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US Spec. 599 GTO Marketplace

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

  1. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    I'm asked privately probably twice per month about what GTO's are for sale in the US. Thought I'd start a thread so others could highlight fresh GTO's that have hit the market. The thread should NOT be used by sellers to list their GTO's as there are separate forum areas for same and it would violate the forum protocols.

    So to get started ..... I regularly hear many state how much they love the rosso fuoco color spec. so here's one for sale in a GTO. Just listed at Miller Motor Cars - 178505 - Rosso Fuoco with silver roof and nero interior. No stripe. Just over 1K miles and Classiche certified etc. AP $899K.

    Also 2 others for sale in US that I know of:

    Algar 7900 miles AP $715K (RC with stripe)
    Marshall Goldman 3800 miles AP $725K (silver with stripe)

    While most of the listings that will appear here are going to be GTO's in the US that are publicly for sale it might also provide information on cars that might be privately for sale. Lets try to keep the thread going as it can be a resource for those of us whom are seeking a GTO or those who seek a new caretaker for their GTO.
     
  2. Nelsonc275

    Nelsonc275 Formula 3

    Sep 27, 2013
    1,589
    Great idea Stephen. I saw the Rosso Fuoco GTO at Miller Motorcars about a year ago while we were purchasing our GTO. The car is fantastic and it will be a great addition to anyones garage.
     
  3. mathewr

    mathewr Formula 3
    Rossa Subscribed Classified Subscribed

    Ferrari of Houston had one posted on Monday 9/14/2015 and it is no longer on the website.

    $699K Black/Red Exterior with Black/Red Interior. I have never seen this combo before.
     
  4. HKE46Boy

    HKE46Boy Formula Junior

    Jan 10, 2004
    308
    CA
    Full Name:
    RENN Spec
    The GTO from Houston only had 2xx miles. Was asking 799k, sold yesterday.
     
  5. mathewr

    mathewr Formula 3
    Rossa Subscribed Classified Subscribed

    That's the one, sold it before I could go have a look.
     
  6. MoeD

    MoeD Formula 3

    Aug 1, 2007
    1,254
    USA
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    Moe D
    That car was Gorgeous~
     
  7. Veloce12

    Veloce12 Karting

    Aug 19, 2006
    126
    Southern California
    Full Name:
    Brady
    You guys are 100k apart with your AP info on the Houston car--which is correct?
     
  8. Mn-0127

    Mn-0127 Formula Junior

    Nov 14, 2013
    260
    799k is correct, i was going to buy that
     
  9. mathewr

    mathewr Formula 3
    Rossa Subscribed Classified Subscribed

    I can make a call if you must know...
     
  10. Thomas Quintin

    Thomas Quintin Formula 3

    Mar 2, 2005
    1,952
    Paris France
    Full Name:
    Thomas QUINTIN
    #10 Thomas Quintin, Sep 19, 2015
    Last edited by a moderator: Sep 7, 2017
  11. Veloce12

    Veloce12 Karting

    Aug 19, 2006
    126
    Southern California
    Full Name:
    Brady
    Thanks. Very cool and only 286miles! Rare to find on boy
    Th counts.
     
  12. Veloce12

    Veloce12 Karting

    Aug 19, 2006
    126
    Southern California
    Full Name:
    Brady
    Sorry, should read: 'on both counts'.
     
  13. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    If it was originally the Salt Lake City GTO it only had approx. 72 miles on it and if i recall correctly it was the lowest MSRP and least optioned GTO I had ever seen for sale (MSRP was below $450K). Good to see that at least someone finally drove her over 200 miles (kind of sad but seems to be the case) but unfortunate that car flipped after such a short period of time (6 months ?). I'd love to know why (specifically) people buy and sell the GTO after only a few months of ownership if it for other than financial reasons. I'd surmise that the GTO personality is just to raw and plain old psycho for most drivers (particularly if coming from an easy to drive 458 type F car). Could be simply that the GTO is THE most challenging modern sports to drive at the limit.
     
  14. MoeD

    MoeD Formula 3

    Aug 1, 2007
    1,254
    USA
    Full Name:
    Moe D
    This thread is a Great idea.

    My thought is that anyone who has a GTO isn't using it as primary or even secondary transportation. So how many miles can they actually put on it?? I'd believe that low mileage as honest use of a car to which you rarely get behind the wheel
     
  15. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    I vigorously attempt to limit my GTO use to 1k miles per year and would not use her as a DD. My DD is a 13 997 TTS Cab. which just sucks up the miles but is (at least near term) a depreciating asset. I also have other cars that I'd use before taking the GTO into NYC (as an example) where the roads are mostly miserable. I think most US GTO owners drive them approx. 1K mile spec year. Those that view their GTO as purely an investment probably drive them only 100 miles per year or less. I'd be guessing a bit but I think the typical non-US GTO owners place many more miles on them than US owners. The issue is raised infrequently but what the premium for mileage on a GTO ? Its easy to calculate as the GTO was only produced for 1 model year. Should the 1K mile example be worth 10% more than the 10K mile example ? 20% more ? Since there are only 125 or so US spec GTO's a lot of the numberics come down to availability also. Its easy to differentiate when there are 10 units for sale. Not so easy when there are only 3 for sale.
     
