MyE28.com

KRsM5 wrote:
Wondering if, in another 10, 20, 30 years, we'll see these things up on auction at a Mecum or BJ auction. By then, there will surely only be a handful left in pristine condition. (mine will not be one of them!)

Just my $0.02

But it seems like e28 m5 owners have been waiting for the collector car prices of over a decade. I think in the end it will come down to the value will largely be held in a few low mileage cars. GeorgeH told me when I was considering his car that the value of an e28 m5 is and always will be a function of miles.

These cars re not like e30 m3's. They don't have a racing heritage, they were Q-ships. Other than Detroit muscle cars I am hard pressed to think of a car like the e28 m5 that has soared in value.

I wouldn't count on anything with an internal combustion engine being worth heaps of money in another 30 years, especially 80's sedans that are slower than a new Camry. These cars certainly aren't investments. On the topic of resprays, if done properly on a sound car I don't think it should affect the value. A well-done fresh coat of paint will always look better then faded 20 year old paint that's been buffed to the primer and is full of chips. Our cars aren't old enough for stuff like that to be called "patina."

After selling my M5 to Cory (see post above re: that sale), I found that I missed the car so much I started looking around for a low-mileage replacement. I found such a car in Geoff Hasley's (ghasley on the board) 44K M5 - which I purchased for $27,500. The car was never advertised for sale publicly and this sale/purchase came about because of our mutual involvement on the board and shared interest in these cars. Geoff had a chance to acquire a true "trophy car" and, in order to make that happen, needed to free up some garage space. Hence, the sale of this outstanding example to me!

I acknowledge that this is a lot of money for a 22 year old car. However, as you know, it is getting increasingly difficult to find these cars with low mileage and a well-documented service history - and typically the folks who own such cars are not interested in selling them.

A few specifics on this car:

44K original miles - 100% documented
No wreck/repair/repaint history
All original paint in outstanding condition - front spoiler does show some wear, however, which is to be expected
All exterior shadowline trim in outstanding condition
Interior in excellent shape - front seats recovered by Jim's Auto Upholstery in San Diego, CA
Car purchased by Geoff 9/09 from the estate of the original owner at approx. 42.5K
Complete service history from the date of original sale - the car appears to be completely sorted mechanically with no current service or repair requirements
Engine bay completely detailed - better than showroom condition
Totally stock condition (down to the fully functional SLS system and radio) with exception of recently installed Jim Conforti chip

The car is pretty well known on the board. For some additional detail and photos, check out Chris Keefer with LaJolla Independent's blog entry re: this car at www.bimmerdoc.com

Sold the car listed here

http://www.mye28.com/viewtopic.php?t=70584&highlight=

for $8500 to a local guy.

Bought my car in October '09, this car was located in Tomball, TX. It was originally advertised on Craigslist for $7000.00. Yes, this is the black-on-black, US Spec with the Hartge wheels.
I knew this car existed but had never actually seen one with black interior. Nevertheless get to own it. When I went over to look at the car it was sitting in storage, no need to hear or test drive, it was love at first sight Once I bought it, I had it checked with the dealership and they confirmed it was in fact 1 of 30 black-on-black. Work done to it:

Replaced clutch, All fluids, Window gaskets other than that the car runs and drives beautiful.
I feel like the luckiest dog in the world!!

http://bmwmregistry.com/detail.php?id=8025
Since buying my M5 last Christmas I can only say I wish I would have bought one long ago. I'm very pleased with mine. I paid 10,400.00 with 117,000 miles that are documented thru carfax. I have some history but the records are slim.....this I wish were more complete but then again I think this is why I got the car for 10k instead of 15k. The paint still shines deep, absolutely no rust, interior is wonderful and even better now with new recovered leather front seats. Its a stocker including original radio/CD pack in the trunk. Compression reads like new across all pumps. Tranny in 1st gear has the normal sing and you can hear the road near by, all the things that remind you that you're in an older car but it just FITS....I love starting that car, I love going thru the gears......I just don't have the heart to drive it everyday. Sunny dry days have been few in NC lately......I look forward to spring and driving in the country side. I love railroad tracks....they tell you a lot of the condition of the suspension.......my M5 feels like new....its solid.
I'm doing little things here and there but the car is turn key....everything works on it. It has a little ding in the trunk lip and the gas cover but that will be fixed very soon. I have Eibach front springs and Dinan rear springs. I'm looking to Chip and probably go with a cat back, other than that.....I'm driven baby.....!
PS, I also have my Aplina wheels on it now that I had refurbished over the winter.

