550 Maranello article - they'll be £200k before you know it!
Discussion
rubystone said:
550M said:
Sorry to be contrary, but it clearly is. It took more than one person to achieve the final sale price. Personally I'm delighted!
Interesting point...if one thought the proceeds were going to charity, would one bid above the market value of an item? I was there and it wasn't clear whether the proceeds of all 5 Colton cars were going to the RNLI. But the packaging of the lots and their location in the room led me to believe they were. I absolutely understand how the vendor would get satisfaction from donating to any charity and the reasons behind it. But I don't see how the charity angle would necessarily increase the sale prices yesterday. In my experience, purchasers at charity events bidding with gay abandon, normally want some sort of associated benefit. Usually showing off their largess or egos by spending company money to impress their mates I guess. A car auction is something different. Much more annonimity, with some astute business minds at work, with their own serious money. I think the 250 & 275 were bang on the market money weren't they?
I think (with regard to 550's) this is the way the market is going. If one had a spare £150k to invest, and you can see a clear ladder of possible returns ahead that includes 30 year old Daytonas at £1m, 40 year old 275's at £2m, and 50 year old 250's at £8m, it's got to be reasonable odds that a 20 year old 550 might give you a sensible return in the future?
550M said:
I absolutely understand how the vendor would get satisfaction from donating to any charity and the reasons behind it. But I don't see how the charity angle would necessarily increase the sale prices yesterday. In my experience, purchasers at charity events bidding with gay abandon, normally want some sort of associated benefit. Usually showing off their largess or egos by spending company money to impress their mates I guess. A car auction is something different. Much more annonimity, with some astute business minds at work, with their own serious money. I think the 250 & 275 were bang on the market money weren't they?
I think (with regard to 550's) this is the way the market is going. If one had a spare £150k to invest, and you can see a clear ladder of possible returns ahead that includes 30 year old Daytonas at £1m, 40 year old 275's at £2m, and 50 year old 250's at £8m, it's got to be reasonable odds that a 20 year old 550 might give you a sensible return in the future?
Spot-on..all of this.I think (with regard to 550's) this is the way the market is going. If one had a spare £150k to invest, and you can see a clear ladder of possible returns ahead that includes 30 year old Daytonas at £1m, 40 year old 275's at £2m, and 50 year old 250's at £8m, it's got to be reasonable odds that a 20 year old 550 might give you a sensible return in the future?
I have a 360CS as well as a 550M. The 550 is just so much more regularly useable. The 360 clips cats eyes, you have to avoid any sort of road imperfection etc etc. The reason I mention this is that I can see why the 550 values are soaring. If you're going to buy just one 'classic', it has so many bases covered - performance, relative exclusivity, 'er indoors will go in it, relative reliability and even its looks have improved with age.
FILL YER BOOTS!
roygarth said:
Spot-on..all of this.
I have a 360CS as well as a 550M. The 550 is just so much more regularly useable. The 360 clips cats eyes, you have to avoid any sort of road imperfection etc etc. The reason I mention this is that I can see why the 550 values are soaring. If you're going to buy just one 'classic', it has so many bases covered - performance, relative exclusivity, 'er indoors will go in it, relative reliability and even its looks have improved with age.
FILL YER BOOTS!
^^this^^I have a 360CS as well as a 550M. The 550 is just so much more regularly useable. The 360 clips cats eyes, you have to avoid any sort of road imperfection etc etc. The reason I mention this is that I can see why the 550 values are soaring. If you're going to buy just one 'classic', it has so many bases covered - performance, relative exclusivity, 'er indoors will go in it, relative reliability and even its looks have improved with age.
FILL YER BOOTS!
ran one down to the Spa Classic last year and it was superb all round. Same ethos and reason I've gotten into the 928. Both proper GT's
Beautiful cars and nice to hear all being enjoyed...I have firmly missed the boat. Lived in London for twenty years with on street parking until four months ago...intention was always to pull the trigger and buy something like a 550 when I had a garage. Now I have the garage but can't persuade myself to buy!
The way the recent V12's have all shot up in price is incredible. Prices fast converging with F12's! If this carries on in a year or so you could see low mileage 550's trading at the same price as three or four year old F12's. I know they're different cars and a lot of 550 owners will own the contemporary Ferrari's too but that would be An interesting conundrum.
The way the recent V12's have all shot up in price is incredible. Prices fast converging with F12's! If this carries on in a year or so you could see low mileage 550's trading at the same price as three or four year old F12's. I know they're different cars and a lot of 550 owners will own the contemporary Ferrari's too but that would be An interesting conundrum.
The dilemma of converging prices is an interesting one with low mileage FFSH 355's similarly approaching 458 prices and the idea of an arguably less fragile, more usable car is an interesting one. A tough choice though, both the 355 and 550's appear to be the perfect blend of old and new in performance, aesthetics, etc so I think their appeal will always be strong from here on in.
priley said:
The dilemma of converging prices is an interesting one with low mileage FFSH 355's similarly approaching 458 prices and the idea of an arguably less fragile, more usable car is an interesting one. A tough choice though, both the 355 and 550's appear to be the perfect blend of old and new in performance, aesthetics, etc so I think their appeal will always be strong from here on in.
