Are We Too Optimistic About The Value Of Our Cars?

[Tommm]

I put my car up for sale a few months ago. Got a few tire kickers. Nothing serious. Are we too optimistic about the value of our cars? What should I list it for? I agreed to sell it when I bought the Cayman. I would like to keep my end of the bargain with my wife, and since it is for sale, I am not enjoying it this summer which ticks me off.

Constructive input is appreciated. Here are pictures, and links to the ads.

https://photos.shutterfly.com/story_invite/607ee4b8-36b5-43cd-896e-002bbe1cf16a/10215540746

https://denver.craigslist.org/cto/d/...644994025.html
https://www.autotrader.com/cars-for-...earchRadius=50

4 Left.jpg3 Right.jpg

Now this is a roadster https://www.mecum.com/lots/PA0818-33...eid=6bd90a1bdb

[workhurts]

I bought my 2000M recently for about 12 and traded it in for about 12 a couple of years later with mileage in the low 50s. The condition of your car is probably much better. I think it would be a good deal, private party at about 14. The right buyer would probably do 15/16.

I don't see it as being overpriced for private party to at least begin the conversation.

I see a bunch of roadsters post for high prices but they don't move.

[Wrench Turner]

I think you can realistically sell it for that price. The problem is you will have to wait for ages for the right buyer to come around.

On the other hand, I think every cult (using the word loosely here) car enthusiast is too optimistic about the value of their car. If you go to any fanatic website there is almost a weird circle jerk feel to the classified section where everyone is collectively pushing up the prices because they feel it gives their car and parts more value.

Someone who doesn't know much about z3 m's will absolutely not buy your car at the price. An enthusiast would though. So it depends how many enthusiasts are out there.

My 01 z3 coupe with 48k miles on it was listed at 13k when I first saw it. They quickly fixed that after the absurd amount of calls about the car

[ProductUser]

16k is a lot of money for an 18 year old car that will need ongoing maintenance. I didn't think 14k was too much when I bought my roadster some 9 years ago in similar condition. Someone will buy it, but it may take time to find the right buyer.

[CB750]

I think you would have a better chance of attracting more attention with better photos; your current ad photos are oddly cropped and really don't do the car justice. I can only assume you used your phone. I suggest a real digital camera or a cellphone camera with better imaging specs. You need to show off the lines of the entire car from several angles, particularly for potential buyers not familiar with M Roadsters.

[TheDrip]

I think it's a combination of pricing based on rarity/specialty value, and the low number of buyers.

How many people are realistically looking for an m-roadster over a z3? How many buyers understand the difference between a $16k M-roadster vs a $8k z3, and do they care?

Your price point is right to sell to an enthusiast, it's wrong to sell the car quickly.

[Migou]

I have seen non M Z3's selling for $12k. I don't think a pristine non M Z3 is worth that much.

Prices seem to be all over the board. Some people's idea of what they have varies

[zellamay]

Depends how you feel about time. It won't go down in value in a year, so holding is not a problem. Your price is high, but the car is pristine. Problem is there are Ms out there not pristine, but pretty good, for a lot less money. Gotta find the rare buyer who wants pristine. ... Or ... if you just don't want it around, and it's not worth $2k to watch over it all winter, sell it for $14 .

[bring]

I just bought a Z3 roadster, so I can pass along some of my thoughts.

I specifically targeted a ‘98 1.9 for a few reasons - it was the first year for the rollover hoops, last year of the 4 cylinder, and I knew I could find a good one for short $ because Americans want a 6 cylinder (this should actually help your cause).

eBay is a good source for sale/no-sale prices. Look up the specific model so you get to the page where they are listed for sale. Go to the bottom left and click on “completed auctions” or something like that. It will show the sold cars with a green price, and the no-sales with a black price.

Back to your question though. Unlike the Boxster and S2000, the Z3 was designed to be a Miata-like car. Perhaps that could be part of what is hurting your resale value? Just a guess.

Full disclosure - I’m almost 50 and have owned plenty of fast cars. Not what I’m looking for now.

[bubbafett]

More like 10K... For OP's ///M.

[themush1326]

I think you car is hard to value,it has too many miles to be a collector's item but it has too few and looks to nice to just take whatever someone offers.
I definitely bought into the over valuing these cars and paid more than I should have, but when I drive and look at the car I think its a bargain.
You may get someone like me who wants a local car and does not want to search for years to save 2K, try your price for a month or 2 and see what happens.

