296 Values and Used Market

All logical reasons to sell, and i concur with most issues mentioned, but i must ask what was it that motivated the purchase in the first place? Youve also done so little miles, so why not put another thousand on and spend a bit more time in it - give it a bit more time to adjust. I mean if you’re in for a 50k loss anyway i just cant see how another thousand miles will make or break someone from buying it.

 

Why did you order the car? lol it seems to fulfill the exact opposite brief that you want.

 

Because like other TOP and VIP customers I was on the Ferrari abuse treadmill, forced to buy all the cars I didn’t want so I could buy the cars I did want like the 812 comp. Turns out the 812 comp was annoying too (for different reasons). Anyway that game is over, price hikes are so extreme even the limited cars have no money left in them, look how the F80 tripled in price compared with the LF. VIP and TOPs have the passion for the brand but not (to quote Jay Leno) when it’s like dating a dominatrix. For those that have the passion for the brand and don’t care about the economics, go for it, this is the only way it makes sense. Personally I’m out, I’m not buying into the 50% price hikes, I have cancelled the Purosangue - imagine an SUV for $600,000, I passed on the 12C spider at a 50% price hike to the 812GTS, I’m done. I don’t want fiddly plug in cars that don’t sound good and have V6s.

I don’t care about doing another 1,000 miles in the car because I hate the car, just want whatever I can get back of my money so I can move on.

I spent a fortune on Ferrari challenge buying all the overpriced parts and doing all the courses like they asked, when I passed on the monumentally idiotic monza I was immediately black listed from TOP - imagine that. They offered me a non road legal car without a windshield for $2m! I have passion for Ferrari and I don’t even mind spending the money, (and doing Challenge was a bucket list item) but this is an abusive relationship. In business and in your personal life, people treat you the way you allow them to treat you and I’m done.

Do I sound jaded after 15 years of abuse? You bet.

 

I bet there isn’t. The current asking price is $488k, which means MSRP was $510K. At $50k under MSRP it’s still a $460k car that’s been spec’d by someone else. Now maybe it executes there if it’s the exact spec that a buyer wants, but other than that I think it trades a lot lower than $50k under MSRP.

 

Beautiful car, if only it had racing seats. ☹️.

Good luck with the sale.

 

You do sound jaded but I don’t think you’re wrong.

 

Sorry you have been treated that way. terrible way to do business.

 

Yup. So here’s a question, if there’s a wholesale bid $50k below MSRP, why wouldn’t you smack it instead of consigning your car? You already lowered the ask to $22k below MSRP so even if you sold it at $488k, with their commission, you’ll be worse off.

 

ANY Ferrari with overly unique specs are hard sellers. When you mix colors, materials too far you will lose. No one wants other peoples decorating.

 

Spot on, which is why I don’t there will be any interest $50k below MSRP.

 

Probably correct which explains the spec and no sale.
Race seats might have moved it.

 

Yes probably right and don’t forget the $25k I have to pay the dealer for their services.

 

when all new Ferraris will be hybrid/electric then you will lose interest in new cars at all?

 

GTS's with marketable specs are over MSRP and will stay there....order a blue car, with blue interior...and brown seats and the market is tiny.

 

I asked the dealer that exact question this morning because I did the same math. The reply was “I have a few people on the car, let’s discuss next week”.

In other news the dealer is saying “they don’t do wires” so they want to send me a paper check for the 812 proceeds which would take several days and then of course it wouldn’t clear for a week or more. I told them I want the wire today. If I don’t get the money today I’m pulling the car and blowing it out on BaT. Watch this space. The BS is never-ending.

 

I have ordered that spec on probably the last 10 cars and they all sold well (including the 812C I just sold). I think it’s an issue with the price and model, less so with the specs. I don’t know what the magic is for a “marketable spec”. If you do red and tan, no one wants it either, order white and it’s “too Miami”. What do you think a marketable spec is out of interest?