Very much this, though in the case of the 355 I think that the F1 equipped cars will become the poor relation. I can't see many folks going for that over a modern dct type car if the prices converge.clarkei said:
Looking at the adverts on Pistonheads several 575's are being advertised at close to £200k. I enquired about a lhd HGTC and they were asking £200k. Where will it all end?
Here maybe!http://www.classiccarsforsale.co.uk/news/classic-c...
Slickhillsy said:
classiscarsforsale said:
'The people declaring an imminent bust are usually those who want to buy a Dino but missed the boat a couple of years ago!
Ha! 'twas ever thus.what will be interesting is to see how classified prices move on 550's and subsequent sales following the £150'000 sale by H&H
without too much bias I think they '550's' have been very overlooked for quite some time (1995-2000) was a good period for some great manual Ferraris '355, 550 & 512'.
without too much bias I think they '550's' have been very overlooked for quite some time (1995-2000) was a good period for some great manual Ferraris '355, 550 & 512'.
550M said:
I think (with regard to 550's) this is the way the market is going. If one had a spare £150k to invest, and you can see a clear ladder of possible returns ahead that includes 30 year old Daytonas at £1m, 40 year old 275's at £2m, and 50 year old 250's at £8m, it's got to be reasonable odds that a 20 year old 550 might give you a sensible return in the future?
As someone who intended to move to a 550 next and have now missed the boat......I can sort of see the above, but 4 years ago 50k got you a nice 550 and all of the others were probably about a 1/3rd of the above also.......It's definitely not a linear appreciation slope. It just depends if you believe this is a long overdue correction or another bubble.I could put £150k into a 550, but at these levels I wont and it depends at what point supply rebalances with demand. In a rising market, supply tightens and it's also not a big market so could flip with just a few cars coming to market.
Fabulous cars and I would dearly love to own one one day..........
cgt2 said:
RHD are going from strength to strength, but it is noticable that LHD cars seem to have stalled (also applies to other LHD Ferraris for sale in the UK) - the same cars have been advertised for months.
But NOT 599 GTO Asking 350k in April now asking 500k and upwards.
Rhd just sold for over 800k.
Ltd Ed' Ferraris cars seem to be bucking this trend.
nutbehinddawheel said:
But NOT 599 GTO
Asking 350k in April now asking 500k and upwards.
Rhd just sold for over 800k.
Ltd Ed' Ferraris cars seem to be bucking this trend.
I don't think that's true. There are six LHD 599 GTOs currently on Pistonheads and all are under £500k. That is a lot of money but it is less that a week ago - including the 2 Dick Lovett cars that have just been reduced. The real question is whether they will sell. Certainly prices oof at least some Ferraris have come back a little in the last few weeks but whether that is the start of a trend or just a little settling back now winter approaches only time will tell.Asking 350k in April now asking 500k and upwards.
Rhd just sold for over 800k.
Ltd Ed' Ferraris cars seem to be bucking this trend.
Having said that, and with where asking prices are on some other models, £150k for a 550 somehow doesn't seem outlandish to me. In some respects, as a 550 owner, whilst I think higher values are only giving the car its due, I wouldn't be too upset either if they went back down as I would feel able to relax and use it a bit more. But really the price only truly matters on two days: The day you buy and the day you sell (although it might impact the day for either).
Jonathan
cgt2 said:
RHD are going from strength to strength, but it is noticable that LHD cars seem to have stalled (also applies to other LHD Ferraris for sale in the UK) - the same cars have been advertised for months.
A lot of the 550 LHD ads on here are for cars not even in the UK. A 14k mile LHD car that was POA and was £115k last week when I asked ask has just sold. The DK Engineering LHD Blue 360CS with 12k miles which was£175k ask has also sold.I bought my LHD 550 earlier in the summer and an apparently similar car in then UK is currently advertised at over £10k more than I paid. I'm not too fussed about that; I finally have a manual V12 Ferrari. As for the LHD point, I think they'll drag behind for sometime but ultimately roughly converge. A garage I use that work mostly on Enzo period cars pointed out the fact that the majority of the cars they work from that period are LHD.
We have some new craziness.....surely this will not sell.
Historics have a LHD 13,000 km 599 Alonso estimated at £240 to £280k in their sale later this month!
http://www.historics.co.uk/buying/auctions/2015-11...
I could have sworn the Alonso was a 599 HGTE with a bad paint job ?
Historics have a LHD 13,000 km 599 Alonso estimated at £240 to £280k in their sale later this month!
http://www.historics.co.uk/buying/auctions/2015-11...
I could have sworn the Alonso was a 599 HGTE with a bad paint job ?
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