1 OF 30 M5 wrote:Bought my car in October '09, this car was located in Tomball, TX. It was originally advertised on Craigslist for $7000.00. Yes, this is the black-on-black, US Spec with the Hartge wheels.
I knew this car existed but had never actually seen one with black interior. Nevertheless get to own it. When I went over to look at the car it was sitting in storage, no need to hear or test drive, it was love at first sight Once I bought it, I had it checked with the dealership and they confirmed it was in fact 1 of 30 black-on-black. Work done to it:

Replaced clutch, All fluids, Window gaskets other than that the car runs and drives beautiful.
I feel like the luckiest dog in the world!!

Hey Louis,
Found this - http://www.bmwmregistry.com/detail.php?id=7752

Very nicely done...

Sold my '88 M5 with 27K original miles for $18k in 2007 - I miss my car!

Bought my (almost bone stock) M5 in 1999 with 87k miles on it and paid $14,000.00. Now, 10 years later, I just rolled over 200K. It looks as good as it did the day I bought it and the drive train still cranks out the horsepower.

In fact, last weekend I went on a "fun run" with the local BMW CCA chapter and a couple of guys with much newer BMWs told me they couldn't keep up with me. I don't know if they realized how much that fed my ego!

Anyway, I was looking for just this sort of information as my M5 will be up for sale soon. It will be hard to let go, but other priorities have crept in and I just don't have the time and attention to put into it anymore. I've kept it as original as possible right down to the water hose clamps with the BMW roundel. I just need to find it a good home for a reasonable price.

Bought mine in 1997 (I think) for $16,000. I was a Jr. mechanic at the time working at a local Autohauz. I was originally looking for my first "Awesome car" and that I decided was an Audi Ur-S4. Well a customer came in with their E28 M5, test drove it and well that was that, search changed to this rig. Took 2 years to find an example I was comfortable getting a loan to buy. I (we) checked out many but insisted a through inspection by our shops top tech, a Swiss guy who knew this model very well. He insisted that after purchase, I wasent allowed to drive it anywhere until he replaced all the timing chain, rails, ect components. He was suprised it had a dual chain (ya I learned the difference between the M88 & S38, so did he). His labor rate doing the work after shop hours was fantastic so I asked what other preventitive work he could do. With him as the lead and me the grunt, we yanked the tranny, dropped the crankshaft and pistons. Changed the bearings and rings. Tossed in a clutch while everything was out. Had the driveshaft rebuilt while out too. This refresh at 100k would've cost a regular mark thousands. Since then I've replaced every wearable item on the car at least once and before it failed or had an issue. I put as much love and care into it as possible as that was my craft and passion. Well I graduated school and became an enginner with AT&T. Dailey commute was nearly 100 miles with my preferred route. Drove the M5 dailey with joy. Kept my desire to keep the car as perfict as possible. This wasent hard as now I was making real money and kept shop access/relations from my old shop, shop prices on parts, and mostly pride in my ride. It's been a great car and will continue to be if I have anything to do with it. I rambiling now but my point is allot of owners of these cars our obsessed with their care, I know I was. Buying a regularly maintaned car vs a obsessivly maintained means more than problems addressed, it also speaks volumes to how the car was treated outside of a mileage number or repair reciepts. Rare sports cars are tough to find in good shape because well, they are "sports cars" and driven as sutch. Especilly the price on these being so high, the owners were not mechanics, rather wealthy persons who could afford it and used it, often hard.
My $0.02 & food for though I hope.
Cheers all,
Brian

Paid $7500 for my first beater M5 in 2001. Paid ~$2500 for the CarBQ M5.

bdog,
You should use Firefox. It will catch all of your (plentiful) spelling mistakes.

Ya spell check....I'm doing this stuff off my iPhone. It allows me to kinda exist on the internot while staying outta the main house. So sorry for the grammer & spelling errors all. F7 not as easy but missed.

