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What's A Fair Price For A Quick Sale

Discussion in '456/550/575' started by F355 Fan 82, Aug 2, 2019.

  1. F355 Fan 82

    F355 Fan 82 F1 Rookie
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    Jul 22, 2006
    4,717
    #1 F355 Fan 82, Aug 2, 2019
    Last edited: Aug 2, 2019
    2002 575 F1 Red/Tan with daytona inserts(red)
    22k
    tubi and xpipe
    major done nov 2017
    $15,000 in various stuff I've fixed last 15 months, car needs nothiing(new tpms,power steering leak,washer fluid tank,annual services,etc)

    I was planning on keeping it, but my long trusted tech passed away in mid july and we have kids on the way here in 6-7 weeks and I just don't feel like dealing with it anymore, just shipped the car to a good friend of mine who is a dealer with lots of other vintage car inventory. Im not really interested in waiting 12 months to sell it to get an extra $10-15K. notice most 575 sit around forever and im not interested in that.

    What is a fair price to have him ask for a quick sale? Im thinking its in the $90-100k range or is it lower?
     
  2. fatbillybob

    fatbillybob F1 World Champ
    Owner Consultant

    Aug 10, 2002
    17,133
    socal
    Why not put it on BAT with a reserve and if it hits just blow it out. IMO the market is what someone will pay right now so I would not be worried what the number is. If you are ready to move on you move on.
     
    sherrillt likes this.
  3. F355 Fan 82

    F355 Fan 82 F1 Rookie
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    Jul 22, 2006
    4,717
    Honestly I've sold cars on BAT, their process takes too long, it took 3 weeks AFTER I had pics taken to start the listing, then 7 days. Then after the no reserve auction finished, the buyer said he needed to get financing and the deal fell apart bc he couldn't get it for an older car and I messaged BAT and they told me I could re-list it but only a few months later once the car was "forgotten". So I wasted 5 weeks for nothing last time, left a bad taste in my mouth. My friend has a specialty car dealer in miami, people go to him for cars like that, its just a matter of whats the number to move it quickly, I've seen some of his ferraris sit for a long time, but he's asking top dollar ie $250k for a 1k mile testarossa.
     
  4. fatbillybob

    fatbillybob F1 World Champ
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    Aug 10, 2002
    17,133
    socal
    That's too bad. Others seem to like BAT. Anyway the MIA dealer should be a pro and know his market. Like a realtor he should be able to tell you what price sells immediately, what price sells in a month, and what price sells in a year.
     
    Red575 likes this.
  5. puckybadger

    puckybadger Karting
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    Jan 12, 2016
    246
    Milwaukee, WI USA
    You can sell your car in 1 day by making friends with a car dealer who regularly goes to the action.
    Auction reports that show actual sale prices are readily available to dealers so it can give you a pretty good idea of what the real wholesale value is.
     
  6. F355 Fan 82

    F355 Fan 82 F1 Rookie
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    Jul 22, 2006
    4,717
    I’m not sure wholesale value is a thing with a car that less than 500 came to the us. How many 575 have run through Mannheim recently? My guess is 1 or 2 but more likely none.
     
  7. p1turbo

    p1turbo Formula Junior

    May 21, 2009
    338
    san francisco
    ask $70k...accept $60K

    people dont want fcars w mileage...makes zero sense...my 04 575 w 83K miles runs/drives better than when I bought it 10 years ago
     
    FrankieFourEyes, wbklink and BOKE like this.
  8. henryr

    henryr F1 World Champ
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    Nov 10, 2003
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    i dont show a single one on manheim mmr for comps 2002-2005
     
    F355 Fan 82 likes this.
  9. henryr

    henryr F1 World Champ
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    Nov 10, 2003
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    there is one on the dealer listing page
     
  10. Konadog06

    Konadog06 Formula Junior
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    Aug 22, 2007
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    central Florida
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    BOKE likes this.
  11. tazandjan

    tazandjan Three Time F1 World Champ
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    Jul 19, 2008
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    Good price for one with the modified interior, but she was low mileage and post AN 52556.
     
    BOKE likes this.
  12. Clyde Romero

    Clyde Romero Karting

    Sep 6, 2019
    203
    Atlanta Georgia
    Full Name:
    Clarence Romero
    The market is soft right now on 575 cars
    For a quick sale $60k
    It will fly at that number
     
  13. robert344@verizon.net

    Rossa Subscribed

    Mar 23, 2015
    94
    new hope pa. 18938
    Full Name:
    robert shelbourne
    Hi, PM me , I may be interested ! Thanks
     
  14. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
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    I'm sorry, I'm sure the car will move quickly at $60k, but IMO you're nuts if you do that.
     
    Natkingcolebasket69 likes this.
  15. wrgray68

    wrgray68 Karting

    Sep 5, 2014
    99
    Lawrence, KS
    Full Name:
    Walker Gray
    I would think a listing at $80k would get attention.
     
  16. fatbillybob

    fatbillybob F1 World Champ
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    Aug 10, 2002
    17,133
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    Funny thing is people just do not understand the whole sale vs retail car pricing and the real value of cars. Owners always think their cars are worth more than they are. I just bought a new 2019 Mustang GT to convert into my next racecar and dealers are discounting like crazy like huge percentage off with multiple incentives and 0% financing for 72mos!! A guy had a 2018 used with 7000miles and had a loan out on it. He wanted the new buyer to buy retail and take the hit for his problem of a bad deal bad loan or whatever... He wants top dollar for his 2018 and I can buy a new 2019 zero miles for less money. I get stuck with tax but I'm supposed to pay that anyway on a used car buy...many just cheat on taxes.

    So take a used exotic with very narrow appeal that is 10 years old and just about any modern car drives better and values really just are not there.

    $80k might not even get an instant sale.
     
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  17. henryr

    henryr F1 World Champ
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    Nov 10, 2003
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    the market has definitely softened for everything

    the list of canned excuses for RNM on BaT are getting old
     
  18. Natkingcolebasket69

    Rossa Subscribed

    Id say 80-85 for quick sale


    Sent from my iPhone using Tapatalk
     
  19. Natkingcolebasket69

    Rossa Subscribed

    BAT sales pretty low though


    Sent from my iPhone using Tapatalk
     
  20. cls

    cls Formula 3
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    Jun 12, 2007
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    Chris
    $108,000 sold on BaT 10.15.2019. F1, 27K miles.
     
    Tim Riley and BOKE like this.
  21. Natkingcolebasket69

    Rossa Subscribed

    Well OP could sell his on there.... I know in the Testarossa market sales have been terribly low.


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  22. Natkingcolebasket69

    Rossa Subscribed

    And that was in 2018 not 2019 that sale price....


    Sent from my iPhone using Tapatalk
     
  23. cls

    cls Formula 3
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    Jun 12, 2007
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    Ahh, you're correct. I'm confusing my 550 and 575 recent sales dates.
     
    Natkingcolebasket69 likes this.
  24. Jaguar36

    Jaguar36 Formula Junior

    Nov 8, 2010
    341
    Cherry Hill, NJ
    The OP was looking for a quick sale 2 months ago. I think he's either already sold the car or has given up on a quick sale.

    Would be awesome to hear what he did end up selling it for though.
     
  25. ross

    ross Two Time F1 World Champ
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    Mar 25, 2002
    29,441
    houston/geneva
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    Ross
    what did you do?
     

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