Market Crushes 2002 Ferrari 575M Maranello, Owner Refuses To Sell for Just $72,500

I generally tend to view the 550 and the 575M as the same car, because we’re basically dealing with a facelift/upgrade. These exotics marked Ferrari’s return to a front-engine, rear-wheel drive layout for their 12-cylinder models, a first since the days of the 365 GTB/4 Daytona.

In a vacuum, of course the 575M is a better car than the 550. Updates include a redesigned interior, a larger and more powerful V12 engine, plus several mechanical improvements like bigger brakes and an improved gearbox. By the way, the ‘M’ in 575M stands for Modificata (modified), which is exactly what this was.

When the 575M first came out, it retailed for around $220,000 – when adjusted for inflation, that comes up to almost $400,000 by 2024 standards. Yet, buying a used one today can make for a great deal, especially if the car isn’t necessarily in mint condition, which is the case with this low-mileage Argento Nürburgring example.

The car failed to sell at auction recently because the most anyone was willing to pay was $72,500. In other words, people didn’t love the condition of the car, and the top bidder wanted to see if they could land it “on the cheap”. They failed though, because the seller didn’t bite, and the car lives to fight another day. My take is that they should at least fix that paint chip at the front. It sticks out like a sore thumb.

In terms of specs, this Ferrari comes with xenon headlights, fog lights, a hood scoop, quad exhaust tips, 18” five-spoke alloy wheels with Pirelli P Zero Rosso tires, red-finished calipers, power-adjustable Daytona-style Nero leather seats, automatic climate control, power windows, a remote six-disc CD changer, and a leather-wrapped steering wheel.

Meanwhile, under the hood lies a 5.7-liter quad-cam V12 power unit, factory-rated at 508 horsepower and 434 lb-ft of torque. Everything is getting sent to the rear wheels via a six-speed F1 sequential gearbox and a limited-slip differential. It’s worth noting that the 575M is making 40 horsepower more than the 550 Maranello.

One final point I’d like to touch on is the mileage. According to the ad, the odometer was fiddled with (repaired or replaced) and reset to zero miles in December 2017, while an invoice from October of that same year indicates a previous odometer reading of 9,526 miles. Basically, we’re led to believe that this car has traveled just under 11,000 miles since new, which is still a decent figure.

What do you guys think, should the owner have accepted the $72,500 bid or were they right to hold out for more?