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

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

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Discussion

Rivarama

27 posts

57 months

Sunday 22nd September 2019
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Thanks for the summary. I am a bit surprised about the final price for the pozzi car. Given the patchy history and condition of seats it doesn’t really look like the car has only been driven for 24k miles (unless it never was really cared for very well)

Fast323

33 posts

45 months

Sunday 22nd September 2019
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Was just looking at the results after watching the Harrys garage preview,so 21 of the 34 Ferrari's offered failed to sell?

21ATS

55 posts

24 months

Sunday 22nd September 2019
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Six Maranellos on offer, 4 RHD, 2 LHD - two sold, both the LHD cars.

I can't imagine either of those cars are destined to stay in the UK.

The bids on both the RHD 550's were spot on/retail dealer price IMO when commission is taken into consideration. Madness not to sell at those levels.

The auctioneer also mentioned before bidding started they'd turned down 40 further cars based on unrealistic reserves or condition.

So here we are in a non market. Buyers not willing to pay bubble prices once the bubble has burst. Sellers not willing to accept current market price as they are hung up on all the £150K plus sales from 2015/16.

Rivarama

27 posts

57 months

Sunday 22nd September 2019
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I agree with that analysis. All this isn’t going to help my search for a 550. Hopefully the winter realities and potential Brexit turbulences will motivate some sellers to come off the highs

ferrisbueller

24,381 posts

179 months

Sunday 22nd September 2019
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Sellers are off the highs already, I don't think people are holding out for £150k. I think I saw the Grigio car has a note of £115k will buy it against the listing.The Brexit hit is already evident, is there more to come? The thing with uncertainty is that there is also an upside. The Pozzi car finished at the lower end of what the asking prices in Europe are at.


ooid

1,736 posts

52 months

Sunday 22nd September 2019
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I think the pozzi var got a fair value, and the buyer must be happy. over 60k, and a nice ferrari nasp car, what else? for me it looks clean enough TBH biggrin

21ATS

55 posts

24 months

Sunday 22nd September 2019
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The Pozzi car looked expensive for the UK (LHD) but cheap for Europe. That'll be where it's likely going.

21ATS

55 posts

24 months

Sunday 22nd September 2019
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ferrisbueller said:
Sellers are off the highs already, I don't think people are holding out for £150k. I think I saw the Grigio car has a note of £115k will buy it against the listing.The Brexit hit is already evident, is there more to come? The thing with uncertainty is that there is also an upside. The Pozzi car finished at the lower end of what the asking prices in Europe are at.
I was looking again at the Silverstone Listing for the car mentioned above, here's the link:-

https://www.silverstoneauctions.com/events/2019-au...

Something sprang to mind that I'd not thought of before. Auctions are effectively a trade sale, no warranty applied or provide, buyer beware etc etc.

What happens in the case of this vehicle now being offered as a fixed priced sale?

This is no longer an auction lot. Are Silverstone Auctions now acting as a motor trader meaning they have to behave as such and offer the back up and warranties (however limited) of a motor trader? Or is there some loop hole that means they avoid this?

moeman79

16 posts

106 months

Monday 23rd September 2019
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The Pozzi car was unsold at CCA a few weeks ago and available at £57k inc commission after the auction. Wish I had chucked them a cheeky bid now...

jtremlett

806 posts

174 months

Monday 23rd September 2019
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moeman79 said:
The Pozzi car was unsold at CCA a few weeks ago and available at £57k inc commission after the auction. Wish I had chucked them a cheeky bid now...
Note that it is an ex-Japanese car - although that doesn't seem to be mentioned in the auction description - and they are notoriously difficult to sell in the Europe (including the UK). So if someone has bought it to sell on I think they will end up disappointed.

MDL111

4,248 posts

129 months

Monday 23rd September 2019
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jtremlett said:
moeman79 said:
The Pozzi car was unsold at CCA a few weeks ago and available at £57k inc commission after the auction. Wish I had chucked them a cheeky bid now...
Note that it is an ex-Japanese car - although that doesn't seem to be mentioned in the auction description - and they are notoriously difficult to sell in the Europe (including the UK). So if someone has bought it to sell on I think they will end up disappointed.
Out of curiosity is there a difference to European cars? Probably would avoid (some) US cars due to changes made to them but wasn’t aware about issues with Japan. Always thought people like them as on average better treated and no/little salt on the roads.

moeman79

16 posts

106 months

Monday 23rd September 2019
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jtremlett said:
ote that it is an ex-Japanese car - although that doesn't seem to be mentioned in the auction description - and they are notoriously difficult to sell in the Europe (including the UK). So if someone has bought it to sell on I think they will end up disappointed.
Nevertheless it was available for at least £12k less a few weeks ago than it sold for at Silverstone Auctions

ferrisbueller

24,381 posts

179 months

Monday 23rd September 2019
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jtremlett said:
moeman79 said:
The Pozzi car was unsold at CCA a few weeks ago and available at £57k inc commission after the auction. Wish I had chucked them a cheeky bid now...
Note that it is an ex-Japanese car - although that doesn't seem to be mentioned in the auction description - and they are notoriously difficult to sell in the Europe (including the UK). So if someone has bought it to sell on I think they will end up disappointed.
If that was £67k hammer, there's 12.5% + VAT to add, too.

