550 Maranello article - they'll be £200k before you know it!
Discussion
Chris722 said:
https://www.carmagazine.co.uk/car-reviews/used-car...
Apols if this has been posted before but saw it on the Car website
Thanks that was enjoyable Apols if this has been posted before but saw it on the Car website
A nice 575 FHP with 31k miles went unsold on CC this evening with a best bid of £61k. I bailed out well before it reached 60. Appeared to be on original clutch. Still scratching my head why the blue one mentioned recently in this thread, which is probably a better car, has failed to sell twice at ACA. Second time round mid estimate was only £60k.
A red 550 previously owned by Harry/Evo and subsequently an ex TG presenter will be on CC shortly. I recall on the TG show many years ago Hammond stressing over the sills rusting and contemplating turning it into a track car. Think I'll give it a miss.
A red 550 previously owned by Harry/Evo and subsequently an ex TG presenter will be on CC shortly. I recall on the TG show many years ago Hammond stressing over the sills rusting and contemplating turning it into a track car. Think I'll give it a miss.
SFTWend said:
A nice 575 FHP with 31k miles went unsold on CC this evening with a best bid of £61k. I bailed out well before it reached 60. Appeared to be on original clutch. Still scratching my head why the blue one mentioned recently in this thread, which is probably a better car, has failed to sell twice at ACA. Second time round mid estimate was only £60k.
A red 550 previously owned by Harry/Evo and subsequently an ex TG presenter will be on CC shortly. I recall on the TG show many years ago Hammond stressing over the sills rusting and contemplating turning it into a track car. Think I'll give it a miss.
The blue car at ACA is a bit of victim of ACA. It's hard work to register with them, you have to place a cash deposit (bank transfer) of 10% of low estimate to enable you to bid so time in advance.A red 550 previously owned by Harry/Evo and subsequently an ex TG presenter will be on CC shortly. I recall on the TG show many years ago Hammond stressing over the sills rusting and contemplating turning it into a track car. Think I'll give it a miss.
Then hopefully they phone you to enable you to bid, but during the last sale all you could see online was people screaming at them in the chat that they'd registered, paid, had confirmation but no phone call and were unable to bid. It all looked like a bit of a shambles.
What I found more irritating was it was bid up higher than the low estimate and didn't meet reserve. No point even having an estimate really if it's not a realistic guide to what it will sell at.
21ATS said:
SFTWend said:
A nice 575 FHP with 31k miles went unsold on CC this evening with a best bid of £61k. I bailed out well before it reached 60. Appeared to be on original clutch. Still scratching my head why the blue one mentioned recently in this thread, which is probably a better car, has failed to sell twice at ACA. Second time round mid estimate was only £60k.
A red 550 previously owned by Harry/Evo and subsequently an ex TG presenter will be on CC shortly. I recall on the TG show many years ago Hammond stressing over the sills rusting and contemplating turning it into a track car. Think I'll give it a miss.
The blue car at ACA is a bit of victim of ACA. It's hard work to register with them, you have to place a cash deposit (bank transfer) of 10% of low estimate to enable you to bid so time in advance.A red 550 previously owned by Harry/Evo and subsequently an ex TG presenter will be on CC shortly. I recall on the TG show many years ago Hammond stressing over the sills rusting and contemplating turning it into a track car. Think I'll give it a miss.
Then hopefully they phone you to enable you to bid, but during the last sale all you could see online was people screaming at them in the chat that they'd registered, paid, had confirmation but no phone call and were unable to bid. It all looked like a bit of a shambles.
https://collectingcars.com/for-sale/1998-ferrari-5...
So the Metcalfe/Hammond 550 reaches £60,000 (63,600 with fees) and sells.
That's pretty much what I consider bang on money (retail) for reasonably tidy 550 with driver mileage.
Why you'd pay retail for a private sale through an online auction website is still the bit that baffles me.
Now compare that with the asking prices at all the SOR dealers currently selling 550's in the Pistonheads classifieds.
Bar the Justin Banks car which doesn't look very appealing, they are all in the £90,000 - £100,000 range and some even more. Even the Cat C write off black car still has a crack pipe asking price.
