Pre-Owned Market Softness

I track the UK Ferrari Approved markets for 812 SF, 296 GTS, 296 GTB and SF90 Stradale. Those are the cars I'm interested in. I thought I'd share some recent trends:

812 SF: 9 of 14 cars for sales have seen price cuts in the last five weeks. Median price cut -£10k. End of summer price rises have now completely reversed.

296 GTS: a few price cuts. Median asking prices are -3% in the last five weeks.

296 GTB: more recently picked up tracking, so too soon to comment. A few price cuts of -£5-10k in the last three weeks.

SF90 Strad: this market is very slow. Cars have been listed for several months, some now with multiple price cuts. One Ferrari dealer is playing games taking the car off the web and then re-listing it to restart its time stamp. Early September half of the ten listed cars saw median price cuts -£10k. Last five weeks, a couple of more price cuts. Median asking price -3% in the last five weeks.

As we head into the final quarter of the year and new models like the SF90 XX and 296 Speciale arrive, it could set up for a nice buying opportunity for those interested.

 

Four weeks later and UK prices....

296 GTB average prices have fallen -2% and nearly a third of all Ferrari Approved cars have had price cuts of £4-10k in the last four week. This market continues to go down and appears to be soft.

Too late now, I'll update the others in the morning.

 

Update for all cars in the UK:

296 GTB average prices have fallen -2% and nearly a third of all Ferrari Approved cars have had price cuts of £4-10k in the last four weeks. Some cars have had their prices cut multiple times in the last 30 days. This market continues to go down and appears to be soft.

296 GTS average prices have fallen -1-2% and a quarter of all Ferrari Approved cars have had price cuts of £6-20k in the last four weeks. Some cars have now had their prices cut twice in 30 days. There are now two cars below £240k and a total of six cars below £250k. Similar to the GTB market, the GTS market is soft.

SF90 Strad: This is a thinner market than the others, only eight Ferrari Approved cars for sale. That said, there were no price cuts and a few very low mileage cars have now come up. This has meant prices are up +1% this month. Most surprisingly is one car that has been on the market for several months, the dealer has increased the price by £5k (good luck with that one). I think the trend here still remains soft and is masked by a few very low miles cars.

812 SF average prices are down -2%. Nearly half the stock has seen price cuts of £5-10k, including cars with multiple cuts in the last 30 days. The fleet has aged with more than half of the stock with more than 10,000 miles. The softness is clearly not just a hybrid thing, even naturally aspirated V12's are declining.

 

Whilst there is no doubt that the UK market is soft a 2% fall appears to be the normal winter is coming deprecation which I have seen over the last 20 years.

If you are looking for the seasonal lowest priced UK cars late winter s your time to buy.

Best of luck.

 

Absolutely, looking for a Christmas purchase.

 

end of quarter; or end of fiscal year!

 

So will prices then increase in the prime spring selling season?

 

Yes but, with the current volume of cars for sale, perhaps not as much as normal. That having been said the more desirable specs will recover faster so look to identify your car/spec and find how many there are asap as dealers will be buying those ready for spring.

With Ferrari reducing supply to the UK this might firm prices as people decide to buy nearly new if they cannot get an allocation and/or take advantage of lower pricing. Another reason why dealers might be snapping up the best used cars early.

The problems were a mix of oversupply (particularly the 296), lower number of UK buyers, hiking retail prices (both the 296 and Purosunge) and the negativity around; the EU's rules, Ferrari's move to v6, hybrids and electrification which had a reputational hit across the brand, bar limited/special cars.

The release price of the 849 is interesting, Ferrari seem to have realised the market is not prepared to pay much more than the SF90 it replaces.

Having said all that. Find the car(s) you want, drive and enjoy them. If your looking to build a collection work with a finance company who specialises in such who will be able to advise (and rates will reflect) projected pricing.

 

For fun, I'll keep tracking them thru the summer of 2026. As for Ferrari claiming they started cutting supply six months ago, I guess so, I mean, again I don't know anyone struggling to buy new standard production cars in the UK, but as was said before maybe demand is down too. I store my cars in a facility of 270 luxury cars, there seems absolutely no real-world discussion of customers struggling to source their new Ferraris. In fact, there's a number of new Ferrari customers buying new cars having never ever owned a Ferrari before.

I completely agree w/ you on the oversupply you mention of certain models.

I'm very curious to see how the values of the SF90 XX and 296 Speciale perform. Will they sustainably perform strongly like other special edition cars (Scud, Pista, Speciale) or will the bid for hybrid be weaker overtime. We'll see. The LaF was hybrid, but that's a halo car, so not sure we can really look to that as a guide.

It will be fun to watch, I have no crystal ball, let's see what happens.

As for me, thankfully I could care less about spec's. So long as I have suspension lift and enough items that will help the car resell, I could car less. I agree with you, I drive the piss out of my cars, enjoy 'em, sell them and get the next one. Enjoy!