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Maranellos are disappearing

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

  1. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    33,593
    Clarksville, Tennessee
    Full Name:
    Terry H Phillips
    Sold for $233K which is great for an HGTC SA with 9K miles, assuming no big warts.
     
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  3. jtremlett

    jtremlett F1 Rookie

    Feb 18, 2004
    4,181
    Whoever wins the auction is going to regret paying that much for it...
     
  4. 21ATS

    21ATS Formula Junior

    Dec 10, 2016
    684
    Kent, UK
    Full Name:
    Alan
    Honestly, this just shows how out of whack the market is right now in the UK. This is a perfect on line auction car with some glossy pics.

    I'm astounded at what the bids reached already given the backstory, but I made an effort to dig into the backstory a little, I didn't need to go far to discover that it's really not something I'd be bidding on whatever the price.

    This just shows what you can sell something for when people just aren't inclined to do a little research.
     
  5. 21ATS

    21ATS Formula Junior

    Dec 10, 2016
    684
    Kent, UK
    Full Name:
    Alan
    It's a real eye opener to me what this has reached.
     
  6. ralfabco

    ralfabco Two Time F1 World Champ
    Lifetime Rossa

    Mar 1, 2002
    23,133
    banana republic of america
    Full Name:
    Israel Beiteinu
    177K, is big money for a 97 with low miles not listed by an authorized F dealer.
     
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  8. Ferrar55whoa

    Ferrar55whoa Formula Junior
    Rossa Subscribed

    Dec 21, 2005
    590
    Los Gatos, CA
    Full Name:
    Eric
    @ralfabco I put the summary up in the other thread and really agree. It just goes to show, those very very wealthy guys that are building or adding to collections are not tuckered out yet on certain examples. To be fair I really liked that car but @Dm993tt was WAY more of a winner 21 months ago when he bought his higher mile car and then made a maintenance investment including Fabio's exhaust. https://bringatrailer.com/listing/1998-ferrari-550-maranello-3/

    I'm adding DM993tt to the #winning column for sure! ;-)
     
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  9. Ferrar55whoa

    Ferrar55whoa Formula Junior
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    Dec 21, 2005
    590
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    Eric
  10. Themaven

    Themaven F1 Rookie
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    Nov 2, 2014
    3,642
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    Darius
    This HGTC SA sold in the US for less than the gated manual 575 with FHP sold for in the UK.
     
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  11. 21ATS

    21ATS Formula Junior

    Dec 10, 2016
    684
    Kent, UK
    Full Name:
    Alan
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  13. Laserguru

    Laserguru Formula 3
    Silver Subscribed Owner

    Aug 7, 2016
    1,026
    New Hampshire
    Full Name:
    Eric
    Yeah, prevents the kind of sniping that goes on with fleaBay. RM Sotheby's does the same.
     
  14. Ferrar55whoa

    Ferrar55whoa Formula Junior
    Rossa Subscribed

    Dec 21, 2005
    590
    Los Gatos, CA
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    Eric
    It promotes the sellers market and lets guys really duke it out for top dollar. If there is a benefit to BaT at least they cap the 5% buyers premium at $5k.
     
  15. ralfabco

    ralfabco Two Time F1 World Champ
    Lifetime Rossa

    Mar 1, 2002
    23,133
    banana republic of america
    Full Name:
    Israel Beiteinu
    Gunbroker does the same. The auction can go on for minutes or hours past the scheduled time the lot hammers.

    It is a more beneficial auction format for the seller when two buyers both want the same item listed.
     
  16. BarryK

    BarryK Formula 3

    Dec 17, 2016
    1,153
    Europe
    Full Name:
    Barry K

    It may be best not to read too much into the Silverstone number as a single data point to represent the current 575 manual market. Note also the "interesting" price achieved for the the 599GTO a few lots after the manual 575, following a similar bidding pattern. Yet the other 599GTO, an ultra-low mile LHD "just" reached the market price. Auctions are less than transparent for many reasons, and it would be interesting to see where these two cars reappear next.

    In a normal transaction that 575 would be around £140-145k in my opinion, which would make sense vs SA etc.
     
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  17. 21ATS

    21ATS Formula Junior

    Dec 10, 2016
    684
    Kent, UK
    Full Name:
    Alan
    I agree that the bidding pattern just felt wrong from the opening bid. I was watching it live.
     
  18. 21ATS

    21ATS Formula Junior

    Dec 10, 2016
    684
    Kent, UK
    Full Name:
    Alan
    Well, this steaming turd of a heavily accident damaged/mouldy 550 finished at a final winning bid of £72,990 +6%. (£77,369.40)

    If that is in fact a genuine bid, then that highlights how irrational the market has become.
     
