296 Values and Used Market

Plus, they say 1000kms with the new cars, but you can also drive in full electric should you want to, therefore not using the engine. My dealer said that a longtime Ferrari mechanic told them to drive it like they stole it.

 

621 miles/1,000km is what the manual said, IIRC.

 

whoever put that car to auction is completely delusional to put a reserve that high lol

 

I’m still trying. Offered $400 on a $455k build that was listed for $44X and seller countered at $430- car still sitting. Then I offered $427 on a listing with MSRP $533 asking $480. He countered at $470. I thought $427 was good.

 

Time is in your favor, prices are only going down.

 

Quite understandable that the dealers are trying to keep the prices high because most likely they accepted the cars in trade in at MSRP or higher and now are under water with regards to market prices. They will huff and puff as long as they can and try to sell over what they have the cars in the books for so they dont loose money. The opportunities to buy at market prices is at auctions or if the car being offered is in consginment at a dealer. The the seller will feel the pressure and you may be able to buy at the right price. Patience, ("piano, piano" as they say in Italy) will pay off.

 

My guess is that most cars at dealerships are actually on consignment (most have stopped trading in at decent prices a long time ago); so the dealers prefer to support the perceived prices by not selling (they do not care, that's not their money). They also encourage sellers to wait instead of acknowledging the reality; things change when / if the actual seller needs the money.

 

I feel this is true. Also it looks nice to have a bunch of cars on the floor.

 

Every car I’ve inquired on has been on consignment.

 

Dealers aren't buying these cars unless they are getting a high discount and even then they are hesitant. Too many for sale and the bottom keeps falling.

 

The average price and price range can be a little deceptive for Ferraris. You also have to consider milage and MSRP.

 

As of tonight, the buy it now price has been reduced to $500k. Still can't see the bidding action. Maybe that is closed off until it sells?

 

y'all maybe want to consider the fact that this isn't the right car for you price wise....maybe hunt for lesser expensive cars. Lots of truly stellar options. The market for pre-owned 296s isnt in alignment with your expectations.

 

Seller is lost in the sauce

 

If you want to know where GTS prices are headed, look at GTB prices (spoiler: they just dipped under F8 Tributo prices in USA market). GTS are currently asking (asking is not selling, btw) higher than F8 spider. In 3-6 months they will dip under F8 spider prices. It’s not rocket science…

 

I usually only want convertible exotics, but the gts market is still too high compared to the gtb market. The gap is at least 100k still and more for a good spec. I can't justify that when msrp difference between the two is only 30-40k?
So I compromised and went for a lower priced gtb. Excited to have it soon and start enjoying driving the car now rather than keep waiting.
FYI, couple of lower priced cars I enquired were ex corsa piloti cars, they got beat up on the track for few thousand miles. Not quite my cup of tea personally. If you read the carfax you can kind of tell which ones.

 

I'm sure you're going to love it. I just bought a GTS and I can't believe how enjoyable it is. I got used to the haptics within a few days. IMO the driving experience is a big step-up from the 488 Spider I previously owned (though I loved that car too, and it was tough to let go). I'm not really concerned about depreciation, since I plan to drive this car regularly. If it was going to sit in my garage, then the depreciation would be an issue to me. Plus, it looks like all modern Ferraris (other than special editions) are going to depreciate significantly, since the new car prices have gone crazy.

 

Correction, dealers are not buying these cars at any price.

 

So glad I am not in the US , the market is so large that the price is set by the last fire sale price ! It is like owning Realestate in a large residential building in the US!

 

I take depreciation and live in the US

 

The Corsa Piloti cars are corsa red or corsa red with silver livery and usually over 4,000 miles. If you read the carfax they were not titled with low miles or have not been titled. I would assume it would be similar for other press cars that the first owner reported on the carfax was not with delivery miles.

 

As anyone who has done Corsa Piloti would tell you….those are not the used cars to buy. They are well taken care of during/after events, but those things are ridden HARD.

 

A 2023 Ferrari 296 GTS AF ZFF01SMA0P0291591 has been offered at Mecum auctions on 4/4/2025; 5/17/2025, and 7/12/2025 but not sold. The latest high bid was $400,000, which means the market is about 25% to 30% below MSRP. There are a couple other Assetto Fiorano mocels for sale, 2023 Ferrari 296 GTS AF
ZFF01SMA9P0290357 (ask $429,990.00) and 2023 Ferrari 296 GTS AF ZFF01SMA4P0290931 (ask $459,990.00) but don't show MSRP, so hard to tell. I could only fnd one that sold, the 2024 Ferrari 296 GTS ZFF01SMA4R0309870 at BaT on 4/29/25 Sell price $399,000.00, 21.9% below MSRP $510,579.00. The prudent move seems to be to continue to wait until the prices stabilize or buy another model whose prices are stable even if over MSRP.

 

I am going to keep pressing my offers and wait.

 

The Mecum high bid is all the money, the seller should have taken the money and ran.