599 GTO

Author
Discussion

Lambo FirstBlood

Original Poster:

959 posts

178 months

Saturday 16th June 2012
quotequote all
Having decided not to buy anything this year and wait until the arrival of 2 new bits of metal I have on order for next year...............

Had a look at one today in proper detail. I swore I was just going down for a chat but have been offered a drive and have started thinking about it a bit more seriously.

I did consider one ages ago but for one reason or another it didn't work out. They have dropped a hell of a lot of money since then too (£100k+).

Question is, I have an f12 on order which I think will be amazing. Do you think the GTO still has a way to go price wise, especially in light of the impending arrival of the F12? I would sell the LP640 to fund the GTO, whereas I had planned to keep the LP640 when the F12 arrives. I'm not sure I would have an F12 and a GTO - Too similar?



Edited by Lambo FirstBlood on Saturday 16th June 20:09

andy74b

832 posts

226 months

Saturday 16th June 2012
quotequote all
F12 is "just" a standard Ferrari. In years to come it will be 50k. In the same way I decided to keep by 16m and cancel the 458 spider. No way in 5 or so years time that the 458 is worth 100k over a 16m.

GTO will outperform in every way although I think they may still slip a bit from current levels.

AndrewD

7,527 posts

283 months

Saturday 16th June 2012
quotequote all
Drive one and see. I think they're epic, and whilst the F12 will be the new latest and greatest, the GTO is a bit special IMO. Get it warmed up and pile into a slow corner, grab a couple of downshifts, hear the whipcrack from the exhaust, and then the wail as you accelerate out of the bend, easy safe slides on demand, zero understeer, just great. But we're all different, so see how you feel behind the wheel.

I assume you mean they've dropped 100k from the premiums people were asking, I've not seen a GTO in the mid 200's. Asking prices seem to be low to mid 300's still. There was a lovely-looking Rosso Fuoco one up for 375 which seems a lot but that's not in the classifieds any more and the others seem cheaper.

No regrets at all with mine, I love it, and don't think I will ever sell it. An F12 will be great but it is a cooking model and will come and go IMO.

TTmonkey

20,911 posts

246 months

Saturday 16th June 2012
quotequote all
Saw one out and about in Basingstoke today. Nice.

Have to ask though, is a GTO (£320k ish) worth the money over a nice 599 GTB (£120k ish)? You'd probably be too scared to actually drive the GTO much because of the impact of milage on risiduals....

Lambo FirstBlood

Original Poster:

959 posts

178 months

Saturday 16th June 2012
quotequote all
andy74b said:
F12 is "just" a standard Ferrari. In years to come it will be 50k. In the same way I decided to keep by 16m and cancel the 458 spider. No way in 5 or so years time that the 458 is worth 100k over a 16m.

GTO will outperform in every way although I think they may still slip a bit from current levels.
Thanks Andy. I think you're right, in years to come, irregardless of how good the f12 is, it will keep depreciating as newer models come in, but I guess my point is about where the sweet spot is on the residual curve for a GTO purchase. I believe that long term, they will be a fairly solid buy, but in the short term, the biggest potential threat to residuals is just how good the F12 is; which as yet is an unknown.

RevHappy

1,836 posts

161 months

Saturday 16th June 2012
quotequote all
If you get an early F12 you can try it and sell it without a hit and get the GTO which will have dropped a bit as some will always want the newest without the wait.

Sneak

130 posts

193 months

Saturday 16th June 2012
quotequote all
I agree with the posts above, the GTO is a bit special and while the price might take a bit of a hit over the next year or so when the F12 arrives, I don't think they'll ever be 'cheap'.
It’s not a car aimed at Ferrari’s general customer base, where the F12 will be all things to all people – 2 different animals.

I went for a 6.00am blast in one on some coastal roads and a circuit earlier this year and was really impressed.
I’ve been told since there’s not a massive difference between an HGTE and the GTO for the £1ook price difference, but after being in a GTO driven quite enthusiastically, I wouldn’t care if the HGTE was 200k cheaper. It’s on my wish list.
The owner said he’d never sell his, there’s no higher recommendation than that.

Lambo FirstBlood

Original Poster:

959 posts

178 months

Saturday 16th June 2012
quotequote all
AndrewD said:
Drive one and see. I think they're epic, and whilst the F12 will be the new latest and greatest, the GTO is a bit special IMO. Get it warmed up and pile into a slow corner, grab a couple of downshifts, hear the whipcrack from the exhaust, and then the wail as you accelerate out of the bend, easy safe slides on demand, zero understeer, just great. But we're all different, so see how you feel behind the wheel.

I assume you mean they've dropped 100k from the premiums people were asking, I've not seen a GTO in the mid 200's. Asking prices seem to be low to mid 300's still. There was a lovely-looking Rosso Fuoco one up for 375 which seems a lot but that's not in the classifieds any more and the others seem cheaper.

No regrets at all with mine, I love it, and don't think I will ever sell it. An F12 will be great but it is a cooking model and will come and go IMO.
Thanks Andrew. I will take the opportunity to drive it. I know you've raved about yours and shared here that you feel it's a keeper.

When I say £100K, I mean the very fist car I was offered was £400K. The one I'm looking at is around £300K. I do know of one that was sold privately where the guy needed the money quickly for £275K. As I said in previous post, It's hard to imagine 18 months from now when there are a dozen used F12's on the market, that the GTO will be changing hands for the same money as them.

