California Ferrari Dealer Rejects $348,000 Offer for 2025 296 GTS
▼ Summary
– A California dealer refused to sell a 2025 Ferrari 296 GTS at auction despite receiving a $348,000 offer, as it failed to meet the seller’s reserve price.
– The Ferrari 296 model, while critically acclaimed for its performance, is struggling to retain its value and frequently fails to sell at auction.
– This specific 296 GTS is a nearly new, convertible variant with extensive factory options and an original MSRP of over $452,000.
– The car features a hybrid powertrain combining a twin-turbo V6 with an electric motor to produce 818 horsepower.
– Despite the high bid and the car’s performance credentials, the dealer’s decision reflects the model’s current challenges in the resale market.
A recent incident at a California dealership has captured the attention of the automotive world, where a seller declined a substantial offer for a brand-new 2025 Ferrari 296 GTS. The refusal to accept a bid of $348,000 highlights a fascinating and contradictory trend currently affecting this particular Ferrari model in the collector car market. While the vehicle boasts exceptional performance credentials and critical acclaim, its ability to hold value at auction has become surprisingly inconsistent.
The story centers on a nearly new 2025 Ferrari 296 GTS, finished in classic Rosso Corsa over a Nero leather interior. This convertible variant left the Maranello factory with an original manufacturer’s suggested retail price exceeding $452,000, a figure that was further elevated by nearly $80,000 in factory-optioned extras. These additions include a front suspension lift system, red-painted Brembo brake calipers paired with carbon-ceramic rotors, and extensive carbon fiber interior trim. With only about 700 miles recorded, the car is essentially in showroom condition.
Despite its pristine state and desirable specification, the vehicle failed to sell during a recent auction event. The highest bid placed reached that notable $348,000 figure, yet it was summarily rejected by the dealer representing the seller. This decision underscores a significant gap between current market offers and the seller’s personal valuation or reserve price. The incident is not an isolated one, as multiple Ferrari 296 models have recently struggled to find buyers at auction, failing to meet their reserves even with strong apparent interest.
This market behavior presents a curious paradox. On a technical level, the Ferrari 296 series is widely praised. Its powertrain combines a twin-turbocharged 3.0-liter V6 engine with an electric motor, delivering a formidable total system output of 818 horsepower to the rear wheels through an eight-speed dual-clutch transmission. Performance remains sharp even in the GTS convertible form, which carries only a minimal weight penalty compared to the hardtop coupe. Journalists and enthusiasts alike celebrate its driving dynamics and technological sophistication.
Yet, this engineering excellence has not translated into steadfast residual values in the secondary market. The trend suggests that, for some collectors, the model’s hybrid V6 configuration may not carry the same long-term investment allure as Ferrari’s iconic V8 and V12 engines. The seller’s choice to hold out for a higher price reflects a belief that the car’s worth is not accurately reflected by current auction activity, betting on its potential as a future classic rather than accepting today’s market price. This standoff between immediate market reality and owner expectation continues to define the intriguing narrative of the Ferrari 296.
(Source: Supercar Blondie)
