550 Maranello article - they'll be £200k before you know it!

[roygarth]

cgt2 said:

Highest I know of for sure is a friend who sold recently at £130k. Who knows if they are selling above that but as with the entire Ferrari market there is a lot of speculative advertising of SOR stock which gets shuffled around/withdrawn with people then drawing the conclusion that something has actually sold at an inflated level which is not always the case. If you look carefully you'll often see the same car appear to be sold by one dealer only to turn up for sale elsewhere.

Hardly any dealers other than franchised have the capital to actually invest in stock, a quick asset search determines how little some independents have in cash reserves whilst advertising machinery in the hundreds of thousands, and even those that do are reluctant to invest at inflated levels in case they are left holding the parcel. It's also telling that many franchised dealers now heavily rely upon SOR.

What was spec of your friends car? Was it a private sale or....?

[Mogul]

Can't recall seeing any auction result with a 550 coupe selling at £200k or over. If the WSR counts, we saw one LHD sale last year at £179k...

http://www.historics.co.uk/buying/auctions/2015-03...

[cgt2]

roygarth said:

What was spec of your friends car? Was it a private sale or....?

It was a RHD, private sale. Standard 1998 car, I won't post the specific details just in case it reappears again for £200k..

[Camlet]

cgt2 said:

roygarth said:

What was spec of your friends car? Was it a private sale or....?

It was a RHD, private sale. Standard 1998 car, I won't post the specific details just in case it reappears again for £200k..

[roygarth]

cgt2 said:

roygarth said:

What was spec of your friends car? Was it a private sale or....?

It was a RHD, private sale. Standard 1998 car, I won't post the specific details just in case it reappears again for £200k..

Fair enough. But the sale price is completely meaningless without full spec/condition etc details. Especially as it was a private sale.

[cgt2]

roygarth said:

Fair enough. But the sale price is completely meaningless without full spec/condition etc details. Especially as it was a private sale.

Excellent condition, 38k miles. Not many options you could have in 1998 on a 550 before the FHP and Modular wheels as part of the Scaglietti options in 1999/2000 and it didn't have Daytonas or buckets, standard seats. I have a feeling it may show up again and don't want to sabotage the new owners' view of what he thinks it is worth, the market will tell..

[Mogul]

Silverstone Auctions upcoming sale at Salon Privé features a UK RHD 1998 550 in Argento over Bordeaux with 1,977 recorded miles.

http://www.silverstoneauctions.com/1998-ferrari-55...

Est. £180-220k.

Edited by Mogul on Saturday 13th August 10:54

[Mogul]

Gooding have just sold ZFFZR49A3W0112768 for $280,500 incl. commission which is £215k at current rates.

5,900miles with good provenance and options.

http://www.goodingco.com/vehicle/1998-ferrari-550-...

Don't be fooled by randomness!

[Camlet]

Mogul said:

Silverstone Auctions upcoming sale at Salon Privé features a UK RHD 1998 550 in Argento over Bordeaux with 1,977 recorded miles.

http://www.silverstoneauctions.com/1998-ferrari-55...

Est. £180-220k.

Edited by Mogul on Saturday 13th August 10:54

To quote the marketing blurb......"Reported to have never been driven in the rain (anecdotal) this very special car"

[Mogul]

The car was delivered new to the Isle of Man so presumably, the ultra low mileage is on account of it never having been driven in the rain!

[phib]

So what do we think 550's will do in 12 / 24 months ?

Phib

[Slickhillsy]

phib said:

So what do we think 550's will do in 12 / 24 months ?

Phib

Errrrrr Age well?

[rubystone]

phib said:

So what do we think 550's will do in 12 / 24 months ?

Phib

Continue to surface with ever lower miles on their clock then they had last year?

[phib]

rubystone said:

Continue to surface with ever lower miles on their clock then they had last year?

This is about the most true statement I suspect !! And the ones who have had their service history 'lost'

Phib

[phib]

I only ask as money is so cheap at the moment, all they have to do is rise by c. £2/3k a year to out perform say a loan / mortgage of say 1.99 % if that makes sense

I know ... Man maths !!

Phib

[cgt2]

rubystone said:

Continue to surface with ever lower miles on their clock then they had last year?

Spot on. Same as 355's, though that model was doing this even before the present madness.

[rubystone]

cgt2 said:

Spot on. Same as 355's, though that model was doing this even before the present madness.

It was. And the 308 before it. Lots of low mileage Daytonas around too actually.

[Cheib]

phib said:

I only ask as money is so cheap at the moment, all they have to do is rise by c. £2/3k a year to out perform say a loan / mortgage of say 1.99 % if that makes sense

I know ... Man maths !!

Phib

Apart from insurance, maintenance and storage costs!

[ferrisbueller]

Cheib said:

phib said:

I only ask as money is so cheap at the moment, all they have to do is rise by c. £2/3k a year to out perform say a loan / mortgage of say 1.99 % if that makes sense

I know ... Man maths !!

Phib

Apart from insurance, maintenance and storage costs!

Even then, a 550 will have outperformed the majority of conventional investments. And meanwhile, you have a 550.......

[phib]

All fair points !! In the last 2 years mine has doubled and I doubt ( famous last words !!!) it will double again

So lets say £1k insurance, £2k servicing and £3k loan, dont have storage issues.

So it has to increase by c.£6k a year so will a £100k 550 be £130k in 5 years ? I will get my crystal ball out now !!!

Just as I had decided to sell my 550, my accountant says wont the 550 be worth more that £130k in 5 years, I would be kicking myself if it was worth £200k in 5 years and thats another £50k off the mortgage for doing nothing !!!

Phib

Edited by phib on Sunday 18th September 12:32