Re: "Sports Car Market Report " Auction result (archive)

I thought that the following might be of some interest on this subject, providing another indication why the market value of the 8 Series does not stay as high as we'd like. This is from the March 2001 edition of Keith Martin's "Sports Car Market Report". (A great magazine, by the way, for anyone who is interested in unique automobiles.) Anyone who has read the magazine knows that the reporter first describes the offering, then comments candidly -- and at times pungently -- on the results. In reporting on a '91 850i offered at the January Silver Auction in Fountain Hills, AZ, reporter R. Mitchell Carlton had the following to say:
Description : "1991 BMW 850i 2-door coupe, S/N WBAEG2314MCB730. 12-cyl, 5L. Dark blue metallic/gray leather. Odo: 93,756 miles. Auto. AC Schnitzer chrome alloys. Sunroof. Minimal aftermarket ground effects to complement the wheels. Difficult to tell that it has this many miles on it based upon normal wear. Well-cared-for and well-prepped dealer offering. Cond: 3." That sounds pretty good, right? Certainly worth a close look, right? Well, here's what Mr. Carlton had to say about the result:
"NOT SOLD AT $22.000. Even the Bimmerphiles tend to shy away from this smorgasborg of electrical problems waiting to happen. Good looks are their only saving grace. This one is at the age and mileage where it can become a financial nightmare."

Now, like it or not, that's the reputation our cars have among the enthusiast community at large, even those parts (the "Bimmerphiles", Mr. Carlton's description) who should either know better or take the trouble to find out the facts. And that reputation has been constant over the years. Indeed, certain of the "Roundel" contributers -- Roemer comes most immediately to mind -- have taken every opportunity to take gratuituous swipes at the 8s. In light of all this, it's hard to have vehicles maintain a premium value. So, I offer the foregoing as another data point in the debate. Though we as owners may know better, that's where we are. And while I appreciate the point of Jason's original post here, I doubt the 8-series owner body as a whole is gouing to get very far in maintaining model value at high levels by pricing cars for sale at unrealistic levels, and then refusing to sell for less. The most likely result there will be a lot of unsold 8s. And while that result might lead to the owner body being able to claim a higher value, if that value can't be realized, that's a Phyrric result indeed, seems to me.

Anyway, that's my 2 cents worth.

Al Carr
'93 850 CiA

Part of the participation required in order for all owners to benefit from 8 series values over time, requires that we must comply with maintaining reasonably high values when a car is made available for sale in any region.
Owning a legend /future enigma requires that all prospective 8 series owners "pay the admission" price of owning such a car, and hence, the value of our cars retain appropriate levels over time.
This requires that underselling not occur to prospective buyers. This will necessarily create the market conditions that the car deserves and will in itself create added interest in the eyes of BMW themselves as to what the 8 series really represents.

I see too many prospective buyers hoping to land a deal of a lifetime with the odd owner bowing to the need to sell, buyers making too much out of the mileage issues as leverage when a well maintained car of this build quality is normally quite immune to reasonable mileage disparity between vehicles as far as quality of what you are buying is concerned.

Any thoughts to be shared here ?

J. Hari
'96 850CIA - Step

http://.

Follow Ups:

Re: "Sports Car Market Report " Auction result Joe 17:21 3/18/2001 (0)

[ Follow Ups ] [ 8-series (E31) Message Board ] [ Msg. Board FAQ ]

Questions, comments, or problems, please visit the Roadfly help desk.