575M Maranello valuations - Ferrari Life
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post #1 of 22 Old 07-05-2016, 06:04 AM Thread Starter
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575M Maranello valuations

Though I know that Cavallino Magazine is notoriously late in updating their market pricing information (as pointed out to me by Terry), I think its worth noting that in this month's June/July 2016 issue of Cavallino Magazine in their "Guida" section (where they attempt to present market values of all past and current Ferraris), they have finally upped the valuation of the 575M Maranello as being valued from US$175,000.00 to US$450,000.00 (logically the lower value for the F1 model and the higher value for the rarer 3 pedal model). Previously they had it valued at a starting price of US$100,000.00, so this is a big jump in the lower valuation starting point. This incidentally comes around the same time that Mike Sheehan of Ferraris-Online.com and sometime contributor to Forza-Mag has gone on record valuating the F1 version of the 575M Maranello at no higher than $100,000.00. Any opinions out there?
Clyde
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post #2 of 22 Old 07-05-2016, 06:24 AM
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So much depends on condition, mileage, service history, L or RHD, manual or F1. I doubt if a 100,000 mile LHD F1 with a few gaps in its history and in need of a bit of TLC (commensurate with the mileage) would make $175K and I would have thought that even a delivery mileage RHD manual would be pushed to sell at $450K, but the value of Maranellos never ceases to amaze, so who knows?

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post #3 of 22 Old 07-05-2016, 10:16 AM
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Clyde- I think the bottom number is wildly exaggerated. There are plenty of good F1 575Ms available for around $120K. High mileage ones for even less.

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post #4 of 22 Old 07-05-2016, 10:44 AM Thread Starter
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Clyde- I think the bottom number is wildly exaggerated. There are plenty of good F1 575Ms available for around $120K. High mileage ones for even less.


Thanks for your comment and feedback Terry. Since mine is a high mileage one (40,000 miles) perhaps it's closer to the $100,000 figure then?
Clyde


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post #5 of 22 Old 07-05-2016, 07:16 PM
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Clyde- Somewhere in there. One with 46,000 miles on E-Bay has a price around that figure.

Taz
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Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

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post #6 of 22 Old 07-06-2016, 07:52 AM
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It's an interesting reflection on Ferrari ownership that 40,000 miles is considered "high mileage" for a c. 15 year old car.

Best wishes, John
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post #7 of 22 Old 07-06-2016, 08:09 AM Thread Starter
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Originally Posted by Bluebottle View Post
It's an interesting reflection on Ferrari ownership that 40,000 miles is considered "high mileage" for a c. 15 year old car.


True but that's the reality when it comes to Ferraris in North America (not so much in Europe where they value a higher mileage car that has been looked after properly). It's actually 14 years not 15 though.
Clyde


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post #8 of 22 Old 07-06-2016, 10:20 AM
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And in the US, 40K wouldn't be just "high" mileage, but very high....

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post #9 of 22 Old 07-06-2016, 10:55 AM Thread Starter
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And in the US, 40K wouldn't be just "high" mileage, but very high....
I know (unfortunately)
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post #10 of 22 Old 07-07-2016, 12:15 PM
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We currently have 10 for sale, this should give you an idea about the prices:

Ferrari 575 M For Sale
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post #11 of 22 Old 07-07-2016, 01:01 PM Thread Starter
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We currently have 10 for sale, this should give you an idea about the prices:



Ferrari 575 M For Sale


That's really a huge price spread between them. I guess the most expensive are manuals, but even between the F1 versions there seems to be substantial price differentials.
Clyde
P.S. None of them have anywhere close to my mileage which is not encouraging


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post #12 of 22 Old 07-08-2016, 01:45 AM
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We currently have 10 for sale, this should give you an idea about the prices:

Ferrari 575 M For Sale
That is very interesting.

Apart from the fact that I simply cannot understand how one or more owners of a 575 could keep it for 14 years and drive less than 11 miles a year (!!!!), the price differential between the first and second most expensive of the cars listed (ignoring Superamericas) suggests that if a new owner of the former were to put 5,000 miles on the car, he would lose $125,000, or $25 for every mile driven. So surely nobody who actually wanted to drive the car (which is what cars are for), would be stupid enough to buy it. Assuming that one is looking at this in purely investment terms (sad), is $300,000 a good return over 14 years on a car that probably cost getting on for $250,000 when it was new (I stand to be corrected, as I don't know what was the list price for a 575 in 2002, but it must have been somewhere in that region, with a few options)? I don't think so.

The fact that a sub 20,000 mile 575 is on offer at $130,000, suggests that the lower figure of $175,000 mentioned above is way too high. What would be the price for, say, a 50,000 mile 575?

Best wishes, John
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post #13 of 22 Old 07-08-2016, 03:38 AM
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Originally Posted by Bluebottle View Post
That is very interesting.

Apart from the fact that I simply cannot understand how one or more owners of a 575 could keep it for 14 years and drive less than 11 miles a year (!!!!), the price differential between the first and second most expensive of the cars listed (ignoring Superamericas) suggests that if a new owner of the former were to put 5,000 miles on the car, he would lose $125,000, or $25 for every mile driven. So surely nobody who actually wanted to drive the car (which is what cars are for), would be stupid enough to buy it. Assuming that one is looking at this in purely investment terms (sad), is $300,000 a good return over 14 years on a car that probably cost getting on for $250,000 when it was new (I stand to be corrected, as I don't know what was the list price for a 575 in 2002, but it must have been somewhere in that region, with a few options)? I don't think so.

