What $12,500 (asking) will buy you for a project roundie

[tech71]

Holy Moly... Current bid on Ebay is up to $4000, I'm gobsmacked, speechless.

Edited October 4, 2022 by tech71

[paulyg]

We should rejoice...

[Tdh]

15 hours ago, thehackmechanic said:

Whenever you see a car hawked by a vintage car dealer (e.g. inside a structure with rows of Porsches and Alfas), nine times out of ten you know it's not only no bargain, it's stupid money. Every once in a while you'll see a shop trying to move a car quickly for a customer who's bailing out of it, but it's rare, and when you do, it likely means that the shop didn't want to buy it either, and that tells you something.

X2 on this comment.  The sad part is, someone will sucker themselves into thinking it won't be that bad of a project and buy it. The sales pitch will include comments like "all the parts are there" or "its an original car that'll make a great project." It'll most likely sell for somewhere between 7K to 9K. It's almost always either a younger guy with a family or a recent retiree, both of which finally have either the money or the time for that "project" they've always wanted.

[2002Scoob]

4g's and reserve isn't met... jeebz. 

 

Even if you moved the decimal point to the left a spot, it still wouldn't be a good value. 

 

I hope whoever is considering buying this finds the FAQ and hopefully this thread before, and not after purchase. 

 

Awaits Topic of  'New 2002 Owner, Lots of Questions!!'

[Mike Self]

I will say those door upholstery panels are really nice...but not $12k nice!

 

mike

[Dave919]

28 minutes ago, Mike Self said:

I will say those door upholstery panels are really nice...but not $12k nice!

 

mike

Exactly my thought as I need that color and condition! LOL

[conkitchen]

5 hours ago, 2002Scoob said:

4g's and reserve isn't met... jeebz. 

 

because it's being shilled 

[72MetallicMalaga]

I'm ignorant to full restoration prices. Hypothetically speaking, if someone took this to a solid shop to get fully restored, what's the ballpark range for cost? Like a full ground up restoration.

[Conserv]

7 hours ago, 2002Scoob said:

 

… I hope whoever is considering buying this finds the FAQ and hopefully this thread before, and not after purchase. 

 

Awaits Topic of  'New 2002 Owner, Lots of Questions!!'

 

Amen!
 

Regards,

 

Steve

 

 

[Conserv]

22 hours ago, 72MetallicMalaga said:

I'm ignorant to full restoration prices. Hypothetically speaking, if someone took this to a solid shop to get fully restored, what's the ballpark range for cost? Like a full ground up restoration.

$70K to $110K, but could be more if you discover there’s really not much body left after you cut away the rust…

Very few restoration shops would take this project on. It’s one thing to dig into a rusted-out 1961 Maserati that could be worth $400k in mint restored condition, but this car in mint restored condition might be $40-$50K at best.

 

Seriously.

 

Regards,

 

Steve

 

 

[Tdh]

16 hours ago, Conserv said:

$70K to $110K, but could be more if you discover there’s really not much body left after you cut away the rust…

 

Seriously.

 

Regards,

 

Steve

 

 

He ain't lyin'...

[jp5Touring]

eBay auction over ten bids to $4550.    Just wow.  I don't think I could go over a grand and I have a body man in the family.

Edited October 6, 2022 by jp5Touring

[bmw_e30]

i'm waiting for slavs to comment on this car.........

[dasfrogger]

I am constantly amazed by how much cars like this sell for (or maybe how much people are willing to pay since this was RNM).

Even more surprising that solid, but not perfect, cars like this don't sell for much more...seems like there should be a much bigger divide
 

Euro 1967 BMW 1600-2

BRINGATRAILER.COM

---

Bid for the chance to own a Euro 1967 BMW 1600-2 at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #86,039.

 

[72MetallicMalaga]

I think there is a "social media cool" factor with the '02s that contributes to increasing value, but I also I think it's easy as owners of these vehicles for us to overlook the fact that these vehicles are actually tough to come by now. Some FAQ'ers, especially the old timers here, bought their cars 10-15 years ago; we're already on the boat.

 

Original example in this post aside, for someone that might skip picking up an '02 because they think it's overvalued, that means at the end of the day they still don't have one in their garage because someone else is willing to pay a little more. This also keeps driving up costs.

 

Overall, good for existing owners. Values will only keep going up.