Big $$$$ E28 on Ebay--thoughts

[ddstl]

I've been watching (simply out of curiosity)the auction for the stunning White E28 on Ebay(see link). Anyone else think the bids were over the top for this car?? Even more nuts is that the reserve wasn't met.
Now don't get me wrong, it's a stunningly attractive car that seems to be well sorted, and fast; but over12k for what is technically a non-collectible, not rare one-of-a-kind modified US E28 that anyone with money could build??

Wow!

Link: http://cgi.ebay.com/ebaymotors/ws/eBayI ... AMEWA%3AIT

[Tim in N FL]

YES, you have a good point...but it IS a gorgeous example. Personally, I'd put that amount of money into a super clean ///M535i like the red one that is now back on the market or perhaps an ///M5. Who knows....but someone will eventually get the one they want, eh?

[ddstl]

yeah, mee too--can't see spending that much money for something I could do myself. A low mileage, clean M535i?? Maybe someday!!!
Watching Barrett-Jackson this past weekend, it was staggering how much money separated original, unmolested examples with matching numbers, versus beautifully painted carcases with crate motors. Are E28's ready for Barrett-Jackson??? :p

Speaking of rare and unique cars, did that Johnny Miller Euro M5 ever sell?? Anyone know what it went for???

[RonP]

Nope, it didn't sell. It had some bids the first go around, but none the second time and the reserve was 13k!

[Spark]

I would have paid that much for my car and then some if it had all the stuff that I have done to it already. I have over $15k into it thus far with probably another $2k to go (euro bumpers, M5 steering box). Now of course I do know the condition of the car from top to bottom as I have done most of the work myself and with less than 116k miles, it is a bit easier to justify. All that being said, I doubt anyone would give me $15k for it

:p

[Black Out]

not a big fan of that front spoiler or the wheels but other than that its nice

[Jon in Richmond]

Well, I think he paid around $15k for that car. With that being said, $12k - $13 isn't bad for a car that is that well sorted out. That is for someone who wants a great car already done. I'm sure finding a car and putting everything into it that has been done to this one would run you way more than $15k. So it is all perspective. For those of us who like to put the effort into building a car like that there is no substitute. I can't see how anyone could say that car is not worth the money though.

Just my .02 cents

[Mark 88/M5 Houston]

Funny thing about that listing - when I type the last seven digits of the VIN into my ETK it comes up as a M5 Sedan USA.

[Bob in San Jose]

Mark,
Look down in the listing. He corrected the VIN.

[Mark 88/M5 Houston]

Sorry, didn't read that far. Looks nice but that is more than I paid for my 88,XXX mi M5.

[Marshall]

It seems to me that the question is not whether an e28 is worth $10-$15,000. The real question is does the car have enough driveable miles left in it to justify the per mile (or per year) cost up to the point that you sell/salvage it and realize a recapture of a portion of your investment. To put it another way, what other car can you purchase for 'X' that will give you more class, more performance, more enjoyment for $15,000 or less? Obviously the purchase price should reflect the replacement of wear items, but whether you replace the parts yourself or pay for them in the purchase price of the car is irrelevant as long as the money you spent translates in useful transportation miles.

If the 'dress up' item cost is not factored into the cost per mile, the m30 powered e28 gives one the most value/fun per mile for the cost than any car!

All of the above is moot if you just love the way the car looks, feels in the turns, stops when you nail the pedal, accelerates off of a turn and feels when you run it up on the "BIG" end of the rpm range! At this point the cost per mile becomes irrelevant!

[Velocewest]

Thoughts --

1. Why do people list "estimated horsepower"? A dyno run is cheap. Methinks they do not want the truth.

2. Context -- a new Toyota Corolla costs $16,000. This is M535i performance for the price of a Hyundai.

3. It would have been well sold at $10,000 -- you NEVER get back what you put into performance or cosmetic upgrades on a common car. You seldom get them back on an uncommon car.

[BDK]

This kinda to the whole thread here,

Watching Barrett-Jackson this past weekend, it was staggering how much money separated original, unmolested examples with matching numbers, versus beautifully painted carcases with crate motors. Are E28's ready for Barrett-Jackson???

You're forgetting the hottest part of the hotrod market with this statement, the truely customs, like Foose, RadRides by Troy ect, these guys are basically cranking out custom beautifully painted carcasses with crate motors and fetching well over $200k for them, some as high as $3mil for cars that originally cost $5k. Don't forget the Eleanor cars either $100k-$180K....for a 67 Mustang......
Is the E28 to that status yet, probably not. Will it ever be, only time will tell.
As far as their worth??? I always look at it like this, you can buy it cheap and put $$ into it or buy it already done or somewhere in the middle. The car is worth what ever someone is willing to pay for it. Obviously someone paid $12,750 for Matts car. I think Bangle has done us a favor, as the new BMWs are nice, they do not drive like the older ones and I really think that will work to our favor one day.

a new Toyota Corolla costs $16,000. This is M535i performance for the price of a Hyundai.

I gotta $100 that says a new Corolla won't be around in 20yrs mit 252K miles on it, not on the original motor, not being in as good as shape as our cars, and I doubt any body will be collecting them considering they're being mass produced. The real difference between Jap cars and BMW cars is fit and finish, I know 20 yr old BMWs that don't rattle as bad as 6 Mos old Hondas....

This is just my 2 cents though....

[Velocewest]

I gotta $100 that says a new Corolla won't be around in 20yrs mit 252K miles on it, not on the original motor, not being in as good as shape as our cars, and I doubt any body will be collecting them considering they're being mass produced. The real difference between Jap cars and BMW cars is fit and finish, I know 20 yr old BMWs that don't rattle as bad as 6 Mos old Hondas....

This is just my 2 cents though....

That was my intended point -- even if $12k is a premium price for this e28, you're still getting a lot more car than any new car at an equivalent price. I never have and never will buy a new car for just that reason. To approach the quality and performance of my cars, I'd have to spend over $25k, and I still would not have a car that a) appeals to me and b) has lasting value.

I have a friend with a Mitsu Evo. It's a kick in the ass to drive, with all wheel drive and almost 300hp, but it's not really an interesting car -- more of a speed tool. It's his daily driver/winter car. He has a shop full of cars he really cares about -- three B7's, an M535i, a couple Healeys, a few other assorted Brit cars.



[Edit by Velocewest on [TIME]1107400356[/TIME]]

[Mac]

It's a subjective matter, to be sure, but: I'd rather have an e28 that was distinctive by my own hand. Even if it came down to that hand writing a check. That being said, I'd opt for an american e28 with a TCD turbo/intercooler kit, Haltek enging mgmt, 850 brakes, konis/springs, euro bumpers, etc. ad nauseum. For $12k+, I would think that most of us could build (or have commisioned) a rendition of e28 personalized to ourselves.

Sadly, if you're only interested in Barrett-Jackson digits, you'd best steer towards american muscle.