I'm attempting to get the sensible bit out of the way first ,where as I might drive it, discover it's not my cup of tea me, in which case it's moot, or fall in love with it and start using some PH logic to justify the purchase. (I will tell my wife that Nick Mason got a 100,000% return on his GTO in 40 years smile)

RevHappy

1,836 posts

161 months

Saturday 16th June 2012
quotequote all
I think the 599 GTO was a clever stop gap car, although not that visually different under the skin it's a very different animal.
It will be interesting as I think they'll have to turn up the F12 far more from the get go than originally intended. I don't think they'll make a GTO version as the F70 will then rewrite the rule book.

Lambo FirstBlood

Original Poster:

959 posts

178 months

Saturday 16th June 2012
quotequote all
RevHappy said:
If you get an early F12 you can try it and sell it without a hit and get the GTO which will have dropped a bit as some will always want the newest without the wait.
That is in my mind. I've got an early F12 build slot. I reckon I could do 9-12 months and 3000-4000 miles in the F12 and then probably do a straight swap for a GTO. I know this is high class problem. I've got to get the drive in to make things clearer in my mind. I'm also getting a proper look at the F12 at FOS so that might help too.

Camlet

1,132 posts

148 months

Sunday 17th June 2012
quotequote all
TTmonkey said:
Saw one out and about in Basingstoke today. Nice.

Have to ask though, is a GTO (£320k ish) worth the money over a nice 599 GTB (£120k ish)? You'd probably be too scared to actually drive the GTO much because of the impact of milage on risiduals....
I have a GTB and GTO. There's no comparison. The GTO is very special and I'm delighted the F12 was launched. Because the 599 GTO can now start its journey towards the "classic" status it absolutely deserves.

Schnellmann

1,893 posts

203 months

Sunday 17th June 2012
quotequote all
Lambo FirstBlood said:
That is in my mind. I've got an early F12 build slot. I reckon I could do 9-12 months and 3000-4000 miles in the F12 and then probably do a straight swap for a GTO. I know this is high class problem. I've got to get the drive in to make things clearer in my mind. I'm also getting a proper look at the F12 at FOS so that might help too.
Seems like you can hardly lose with that approach. Even if the F12 isn't your cup of tea it has to be interesting enough to spend 9-12 months with one.

Apologies for hijacking the thread a bit but where do you see the 16m settling down at?

f1ten

2,161 posts

152 months

Monday 18th June 2012
quotequote all
is it wrong of me to say that a 599gtb with a sports exhaust sounds better than the GTO version?!

550 Barchetta is a good stop gap for you then as its finished depreciating ... the 599gto surely will go down a bit more as owners that must have the latest gadget sell to go to the f12.

matc

4,714 posts

206 months

Monday 18th June 2012
quotequote all
f1ten said:
the 599gto surely will go down a bit more as owners that must have the latest gadget sell to go to the f12.
I disagree, I think the people who owned a GTO just because it was the latest and greatest have already moved on. I would imagine they're now in the hands of entusiasts and collectors, who can probably afford an F12 as well as a GTO if they so desired. I can't really see them ever being below £250k.

IMO a good comparison is the Murci SV - the market hasn't been flooded with cheap cars because the Aventador has been released.

Camlet

1,132 posts

148 months

Monday 18th June 2012
quotequote all
f1ten said:
is it wrong of me to say that a 599gtb with a sports exhaust sounds better than the GTO version?!

550 Barchetta is a good stop gap for you then as its finished depreciating ... the 599gto surely will go down a bit more as owners that must have the latest gadget sell to go to the f12.
Yes, completely wrong. The sound inside and outside of a GTO is unlike anything created by an after market add on.

BelfastBoy

779 posts

159 months

Monday 18th June 2012
quotequote all
andy74b said:
F12 is "just" a standard Ferrari. In years to come it will be 50k. In the same way I decided to keep by 16m and cancel the 458 spider. No way in 5 or so years time that the 458 is worth 100k over a 16m.

GTO will outperform in every way although I think they may still slip a bit from current levels.
Could the fear be though that Ferrari, ever mindful of coming up with new ways to fleece their customers, start using the GTO badge more often? So, while I agree with your basic point, I also wouldn't be at all surprised if there's an F12 GTO in future at some point. I hope not, but who's to say it won't happen?

Good call on the 16M Spider, by the way. There's only 499 of them, so it's rarer than a 599 GTO.

AndrewD

7,527 posts

283 months

Monday 18th June 2012
quotequote all
BelfastBoy said:
Good call on the 16M Spider, by the way. There's only 499 of them, so it's rarer than a 599 GTO.
Best to have both a 16M and a GTO IMO smile

Whitean3

2,182 posts

197 months

Monday 18th June 2012
quotequote all
AndrewD said:
Best to have both a 16M and a GTO IMO smile
Like this you mean? wink



Missed you and Gilly on Saturday's Swiss Hoon- not a cloud in the sky this time round!

jtremlett

1,369 posts

221 months

Monday 18th June 2012
quotequote all
BelfastBoy said:
...There's only 499 of them, so it's rarer than a 599 GTO.
Ha ha ha. The old ones are the best. I didn't think there was anyone left who still believed the numbers on the plaques on these things.

Jonathan

marcusjames

781 posts

260 months

Monday 18th June 2012
quotequote all
Whitean3 said:
AndrewD said:
One for the bad parking thread biggrin