 

no offense intended. Sorry if it was taken that way.
As far as what will work for resale...obviously any shade of red. That is always the way to go with Ferrari mid-engines. The V12s etc seem to do better with darker non-red hues.

 

Correct

 

It wasn’t taken that way at all, you made fair comments I was just wondering what a good resale spec is now days. Most of my Ferrari friends want “anything but red” so I genuinely don't know what a good resale spec is. It seems that most people prefer the racing seats, I had a car with those in once and found them as hard as rocks, but I agree they look better.

 

Are they still using an abacus to calculate their numbers as well?

 

Your spec is just fine. It's not the spec. It's that it's a 500k regular production car that is tanking in value so very few people want to touch it. Ferrari went from creating just amazing cars to building regular production cars that no one wants. Think about it - 296, sf90, Roma, - all massive drops in value. Their Icona cars are amaazing- so are their limited edition ones- but people like you who have money to burn aren't going to burn it forever on questionably desirable cars.

 

all the reds are best for resale. Maybe RC is an exception. This is true for the production cars not necessarily the VIP+ level cars...ChatGPT to the rescue:

When selecting a color for a new Ferrari with future resale value in mind, it's essential to consider both traditional preferences and emerging trends.

Traditional Preferences:

• Rosso Corsa (Red): Often referred to as "resale red," this iconic Ferrari color has historically been the most popular choice among buyers. Approximately 54% of all Ferraris sold are red, making it a safe bet for resale.
  
  The Classic Valuer
  
  
  
• Black and Blue: Following red, black and various shades of blue are also popular, each accounting for about 11% of Ferrari sales.
  
  The Classic Valuer
  
  

Emerging Trends:

Recent analyses suggest that less common colors can command higher resale values:

• Green: Ferraris in green have shown a median resale price significantly higher than their red counterparts, indicating a growing appreciation for unique color choices.
  
  The Classic Valuer
  
  
  
• Maroon and Gold/Bronze: These colors have also demonstrated higher median resale prices, reflecting a trend towards exclusivity and rarity.
  
  The Classic Valuer
  
  

Considerations:

• Market Demand: While traditional colors like red are widely accepted and may lead to quicker sales, unique colors can attract buyers seeking exclusivity, potentially enhancing resale value.
  
  
• Personal Preference vs. Investment: It's crucial to balance personal aesthetic preferences with investment considerations. Choosing a color you love will enhance your ownership experience, while also being mindful of how it may impact future resale.
  

In conclusion, while classic colors like Rosso Corsa remain popular and safe choices for resale, there's a growing market for Ferraris in unique hues that can command higher prices. Selecting a distinctive yet tasteful color could potentially enhance your Ferrari's resale value in the future.


On this topic, when I see Singer 911s with the very specific color choices it makes me wonder who buyer #2 will be. Singer will make a fortune in reimagining the already reimagined 911s as the new owners want to do their own specs.

 

I fully understand your point.

My I ask which other cars you have and keep?

 

Old manual 911s, manual v12s like 575, rally cars.
I don’t mind visceral DCT, I would buy back an F12, would experiment with a manual 360CS, always wanted an E30 M3. I miss my dry sump fiberglass 308, definitely looking to get another one. Bored of my Pagani Huayra, that’s for sale too and went off the brand when the terms for the Utopia were ridiculous. I refuse to be beholden to stuff that makes no sense. I’ll walk away thanks. I want to have stuff that is fun and not too valuable either. Also key to not have many cars because that becomes a hassle too. How many toys can you have? I think 3 or 4 is the sweet spot. Don’t buy another until you can sell one you already have.

I like some of the modern Ferraris too, I really enjoyed my Portofino, great little car and plenty fast and fun and usable and under $200k now. This isn’t a particularly well thought out answer but just trying to give you a sense. I miss my db5, I’d definitely buy another.

ps would definitely buy more racecars, I still race the 488 challenge and the MX5 global

 

Asking in a curious, non-accusatory way. How old are you?