California dealer refuses to sell 2025 Ferrari 296 GTS despite being offered $348,000

A California dealer reportedly refused to sell a 2025 Ferrari 296 GTS.

This was despite being reportedly offered $348,000.

It is a story that has certainly generated a lot of surprise considering its current market value.

But it reportedly failed to meet the seller’s uniquely high reserve.

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Ferrari 296 continues to struggle at auction

The Ferrari 296 is quite a fascinating story within the supercar world.

It is, in many ways, a very strange contradiction.

On the one hand, it is near-universally acclaimed for its performance.

Critics have lauded the V6 powerplant, as well as the car’s overall output.

But on the other hand, it appears to really be struggling to retain its value.

In recent months, there has been an interesting trend developing.

And that is the fact that many Ferrari 296 units that hit the auction block aren’t selling.

And this particular Ferrari 296 GTS is the latest high-profile casualty.

This 2025 model is finished in a Rosso Corsa paint job.

It also comes with a Nero leather interior, alongside almost $80,000 worth of extras.

Last year, it was delivered from Maranello to Ferrari of Los Angeles.

This was back when its original MSRP price was a lofty $452,476.

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2025 296 GTS fails to sell – despite $348,000 offer

It was then moved on to another California dealer – who refused to sell it at auction.

According to reports, the highest bid hit the $348,000 mark.

But it still was not enough to prise the supercar out of the California dealer’s hands.

As you know, the GTS is the open-top, convertible variant of the 296.

Despite weighing almost 150lbs more than the hard-top version, performance is almost identical.

Factory options also include a front suspension lift system and red-painted Brembo calipers over carbon-ceramic rotors.

Carbon fiber trim can be found in abundance throughout the interior.

It is also practically brand-new, with the odometer reading just under 700 miles.

The powerplant is, of course, that beloved 3.0-liter, twin-turbocharged V6.

This, in turn, works directly alongside an MGU-K electric motor.

It all combines to provide a total power output of 818hp.

All of the power is then sent to the rear wheels via an eight-speed dual-clutch automatic transmission.

Almost makes you see things from the seller’s POV a little more…