Tuesday, November 17, 2009

1988 BMW (E24) 6 Series on eBay... $250,000.00. Firm.

I've never written a post like this before.

I woke up early Monday morning and took a quick glance at eBay Motors. I spotted a 1988 6 Series being offered for $250,000.00. I laughed, thinking it was a typo. I figured he must have meant $25,000.00. I didn't look at the listing, but I enlarged the picture on the main page and saw that there was some custom bodywork done. Even $25,000.00 is extremely steep for an E24 6 Series but, given the amount of bodywork done, I could see someone asking for that kind of money. I couldn't really see them getting it... but, you never know.

Just a Car Geek reader, Richard, mentioned the car in his comment about yesterday's 320i post, so I thought I'd re-visit the eBay listing.

THIS GUY IS SERIOUS. He wants a quarter-of-a-million dollars for this car!

I don't even know what to say. The seller claims he has $92,000.00 invested in it. OK, fine, I find that hard to believe, but even if it's true, that doesn't make it worth $92,000.00, let alone $250K. (Some of his monetary claims don't make sense. For instance, he claims the price of the first motor - which didn't work out and is no longer in the car - as part of his $92,000.00 investment in the car. Technically, I guess, it's part of his investment, but once it's out of the car and gone, it's value is 0. It adds no value to the car. It would be like selling a red car, but claiming that the $5000.00 black paint job you covered over is part of the car's value.) Even if you somehow feel that he's entitled to getting his "investment" back, what's with the extra $158,000.00?

Other people seem to be as amazed as I am... The seller, to his credit, has posted the e-mails he's received.

One person tried to be diplomatic...

I'm sorry, but I'm comfortable and I have enough information to know that the value of a car has nothing to do with how much money or time has been spent on it. Cars that command 6 figures are usually made in small quantities, are extremely original, have a race/competition pedigree, and most often come from Italy. You've done some nice work on the car but it has none of those qualities. It's highly unlikely that anyone would offer you even $25,000 for that car. It's simply not worth the kind of money you're asking for it. In the world of classic BMWs it is insignificant. Even a "survivor" M635CSI with low miles and in original condition would be lucky to bring $50,000. Good luck to you though.

Others have been more to the point...

I think you have a typo. Did you mean $25,000? Cause for $250,000 I can get an 04' Ferrari 360 Challenge Stradale plus have enough left over for an 09' R8 and they'd both be running.

And...

One quarter of a MILLION dollars?!? For a BMW 6 replica? You know you can buy an M1 for that price?

And, short and to the point...

THIS IS A JOKE RIGHT?

Cars are subjective things. I'm pretty certain there are people who read this blog and think, "Jesus, this guy thinks a Maserati Biturbo is a cool car? He wants a Laforza? An Innocenti Detomaso Turbo? He's nuts!" I'm not real comfortable criticizing someones dream car, but, I mean, c'mon, $250,000.00 for an over-customized E24?

At any price it's not my kind of car, but I can appreciate the amount of work he's put into it and I'm really happy that he wound up with his dream car. Honestly though, if someone else has the same dream (which I really can't imagine), why would they pay $250,000.00 for this car? Especially knowing that the seller spent "only" $92,000.00 to have all the work done. (Actually, they'd have to spend less, a lot less, as they could avoid his mistakes and also not pay towing charges and other incidental fees he includes in his investment costs.)

I'm kind of hoping someone does buy it for $250K. Because, using some of my own fuzzy investment / value math, if this car is worth $250K, my 200,000 mile, stock, E36 BMW is now worth $45,000.00. Yippee!

I just don't get the logic behind this car and its asking price. I think he'll be owning this car for a very, very long time.

Located in Campbell, CA (where there must be something really good in the water), click here to see the eBay listing.

Check out Bring A Trailer for a drop dead gorgeous E24 M6, selling for 6% of the price of this car. Find it here.

1 comment:

Richard said...

I could understand if this guy was a regular Joe off the street, maybe inherited the car and knew nothing about the 6-Series, but he obviously knows these things inside out.

To make matters worse, I Googled the guys name, and he turns out to be a car salesman, not any old car dealer, but a BMW car salesman.

Either this is an impressive advertising stunt or the guy is loosing it.