88 M6 at Amelia Island Auction

[M6ermike]

Did anyone notice the listing for almost 2 dozen BMWs (including a 507!) at the Amelia Island Concours/Auctions this weekend? Gooding & Co. has the BMWs and this is the listing for an M6. Not much info: it is black and the interior looks like gray or black. Only one pic, so it's hard to tell. Est auction price is $20-30K -- hope they get it!

1988 BMW M6 (http://www.goodingco.com/vehicle/1988-bmw-m6/)
Lot 21
Presale estimate: $20,000 - $30,000
Hagerty Price Guide: $10,000 - $33,700 (http://www.hagerty.com/valuationtools/HVT/VehicleSearch/Report?vc=861383)
One of the coolest sights on the Island this weekend will be having nearly two dozen BMWs from the same collection for sale at the same venue. While there are undoubtedly more important cars from this collection present, this M6 is particularly interesting in that it will be another piece of the case that will illustrate (or not) how collectors are starting to change the way they view cars from the 1980s — a topic that is on many owners’ minds.

Check it out at http://www.hagerty.com/articles-videos/Articles/2014/03/04/Amelia-2014?utm_source=ExactTarget&utm_medium=email&utm_term=&utm_content=&utm_campaign=Hagerty%20Weekly%20News%2003-05-2014

[e24mpwr]

Wish I could go...

[MylesPH1]

So my buddy is at Amelia Island.. The M6 went for... Gasp.. $52,000.
He's busy so I'll try to get details later, but his texts to me were the following...

"It sold for $52000"

"Was nice but not perfect"

"It was estimated at $20-30. That was sheer insanity. Black car, original paint. Not perfect. Stone chips, scraped spoiler. 66,000 miles. Should gave been $25-28."

I'll find out more details as I can, but.. Wow.

[carlb99]

Wow! That's nuts!!!

[Budget M3]

That may be high, especially for a US spec car, but could be a sign of things to come. Remember when the first Isetta pulled $30k at auction only a few years ago? They have continued to command $30k+ ever since for nice restorations.

[maxg765]

That may be high, especially for a US spec car, but could be a sign of things to come. Remember when the first Isetta pulled $30k at auction only a few years ago? They have continued to command $30k+ ever since for nice restorations.


I don't know why everyone here has something against a US spec M6's. I for one prefer them. Especially the 88 or 89's since they have the world bumpers and did not need to pass through the horrid US butcher style federalizations to the mechanicals and cutting of front fenders/rear quarters to instal side lights etc… Plus I like the updated dual timing chains. But I guess in this case thats really just me. I could do without the rear AC and all that extra leather of the US cars but some prefer the rear AC.
Thats why I prefer the Canadian spec examples. Euro interiors with USA drivetrains. The best of both worlds :) but I am biased.

All that aside, naturally I am very pleased to see what the M6 brought at auction. Maybe its the 80's turn, the M series turn, and the E24's turn.

Max

[Badgas]

I don't know why everyone here has something against a US spec M6's. I for one prefer them. Especially the 88 or 89's since they have the world bumpers and did not need to pass through the horrid US butcher style federalizations to the mechanicals and cutting of front fenders/rear quarters to instal side lights etc… Plus I like the updated dual timing chains. But I guess in this case thats really just me. I could do without the rear AC and all that extra leather of the US cars but some prefer the rear AC. Thats why I prefer the Canadian spec examples. Euro interiors with USA drivetrains. The best of both worlds :) but I am biased. All that aside, naturally I am very pleased to see what the M6 brought at auction. Maybe its the 80's turn, the M series turn, and the E24's turn. Max We should all be pleased with this result!

[rlkrlk]

Hmm. Guess I'll add another lock to the garage door! :)

Cheers,

Ray

[Budget M3]

I don't know why everyone here has something against a US spec M6's. I for one prefer them. Especially the 88 or 89's since they have the world bumpers and did not need to pass through the horrid US butcher style federalizations to the mechanicals and cutting of front fenders/rear quarters to instal side lights etc… Plus I like the updated dual timing chains. But I guess in this case thats really just me. I could do without the rear AC and all that extra leather of the US cars but some prefer the rear AC.
Thats why I prefer the Canadian spec examples. Euro interiors with USA drivetrains. The best of both worlds :) but I am biased.

All that aside, naturally I am very pleased to see what the M6 brought at auction. Maybe its the 80's turn, the M series turn, and the E24's turn.

Max

No disrespect intended to the US-spec cars. Their reliability is, as you point out, much better. For the collector, however, the appeal is horsepower and there is nothing else like the sound and smell of raw fuel exiting the bundle of snakes header and unrestricted exhaust of an M88 motor at 6000 rpm :devillook

[tschultz]

This car is a Colorado car, and the entire collection was based here in my back yard. The family that owned this collection got screwed by the state of affairs, and got the shaft by these cars being taken from under there noses in a dramatic round of events.