The fact that a sub 20,000 mile 575 is on offer at $130,000, suggests that the lower figure of $175,000 mentioned above is way too high. What would be the price for, say, a 50,000 mile 575?

People are crazy ...
The Maranello's, if have correct maintenance, with 10000 or 5000 miles is exactly the same car, the car with 50K miles have not damaged in respect to the first ...

I purchased my 2004 HGTC on 2013 with 24000 miles (38.5K Km) and today have 27 K miles (44K Km), probably my 575 is better today in respect to the day of the purchased ....

People are crazy and collector more ....

Fabio

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post #14 of 22 Old 07-08-2016, 08:07 AM
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I entirely agree with you, Fabio. My 550 is just about to turn 40,000 miles and I have to say that I would never dream of describing it as "high mileage". My 911, at just under 140,000 miles, is more likely to fit that description, but IMO it is good for another 140,000 at least and I certainly would not go out of my way to swap it for a low mileage car.

There is no doubt, however, that the market puts a premium on low mileage cars, especially with Ferraris (and even more so in the USA than here in Europe, where we indulge in the apparently strange habit of driving our cars!). If I were in the market for a Maranello now, I would take advantage of this and look for an 80/100,000 miler in good condition with perfect service history - much better value for money IMO than a sub-20,000 mile car. And I would positively steer clear of a sub-1,000 mile car - not just for the price, but because cars need to be driven regularly to keep them in good condition.

Best wishes, John
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post #15 of 22 Old 07-08-2016, 08:13 AM
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Fabio,
All markets have an element of irrationality. The Ferrari market is no exception. And in the US, that irrationality revolves around mileage.


Clyde,
With the number of cars on the market right now, I would be surprised if your 40K+ car could bring six figures.

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post #16 of 22 Old 07-08-2016, 08:20 AM
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Originally Posted by Bluebottle View Post
And I would positively steer clear of a sub-1,000 mile car - not just for the price, but because cars need to be driven regularly to keep them in good condition.
100% true

Fabio

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post #17 of 22 Old 07-08-2016, 12:34 PM Thread Starter
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Originally Posted by Bluebottle View Post
That is very interesting.

Apart from the fact that I simply cannot understand how one or more owners of a 575 could keep it for 14 years and drive less than 11 miles a year (!!!!), the price differential between the first and second most expensive of the cars listed (ignoring Superamericas) suggests that if a new owner of the former were to put 5,000 miles on the car, he would lose $125,000, or $25 for every mile driven. So surely nobody who actually wanted to drive the car (which is what cars are for), would be stupid enough to buy it. Assuming that one is looking at this in purely investment terms (sad), is $300,000 a good return over 14 years on a car that probably cost getting on for $250,000 when it was new (I stand to be corrected, as I don't know what was the list price for a 575 in 2002, but it must have been somewhere in that region, with a few options)? I don't think so.

The fact that a sub 20,000 mile 575 is on offer at $130,000, suggests that the lower figure of $175,000 mentioned above is way too high. What would be the price for, say, a 50,000 mile 575?
There is a 2004 575 for sale in Montreal with less than 10,000 kms on it. I wonder how someone managed to drive less than 1000 kms a year with their 575? Of course the car looks mint from other appearances but may have problem issues associated with the lack of driving, which most buyers don't seem to acknowledge when comparing to a high mileage car like mine.
As far as what a 50000 mile 575 would be worth, I plan to to find out .
I believe that in 2002 the 575 was selling for approximately $250,000 before options, but if I'm wrong I hope someone here will correct me???
Clyde

Last edited by tifosi_; 07-08-2016 at 12:41 PM.
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post #18 of 22 Old 07-08-2016, 12:38 PM Thread Starter
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Originally Posted by 550_Maranello View Post
People are crazy ...
The Maranello's, if have correct maintenance, with 10000 or 5000 miles is exactly the same car, the car with 50K miles have not damaged in respect to the first ...

I purchased my 2004 HGTC on 2013 with 24000 miles (38.5K Km) and today have 27 K miles (44K Km), probably my 575 is better today in respect to the day of the purchased ....

People are crazy and collector more ....
I purchased my 575 in September 2012 with 30,000 miles on her. I had a month of driving before putting it away for winter storage. Last summer I had her in storage for half the summer because I was moving. I have put 10,000 miles on her since purchase, so as you can see I am not holding back. Still it bothers me that I am told that my car is worth so much less because of the high mileage. I guess it just means that I'll be hanging onto it longer .

Clyde
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post #19 of 22 Old 07-08-2016, 12:40 PM Thread Starter
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Fabio,
All markets have an element of irrationality. The Ferrari market is no exception. And in the US, that irrationality revolves around mileage.


Clyde,
With the number of cars on the market right now, I would be surprised if your 40K+ car could bring six figures.
You could be correct, though I was recently offered 6 figures on a trade to a 599 which I expressed interest in. The only problem was that they were asking double for the 599.
So I plan to keep my 575 and continue to enjoy it as long as I can.
Clyde
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post #20 of 22 Old 07-08-2016, 12:48 PM
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Originally Posted by tifosi_ View Post
So I plan to keep my 575 and continue to enjoy it as long as I can.
Clyde

Best wishes, John
Ferrari: 550 Maranello S/N 110995, Dino 246 GT S/N 6934
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