[quote="mooseheadm5"]Paid $7500 for my first beater M5 in 2001. Paid ~$2500 for the CarBQ M5.

Just paid 5k for an 86 M5 Euro here in Panama, the only one ever sold at the dealership. 40,000 kilometers, super strong, no air, no fuel gooahj, seat recliners broken, SLS works.

I purchased WBSDC9037J2791912 for 9,500 USD on Friday. The car has 155k miles on the odometer. It remains a stock vehicle including the cassette audio system, Self Levelling Suspension, and cross-weave wheels. Early ownership records are not available but I'm, at a minimum, the fourth owner, Jeff Tripp (NH) and James Phelps (NJ) were previous owners. Sports Cars International of Ft. Lee NJ sold the car to James in 1998 with 94k. The first CarFax database record was a 1994 lien at 51,005 mi in Westport, CT.

It was a fabulous drive to McLean, VA from Manchester, NH. The E28 M5 remains a wonderful sports car at 23 yrs of age.

Matt Bowen

Congrats Mab - hope you love it! Hope I see ya on the road sometime (I'm in NoVA too).

Hey Matt,

Sounds like you are quite happy with your purchase. I am as well with mine from Guido. Would like to hear more about your experiences with the car so far. I will pm or email you. Thanks again for your input on my car.

Greg

i bought mine w116k on the clock, only issue was a cap over cracked dash, and slight crazing on the horizonal paint surfaces.paid 12.5k ten years ago.
the paint is still original, and is getting extremely thin on the horizontals. i have over the years simply done whatever the car needs when it needs it.
mechanically perfect. interiour8 hoizontals3 sides and trim8.
when i bought it all i knew was how to change oil.
possibly the best part of owning this car has been the mechanic skill journey, brakes, alt, st pump, oil pump, timing chain job, new dash,shocks, bushings, you guys know all the jobs we do. it makes the ride that much sweeter.

Been chasing the dream and am gaining traction. Saw the M5 this weekend whose owner I've been communicating with for a couple months.

260k miles on the chassis, 30k on rebuilt engine w/ new clutch.
Dinan chip, cam sprocket, stage 1 suspension w/ SLS delete.
Has the wiggle under high-speed braking, so I need to get the rotors and UCA bushings checked (thanks forums!)

Exterior is very straight, a few chips and one small spot of clearcoat deterioration, along with a little wavy rear bumper trim.

Interior is where it really shows its age and mileage:
-Has a dash cover that doesn't look that bad, but isn't ideal, and old seat covers hiding the standard wear.
-Worn e-brake, but new shifter and boot.
-Steering wheel is quite worn too, but will be looking for a quality cover.
-One M insert in back seats has lost the blue and red.
-Most, but not quite all, seat position buttons work, as well as seat warmers and windows
-Brand new A/C conversion

Asking $12k, which I'm ready to spend if the inspection goes well this week. The pull of the S38 is just too damn addicting.

Nater wrote:
Exterior is very straight, a few chips and one small spot of clearcoat deterioration, along with a little wavy rear bumper trim.

I'd be asking questions about when the car was resprayed and why if there is clearcoat deterioration. E28 M5s were painted with single stage paint and did not have a clearcoat from the factory. If it' now has clearcoat, it was either repainted or may have been involved in an accident. There's also a slight possibility it was done by the dealership when the car was new.

In today's market, $12,5K is pretty steep for an M5 with 260K miles, although a rebuilt engine would help to justify the price. Be certain to ask to see the receipts for the engine rebuild. You should also ask to have a leakdown and compression test done by an independent BMW shop. If the seller balks, look elsewhere. It's a buyers market right now, and you can purchase a very nice lower mileage M5 for the kind of $$$s you're willing to spend.

Just my $.02.

Rich

I very much appreciate the 2 cents, Rich. It was repainted by the original owner, though I didn't ask the reason; I will. He also had compression numbers but I'm going to ask for a new test; he said all were at 145, but I think they're supposed to be higher, right (180-190)? Please forgive dumb questions, I'm new to this game.

He's a nice guy who isn't mechanically inclined but has enjoyed the car for 17 years. It may be a buyers market, but it's also an example with the mods I want and for sale locally, so I don't have to deal with eBay and distance.

