296 Values and Used Market

The key message in this article is do not go overboard with spec . Many of the historic colours , three layers etc are on the fringe of broad market acceptance .

Resale red still works and there are 15 reds to choose from so perhaps a 3 layer red and s safer than a 3 layer of a purple or green .

Lifters are a must but painted shields do not show a return . Carbon holds some value , and external carbon works reasonably well , try to use push your dealer on price of this.

Above all the amount of all cars , not just Ferrari’s that depreciate far outweigh those that hold or appreciate and this is very true is a large market ( the US is the largest) where the price can be set by the last person who absolutely had to dump the car for whatever reason.

If you do not factor in the above you are flying blind into a storm , how bad the storm is depends on how wide your eyes are open at the beginning.

 

you can have mine, it will be here in May/June. I don't want it, I really like my Urus Perf, it does everything very well.

 

Hard to admit to myself, but I would love to cancel my PS and get my $510k back from my 296GTS (and sell my 812C) … this is just reminding me of 2007 … feels like bad stuff is heading our way …

 

The euphoria of getting every single model by trading in the old one is over. First of all the new models aren't necessarily better. Haptics for example in the 296 and SF90. Not better than the old buttons and switches. Hybrids- not necessarily better (just like EV isn't better). People tolerated it for a few years. because prices were guaranteed to go up or be stable- but now that you have to think that you may lose 50-100k or more the novelty has worn off.

Some people dont care about depreciation and they buy the car to enjoy- but they also aren't buying every single model that is released. It's telling that so many people want to bail on the Puro- it's not surprising- car doesn't make sense to me. But right now- neither does Ferrari business model. Chickens are coming home to roost....

 

With that said, my car has arrived haha

oh well, I’m still excited. Like a wise man said to me earlier when discussing whether to take it, YOLO…
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Great spec! Enjoy.

 

Which Red is your car?

 

You may well be better to walk and lose whatever youve put down. The exclusivity game ferrari was playing to justify the ridiculous price appears to be backfiring now.

 

Rosso Maranello

 

Looks a nice spec. Congrats!

 

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Congrats, can't wait to see it in the sunlight.

 

Just my two cents, I don’t think it’s 2007, but something is clearly going on. Equity markets are detached from reality with political tensions in the US at all time highs and a staggering US budget deficit.

 

Color is stunning!!

 

The problem appears global. Other than the minority of extremely wealthy, who will buy regardless of heavy depreciation, the remaining majority of wealthy are exercising more caution with paying the now significantly higher Ferrari prices. It’s gotten to a stage now to where the levels of depreciation being seen are a real turn off. With PS most look at it and wonder how on earth can an SUV possibly be worth so more than twice the price - and in some cases 4 times more than competitors such as Urus and Cay Turbo GT. It doesn’t make sense. At least with a 296 or 812 these will retain more appeal than an overpriced and used SUV in the wider market.

 

You didnt buy the car to make money or as an investment. You bought it to enjoy the hell out of it which I hope you do!! Congrats.

 

Ya it’s nuts!

 

Everyone in this thread who can afford a Ferrari is “extremely wealthy” by world wide standards.

 

I can’t answer for that. I can only vouch for how i see the market playing out as a buyer with the means. I was keen on ordering a PS but after evaluating the competition, it made no sense to pay twice to 4 times as much for an all purpose vehicle which needs to be changed every 24-36 months.
Now a sports car is an entirely different thing!

 

My own review from here in October 2023 after my test drive:

 

I subscribe to your way of thinking. Regardless of how it drove it wasn’t notably better than the Urus or CGT (didn’t drive the Aston). The seats were too hard and the user interface needlessly frustrating. I thought for any benefit it may have possessed in handling i had better cars in my garage to suit that purpose anyway.
At the end of the day, as attractive as it is, it was still an suv/all purpose type vehicle, just with an absurdly high price with no logical reason to support it other than having an exclusivity factor which would diminish over time anyway. The environment for very heavy depreciation was hard to overlook. All SUV’s will see reasonably heavy depreciation so why pay double or quadruple for one that is less usable and then lose twice to 4 times as much when you need to change it? I also have other sports cars to use for fun driving. Im hardly going to grab the keys to a PS for a weekend drive with guys in supercars when i have supercars to drive. No matter which way i looked at it, it didn’t add up. So i said thanks, but no thanks. There are better cars to lose money on which make more sense imho.

 

Congrats, beautiful spec.

 

So not to beat a dead horse because this thread is reeeeediculous. But I am with you. Extremely expensive daily driven SUVs are dumb. I lost $50k on my Cayenne Turbo GT. It also was so good to drive it made the special cars less special. I like the differentiation of an electric SUV daily. It’s cheap to run. Cheap to buy. And makes the super cars feel quite super. Plus a monster in the snow.

I can’t see why a PS is worth $300k much less $500k.

but I think SF90 and 296 are undervalued now.

 

Disagree. This chart is totally irrelevant. Comparing the UK, Germany and US markets as if they are equal is absurd. The US GDP is 6x bigger than Germany and well over 8x bigger than the UK and somehow they are equivalent in the chart?