02 MC sells for 92K

[PbFut]

Auction closed today on a Red 02 Z3MC for 92K on BAT and no one says a word?

[DimrBimmer]

Link?

[Curt C]

https://bringatrailer.com/listing/2002-bmw-m-coupe-11/

[Mr Bingley]

That's silly, no one would pay $92K for an MC no matter what the condition or miles--it's a fraud.

[civic4982]

Nice price for a really mint low mileage and beautifully kept one. Congrats to seller and buyer both.


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[JeffyD]

Cheese-it H. Christmas trees.

I have a working theory I came up with a few years ago, and this really seems to be more evidence of its validity - people are friggin stupid.

Bring-a-trailer just seems like an echo chamber for developmentally-challenged cringelords to show off with vulgar displays of wealth in the most assbackwards manner possible - paying tens of thousands of dollars OVER already too much prices for a car, thus making it too expensive to actually put a mile on, and making it useless for doing the one thing it’s meant to do... (which is drive around in, not use as a silly investment to hide one’s wealth from the irs and lawyers)... and for what? Digital carguy points from people who suffer from the same brand of neurosis that’s inflicting the guy doing the shopping. Ugh.

I mean... Had I “eff moo” money to throw at toys and Only had months to live, I guess... nah. I’d buy one of those ludicrously overpriced 60 thousand mint examples thatve been sitting on the market for god knows how long now, and just putter around everywhere in it. And tip extraordinarily well thereafter.

Whatever.

[ZGator]

Cheese-it H. Christmas trees.

I have a working theory I came up with a few years ago, and this really seems to be more evidence of its validity - people are friggin stupid.

Bring-a-trailer just seems like an echo chamber for developmentally-challenged cringelords to show off with vulgar displays of wealth in the most assbackwards manner possible - paying tens of thousands of dollars OVER already too much prices for a car, thus making it too expensive to actually put a mile on, and making it useless for doing the one thing it’s meant to do... (which is drive around in, not use as a silly investment to hide one’s wealth from the irs and lawyers)... and for what? Digital carguy points from people who suffer from the same brand of neurosis that’s inflicting the guy doing the shopping. Ugh.

I mean... Had I “eff moo” money to throw at toys and Only had months to live, I guess... nah. I’d buy one of those ludicrously overpriced 60 thousand mint examples thatve been sitting on the market for god knows how long now, and just putter around everywhere in it. And tip extraordinarily well thereafter.

Whatever.

Well said, felt the same way about it - but since I don't have an S54 Coupe I was afraid to say so. Although even as an investment if bought new at 45k that is what 70k or so in today's money? - after insurance, storage and upkeep - even that is not much if any return - guess it makes a nice museum piece to look at it.

[workhurts]

Actually $96.6k if you include the 5% buyers premium. Do you guys think just this buyer is 'stupid' or all buyers buying all classic cars that have appreciated? What do you think a 4k mile 993 C2S would go for? ... or a 4k mile Z8? I really don't get the hate. It's annoying, yes ... like it's annoying I'll probably never get buy a 993 and I kick myself for not buying a GT3 when I was looking at them but what can you do. How many S54 M coupes in the US with under 10k miles do you think exist ... 10 .. maybe 15? It's not really such an inflated price. Maybe EA bought and will be listing it for $110k after they wax and sprinkle gold dust on it

[JeffyD]

Yeah, I do believe it is stupid. Just like one would be dumb to buy a 993 C2S today for more than 75 grand and hope for any measurable return on their “investment.” It’s called a bubble for a reason - they eventually pop. With our economy being what it is today, artificially inflated by overvalued estimates to help bolster stock market numbers while a huge number of the population has little to no consirable “buying power” due to the stagnation of incomes not keeping pace with inflation of prices, in addition to the rapidly decreasing number of jobs that grant access to those incomes, Id call it foolish to “buy high” at the moment. The US is only kept afloat by the continued existence of the USD being the agreed trading currency for petrol in Saudi Arabia. All it would take for us to have a gross wake up call of how utterly wrecked our infrastructure has become, and how weak our economy really is now is for that one fact to change. What with the seemingly imminent proxy war with Russia, China and US brewing in Venezuela between different government factions, our war drums pointing us to Iran as a “security threat” and so on and so forth... whatever. Our economy isn’t at a place where I’d be confident this “makes sense.”

