LHD 550 auction result

[Ian Roberts 86]

There was a LHD 1999 550 in the Silverstone Auction at the weekend. Just brought in to the UK, NOVA'd but not registered or MOT'd (left to the new owner) with a sparse and far from complete history, cambelts in 2008, with only 3 stamps in book. Sold for £73125, great colour combo but pricey. Are they really still going that far northwards pricewise ?
https://www.silverstoneauctions.com/1999-ferrari-5...

[clarkei]

They look great, go even better. So why not. Look at the prices of the cars that preceeded it. So a quarter of the price one would pay for a Boxer. A third of the price of a 512M? I would assert that a 550 is way better. You could say a 599 is better again, but is is too big.

[roygarth]

Ian Roberts 86 said:

There was a LHD 1999 550 in the Silverstone Auction at the weekend. Just brought in to the UK, NOVA'd but not registered or MOT'd (left to the new owner) with a sparse and far from complete history, cambelts in 2008, with only 3 stamps in book. Sold for £73125, great colour combo but pricey. Are they really still going that far northwards pricewise ?
https://www.silverstoneauctions.com/1999-ferrari-5...

The market for these is on fire at the moment. There are only 6 for sale on P/H including a RHD at £160K and a LHD at £115K.

In the eyes of many, Blue and Tan/Cream is THE colour combo for the 550.

[Ian Roberts 86]

I agree the colour combo is great, but assuming the history is as patchy as they say then there is probably a £5k bill to get her into good shape, but the history will always still be patchy. As already said the market is on fire and its supply and demand. Not complaining though as I got my 550 from Germany last year at the 'old' prices and still cant stop grinning every time I take it out its just so bl**dy awesome to drive.

[harrykul]

As another that got in with a 28k miler just in time, that made for great reading.
Also think the £5k overhaul budget to me very optimistic: double that seems closer imho

[roygarth]

A key to their value is that the 550 is an amazing drive - whether it be a 10 mile thrash on A/B roads to get the milk, or a 1500 mile high speed cross Europe cruise, the 550 is simply brilliant.

I'm not sure the same can be said about the 12 cylinder Ferraris that preceded it (OK perhaps the 456 but I cant get past the looks and don't do 4 seater sports cars.) The 575 is great also - but Auto only unless you want to pay silly money for manual.

[phib]

Wonderful news !!! I bought mine a while ago too it is simply sublime to drive, did 600+ miles on it in one day bringing it home.

Its got impeccable history though, the supply does seem to have dried up now !!!

Someone (a so called expert !!) expects them to be £200k within the next 5 years !!

At the time I thought they were mad .... I am not so sure now !!!

Is this £73k + fees ?

Phib

Edited by phib on Monday 27th July 17:26

Edited by phib on Monday 27th July 21:05

[Ian Roberts 86]

I assume its plus fees, the link just said 'sold for' so I assume the fees are on top. That's £75+ then......

[johnnyreggae]

Very unlikely that it excludes fees since hammer price would almost certainly have been a multiple of whole thousands not a fraction

[phib]

Normally fees are on top of hammer price, all normal /BCA / brightwells auctions are.

Top class's ones may be different but I thought silverstones fees were 12.5% on top of hammer price

I may be wrong though

Phib

[diametric123]

Its including fees

I was there and (as another owner) pleasantly surprised by the interest in this one - nice looking car but extremely patchy from a history perspective

[phib]

£73k for a patchy one seems strong but I guess its colour combo and the fact supply is short thst drove the price.

Will be interesting to see if it ends up in the trade or if it was private buyer.

Cant help but think the market (Not just Ferrari's) is due an adjustment at some point, cant see it continuing. I did however say this when 2.7 rs's hit £200K ..... so please don't listen to me !!

However as others have said its all irrelevant unless you actually sell or unless you are looking at it to make money / are highly geared.

Rightly or wrongly I have set a price in my head that if the 550 hits X price its going, only as it would let me do two things I have always wanted to do.

Just my 2p's worth

Phib

[Als911]

Got my 1999 550 just before xmas, first venture into Ferrari ownership. Porsche is
My main passion, but I'm very impressed with my 550. Liking it so much it's now doing
A Euro tour with some mates, probably do a couple of thousand miles on the trip. ??
Ps. They ain't no slouch, it goes mighty fine ?????? well impressed with the performance.

[nutbehinddawheel]

Als911 said:

Got my 1999 550 just before xmas, first venture into Ferrari ownership. Porsche is
My main passion, but I'm very impressed with my 550. Liking it so much it's now doing
A Euro tour with some mates, probably do a couple of thousand miles on the trip. ??
Ps. They ain't no slouch, it goes mighty fine ?????? well impressed with the performance.

Hi Al,
Don't forget the fly spray-they love yellow cars.
Enjoy the trip.
Tony

[cgt2]

Interesting pricing. This car was really not very nice, but I have always remembered this colour combination commanding a premium. I sold my 45,000 mile but mint Grigio RHD car last year for virtually the same money, wonder how much that would be worth now?

[crostonian]

Wish I'd kept mine, sold it in 2006 for £45k to help fund a house purchase, it was a 1998/R in Rosso with Nero, 1 owner prior to me and only 19k miles. Oh well, at least I have a house that's worth about £10k more than I paid for it.........

[cgt2]

550's were always very undervalued in comparison to 355's and 360's. It would always be my pick of the three.

[Als911]

nutbehinddawheel said:

Hi Al,
Don't forget the fly spray-they love yellow cars.
Enjoy the trip.
Tony

Your not kidding Tony, I maybe better put a fly swatter in the car :-)

Cheers Al

[R5OHH]

Really don't think these look expensive at sub £100k.. A true classic and last of a dying breed.. So much better than some of it's predecessors. They have also become increasingly beautiful with age! The pozzi blue on this car might not have been for everyone nor the crema interior but nonetheless a nice car. Prices will no doubt keep on climbing. Hopefully the buyers out there are putting some miles on them and not parking them up as they really are so useable.

[priley]

Did 2500 around Europe miles in mine the week after I got it, including about half a tank going up the Stelvio! Just eats the motorways. Wasn't too keen on the 40º heat though, a few air-con-off moments.