73 3.0 (3.5) Built engine - 79k

[David]

I appreciate the interesting discussion here.

I think the problem is that there actually have been many non-CSL sales in the $50-$70k range, and CSL sales that are +$100k. But those are private sales that are not discussed. The result is that people use eBay to get a read on the value of cars that may be in need of expensive work, and so the comparison isnt really fair. I cannot believe an $18k coupe is equivalent to coupes some of the local brokers are sorting and selling for +$50k.

Reverse engineering the business a bit: Carl Nelson's shop is in La Jolla, about a block from the beach in Birdrock if I recall. Its hard to find more expensive real estate. If a really nice E9 costs $18k, who would pay him to restore one ?? So if if he isn't restoring them at a steep price then he isn't covering rent in La Jolla. You wouldn't pay a high amount to restore a car if it was only worth/replaceable for $18k.

 

[JDJ]

There are more buyers than available properly sorted well-done cars at Coupeking right now. The best of these cars with all of the upgrades and properly done are $60,000 plus. There are several recent tranactions at prices in the 60s and 70s. With the wide range of issues these cars have, many people are hesitant to buy a problem off Ebay and will pay for a solid car from one of the handful of reputable dealers. I think some of the comments here are correct, the best coupes are gradually getting more expensive and the stuff on the internet is not representative of a strong market for the best cars.

 

[iconoclast6]

Yup...there is the conundrum/contradiction of book values/ebay/craig's list vs. private sales, but that's all it is, until adequate due diligence is performed. You'll then either buy something/anything at 18K or so, and then roll up your sleeves and open the wallet. Or, one will embark on the more patient, time consuming path

In my view BMW helped sabotage their classics, relative to other European cars, by going mass market. Also, were still in the midst of American muscle mania.

I was at a BMW/Euro car event this week-end, with mostly mid to later model BMW's. Among the few classics, were 3 e9's (including my own) and a 2002. A rare sighting to see coupes at all, all 3 of the e9's came from the West Coast (CoupeKing and Carl Nelson) with restoration and service continued on 2 of them at Mario's VSR1 in NH. I'm aware of, or have seen the work performed on many of the top e9's on the East & West Coast. As it turns out, a fellow at this past week-end's show in NY, with a rare e30, knew of my car from his shopping trip out West for an e9. This is not an unusual thing for many owners, as many serious potential buyers not in a hurry often look to current owners for a "word of mouth" opportune purchases. My conduit was Murray "BlueMax" Fowler and a local e9 owner.

I guess the point I'm making is that many of us know the better cars from having a sense of their history, their restorations/repairs, seeing them at shows or reading about them in publications. Its an insular group for sure, and I bet not one of us would sell via ebay/craigs list or an auction unless there was a compelling reason.

So while it's true, e9's are under-valued, they have significantly increased during my period of ownership. Most well sorted CS's/CSI's simply cannot currently be had for less than $40K at the practical low end & $60k at the mid-range.

I guess there is always the chance of the rare barn-find, but I wouldn't recommend holding your breath for it....

 

[craterface]

Further supporting the higher valuations, I can think of a couple of really good cars like the Ceylon coupe in Santa Rosa CA, which sold on ebay for 40 plus in the fall of 2010. Prior to the that, at the nadir of the recession, the nicely restored coupe belonging to "psych runner " from this board sold for about 38k I believe. I paid 24k for mine, and it is not a truly "restored" car. Sure it was repainted to a high standard and it is very nice overall, and MUCH nicer than most of the eBay offerings, but not nearly as nice as the Ceylon car or psychrunner's, which I think are well worth the money. When and if more non-CSLs are offered at auction, the price guides will catch up.

 

[RonP]

Just for posterity, I think I am at liberty to disclose what I sold CSL 2275015 for. This was one of two "barn find CSLs" that I got my mitts on (the other was 2275205 that was featured in Bimmer Magazine). It was a series 2 CSL that hadn't been driven or run since 1988. It was in need of a full restoration. It had been repainted once long ago, seats were ripped, paint was dead (Verona), but otherwise a very special car. It was built as non city pack car with front bumper delete, fiberglass rear bumper, plexi rear widows,crank front windows, no sway bars, alu hood, trunk, and doors, but had a mech trunk and full tool kit. Car sold for $100k and now resides back in Europe. No rust, but dings and dents. Sale was in February this year.