I very much appreciate the input, and will update once it gets to the mechanic and I get to chat with him a bit.

You are correct the compression numbers seem low at 145. They might have done the test incorrectly. It supposed to be done with all the spark plugs removed, throttle wide open. If the throttle wasn't wide open, you'll get low numbers.

Also a compression test doesn't tell the full story. There can be some serious issues starting to crop up which won't be caught by a compression test. This is why you want to have a leak down test done, preferably when the engine is warmed up to operating temperature.

There's no reason to buy on Ebay, nice E28 M5s are for sale on this forum. Shipping cross country via a very reputable carrier will cost about $1k. There are guys on the forum that can provide references for shippers.

Here is one in Atlanta, GA for $8K, something over164K miles, with good compression and leak down numbers.

This one in Nashville, TN is $10 K, 195K miles with documented engine rebuild in the past 10K miles.

As I mentioned in my earlier post be certain to ask for the documentation of the rebuild. A full rebuild will cost about $10K, and there should be a long list of replaced components and machine shop charges. If the seller can't produce receipts, his rebuild claims are suspect.

Good luck.

Rich

As soon I saw the 145s across the board, I was suspecting the test was not done properly. The guy has receipts for the $8500 rebuild as well as most everything else, though I have yet to see them.

I emailed Curtis and am very interested in his car; I'd ogled the pictures he posted in that thread, but hadn't considered buying from afar. I'm highly intrigued now, but am a little wary of the distance. I trust that I could get a good carrier (with your guys' help, that is), and despite communication and pictures and all that, it would be scary to buy my dream car sight unseen. Any recommendations on assuaging these fears? How do I know it actually exists, and how do I trust a PPI if I can't meet the mechanic?

I truly appreciate your help, and am so thankful for this forum!

You need to introduce yourself to the forum, versus simply posting in this thread. I think it would be appropriate to do so in the General Section and to also ask for PPI help in the Nashville area.

The car is real, "Rich in TN" who has posted within Curtis' For Sale thread is a longtime member of the forum can probably give you the name of a reputable independent BMW shop near Nashville to do the PPL.

Rich

Rich Euro M5 wrote:...versus simply posting in this thread.

This thread is about "purchase prices" not "advertised prices and advise".

Rich is right, a general conversation thread of your own would be best.

Bought MY M5 in August for $10,500. 210,000 miles which is considered on the high side...

Except....

The last three owners were forum members with tons of history on this board.
All receipts were included dating back to 1998.
It had upgrades I wanted that are hard to find, such as...Mtech body kit, suspension, stereo, wheels, timing chain and guides upgraded, fahey hub, Split Second conversion, and in VERY nice condition....all this plus the documented history made this car a no brainer in my book.



I've put over 2000 miles on it in the last two months and it hasn't skipped a beat. Simply a wonderful car.

The deal is done, and I'm flying to Tennessee next weekend to pick up Curtis' car (Bakester)
http://www.mye28.com/viewtopic.php?t=97057



After arranging some work done on it before I get it, we've negotiated a price slightly higher than the original $10k asking price, but not much. I think it's a great price considering the recent rebuild, as well as the the love and amazing attention to detail that Curtis has given this car. I am indescribably excited, and I think we're both happy with the deal.

Many thanks to the members of the board for their advice, and for helping to steer me towards Curtis. Your help has been truly invaluable.

I will start a separate thread next week to document the journey, as my brother and I will be getting acquainted with the M5 on a roadtrip from TN to CA before Thanksgiving.

Nice!!!! Congratulations!

My brother is my roadtrip partner as well. I've bought a Porsche in FL, a F250 in Dallas, a Mercedes in FL, another M5 in NorCal and even another M5 in Houston, A Suburban in Houston more I can't remember ....and driven them ALL back to CA. There is NOTHING I like more than flying in, picking up a cool car to drive home.

I am appalled at how cheap i can buy us spec E28 M5 here in Europe must pay at least 20000Euro for an orginal m5, and the good is traded at around 40000 euro

http://suchen.mobile.de/fahrzeuge/showD ... geNumber=1

How much is shipping, and would there be importing issues?