[eddevine]

Hello all

I am looking for a 550 Maranello, the prices seem to be all over the map.
I downloaded the buyers guide which is a help. Does anyone have an idea of price trends for these cars? and what options drive prices higher.

I am narrowing my field and would love to have one in the garage this winter.

Thanks

Ed

[Granucci]

I'm quite sure Tazanjan will chime in a bit if not direct you to a recent thread.

welcome to FL. The 550 is one of our favorites.

[tazandjan]

Ed- Welcome to Ferrari Life. 550 prices have firmed lately for excellent cars, especially those with Scaglietti options like Daytona seats, leather rear shelf, colored calipers, FHP, and Barchetta wheels. One well equipped 550 in California just sold for $105K, kind of defining the top of the price list. Prices are definitely overlapping with 575s.

So expect to pay $70-100K for a good 550, depending on mileage, color, options and, most of all, condition. Many of the options only became available later in production, probably in the CY 99 timeframe.

There are good threads on comparisons of the 550 and the 575M, and you can glean a lot of info from those. If you go to ferraridatabase.com, you can download 550 owners manuals and workshop manuals.

[JazzyO]

It's important to realise there are not that many good 550's out there. As the prices dropped to ridiculous levels some people have snapped them up, not done any maintenance and then dumped them again. This trend is being realised by buyers and sellers alike so that there is now more of a spread in prices.

Seek out a good one, it will be worth your while. Good 550's are very reliable. Fantastic cars.


Onno

[Granucci]

Good one means not just so much the records but where it stands today in evaluation from a good/certified mechanic. The PPI will show what to expect from what is discovered, which is enough to set the price.

good luck, and keep asking.

[Barry]

Ed
Welcome to Ferrari Life. Can't add much to the above other than to say that the 550 is a magnificent car. A definite one for the future garage.

[champagne612]

Welcome to FLife

Feel free to post 550's along the hunt for the right one.

There is a fairly large and more important knowledgeable group of owners here.

[eddevine]

Thank you all.

I appreciate the help.
As of last week I have made inquiries on a few 550's, for what I'm looking for I'm in the $85k to $95k range taking into account Mileage, service history, condition, color and options. (in that order more or less)

I have been trying to find a car with less than 15k miles, is this a good cut off point for a low vs. higher mileage 550?

I am reading past threads on the buying of a 550 and it seems to get more complicated, maybe I should go with my gut feeling more.........it is a Ferrari after all.

Thanks again

Ed

[Boxer]

Which market are you looking for a car in?

[eddevine]

Boxer

I am looking in the U.S., nationwide.

Ed

[JazzyO]

Condition, service history, colour, mileage and finally options is the way I would search.

Condition is everything - mileage means (almost) nothing. Even the youngest 550 is over 10 years old now and if it hasn't been driven you can expect problems. It does not have to be driven far but very regularly.

550's are expensive to maintain cosmetically. The nose chips, the bonnet chips, the rubber foils scrape, the bonnet vent can show rust easily. If you find a car in very good cosmetic condition, chances are it is also in great mechanical shape. If it is, check the service history and see what was done and what was spent on the car. Then I would look if I can live with the colour and what the mileage is like. Regarding options, there were very few options available on the 550 and it's not really something to worry about. Basically it's the 250GT stitching on shelf and roof, sport seats yes/no, colour of carpets and piping on the seats (if regular seats).

Best of luck finding it - they're great (I keep repeating myself)!



Onno

[Boxer]

Originally Posted by eddevine

Boxer

I am looking in the U.S., nationwide.

Ed

I will leave you in the hands of our US experts then.

Have you checked Ferrari Market Letter and the Ferrri Club of America classifieds?

[cribbj]

Eddie, first welcome to the Life

There's a fairly well defined list of items that are known to go wonky on the 550, so I would make sure any car you're considering has a PPI done on it by someone knowlegeable about the model, and knows what to look for. A good mechanic can run the usual inspections, but if he doesn't know about the quirks of the 550, he's going to miss a few things.

Also, I would not be lulled into feeling secure about a car that "just" had a major done. Several of our owners acquired their cars just after a major was done, presumably to make the cars more attractive for the sale, only to find out that the major had been poorly done. Fortunately, the owners noticed the car was in distress before anything serious ($$$$) happened, but it could have been far worse. IMO, a major poorly done is worse than not doing it at all.