There's a very very big spread between mid £60Ks and £90k-£100K plus.
TIme for a bit of reality to set in.
Of course that's assuming the owners actually want to sell - they may have placed their cars with an SOR dealer at their premisis with an asking price of £30K over market with the intention of getting 6 months free winter storage.
So the Metcalfe/Hammond 550 reaches £60,000 (63,600 with fees) and sells.
That's pretty much what I consider bang on money (retail) for reasonably tidy 550 with driver mileage.
Why you'd pay retail for a private sale through an online auction website is still the bit that baffles me.
Now compare that with the asking prices at all the SOR dealers currently selling 550's in the Pistonheads classifieds.
Bar the Justin Banks car which doesn't look very appealing, they are all in the £90,000 - £100,000 range and some even more. Even the Cat C write off black car still has a crack pipe asking price.
There's a very very big spread between mid £60Ks and £90k-£100K plus.
TIme for a bit of reality to set in.
Of course that's assuming the owners actually want to sell - they may have placed their cars with an SOR dealer at their premisis with an asking price of £30K over market with the intention of getting 6 months free winter storage.
Edited by 21ATS on Friday 25th September 10:19
SFTWend said:
I'll be interested to see what the 550 on Collecting Cars goes for. Having seen details of the service history I won't be bidding on that one.
I'm having a punt on that one. I'm after a driver as opposed to a garage queen/collectors piece.I like the spec, I'd prefer Blu over cream/sabbia/beige or any green (rare) but Grigio Titanio over bordeaux is pretty timeless, I'm a sucker for diamond stiching and contrasting piping also. The big bonus for me though is no shields. I really don't like the wing shields on these cars - they don't need to be shouty.
The service history combined with the "managed sale" status hopefully puts a few people off and I get into a useable car. Fingers crossed.
Edited by 21ATS on Sunday 11th October 18:29
FezSpider said:
Metcafle and Hammond and there old 550 reunited
https://youtu.be/E7EEC35UtoQ
Good one, Harry's experiences prompted me to get my first of several. All these years later the car still has something special.https://youtu.be/E7EEC35UtoQ
Very sensible. I think £60k was plenty given service interval gaps and lesser known garages having maintained the car.
It's reached current bid much earlier than one would expect. If you read recent CC thread content there is enough rumour and gossip to make one question whether buying via this medium is a good idea.
It's reached current bid much earlier than one would expect. If you read recent CC thread content there is enough rumour and gossip to make one question whether buying via this medium is a good idea.
21ATS said:
I have "Angel" down as a house bidder. It's not usual you smash the bid out the park then start asking for service proof.
They've hardly smashed it out the park, just bid more than you wanted to pay. Assuming CC doesn't allow duplicate user IDs, that user has bought (paid for and collected) at least one other car from CC.SFTWend said:
Very sensible. I think £60k was plenty given service interval gaps and lesser known garages having maintained the car.
It's reached current bid much earlier than one would expect. If you read recent CC thread content there is enough rumour and gossip to make one question whether buying via this medium is a good idea.
I wouldn't for a moment wish to suggest anyone should bid higher that they have decided to. That said, I can't really see much of an issue with the service history. It looks like it missed a service or two 10 years ago. If that was going to lead to any issues they would have happened before now. Also the last couple of services have been by QV who are a known specialist even if I don't know some of the others. It's reached current bid much earlier than one would expect. If you read recent CC thread content there is enough rumour and gossip to make one question whether buying via this medium is a good idea.
But also the service history may not necessarily be a complete record of the servicing it has actually had. When I bought my own 550 it had some gaps in the service history in the service book. However, it also came with paperwork for a service that hadn't been recorded in the book. After I bought the car I took the book and paperwork to Maranello's to get them to add in the stamp for the service I had the paperwork for. They were happy to do that for me (although I know them well anyway) and I happened to ask if there were any other services on their system not in the book. I ended up going away with stamps in the book for four services that had been done at a main dealer but were not previously stamped in the book. I'm sure that isn't an infrequent occurrence because I have taken cars in for service and forgotten to take the book and I've taken cars in for service and the dealer has forgotten to stamp the book.