60k dollars is a ridiculous amount for a coupe, but if you want a mint example for whatever reason... okay. Fine. It’s not going to shoot up in value, sure, but it shouldn’t lose anything if you keep it well stored and don’t put miles on it.

But 96k is, what, 36k dollars on top of the ludicrous amount for a mint car. Where do you expect the value to go from there? Unless this is a bid by EAG to artificially inflate the perceived market value of these cars in order to unload their inventory (which I wouldn’t doubt since they are sitting on one of their “priceless cars” for the better part of two years now, and have had fewer and fewer m coupes that take longer and longer to sell, Ie theyre either not restocking inventory, as their target market is dwindling, or they’re hoarding coupes to screw with the market into the future) or just some wacky lotto winner who doesn’t care about money anymore. I doubt any working man would drop that on any car at all, or have the reasonable means to on an M coupe, at least, and an investor wouldn’t expect a return on something they spent 35 thousand dollars over market value on.

AND one would be dumb to expect such a return since it would literally need to appeal to such a small niche group of people (remember, this car is polarizing to this day ) as to make such a sale long and tedious. If one wanted a return on investment, smarter money would’ve bought the S52s to sell at a smaller but more reasonable premium much easier, and even smarter money would’ve just handed 100k to a friendly investor. Had you just given one of those guys 45 grand in 02 instead of this... the same logic applies to buying any car today. Theyre silly.

EAG or aliens or both.

[RAKraus]

Very well written reply above. Very valid points brought up. I agree on most points, however, there is one thing I don’t agree on. The fact of the matter is that these cars are worth what WE as owners value them at. I’ve gone back and forth about selling and, for now, it will never leave my garage. The market is very small for these cars. If and when the time comes for you to sell, there might be a buyer who is willing to pay what YOU believe the is worth. If you put a high price tag on a vehicle and it doesn’t sell for a while (like most at EAG) then obviously it isn’t worth the price to the people looking at buying one. The caveat is, if and when the right person comes along and falls in love with what you are offering and buys, then it was worth it for them. Maybe it was “some lottery winner” maybe it was a fluke, the fact is that it sold, and it was worth it to them. Does this sale change the market moving forward, I don’t believe so, but I’m very excited about what the future holds. I feel that the true value of these lies in the production numbers and the vision of the design 20+ years ago and how it’s still relevant today. As it was mentioned beforehand, Congratulations to both the buyer and the seller.

[Tigershark48]

I’ve seen classic Dodge Chargers sell for over $150k and asking prices as much as $250k. We’re entering into classic car status on our Z3s. The idea of someone willing to spend that amount on an M Coupe is crazy, but totally believable. The super clean, low mileage classic cars will only go up in value.

[raubritter]

Maybe it's somebody who always wanted a new S54 M Coupe but couldn't or didn't get one at the time, is now unconcerned about money, and this was a rare chance to get a 'new' one and drive it from new. That would at least make sense. It's his/her money, so do what makes you happy, you can't take it with you, and all that. But DRIVE the thing. As an investment it's a stupid idea for all the reasons mentioned (and also the fact of the disintegrating plastics in our cars... not sure how that would effect the 'collector' status as time goes on).

I agree with JeffyD's bleak outlook above, but at the same time there is a lot of stupid money sloshing around in certain places here. For instance, here in Texas with all the stupid oil stuff of the past decade, there are a really amazing number of $100k+ pickup trucks driving around. Pickup trucks!! #@$@# pickup trucks!!! And don't get me started on the actual monster trucks-- that is an actual thing here and God knows how much those cost to build.

But as our infrastructure and society in general decays (yet we are chomping at the bit to blow trillions on another crazy war or 3), maybe these would be slightly more useful in a Mad Max hellscape than an M coupe, S54 or otherwise. Assuming you could get fuel for them.

At the end of the day, if I owned an S54 coupe it wouldn't have only 5k miles on it anyway, but I wouldn't hold my breath thinking my car would someday be worth $100k. But I guess this hope is going to keep the mileage low on a lot of S54 coupes for future owners

[Tigershark48]

My 2000 M has 20k miles on it. It’s had one owner only before me who claimed he drove it in perfect weather and kept it covered in his garage the rest of the time. The near perfect condition reinforces that. When I bought it, I was worried about rotting plastic, rubber hoses, bushings, etc, but there’s zero evidence of that anywhere. If it’s covered and stored in a climate controlled environment, it should remain in pristine condition. I didn’t buy mine as an investment, but I’m confident the longer I keep it, the more it will be worth. And, if I have it for another 20 years, the mileage will probably double since I plan to enjoy it exactly the way the original owner did.

