296 Values and Used Market

Wonder what this hammers at.

I suddenly have a hankering for a Big Mac.

https://sbxcars.com/auction/143/2023-ferrari-296-gtb-assetto-fiorano

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yikes...

 

I suppose that colorway will appeal to someone, but I can't imagine it will get the broad appeal needed for a big hammer price...

 

with cars in the EU at 100K below MSRP the question is whether that trades above or below the 100K mark..

 

I don't know anything about the site but auto scout seems to have a lot of 296 cars for sale. I thought there were quite a few in the US but not near the total in Europe. Just an example is a 22 demo car(s) I have been looking at, which are all very close spec; in the US the cheapest asking is 400k, and it has a lot of miles (7k) and some small rock chips and interior wear, the other is pretty perfect low mileage car but 470k, both these sticker roughly at 450k, (same spec) low mileage in Germany has a converted asking price of 332k. On the website you can find other ow mileage 296 GTB's listed asking just above 300k, nothing in the US touches that. Maybe huge taxes keep these prices down but I would guess the original price on the cars no matter where they land is close. Also just to add to it, one dealer I am working with has (6) 296 the other (3) and they have had them for some time and they are some of the lower priced cars out there in the US.

 

It seems like pricing in the US is sticky, but not many cars seem to be actually selling. Not sure if that's because there are "flippers" and they are looking to recoup their cost plus taxes in US. Regardless, they don't seem to be flying off the shelves. Might also have something to do with Ferrari re-opening the order books in March.

 

Yea McDonalds ruined that color scheme forever... yikes

 

I'd take some fries and a McFlurry....would skip the mystery grade burgers.. LOL

 

I have seen a couple move and they were asking on the lower end like 20k over BUT I have no idea what they actually brought; did the buyer pay over or did they negotiate a deal close to or under MSRP? You are right though I think there are more 296 for sale than any other model (maybe F8) but they have been out for such a short time, the percentage for sale to produced has to be high. I get the guys who want to try and flip to make $$ and or may have a GTS on order but to me as each day passes with more showing up for sale every day, and their car not selling, money in the bank earning interest while waiting on the GTS (if they have the car financed even worse) would be better than the hope of a big flip payday. Of course my thought is skewed because I am a potential buyer and want one "cheap".

 

Nood question. How is it possible for flippers to receive allocations for new builds when there are ROFR and other documents required? They just wait out the holding period and then try to sell them? Is FNA ok with them doing this over and over?

 

I remember reading that their fries are less than 50% potato or something crazy like that...

Like Taco Bell puts silicone into their meat so it doesn't stick in clumps

The big chain fast food stuff is all poison

 

I think more likely they are customers who want to take "every" car they can in an effort to get a shot at the more limited builds. There are very few cars for sale outside of Ferrari dealers, which leads me to believe these are customers who took a car and (i) either thought they could make money on it so took the car even though they might not really want it or (ii) maybe ordered site unseen and didn't like it as much.

All that being said, I'm hoping some of the folks in the queue ahead of me see the easy money isn't there and decline so I get mine sooner. I want to drive mine.

Many of these cars being sold have less than 1,000 miles, which makes me think the buyers never intended to drive them (or have so many cars that they took the allocation because they figured they wouldn't get hurt even though they didn't particularly want it).

IDK, I'm not in any of these categories, so it's just speculation.

 

No question, but at least the fries taste good.

 

Silicone yummy too depending on its location (Don't have first hand knowledge)

 

Probably part of it. I was offered an order slot last week

 

Do you know if Ferrari has reopened order books for 296 (was it GTB or GTS?) or if you were offered a slot due to a canceled order?

 

Ferrari re opened the order books, at least on the GTS. I was given my order slot about 2 months ago, right after they re opened them, according to my dealership.

 

Not sure. Sorry. was a dealer I just stopped in at, no relationship with them.

 

That's interesting. I asked for a gts recently and was told no slots. they told me I could order a Roma spider.

 

Yeah I heard the same from two dealers earlier this year. I also asked about cancelations and they said no one is cancelling.

 

I was on the list of “pre orders” since early 2023, so maybe that’s why I got an order slot if they are now saying they are closed again.

 

Wow got any links for sale 296's

 

You may have got a cancelled slot

 

Go check out autoscout24.com

 

So you got me looking again at European prices, look at 458 pricing compared to US, it seems to be in line with or slightly higher than US prices, 296 just the reverse.