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

[roygarth]

bertie said:

roygarth said:

rubystone said:

bertie said:

I wonder if I should have a word on the insurance value of my manual 575

Anyone suggest who might give me a good idea on value?

Ask Ed Callow Robert, but be quick, he's returning to the world of automotive PR in the next couple of weeks. I think £199k wouldn't be out of order and you should make sure you advise the insurer.

£200k for a Manual 575? Is it a LHD high mileage?

No it's a RHD uk car, 17k, in Tdf blue with sand interior, Fiorano handling pack, modular wheels, Daytona seats, just serviced by official Ferrari dealer.

Nice spec I think.

Not far off ultimate Maranello spec as far as the market is concerned. I'd insure it for 250k absolute minimum.

[roygarth]

Bluebottle911 said:

cgt2 said:

It is interesting that people assume the 575 is superior and most who voice an opinion have no experience of ownership. I had a 575 Manual with FHP and three 550's ranging from 1997 to 2001 (one of the last), I definitely preferred the 550 for the more retro interior, slightly more playful handling and simple things like the indicators not making that silly electronic beep as they do on the 575.

I am quite prepared to believe that the 550 is the superior car. Indeed, for obvious reasons, I should very much LIKE to believe it! I assume that it's the relative rarity of the 575 in manual form that really pushes up the price.

Precisely!

[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but as with the entire Ferrari market there is a lot of speculative advertising of SOR stock which gets shuffled around/withdrawn with people then drawing the conclusion that something has actually sold at an inflated level which is not always the case.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....?

[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.

[roygarth]

rubystone said:

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?

Hasn't 'clocking' been going on for ever. Is there a suggestion that it is happening more now?

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Mogul said:

No single auction result is worth anything in particular but it is interesting all the same to note that the 1,977 miles UK RHD Argento/Bordeaux car sold at Silverstone for £180k (call it £184k if you could not recover the VAT on the buyer's commission) but worth remembering that the vendor will have netted just over £150k.

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

The 2 ultra-low mileage RHD 550's are both on at £250k, with Speedmaster and a Ferrari Main Dealer - Dick Lovett I think. But the Speedmaster car has been at £250k for nearly a year now. Has a 550 ever actually traded above £200k?

I'd be interested to know how the 2 guys on here looking to sell get on. As far as I can ascertain 550's haven't sold for the last 6 months except at auction.

[roygarth]

This car looks stunning inside and out!
http://www.millenniumheroes.com/cars/ferrari-550-m...

[roygarth]

GarageQueen said:

roygarth said:

This car looks stunning inside and out!
http://www.millenniumheroes.com/cars/ferrari-550-m...

non standard exhaust though

Tubi-style back boxes but originals are with the car....

[roygarth]

harrykul said:

Isn't that strong money for an LHD, even at that mileage? Mine has almost double that, but wouldn't expect to see £100k.

I've seen it. The condition, provenence and service history is first class. The interior is almost like new and it has rare modular wheels and quilted leather parcel shelf.

[roygarth]

phib said:

harrykul said:

Isn't that strong money for an LHD, even at that mileage? Mine has almost double that, but wouldn't expect to see £100k.

Its very strong money for LHD even with all the extras. I can confirm 100% LHD one's are not selling for that kind of money.

Phib

Can you confirm 100% if any are any selling for any money?!

[roygarth]

ferrisbueller said:

I think in absolute terms a car designed to be a GT is ever going to outhandle its counterparts or stablemates developed to be pure sports cars.

In context the 550 is a very capable car. It won handling contests outright back in the day but if you get in it expecting it to behave like an Elise you're going to be greatly disappointed. It is designed to cross continents in a single hit. The fact that it does such a credible job of devouring B roads is an impressive feat given its primary purpose.

Time doesn't stand still. 480hp is commonplace nowadays, as are improved brakes and suspension and the evolution of materials enable chassis stifness and weight that 20 years ago were probably F1 levels. As such, there are many cars which will see off a 550. Few are as desirable as a 550 though.

What a thing they are.

What. A. Thing.

Per the OP, I do believe the 550 will end up being hugely sought after. The styling may have been controversial at the time of its launch but now everyone appears to be at ease with it at the very least.

A V12 engine'd, manual 'box, Ferrari GT. We're talking modern age Daytona.

If you've already got one, you're a lucky git.

I've just sold my 550. I've got to stop reading this thread, I'm getting sellers remorse

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JiggyJaggy said:

So a RHD equivalent would be priced at circa £105-£110k I would say?

The dealer ask price would be more like £150k. Whether it would sell is a different matter.

[roygarth]

Mogul said:

roygarth said:

I've just sold my 550. I've got to stop reading this thread, I'm getting sellers remorse

How did you find the selling process?

I sold it via Millennium Heroes on a consignment basis. Its the blue LHD car with 15k miles which many on here said was overpriced at £120k. Well.....pleased to report it went for close to that figure.

Great company to work with, would highly recommend. In a market with few buyers and a lot of cars on the market, their presentation and attention to detail gives one a good chance of getting the buyer.

[roygarth]

Mogul said:

Well done!

Thanks.

[roygarth]

It was LHD (left hand drive ).

It is this car http://www.classicandsportscar.com/classifieds/cla...

I haven't physically see the red car so I cannot compare. But they only have mint cars.

My car was faultless and top colours and spec (wheels, leather parcel shelf). Had exceptional history/provenance - FFSH and only 2 owners (me and Dennis Bergkamp.)

It sold to a Danish guy. I'm glad I only have LHD cars as Euro classic market is relatively buoyant compared with UK market. Furthermore, UK economy could tank after Brexit, and with Hong Kong (the other RHD market) looking politically dodgy, RHD prices could come down towards LHD.

[roygarth]

phib said:

Great result !!!!

Off to find a tall building ,,,,,,,,,

Only joking, I am happy what I got for mine, more than doubled in 2 years ownership and I really didn't like LHD in the UK.

When I bought mine it was cheaper than the Granturismo I wanted, now looks like I got free use of a 550 and a free Granturismo !!!!

Phib

Yours was a great result too. We all love free motoring!

[roygarth]

550M said:

I thought it a bit stiff at £550 - maybe the Ferrari parts guys were just having a laugh

[roygarth]

Mario149 said:

Nice car, but not low enough miles to be a collectors item methinks. Not sure red is the best colour in terms of sellability for these cars. My bet is on £90-95K plus commission

I agree. I'd be surprised if it breaks £105K inc. commission. RHD 550/Testarossa/308/328 etc market is totally dead at the moment. Hope I'm wrong and it goes for far more.

[roygarth]

ajr550 said:

Low mileage (18,900) low estimate (£110,000) 550 failed to sell ay Bonhams on 2 Dec.
Did not see car or hear if any issues but it looked pretty good in catalogue.

This was a £160k/£170k car 18 months ago.

RHD market prices for 550/575/Test/308/360 etc have been falling much faster than LHD in Europe. So RHD/LHD spread, which was ridiculous, is, therefore, narrowing.

Not sure where it will all end?

[roygarth]

550 is Manual. 599 is auto. Surely the comparison is the auto 575 with 599? Yes a small % of 575 and even smaller % of 599 were Manual but you know what I mean.