296 Values and Used Market

Interested to see how this finishes out.

https://bringatrailer.com/listing/2023-ferrari-296-gtb-6/

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Like a lot of BAT it may end at RNM or a dealer buys it and it shows up online a month later at a large markup. Same bidders/dealers as most of the high end auctions.

 

I feel like anyone nowadays trying to unload (yes, unload, not "sell) a 296 on BAT is really desparate.

 

Someone(s) (lawdawg97, TheNewModial) left many comments on that BaT listing saying the 296 is 'The New Mondial' and has rightfully received a lot of pushback from other BaT posters. It's likely the same person on FChat constantly saying the same thing. Seems to be on a crusade.

 

https://bringatrailer.com/listing/2023-ferrari-296-gtb-6/

this was interesting to watch. I'm not sure yellow is the most desirable color? for basically 25K under MSRP thats not too bad!

 

I bid for a while but didn’t like it within about $30k of msrp. I do love yellow!

 

Seems like a lot car for the money. One of the comments on the auction was that people are paying more for a 992 GT3 RS. It’s a fair point, and I take no offense having recently acquired a GT3 RS myself.

 

For sure. Mine sold private party for significantly over. But they are coming down a bit, gone are the days of $150k over.
The 296 is nearly a bargain at todays price.

 

That car is very close to what I just bought. Yellow 23, 800miles, mine does not have the 13k bi color roof, so minus that, (mine is wrapped black though) my msrp is very very close, i paid 360 delivered to my door so also very close on final selling prices.

 

It's not good for Ferrari to have their new mid engine selling 10% under msrp out the door. I was a long time client and finally just gave up, I love the cars but I don't think their pricing will hold. Due to the increase in production and models I think the new models will depreciate, and I hate to say this, like many other cars. I am now longer casing the new cars but getting the ones I dreamed about 25 years ago

 

I don't think 10% under MSRP is bad for a car that is going on 2-3 model years old, prices have just begun to settle after beeing soooo inflated for so long.

 

not sure what you mean by "out the door" but these cars are a year old and have hundreds of miles on them. 10% seems reasonable.

 

Hundreds of miles seem pretty new to me, don't forget an owner probably is getting more like 20% off the msrp from the dealer. I don't think it's a Mondial but probably a Roma.

 

600 miles to me is new, it's just a few hours driving on the motorway

 

I wouldn’t blame anyone for selling on BaT as there are several hundred 296s for sale in US right now and this guy sold his car and no one else did.

10% below list seems like a result. I still think these entry level cars are too expensive. I’m paying this week for my $510k msrp plus tax 296gts and fully expect to get smoked on this car over the next year.

 

Only if you sell.

 

Just sent a wire for $540,000 it actually made me feel nauseous. Maybe I’m aging out of playing this game.

 

It is shocking to the system. Where I live is 10.25% tax. So that’s fun. Looking forward to hearing what you think about the car. Since I just ordered mine, it’s a little bit of a ways off, but I’m excited to drive it.

 

Whilst second hand values are dropping I just got the revised invoice from my dealer and there is a price increase from the time of confirming the order and paying deposit - November or December 2023 (specs done and expression of interest money paid around August 2023) to now when the car is about to be delivered of about 8%. Still feel lucky my first Ferrari purchase arrived much before some people who have had to wait and continue to wait much longer. Being in UK I guess has the geographic advantage but over here at least they reserve the right to increase price at their discretion and it even says so on the purchase agreement. I am going to keep and drive the car for a while, so happy days coming soon. Feeling Blessed


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which dealer is giving 20% off msrp? can I have the name please?

 

lol

 

Which is one of the many reasons I asked for my deposit back on a 296 GTS. When I first placed the deposit in 2022 my spec came to $440k and was told it would be a two year wait. I figured my Portofino was worth $200k, so I was looking at $240k net on the trade. But with the 296 GTS price not locked in, Portofino prices dropping, and a meh test drive I decided to pass and keep my Portofino.

 

Curious what the meh part was of test experience. Thank you.

 

I think an 8% increase from when you ordered the car is insane. Mine was $5,000 over and I was not happy. Maybe I’m wrong but I’m not aware of any other car company not locking in the pricing once you have done the final spec.

 

I agree with you 100%. This is the reply I received from the salesman. Also, on purchase order it did mention that the price could fluctuate and let’s face it, they are holding all the cards:-

“Good to see you today the 296 does look awesome on the not so awesome the price increase was applied by Ferrari on all the models so any cars we have been delivering last 3/4 months have been affected unfortunately it’s not just the Ferrari brand it’s most major car brands and also everything else in retail in the UK”

As far as I know inflation is around 2% in The UK. When we ordered cars before (it’s been a few years since this happened) - the price was as per the invoice on placing order. So it’s disappointing and inconvenient as well. Mine is about £ 28 k more than it was when I ordered it ~ $ 37k - more like 9% come to think of it. I could have walked but it’s been a dream to own a Ferrari. Was very lucky in that between allocation and vehicle arrival at the dealer less than a year passed but pissed off to have to pay such a huge difference, not inconsequential for me because it took me a long time to have the resources and courage to pull the trigger. Still glad I did and feel very privileged and grateful to be able to do so.


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