer isn't setting any of these asking prices. It's likely that most (if not all) of these cars are on consignment with asking prices being set by the owner.

    The true barometer is what's selling, which seems to be very little indeed.
     
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  20. docapl

    docapl Karting
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    I drove down to SLO to see the one at the Volvo dealer a few months ago. I though to myself, "how bad can it be?". Well I found out. It was absolutely awful condition interior and exterior with several panels repainted. It is going to take a lot more than 10-15K to the that one back in shape.
     
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  21. F355 Fan 82

    F355 Fan 82 F1 Veteran
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    We’ve seen this throughout history I have some old 2003 or so DuPont registry and 246 Dino and 365 gtb were cars that were a hair over $100k and look now. The maranello will be much higher sooner than later I promise.Im sure a time will come where one can swap a maranello for a new v8 Ferrari maybe even a v12 one down the road
     
  22. Qksilver

    Qksilver F1 Rookie
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    As I’ve said before - taking a 50% Ferrari to 90%+ is no small or economical feat. And when your done with doing that, you’ll only end up with a very nice condition (typically) early year, higher mile car that has had a ton of work.

    The result is still not something the blue chip seekers would consider, therefore demand is slim on that bottom end. This will be the case until top prices make full restorations sensible decisions. So, in my view, a $100K 550 is not remotely close to $100K if you want to “clean it up.”

    I agree with Toggie, owners of good ones haven’t considered selling in decades. The market hasn’t really seen consistent top tier 550’s - and it’ll take a lot more than the peanut gallery’s price expectations to pry the cars out of owners’ hands!

    -Joe
     
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  23. Themaven

    Themaven F1 Rookie
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    It's true and that's the reason cars aren't selling. Owners of good ones will only let them go for what they think they should get, and are happy otherwise to keep them. But there were 3083 550s made and there will always be some bad ones floating around, which aren't currently economical to fix well.
     
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  24. 1taliantrash

    1taliantrash Karting
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    Dec 30, 2017
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    I don't see a car they made 3000 of being 300-400k anytime soon, sorry. They just made way too many for that price level. I'm more interested in the bottom of the 550 market myself, as prices are amazingly low for some cars nowadays. I just watched a 550 with a bodykit in fine mechanical shape sell for $43k USD. Yes, a running, driving 550 with a gated 6speed for under $50k. Thats the price I think that not so perfect cars should be at , and alas, thats what one was bid to. Is this representative of every car out there? No, but we know that one sold for that, so likely more will.
     
  25. Chupacabra

    Chupacabra F1 Rookie
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    We do not.
     
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