[pine1000]

I'm thankful for rich guys who choose to spend their money on rare/cool cars and preserve them. If Miuras were $20k instead of $500k, they would all be LS swapped and riding on Ebay coil-overs by now and that would suck.

I think the biggest problem with buying any collector car is the impending electric car (and possibly autonomous car) revolution. In ten years Tesla Model S performance will be common place with most new cars. If the soccer mom in the SUV next to you can accelerate to 60 in 3 seconds, having a high performance classic car will lose some of its appeal.

If autonomy happens, how many people will actually choose to drive? Whatever that number is it will decrease with future generations as driving becomes less of a thing.

[DimrBimmer]

I'm thankful for rich guys who choose to spend their money on rare/cool cars and preserve them. If Miuras were $20k instead of $500k, they would all be LS swapped and riding on Ebay coil-overs by now and that would suck.

I think the biggest problem with buying any collector car is the impending electric car (and possibly autonomous car) revolution. In ten years Tesla Model S performance will be common place with most new cars. If the soccer mom in the SUV next to you can accelerate to 60 in 3 seconds, having a high performance classic car will lose some of its appeal.

If autonomy happens, how many people will actually choose to drive? Whatever that number is it will decrease with future generations as driving becomes less of a thing.

I believe that in one of those StarTrek movies, not the show, that mustang held up its value just fine. I think the wheels will fall of all of our cars before it will get to the point where driving a car will become absolute. I am sure that my grand children, who are no where near their arrival (my kid is 5), will still be interested in gas guzzling classic car. As long as it in pristine condition. Even getting parts for it will probably not going to be an issue, as everything will be 3D printed.

[s8ilver]

Bubble? Yes. Look at our stupid stock market. Some guy just made $100k and had to have the car he lusted after as a kid. Great for sellers.

I dabble in in the luxury watch market. It's been insane over there. Pieces are trading for double MSRP in a lot of cases. Some of the big names have cut supply, and guys have the cash to burn.

[DimrBimmer]

Bubble? Yes. Look at our stupid stock market. Some guy just made $100k and had to have the car he lusted after as a kid. Great for sellers.

I dabble in in the luxury watch market. It's been insane over there. Pieces are trading for double MSRP in a lot of cases. Some of the big names have cut supply, and guys have the cash to burn.

What does Grundy say about al your mods? Or you did not itemize and just gave them total value?

[s8ilver]

What does Grundy say about al your mods? Or you did not itemize and just gave them total value?

Beats me. I'm insured with Progressive.

[magnetchief]

The buyer has bought some interest and not so interesting cars on BaT over the years.
He sometimes comments.
I think it’s just an odd collector with too much money.

Maybe a TV celebrity, ex late night host.
Who can tell.


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[Curt C]

Aren't there multiple bidders? Somebody else (or multiple parties) wanted it too I suspect. It is an eye opening figure.

[ZGator]

The buyer has bought some interest and not so interesting cars on BaT over the years.
He sometimes comments.
I think it’s just an odd collector with too much money.

Maybe a TV celebrity, ex late night host.
Who can tell.


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Maybe the same guy who bought the first 2020 Supra for $2.1 Million?

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[paul4223]

That Imola Coupe is simply stunning.

[s8ilver]

Same buyer just bought a 500 mile red Dodge Demon and a red 550 Maranello late last year. He also bought a red Mazda something or another and an 8k mile red Dodge Stealth. I think he likes red and low mileage.

https://bringatrailer.com/member/mike47/

[DimrBimmer]

Same buyer just bought a 500 mile red Dodge Demon and a red 550 Maranello late last year. He also bought a red Mazda something or another and an 8k mile red Dodge Stealth. I think he likes red and low mileage.

https://bringatrailer.com/member/mike47/

They must be selling something hot. Unable to bring up BAT website for 10 mins now. Or they got owned.

[z3forlife]

There’s a nice 02 LSB/LSB roadster going now