If is a very sad situation and I am very angry (as is the family) for their predicament. These priceless cars were taken from them for nothing, and now sold at Auction.

I helped the owner clean and wax many of these cars when I was living in CO Springs.

http://i.imgur.com/VHT5tpz.jpg

http://i.imgur.com/2znzmCc.jpg

http://i.imgur.com/cJ1WgTX.jpg

http://i.imgur.com/yHFF9os.jpg

http://i.imgur.com/NqTh3BF.jpg

http://i.imgur.com/2V50XaC.jpg

http://i.imgur.com/YVPwaSQ.jpg

http://i.imgur.com/IdUrnaD.jpg

http://i.imgur.com/xZy6Xs9.jpg

http://i.imgur.com/MetT6Cn.jpg

http://i.imgur.com/Suo5rjM.jpg

http://www.goodingco.com/?s=f0e26dd957&formid=3352&taxo%5B0%5D%5Bname%5D=category&taxo%5B1%5D%5Bname%5D=category&taxo%5B2%5D%5Bname%5D=class&cmf%5B0%5D%5Bmetakey%5D=wpcf-origin&cmf%5B0%5D%5Bcompare%5D=1&cmf%5B0%5D%5Bvalue%5D=wqsfcmfall&cmf%5B1%5D%5Bmetakey%5D=wpcf-year&cmf%5B1%5D%5Bcompare%5D=4&cmf%5B1%5D%5Bvalue%5D=wqsfcmfall&cmf%5B2%5D%5Bmetakey%5D=wpcf-year&cmf%5B2%5D%5Bcompare%5D=6&cmf%5B2%5D%5Bvalue%5D=wqsfcmfall&cmf%5B3%5D%5Bmetakey%5D=wpcf-make&cmf%5B3%5D%5Bcompare%5D=1&cmf%5B3%5D%5Bvalue%5D=+BMW+&cmf%5B4%5D%5Bmetakey%5D=wpcf-model&cmf%5B4%5D%5Bcompare%5D=1&cmf%5B4%5D%5Bvalue%5D=wqsfcmfall&cmf%5B5%5D%5Bmetakey%5D=wpcf-low-auction-estimate-amount&cmf%5B5%5D%5Bcompare%5D=4&cmf%5B5%5D%5Bvalue%5D=wqsfcmfall&cmf%5B6%5D%5Bmetakey%5D=wpcf-high-auction-estimate-amount&cmf%5B6%5D%5Bcompare%5D=6&cmf%5B6%5D%5Bvalue%5D=wqsfcmfall&cmf%5B7%5D%5Bmetakey%5D=wpcf-status&cmf%5B7%5D%5Bcompare%5D=2&cmf%5B7%5D%5Bvalue%5D=wqsfcmfall&wqsfsubmit=Search



Also to note regarding this M6: About 52k miles, 1988, however the car was involved in a fire back in 2009 and had interior smoke damage. The front seats have been reupholstered, and the rear speaker pods show evidence of warping due to the smoke damage. Very interesting how high of a price they commanded....

[NOLA6]

If is a very sad situation and I am very angry (as is the family) for their predicament. These priceless cars were taken from them for nothing, and now sold at Auction.


This bums me out way more than the feverish selling price for the imperfect M6 had me excited.

[M6ermike]

What a sad ending to a beautiful collection. Tom, thanks for sharing the photos.

[trv541974]

What an amazing collection! Truly a sad loss for the owners

[Budget M3]

Indeed a catastrophe for the family and a very sad ending to a wonderful collection. I'll never forget the owner's generosity toward the entire BMW community. He gave rides in the M1 and 507 to anyone who wanted to go at the 1995 BMW CCA Oktoberfest...truly a great friend of the marque.

BTW, according to the Gooding & Co transcript, the final corrected sell price for the M6 was $57,200 :eyecrazy

[M6ermike]

That's $52,000 sale price + 10% seller's commission = $57,200. If anyone is interested, I'll discount my M6 to $50,000 with NO commission! What a deal!

[M6SCOTT]

My 88 M6 is in better condition than that black one and just turned 60 K miles. Better leather and paint. Not a mark on it ............ If that one brought 50 K plus $$$$ I will sell mine for 56 K plus next year and go buy a 850 CSI !!!!!!!! Oh and I just replaced the fuel tank with OEM and every item of the fuel delivery system with OEM and my mechanic George Welch laughed and said " I have never seen an 88 M6 where every piece of the fuel delivery system was still original from day 1 " !!! I am replacing every fuel line - pumps - relays - sensors etc............ Where can I find a person asleep like the one who bought the black one at Amelia Island !!!

