Pricing and 95/5 Principle (archive)
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Posted by GregK on May 09, 2000 at 13:18:22:
In Reply to: cca. 25,000-28,000 USD posted by Lez on May 08, 2000 at 20:59:35:
(posted from: user-33qtkcc.dialup.mindspring.com (199.174.209.140))
Generally, I'd agree with Lez, I'd offer about $25k to $28k. However, don't be surprised if the seller asks for more like $30k or even over. There seems to be a 95/5 principle at work in the market for used 850s. 95% lack books, records, any kind of a warrranty, haven't had regular maintenance, are over 80k+ mile, and are 2nd or 3rd owner cars. The result is that will shortly need an infusion in the order of $5k or more to replace major wear items (suspension, brakes, exhaust, DK's) and correct for skipped repairs (seat cables, OBC, sunroof cables, window seals, etc.) While these are normal wear items and can be repaired/replaced for less if you have available time and are handy, the cars "in need" seem to sell for $25k or less. This is likely due to price-driven purchasers not knowledgeable of what to look for picking them up very cheap and then spreading the word about their experiences of the car "disintegrate upon purchase" and requiring large sums of money. Unfortunately its really more of a function of their lack of understanding than the car's quality or robustness of the 8-Series. The 5% of 8's that have weathered "mid-life," particularly in the hands of one caring owner that kept all books and records usually go for a considerable premium, and go very, very quickly. Searching the archives shows that a few board members have sold their car's recently for in excess of $30k, even with fairly high mileage. Sounds like you found a good one, particularly with the warranty to cover the 67k mile to $100k mile wear items.Greg
1991 850/6
1988 M5
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