  16. Qksilver

    Qksilver F1 Rookie
    Silver Subscribed

    Feb 11, 2005
    3,581
    Philadelphia
    Full Name:
    Joe G.
    How much would you (or any GTO owner here) pay today for 1k, 5k, 10K "free" miles on your current GTO over the course of the next 12, 24, 48, 60,... months (aka, zero depreciation in the marketplace due to incremental mileage)?

    Can you use a 200 mile AP as a maximum and deduct your mile "value" to approximate a current ask? Given the low production and number of cars on the market at any given time, could be one way to approach pricing guidance.

    I'd guess that the average of several owners' mile values on their own cars would be a pretty market correct Miles vs. AP curve.
     
  17. tortesq1

    tortesq1 Formula Junior

    Feb 6, 2012
    844
    New York
    Full Name:
    Stephen H. Frankel
    Great questions. Unfortunately, I'd be speculating if I were to provide any legitimate quantifiable responses. I think the best way to look at the value of a "mile" is to simply look at the AP and mileage on the cars for sale and extrapolate from there. 7900 miles = $715K, 3800 miles = $729K and 1000 miles = $899K. Not much to go on and I do think that mileage while a critical factor is NOT the sole arbiter of an AP. The rare color of RF on the Miller GTO makes it a higher price for sure, but what % difference does it merit ? Also a GTO with 7900 miles at $715K vs. a 1015 mile one at $899K - there surely cannot be a $180K price differential for 6900 miles ? Agree that without a dearth of product any meaningful comparison becomes extremely difficult. That being said, I do believe that the average GTO mileage will be approx. 1K miles per year over the long haul (ie. 5K miles in 2016, 10K miles in 2021, etc.). Of course, if the GTO skyrockets in value then there may be fewer owners that even want to driver their steed even 1K miles per year. Driving a $500K car is tough enough when thinking about where to park, etc. When the GTO hits $1M in value I think that many owners might me reticent to just take their cars out to the grocery store or post office or whatever. Depending on your viewpoint that $1M value is literally right around the corner. I wouldn't be shocked if the average US spec GTO hit the $1M mark in the next 24-36 months particularly for the relatively low mileage examples (ie. average of 1K miles p/yr. or less). I thought it would take 10+ years for prices on the GTO to double (ie. 2011 to 2021) to approx. $1M but with so few examples in the US I was wrong. IMHO if in 2015 you can find anything in your desired color spec with no more than approx. 1K miles per year for $700K (or less) I'd grab it. My 2 cents.
     
  18. Thomas Quintin

    Thomas Quintin Formula 3

    Mar 2, 2005
    1,952
    Paris France
    Full Name:
    Thomas QUINTIN
    There was a red 599 GTO with 193mi for sale earlier this week at Ferrari of Seattle. Listed as Rosso Corsa, but no picture provided. 1 owner car (from Canada).
    It remained just one or two days.
     
  19. MoeD

    MoeD Formula 3

    Aug 1, 2007
    1,254
    USA
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    Moe D
    Pretty white/blue just showed up at Ferrari in DC ;)
     
  20. kev360

    kev360 Formula Junior

    Feb 19, 2006
    428
    Moderately optioned. They said ask was $850k but a deal is pending already.
     
  21. ttn27

    ttn27 Formula 3
    Silver Subscribed

    Sep 30, 2010
    1,092
    TX
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    TN
    Any idea why the silver one at Marshall Goldman has not sold? It has been there for quite a while and for the asking price of 695k, I thought it would have been sold by now.
     
  22. MoeD

    MoeD Formula 3

    Aug 1, 2007
    1,254
    USA
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    Moe D
    The silver one at MG has sold, they just didn't pull down the ad yet

    Actual sale price 725k I was told...
     
  23. kev360

    kev360 Formula Junior

    Feb 19, 2006
    428
    Few more popping up. Traded mine to FoH. You can see it on their website. Car is spectacular.
     
  24. GWB

    GWB Karting

    Feb 18, 2007
    209
    Houston Texas
    Full Name:
    Gavin Britz
    Well if it was sold by on orthopedic surgeon I would be concerned. Double PPI. Those foot surgeons, you just never never know
     
  25. MoeD

    MoeD Formula 3

    Aug 1, 2007
    1,254
    USA
    Full Name:
    Moe D
    I'm wondering why you traded her- Looks like a pretty car
     

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