UK 296 GTB Values
Discussion
LondonCarGuy said:
UK pre-owned Ferrari Approved 296 GTBs median prices since I've started tracking them:
September: £209k
October: £209k
November: £205k
December: £205k
January: £199k
February: ???
be more useful to just track a specific year and mileage.September: £209k
October: £209k
November: £205k
December: £205k
January: £199k
February: ???
my car is back for sale at a dealer at what it cost me a year ago, but in the interim I doubled the mileage.
bennno said:
be more useful to just track a specific year and mileage.
my car is back for sale at a dealer at what it cost me a year ago, but in the interim I doubled the mileage.
I agree, that would be best. Unfortunately, the sample size is not big enough to be that specific. All the fleets of all models get older, add miles etc. Also it would be nice to keep the spec very specific too. Again, sample sizes limit this.my car is back for sale at a dealer at what it cost me a year ago, but in the interim I doubled the mileage.
col68 said:
Does anyone have any real world experience of trade bids on GTB s ? Are dealers, main or otherwise willing to write the cheque so to speak?
A few Ferrari Approved 296s are SOR, but most are dealership owned. I've now visited eight Ferrari dealers. So, they will definitely write you a check if you want to sell.col68 said:
Does anyone have any real world experience of trade bids on GTB s ? Are dealers, main or otherwise willing to write the cheque so to speak?
Some are, quite seasonal, dealer paid a fair price for mine to buy outright, another dealer offered 10k less and wanted it on SOR.Dealers will expect 10% margin, so it’s simple to do numbers.
So far in February the median asking price of a Ferrari Approved 296 GTB remains at £199k. The IQR is £198-209k. We now have three cars in the £180's. A number of salespeople told me in January and early February that demand and interest was picking up as we exit the winter. However, despite that rhetoric, prices are not increasing.
September: £209k
October: £209k
November: £205k
December: £205k
January: £199k
February: £199k
September: £209k
October: £209k
November: £205k
December: £205k
January: £199k
February: £199k
LondonCarGuy said:
So far in February the median asking price of a Ferrari Approved 296 GTB remains at £199k. The IQR is £198-209k. We now have three cars in the £180's. A number of salespeople told me in January and early February that demand and interest was picking up as we exit the winter. However, despite that rhetoric, prices are not increasing.
September: £209k
October: £209k
November: £205k
December: £205k
January: £199k
February: £199k
Weather hasn’t turned, need sun to come out.September: £209k
October: £209k
November: £205k
December: £205k
January: £199k
February: £199k
What’s the latest APR - Ferrari offered 4.9 last year and cars in dealers flew out
MingtheMerciless said:
Any info on GTS prices? Even though I don't really care as I have no intention of selling. I did buy with my eyes open though.
I think what would be an interesting stat is median price no v original price including options - since most cars had I think £40-50k+ in specced options.
Sorry, I stopped tracking GTS as my own focus has been more GTB.I think what would be an interesting stat is median price no v original price including options - since most cars had I think £40-50k+ in specced options.
A typical 296 GTB new in an "average" spec was £290-ish, so they have lost about £90k. The highest one I've seen was £434k for a GTB new. That car sold for high £220s with 3k miles on it. Nobody pays very much for "spec" in the secondary market.
bennno said:
Maranello just sold their 600 mile 24 plate car in Rosso Corsa with buckets and nose lift that was up for a bargain £199k . Good buy.
Not trying to be antagonistic but it’s not a bargain though is it?. They’ve simply sold it at the market value to move it on. The sold price was likely also couple of thousand less than advertised. Surely FFS will need to run another subsidised APR to shift the building stocks of 296 GTB’s and GTS’s. I guess this time next year we’ll also have a glut of 296’s coming to the end of their 24 month subsidised APR lease purchase deals from last year.Again, non of this takes away from how great these cars on (when working) but shows the wider markets mistrust for early hybrid tech, along side a shrinking market of wealthy UK enthusiasts to keep buying the latest thing. All of my friends are indeed looking at the recent back catalogue as the best mix of safety (money), hassle and enjoyment.
garystoybox said:
Not trying to be antagonistic but it s not a bargain though is it?. They ve simply sold it at the market value to move it on. The sold price was likely also couple of thousand less than advertised. Surely FFS will need to run another subsidised APR to shift the building stocks of 296 GTB s and GTS s. I guess this time next year we ll also have a glut of 296 s coming to the end of their 24 month subsidised APR lease purchase deals from last year.
Again, non of this takes away from how great these cars on (when working) but shows the wider markets mistrust for early hybrid tech, along side a shrinking market of wealthy UK enthusiasts to keep buying the latest thing. All of my friends are indeed looking at the recent back catalogue as the best mix of safety (money), hassle and enjoyment.
It was the relative bargain compared to all other 296’s for for sale.Again, non of this takes away from how great these cars on (when working) but shows the wider markets mistrust for early hybrid tech, along side a shrinking market of wealthy UK enthusiasts to keep buying the latest thing. All of my friends are indeed looking at the recent back catalogue as the best mix of safety (money), hassle and enjoyment.
I take a different mindset to you, I never thought I’d be able to afford a contemporary, nearly new Ferrari with 5 years remaining free servicing, almost double the power of an f40 and capable of 0-60 in 2.3 seconds.
It makes a much better noise than the latest v8 cars, as their turbos and flat plane cranks just sound flatulent.
People should not be concerned of hybrid technology, Toyota have demonstrated it can be more reliable than any other approach over 30 years, the concern is more a distrust of how Ferrari might charge if there are issues.
A big issue for SF90s and 296s will be when they are at the very end of their hybrid warranties and owners want to sell them back to Ferrari dealers. Of course, the dealers will make bids on the cars, but now the dealer will either have to attempt to sell a car with no hybrid warranty, or the dealer will have to pay (wholesale) for a new two year hybrid warranty in order to make the car more marketable. This will get interesting.
LondonCarGuy said:
A big issue for SF90s and 296s will be when they are at the very end of their hybrid warranties and owners want to sell them back to Ferrari dealers. Of course, the dealers will make bids on the cars, but now the dealer will either have to attempt to sell a car with no hybrid warranty, or the dealer will have to pay (wholesale) for a new two year hybrid warranty in order to make the car more marketable. This will get interesting.
Agreed, it s the 4 year manufacturer, 5 year hybrid , 7 year servicing which confuses. Even prior to the hybrid warranty expiry it s a potential issue, as Ferrari were initially suggesting dealers could only add hybrid warranty in 2 year chunks at 11k for 2 years - but now they can add pro rata proportions to give top up to their normal 2 year used retail warranty. An expired hybrid warranty would mean a £200k retail car is likely to have a trade value £165-170k.
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