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Some thoughts and advice (archive)

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Posted by Hopman on July 30, 2001 at 11:02:38:

In Reply to: Can anyone post tips on how they sold their M? posted by ///MZoom John on July 30, 2001 at 09:59:06:

I know several people looking for M Coupes, and I've talked to salesmen at several dealerships who say that guys come in and look at their M Coupes all the time. M Coupes definitely have a loyal following, but a small market. Remember, despite the great performance and looks, it's a 2-seater....not many people have $34k to buy a 2-seater. I think people are just waiting for the right price. I don't know if it's true or not, but I think buyers are waiting for the price to go do even further on the 240-hp Ms, since the new ones are just coming out. I may take some heat for this, but I'm waiting until 2002 to buy a '99 or '00 coupe. In the past 5 months, I have watched the "average" selling price drop from about $35-$37k to about $31-$33k. My local BMW dealers have dropped their prices at least $4k in that time ($39k to $35k). Once the M Coupes start selling in the $28-$30k range, I'm jumping in.

In addition, it's very difficult to even buy a Coupe. I've seen great deals at dealerships ($33k), I've seen an absolute steal from a San Francisco seller ($31.5k), but it's tough to pull the trigger when eBay coupes can be had for $29.5k. But again, buying on eBay is a major pain (shipping costs, not seeing the actual car, not knowing who you're buying from, shipping wait, etc).

As for your M3/4, it's all about price. I don't know what kind of condition it's in, but there are definitely buyers out there looking at the $26-$27k range (just look at the boards). I'm sure a '97 M3/4 with about 50k miles can be sold very easily for about $27k. Unfortunately, most '97 and '98 M3s are on the block for $30-$32k. They're not being sold, but the owners are being pretty stubborn.

But Chris is definitely right about eBay. There are tons of bogus bidders, so you'll never get your car sold. I've seen the same cars getting the bids, being "sold", then back on the auction the following week because the bidder backed out. Man, some cars have been on the block since January....I truly feel sorry for the sellers. And that's the thing....it's so easy for a high bidder to just back out.

I think you should definitely post on this website's classifieds, maybe notify the posters on the M forums each week with a nice, polite message (there seems to be plenty of "lurkers" and potential M3 buyers), try your local newspaper, go to TMS(turnermotorsports.com) and place in their classifieds section, and maybe even make a nice website of your cars. In addition, "attack" the M3 hotspots. The Bay Area (San Jose Mercury News...www0.mercurycenter.com, San Francisco Chronicle) have plenty of potential buyers. And we're used to seeing dealerships with their $35k M3/4 "specials"! Maybe pop a listing in the Bay Area newspapers. Autoweek and DuPont are a little pricey when it comes to their classifieds. And if you really, really need to sell your car, you could just pop on very attractive prices.


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