[maxg765]

My 88 M6 is in better condition than that black one and just turned 60 K miles. Better leather and paint. Not a mark on it ............ If that one brought 50 K plus $$$$ I will sell mine for 56 K plus next year and go buy a 850 CSI !!!!!!!! Oh and I just replaced the fuel tank with OEM and every item of the fuel delivery system with OEM and my mechanic George Welch laughed and said " I have never seen an 88 M6 where every piece of the fuel delivery system was still original from day 1 " !!! I am replacing every fuel line - pumps - relays - sensors etc............ Where can I find a person asleep like the one who bought the black one at Amelia Island !!!


Hi Scott, you can make that two 88 M6's that are completely original, let your mechanic know :). I'm still sporting the 415 TRX tires and original wheels although it wears a new set of the treaded Michelin TRX rubbers. Got +- 55000 original miles. I'd be interested to know where you got your new fuel tank and how much it was? I recently replaced the main computer relay as a preventative measure, it still had the original stamped 1986 with only german scripture. I kept it for the next owner if I ever decided to sell one day.

It is very sad to hear about this collection getting disbanded and how it was taken away from its' owner. I am sure that the M6 having original paint plus its known pedigree ownership, and Amelia Island setting/mood had something to do with the premium it commanded.

Max

[gaspump]

Let me understand this. The "state of affairs", whatever that is, came in and "stole, took" this car collection from this family? I was not aware we were in Russia. How would this happen? There are always 2 sides to every story, and the other side would be nice to hear.

[carlb99]

No need to be in Russia. Sounds like either taxes (IRS has extraordinary powers to seize assets) or bankruptcy - especially if the collection was tied to a business vs personal assets...

[tschultz]

Obviously I do not know all of the details, but there was a death in the family back in 2012 (the gentleman who started the collection) and as I understand the cars were all part of the estate. Not sure how it all shook out or how it happened, so I am puzzled myself.
All I know, as Mark hinted above, is that the family was truly interested in the preservation of the cars and was very involved in the BMW community. It makes me angry to think how they were taken because of a filthy mediator of the legal affairs, and sold to an outside party at 10% of value.

[rmorin1249]

I think the sale of this car bodes well for those of us that have nice E24s. I know I won't be keeping mine forever and it is nice to think that I might actually get my money back when I do sell it.

[RSheiman]

Article in last months Car and Driver by Hagerty. Confusing as I could not come away with any Take-home message. Basically it said car collecting will decline as the Baby Boomers are the main collectors and are now selling over buying. They placed little faith in the x-gen as giving a crap about older cars. Then they say that this is more for the US cars and European may be in better shape..........whatever that means. I am pleased however, to see so many younger people on here appreciating the E24..................

[Roku35]

We should all be pleased with this result!

Nice to hear about the sudden auction movement for our vehicles, but I am hoping this is just a isolated incident. For selfish reasons of course :D. I haven't got my dream M635csi in my garage yet :D Although a couple has caught my eye, it has been very difficult capturing one of these ellusive girls, even at a decent $20K++ price. One of the very reasons I was so excited about getting into a E24 was largely due to the VERY low entry point for getting one or two or three.....hehe.

We'll have to see how other auctions pan out. If the hype for this auction carries on, those who are looking to sell their beloved Ms may want to hold on to their Ultimate driving machines and see where this will go. For those of us who still don't have that special M635csi or M6, WE better start looking harder and buying faster. Hahaha. With my addiction to the M635csi, I certainly will!

[rmorin1249]

My car will likely be for sale in the not too distant future. Stay tuned. It is not for sale now but if I relocate and end up with less garage space than I have cars, I have to reduce the size of my fleet. I will definitely let everyone know when it is for sale before I list it worldwide.

[Alex E24 E30]

That's a hefty tag for an M6, but perhaps a sign of good things to come?

Did you see the record setting 507 that rolled off the block at a cool $2.42 million?


Alex

[tschultz]

The white one at 1.8 was from the collection I was referencing above^^

Seen in the last photo with the hood up.

Crazy stuff!

[pete9903]

Very exciting to see 80's-era cars start to appreciate. The M1 just beat the high end of it's presale estimate.

Anyone want to venture how much non-M 6's will lag behind M6 prices? I'm guessing in another 5-10 years a clean 635CSi will pull 30-40% of an M6 price.

[E24Mark]

Mine will be officially going up for sale as soon as the weather breaks and I can get proper pictures to post on a dedicated website. Until I do there are a few pic here from an event last summer. My ///M is featured on slides 1-30, 41, 42 and 172-174. No interior shots, but just as clean as the exterior. http://getyourphotos.smugmug.com/AutomotiveEventPhotography/07-06-2013-Supercar-Saturday/30676127_zNVCQn#!i=2650038952&k=3tF4KHK
75K documented miles, no rust. I'm thinking $25ish or somewhere in that zip. PM if interested Mark 847-922-1687

[gaspump]

In one of my old Autoweek magazines, dated 1974, a classified ad: BMW 507, low miles, restored, $3500.00. Now that was big money back then for a old car. Those were the good old days.