Another factor is what will it cost to "hold" the car for a few years, if you are paying 1K a year for insurance and 200/month for a parking spot then you should just dump it and move on a it will never appreciate at that rate

Good luck!

[Jamesons Viggen]

More like 10K... For OP's ///M.

I dont see clean titled cars like his with under 65k being worth $10k. A selling price in the $14k range is fair for both parties.

[neopolymath]

This all depends on where you live and your patience as others have mentioned. I think you absolutely need better photos. Get some that show the whole car as it sits as if you were approaching it from a parking lot perspective. Show the lines of the vehicle!

For reference, I sold a car with well over 180k and a rebuilt title for more than 8k and had people absolutely blowing up my phone to start a bidding war. You are in a weird spot with this car, and I think you need to wait for a buyer unless you just want to absolutely get rid of it and you aren't totally worried about the final sale price financially. A non-enthusiast is going to see 16k and think about the nice cars he can get for that or a little more. The past 5 years has really screwed up the car market for cars like this because the valuation appears to be in line if you are looking at this model in a vacuum, but most people aren't driven to only seek out one specific model. Consider accepting trades for vehicles that would be easier to sell as well.

[bring]

Using 1998 as an example - if all 3 cars are the same condition (mileage, mechanicals, body, interior, etc) and I can get a 1.9 for $6k, I would think the max to pay for a similar 2.8 is $8k, and for an M - $12k. Again, everything else being equal.

When you consider paying $6k more for an M, that doesn’t seem like much. But if you look at it as paying double, that makes it a bit harder to digest.

You probably want the potential buyer to price it against a comparable Boxster. That’s where you can win.

[BimmerBreaker]

If it hasn't sold, the price is too high or the ad isn't good. Fix the ad and then if it doesn't sell lower the price more... does seem a bit overpriced

[awdonald]

Presently a '99 with 65k ( as I recall) on Bring a Trailer with 3 days to go at $7777. Car looks nice.
You can see previous auctions by poking around the site.

[magnetchief]

It’s a similar mileage to my 98 M.
I would not expect to get more than $14k including the hardtop.

You have a nice car. But it’s pretty pricy.


Sent from my iPhone using Tapatalk

[pine1000]

I would suggest that you take landscape (hold the phone sideways) pictures for your ad, not portrait.

[s8ilver]

Avg Price: $17,041.65


...From the Buyer's Guide (S52 M Roadster with a hard top)

- - - Updated - - -

Presently a '99 with 65k ( as I recall) on Bring a Trailer with 3 days to go at $7777. Car looks nice.
You can see previous auctions by poking around the site.

And the repainted Estoril car just went RNM for $13.75k...hard to make any sense of it all.
https://bringatrailer.com/listing/20...m-roadster-21/

And this one sold over $15k and folks called it cheap:
https://bringatrailer.com/listing/20...m-roadster-22/

[Tommm]

I have a lot of achievements to be proud of. My photographic skill is not one of them. I will take landscape pictures in the sun.

As for the $11,000, Tell that to the Porsche dealer. They offered more than that on the trade without seeing the car, after I negotiated the purchase of the new to me car.

[jrkoupe]

most owners of a car do think they are worth more on the used market, its common.

look at e36M3's now for like 35k!........even 40...dont even ask about the LTW cars

your car is priced strong......it will take a special buyer...but it aint silly


lower for a quicker sale

[s8ilver]

Now this is overpriced:
https://www.ebay.com/itm/Z3-2-8-M-Sp...7a6e%7Ciid%3A1

But, it's got the "M Sports Package"... whatever that means.

[ProductUser]

With some creative Internet-based marketing campaigns targeted at high income regions of the US, you can create an artificial demand for your roadster

[wcampbelliv]

Short answer - yes, absolutely.

Long answer - we tend to value the time/money we have put into these cars as a billable add-on to sale price. Spending time on this forum also appears to make us think that the cars are more desirable than they probably are. Color is also probably the biggest factor in value - in my experience, people care more about exterior color one offs more than 1 of 1 builds that are a standard exterior color.

I bought an Alpine/Estoril 00 roadster, S52, 70K miles, with painted hardtop, for $11,500 about a year ago.

Now, all that said - I have a 160K Mile 02' Topaz/Tan 3.0 for sale at $12K - only a few dents and just the clear coat missing in a few places on the hood, but she's welllllll broken in. Anyone want her?

[jrkoupe]

Now this is overpriced:
https://www.ebay.com/itm/Z3-2-8-M-Sp...7a6e%7Ciid%3A1

But, it's got the "M Sports Package"... whatever that means.

yikes