In any case, really the service history is only backing up the condition of the car and it is that which is really the most important thing in my view.
ferrisbueller said:
They've hardly smashed it out the park, just bid more than you wanted to pay. Assuming CC doesn't allow duplicate user IDs, that user has bought (paid for and collected) at least one other car from CC.
You don't find it odd that the bids were taken up and then the questions about history start?It was that bit I found odd. Surely you'd like this information before you are the current winning bidder?
EDIT, I've just thought about this and it dawned on me it's actually irrelevant as the reserve appears to have not been met yet.
Edited by 21ATS on Monday 12th October 22:47
jtremlett said:
wouldn't for a moment wish to suggest anyone should bid higher that they have decided to. That said, I can't really see much of an issue with the service history. It looks like it missed a service or two 10 years ago. If that was going to lead to any issues they would have happened before now. Also the last couple of services have been by QV who are a known specialist even if I don't know some of the others.
But also the service history may not necessarily be a complete record of the servicing it has actually had. When I bought my own 550 it had some gaps in the service history in the service book. However, it also came with paperwork for a service that hadn't been recorded in the book. After I bought the car I took the book and paperwork to Maranello's to get them to add in the stamp for the service I had the paperwork for. They were happy to do that for me (although I know them well anyway) and I happened to ask if there were any other services on their system not in the book. I ended up going away with stamps in the book for four services that had been done at a main dealer but were not previously stamped in the book. I'm sure that isn't an infrequent occurrence because I have taken cars in for service and forgotten to take the book and I've taken cars in for service and the dealer has forgotten to stamp the book.
In any case, really the service history is only backing up the condition of the car and it is that which is really the most important thing in my view.
I'm less bothered about the history as the car looks tidy.But also the service history may not necessarily be a complete record of the servicing it has actually had. When I bought my own 550 it had some gaps in the service history in the service book. However, it also came with paperwork for a service that hadn't been recorded in the book. After I bought the car I took the book and paperwork to Maranello's to get them to add in the stamp for the service I had the paperwork for. They were happy to do that for me (although I know them well anyway) and I happened to ask if there were any other services on their system not in the book. I ended up going away with stamps in the book for four services that had been done at a main dealer but were not previously stamped in the book. I'm sure that isn't an infrequent occurrence because I have taken cars in for service and forgotten to take the book and I've taken cars in for service and the dealer has forgotten to stamp the book.
In any case, really the service history is only backing up the condition of the car and it is that which is really the most important thing in my view.
What does bother me - and this is not specifically about this car, is the number of people clearly trading vehicles and managing to circumvent any legal comback in doing so.
The Collecting Cars as a site has shaken up the industry, I'm not entirely sure it's a good thing yet. It's certainly blurred the lines between what or who is a dealer and who isn't. This particular listing has highlighted another business model that operates in a similar manner.
The seller of this car is a storage facility, they openly advertise their service for "Sales & Aquisition" here:- https://www.v-management.com/#sales
They aren't dealers though - they are simply "introducing" two buyers and taking a commission from the seller for doing so - much like Collecting Cars. No accountability, no comeback.
I have no doubt this has been going on for some time but it seems to be growing.
So when is a dealer not a dealer? Surely if you're brokering sales and being paid for doing so you're a dealer?
21ATS said:
I'm less bothered about the history as the car looks tidy.
What does bother me - and this is not specifically about this car, is the number of people clearly trading vehicles and managing to circumvent any legal comback in doing so.
The Collecting Cars as a site has shaken up the industry, I'm not entirely sure it's a good thing yet. It's certainly blurred the lines between what or who is a dealer and who isn't. This particular listing has highlighted another business model that operates in a similar manner.
The seller of this car is a storage facility, they openly advertise their service for "Sales & Aquisition" here:- https://www.v-management.com/#sales
They aren't dealers though - they are simply "introducing" two buyers and taking a commission from the seller for doing so - much like Collecting Cars. No accountability, no comeback.
I have no doubt this has been going on for some time but it seems to be growing.
