Quote:
Originally Posted by CSBM5
This particular car was sold at an RM auction back in 2010 for $48,400, and it had 69 miles on it then. I'm pretty sure the owner (Griot) has kept it since then, so he put 368 miles on it...to answer your question. If the car had been driven say 10k miles, it would sell at EAG for about $80-90k. So in this case, I would think it very critical that it has only been driven this much. If it had never been driven and still had 69 miles on it, it would likely be bid stronger at the auction.
Numerous other ulta-low mileage BMWs that BigGar took care of were sold at that auction also.
As to your last question, I would guess most personal collectors are at least somewhat car nuts. However, in the past 5-6 years given the central bank forced asset inflation and free money floating around (negative yields in EU, etc), a number of hedge funds/alternative investment funds have been bidders on collector cars...anything that might give some return while using other people's money. That aspect has greatly inflated the collector car market, especially at the high end of European cars. |
You mentioned earlier that EAG had a low mileage E39 M5 sell for around $149k but IIRC it sold for $180k but I could be wrong. Either way, they mainly find a buyer for their high priced vehicles but for the life of me they will not change out rod bearings as part of their ‘10 year service’ for s62/s65/s85 motors. I feel for what they are commanding, they should be changed out.
Regarding your last point, I agree. Just in talks of BMW automobiles, M cars are picking up value and I keep kicking myself in the ass as I could have purchased a e30 M3 for $7k back in 2005. Do you ever think the e36 M3 will start picking up steam? I see myself getting a e36 M3, 2005 330 ZHP sedan currently owned by a close friend or handing over my current daily beater Civic to my son for his first car in about 5 years from now. If the e36 M will somewhat go up in value, I’ll cringe if he were to drive it.