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  19. Crocodon

    Crocodon Karting

    May 12, 2020
    92
    London
    Full Name:
    Daniel
    That’s a bit harsh, Alan... But I definitely would not have paid that much. It’s a strong price for a below average car, in my opinion. It’s not even a fun / unusual colour.
     
  20. 21ATS

    21ATS Formula Junior

    Dec 10, 2016
    684
    Kent, UK
    Full Name:
    Alan
    Trust me it's not harsh when you know what state it was in and quite how badly damaged it was. There's a reason they didn't upload the accident repair invoice to the listing.
     
  21. Themaven

    Themaven F1 Rookie
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    Nov 2, 2014
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    “The market has become irrational”...ancient creaking examples of leaf sprung 60s cars that are outdriven by a MX5/Miata have cost 10m+ $/£ for more than a decade now.

    The question is not when the collectors car market became irrational. It’s when it was anything other than irrational. Ferraris are irrational - the whole narrative about emotion. That’s why we love them.
     
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  22. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    33,593
    Clarksville, Tennessee
    Full Name:
    Terry H Phillips
    Daniel- If I had to pick one color that goes with the Maranellos, it would be Grigio Titanio, and the Bordeaux interior looks great with that color paint.
     
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  23. Crocodon

    Crocodon Karting

    May 12, 2020
    92
    London
    Full Name:
    Daniel
    Absolutely! It was more a comment re the premium that an unusual colour (i.e. Giallo Modena) can attract regardless of underlying car condition.
     
  24. Peter Horsman

    Peter Horsman Rookie

    Nov 1, 2019
    12
    Kent
    Full Name:
    Peter
    In 2009, the car was involved in a collision, resulting in cosmetic damage that was repaired. There was no claim made against the insurance, so the car has no HPI markers. It received a new front bumper, nearside door, nearside rear wing, nearside rear wheel, rear top and lower wishbones, and a new nearside driveshaft.

    Sounds rather more than 'cosmetic' to me, for sure! It does seem that 550 'values' have generally hardened over the past year or so. Irrationally or not! Personally, I don't think irrationally (I think that good 550s represent relatively good value) although some of the individual CC prices apparently achieved generally might indicate irrationality (on occasion, perhaps bordering on stupidity).
     
  25. Themaven

    Themaven F1 Rookie
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    Nov 2, 2014
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    Darius
    Indeed, how a driveshaft can be described as cosmetic is beyond me.
     
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  26. Laserguru

    Laserguru Formula 3
    Silver Subscribed Owner

    Aug 7, 2016
    1,026
    New Hampshire
    Full Name:
    Eric
    Everything is infrastructure, don't ya know. Likewise, it's all cosmetic
     
  27. MogulBoy

    MogulBoy Formula Junior

    Sep 23, 2004
    946
    Devon
    #2049 MogulBoy, Apr 9, 2021
    Last edited: Apr 9, 2021
    Hope this all works out for the new owner who may have seen the 2009 repair invoice and satisfied themselves that it was done to a high standard...

    Can't be sure but back then, you could have probably picked-up a reasonable 550 for £40k so it wouldn't have taken much to write one off, even if it owed the owner six figures...

    New repair panels were presumably still available and there would have been donor cars from which panels could be salvaged....

    I wonder if the linked one was donated by your old 550 Darius? https://www.eurospares.co.uk/parts/ferrari/550-maranello/bodywork-lighting/body-inner-trims-19881/64712100

    The subject car sounds like it would have been at least a Cat D (damaged) [Cat N (non-structural) these days] if the insurance co. got involved and although all perfectly repairable in theory, it would have carried that marker with it thereafter which (often unjustifiably) tends to shave 5-figure sums off the value.

    I would be more worried about the likely 'cosmetic' state of the chassis if it has spent years out in the lovely British climate given the state of the points mentioned (toolkit, mould etc.) AND the front hood insulation (which would be worth investing £300 in - on the assumption you can still get them).

    I just wonder when we'll ever see the first 'body-off' restoration on a Maranello. I guess it will happen one day but when so many of them have lived sheltered lives in dry climates, it will be a while before it becomes economically sensible. Check out the state of this poor old vetroresina (8mins in)

    I've just been browsing Autoscout24.ch and reminiscing about the good old days. Some of the cars listed for sale over there are still being advertised 7 years after I bought mine...
     
  28. ralfabco

    ralfabco Two Time F1 World Champ
    Lifetime Rossa

    Mar 1, 2002
    23,133
    banana republic of america
    Full Name:
    Israel Beiteinu
    Approximately two years ago a poor example of a 550 was listed on mobile.de. White exterior paint. I think the interior was modified with quite a bit of aftermarket items.
     

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