550 coming up at Silverstone Auctions

[Cheib]

Just saw this car on the Silverstone Auctiosn website. Estimate looks a bit low to me in current market for RHD car ?

https://www.silverstoneauctions.com/ferrari-550-ma...

[phib]

Have to say their estimates look all over the shop !!!

Suspect there are a few cars in there that will make a fair bit more

Phib

[JamesBrown123]

Sold £110,000

[roygarth]

JamesBrown123 said:

Sold £110,000

The 550 market's gone bonkers!

[flemke]

JamesBrown123 said:

Sold £110,000

With 43,000 miles?

That is fowked up.

[Vixpy1]

flemke said:

JamesBrown123 said:

Sold £110,000

With 43,000 miles?

That is fowked up.

I was looking at these when they were 40 to 50k, thinking 'that will be nice in a couple of years'. Now they are way out of reach of anyone but collectors, same with the 355.

The classic car market correction can't come soon enough as far i'm concerned, the present explosion in prices is not maintainable and as soon as interest rates rise I forsee a crash, (in real estate as well as classic cars).

I'm sure present owners will not agree with that viewpoint!

[haroonok]

does the price include commission?

[WCZ]

haroonok said:

does the price include commission?

what price? the estimate?

[haroonok]

no the 110k- does that include commission or is it on top?

[roygarth]

haroonok said:

no the 110k- does that include commission or is it on top?

Includes commission

[haroonok]

thx

[Xpuffin]

Vixpy1 said:

I was looking at these when they were 40 to 50k, thinking 'that will be nice in a couple of years'. Now they are way out of reach of anyone but collectors, same with the 355.

The classic car market correction can't come soon enough as far i'm concerned, the present explosion in prices is not maintainable and as soon as interest rates rise I forsee a crash, (in real estate as well as classic cars).

I'm sure present owners will not agree with that viewpoint!

I do.
Some of the boats that have set sail recently are as dodgy as a Syrian dingy.
It's buy wisely time and don't follow the crowd IMO, watch the world stage and offload by 3rd 1/4 2017.
Or just drive what you got and enjoy it.

Edited by Xpuffin on Sunday 6th September 21:37

[phib]

Xpuffin said:

I do.
Some of the boats that have set sail recently are as dodgy as a Syrian dingy.
It's buy wisely time and don't follow the crowd IMO, watch the world stage and offload by 3rd 1/4 2017.
Or just drive what you got and enjoy it.

Edited by Xpuffin on Sunday 6th September 21:37

I have to say I agree too, the prices are crackers !! Its a difficult one, I only bought mine as I had always wanted to own a manual V12 Ferrari and my 355 was my first Ferrari, I don't think I could ever sell.

They make a nice pair but now the insurance is getting a bit pricey due to agreed valuations !! ( first world problems)

The prices are largely irrelevant unless you actually sell ... so I would say just enjoy !!

Having said that I have a mental price in my head that if my 550 hits it will be gone, purely as it means I can experience another couple of cars I have wanted to do.

Forgive my ignorance but why q3 2017 ?

Phib

[Xpuffin]

phib said:

Forgive my ignorance but why q3 2017 ?

Phib

In a word....China.
UK interest rates aren't set to rise until late next year now, and I feel the China problems going to get a lot worse yet which will stall any plans the U.S. and UK banks have of rate rises.
All IMO of course and I'm not qualified in any way financially to justify my comments but I think a small rate rise summer 17 is on the cards, hence my quote to offload as the speculator market starts to warm up the selling market slightly after.