jtremlett

806 posts

174 months

Monday 23rd September 2019
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MDL111 said:
Out of curiosity is there a difference to European cars? Probably would avoid (some) US cars due to changes made to them but wasn’t aware about issues with Japan. Always thought people like them as on average better treated and no/little salt on the roads.
There are differences although I don't know what offhand. I think they tend to be avoided because it is very hard to establish or verify any history

ferrisbueller

24,381 posts

179 months

Monday 23rd September 2019
quotequote all
jtremlett said:
moeman79 said:
The Pozzi car was unsold at CCA a few weeks ago and available at £57k inc commission after the auction. Wish I had chucked them a cheeky bid now...
Note that it is an ex-Japanese car - although that doesn't seem to be mentioned in the auction description - and they are notoriously difficult to sell in the Europe (including the UK). So if someone has bought it to sell on I think they will end up disappointed.
The CCA listing says it was originally France supplied, so it may be a Euro spec. that's been over and back.

Rivarama

27 posts

57 months

Monday 23rd September 2019
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jtremlett said:
moeman79 said:
The Pozzi car was unsold at CCA a few weeks ago and available at £57k inc commission after the auction. Wish I had chucked them a cheeky bid now...
Note that it is an ex-Japanese car - although that doesn't seem to be mentioned in the auction description - and they are notoriously difficult to sell in the Europe (including the UK). So if someone has bought it to sell on I think they will end up disappointed.
Agreed w the above. Silverstone auction was a bit cheecky on that car... I emailed the auction manager who was responsible for that car sale, asking him about the car history and specifically pointed to its Japananese past. His answer was elusive at best and I was told that he had no idea nor had he seen any paperwork/history records yet, but that I could consult everything on the Friday afternoon - less than 24h before the sale.
That car’s interior clearly doesn’t look like it only covered 24k - not sure Silverstone auction was as transparent as they could have been.

Mogul

2,441 posts

175 months

Monday 23rd September 2019
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Regardless of where it was first registered and/or spent time, it is 100% Japanese spec. but LHD, as is (or was?) the fashion out there for prestige imports.

The chassis number has a J in it...

ZFFZR49J000117147

And those rectangular side repeaters...

Agree that it was remiss of Silverstone not to highlight that fact in their catalogue listing, but perhaps the auctioneer mentioned it when it passed over the block? I don’t know as I wasn’t there / didn’t follow the live feed.










ferrisbueller

24,381 posts

179 months

Monday 23rd September 2019
quotequote all
Mogul said:
Regardless of where it was first registered and/or spent time, it is 100% Japanese spec. but LHD, as is (or was?) the fashion out there for prestige imports.

The chassis number has a J in it...

ZFFZR49J000117147

And those rectangular side repeaters...

Agree that it was remiss of Silverstone not to highlight that fact in their catalogue listing, but perhaps the auctioneer mentioned it when it passed over the block? I don’t know as I wasn’t there / didn’t follow the live feed.
https://www.classiccarauctions.co.uk/2000-ferrari-550-maranello-manual

Jap spec provided via French dealer. MOT suggests it was registered here in 2017.

A quick search doesn't pull anything else of interest up. It will be interesting to see where/if it reappears.

Edited by ferrisbueller on Monday 23 September 22:42

21ATS

55 posts

24 months

Monday 23rd September 2019
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ferrisbueller said:
If that was £67k hammer, there's 12.5% + VAT to add, too.
The high bid was £60K. I wasn't there but I was watching live on proxibid.

Interestingly the advertised final hammer prices are including the 12.5% comission but not the VAT element on the commission.

The high bid at the previous auction at which it featured was £46K and it was indeed offered for £57K. I made an offer on it at the time but recieved no response.

It's the sort of car that I'd be quite happy with as I'm not overly concerned about selling it on. I'd like to drive it and keep it. The idea of this was being LHD I'd be using it on the continent but it would need to be a discount on RHD drive cars.

Due to an unusal and unprecedented set of political and financial circumstances in the UK right now the LHD/RHD differential is effectively NIL. LHD cars are simply more valuable in their home countries than they are here, combined with an attractive Euro/USD rate for exports the LHD cars for sale in the UK are being repatriated.



Edited by 21ATS on Monday 23 September 22:56

ThePrincipal

62 posts

104 months

Thursday 26th September 2019
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This LHD 550 sold today - originally Yellow and missing the original service book although there are copies on file.
£38,000 hammer price.

https://www.bonhams.com/auctions/25824/lot/172/