Lastly, I would steer clear of any car that doesn't come with its service history. Any Ferrari owner knows the service history of the car is a treasure trove for future owners, and it enhances the value of the car. So any car that doesn't have it is suspect, IMO.

[550JM]

Ed- I totally agree with Onno's and John's comments and would like to add some thoughts.

The 12 cylinder is such a dream with loads of torque and unlimited power, always there when you need or want it, no matter the speed. It makes you feel very confident driving it and it delivers it's power very predictable.
Of course it's very important that you know whether the car has had it's regular maintenance and miles on the road, and that you know as much as possible about the history. However, we all know that a gorgeous looking 550/575 in immaculate cosmetic condition doesn't say anything about the technical state. Therefore a PPI by an experienced Ferrari mechanic is absolutely the most important thing, even if the car looks brand new. Restrain yourself when test-driving the first one you go see, (you'll fall in love instantly) and try to test-drive more of them before you decide. To me the technical state is number 1. Cosmetic issues can be resolved more easily then a beat up engine that wasn't properly maintained or driven. In the first case you know what you will spend, in the second case you'll end up spending serious cash without knowing where it stops....
Anyway, owning a good one is a dream to own and drive....
Good luck with your search and please feel free to post links to the cars you find so we can also see them. Happy hunting!

[JazzyO]

Originally Posted by cribbj

Also, I would not be lulled into feeling secure about a car that "just" had a major done. Several of our owners acquired their cars just after a major was done, presumably to make the cars more attractive for the sale, only to find out that the major had been poorly done.

Very good point, John!

If you know a good specialist, it might be a good idea to haggle the price down taking the major out of the equation, and then have the major done with someone you trust. This is not always possible, of course.


Onno

[JazzyO]

Originally Posted by 550JM

technical state is number 1. Cosmetic issues can be resolved more easily then a beat up engine that wasn't properly maintained or driven.

Although I agree with those statements, I would caution against only looking at the technical state. Cosmetic issues can be very costly to solve, and mechanical issues are not always very expensive.

For me, the golden rule is to ensure all 3 sides of the equation are in great condition. Interior, exterior, and mechanics.

A fantastic 550 will cost only 15% - 20% more than a mediocre one. The trick is to buy the best, and you can save all the fixing whether exterior, interior, or mechanical.


Onno

[wetpet]

my philosophy exactly. Much rather pay less and make sure the work is done right. I take it a step further and don't get too hung up on the records. An excellent mechanic can test and inspect enough to know what's up. Even down to scoping the cylinders to look for wear. I'm sure there are cars out there with copious records that are worse off than some with no records. I drank the cool aid on my ferrari and demanded the best, with records and paid top dollar. I wish i hadn't. I ended up really liking to drive it which goes against the pristine, low mileage paradigm. Wish i had payed less for one with a few more warts. My lambo was a good example. It was sort of a distressed sale and i didn't get a single record for it's 10 years. had been sitting a long time too. The fuel pumps were frozen and had to be replaced, the tires dry rotted. But i had one of the best mechanics in the country go over it, fix what needed to be fixed and it was a beautiful, trouble free car the 2 years i owned it. sold it for top dollar too. Hell it didn't even have a key fob to turn the alarm off. So don't necessarily shy away from a car with no records. It's true that it's more likely to have a problem then one with records, but that is all easily checked out. I know, i am the ferrari antichrist! no records, no way

Originally Posted by JazzyO

Very good point, John!

If you know a good specialist, it might be a good idea to haggle the price down taking the major out of the equation, and then have the major done with someone you trust. This is not always possible, of course.


Onno

[eddevine]

Thanks again everyone.
I'm so close.

Ed

[Bill]

Nothing more to add...

Welcome to F-life and I think your looking for one of the best Ferraris around !

You couldn't get mine away from me.

When you get it Drive it, They love to be driven !!!!

cheers,

bill

[eddevine]

I have been talking to a seller of a 55 Maranello that looks pretty good and he wants money deposited in an amazon FPS acct. up front.
Has anybody heard of such an account?

I am not putting cash out there without a PPI which we have scheduled for next week, he wants the money now.

My gut tells me to move on.

Ed