So when is a dealer not a dealer? Surely if you're brokering sales and being paid for doing so you're a dealer?
Imagine you are a car storage facility storing several hundred cars. A fair number of the owners live overseas. An owner decides to sell one of his cars. He can't be bothered to deal with the public. He asks the storage facility (which also looks after his MOT and taxation and annual service arrangements as he can't be bothered to deal with that minutiae either) to sell the car for him. This happens a few times a year. The seller is clearly the owner of the car, not the storage facility. The storage facility may "handle" the sale for a fee, but it seems a stretch to think of them as a dealer trading vehicles and doing so with a deliberate view to circumventing legal obligations. Is it that different from the "I'm selling the car on behalf of a friend/relative" adverts where presumably the seller's friend/relative who deals with the tyre kickers and does the deal probably gets paid a few bob by the seller for his time and trouble? Who knows...What does bother me - and this is not specifically about this car, is the number of people clearly trading vehicles and managing to circumvent any legal comback in doing so.
The Collecting Cars as a site has shaken up the industry, I'm not entirely sure it's a good thing yet. It's certainly blurred the lines between what or who is a dealer and who isn't. This particular listing has highlighted another business model that operates in a similar manner.
The seller of this car is a storage facility, they openly advertise their service for "Sales & Aquisition" here:- https://www.v-management.com/#sales
They aren't dealers though - they are simply "introducing" two buyers and taking a commission from the seller for doing so - much like Collecting Cars. No accountability, no comeback.
I have no doubt this has been going on for some time but it seems to be growing.
So when is a dealer not a dealer? Surely if you're brokering sales and being paid for doing so you're a dealer?
bish_345 said:
21ATS said:
I'm less bothered about the history as the car looks tidy.
What does bother me - and this is not specifically about this car, is the number of people clearly trading vehicles and managing to circumvent any legal comback in doing so.
The Collecting Cars as a site has shaken up the industry, I'm not entirely sure it's a good thing yet. It's certainly blurred the lines between what or who is a dealer and who isn't. This particular listing has highlighted another business model that operates in a similar manner.
The seller of this car is a storage facility, they openly advertise their service for "Sales & Aquisition" here:- https://www.v-management.com/#sales
They aren't dealers though - they are simply "introducing" two buyers and taking a commission from the seller for doing so - much like Collecting Cars. No accountability, no comeback.
I have no doubt this has been going on for some time but it seems to be growing.
So when is a dealer not a dealer? Surely if you're brokering sales and being paid for doing so you're a dealer?
Imagine you are a car storage facility storing several hundred cars. A fair number of the owners live overseas. An owner decides to sell one of his cars. He can't be bothered to deal with the public. He asks the storage facility (which also looks after his MOT and taxation and annual service arrangements as he can't be bothered to deal with that minutiae either) to sell the car for him. This happens a few times a year. The seller is clearly the owner of the car, not the storage facility. The storage facility may "handle" the sale for a fee, but it seems a stretch to think of them as a dealer trading vehicles and doing so with a deliberate view to circumventing legal obligations. Is it that different from the "I'm selling the car on behalf of a friend/relative" adverts where presumably the seller's friend/relative who deals with the tyre kickers and does the deal probably gets paid a few bob by the seller for his time and trouble? Who knows...What does bother me - and this is not specifically about this car, is the number of people clearly trading vehicles and managing to circumvent any legal comback in doing so.
The Collecting Cars as a site has shaken up the industry, I'm not entirely sure it's a good thing yet. It's certainly blurred the lines between what or who is a dealer and who isn't. This particular listing has highlighted another business model that operates in a similar manner.
The seller of this car is a storage facility, they openly advertise their service for "Sales & Aquisition" here:- https://www.v-management.com/#sales
They aren't dealers though - they are simply "introducing" two buyers and taking a commission from the seller for doing so - much like Collecting Cars. No accountability, no comeback.
I have no doubt this has been going on for some time but it seems to be growing.
So when is a dealer not a dealer? Surely if you're brokering sales and being paid for doing so you're a dealer?
They are being paid to broker a sale. How can that not be considered trading/dealing?
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