CSL Sold at Sotheby's

[lafngrvy]

Henry Schmitt offered 2 CSL's through Sotheby's over the weekend. The factory race car was a no sell. I'm not sure what reserve he had on it.

The street CSL sold for $131K. Too much? Not enough? A good buy?

What do you think?

 

[Markos]

I think it was a good deal. The 2017 bonhams auction for a colorado carb CSL ended at $245K reserve not met. Assuming that car has great sheetmetal and base paintwork. One could likely do a full body respray and rebuild the original motor for $70K. Even if the buyer accepted well below market value, they could make $50K.

What I don’t know and will never know is if there are any whispers or concerns about this car that the CSL community may have. Im quit ignorant when it comes to the CSL market dynamics, so I’ll happily say kudos to the buyer!

 

[teahead]

Seems cheap if it was a real bat car.

Seems kinda early for one though?

 

[sandhu]

It’s not a bat car.... early carb Csl !!!

 

[JFENG]

AFAIK, this is an early light weight carb car tarted up to look like a BAT. To maximize it's value you would remove all the incorrect stuff and make it closer to original.
I agree that this seems very well bought, if the body is full of rust and filler.

 

[Wes]

AFAIK, this is an early light weight carb car tarted up to look like a BAT. To maximize it's value you would remove all the incorrect stuff and make it closer to original.
I agree that this seems very well bought, if the body is full of rust and filler.

I don't think they made carbd Bat's. The vin would tell you but I would have thought this was one of the first 169 carbed CSL's produced before they switched to the injected csi motors.

 

[Arde]

Not enough.

 

[Markos]

I don't think they made carbd Bat's. The vin would tell you but I would have thought this was one of the first 169 carbed CSL's produced before they switched to the injected csi motors.

The black batmobile tribute is indeed one of the original 169 CSL’s. That is the basis for my $130K being a good deal statement. The 169 sold for more than $130K 5 years ago. Funny looking at the results though. They don’t do well at auction. Perhaps it is difficult for collectors to pay $200K+ on a rather spartan e9. I love everything about them. They are by far my favorite CSL’s.

2017 Bonhams, values up to $330. Bidding stopped at at $245K, reserve not met. Previously owned by known quantities:

Bonhams Cars : 1972 BMW 3.0 CSL Chassis no. 2212314 Engine no. 2212314

2,985cc SOHC Inline 6-Cylinder Engine 2 Twin-Choke Zenith Carburetors 185bhp at 6,000rpm 4-Speed Manual Transmission 4-Wheel Independent Suspension 4-Wheel Disc Brakes *A great example of BMW's legendary homologation special *Matching-numbers CSL in striking and rare Colorado Orange...

www.bonhams.com

2014 Bid to $180K at Mecum. Sold for $180-$200K. Remind yourself what the market looked like 5 years ago.

www.lezebre.eu

BMW 30 CSL 2211376

www.lezebre.eu

Hagerty Current value $150K fair - $330K concours:

1971 BMW 3.0CSL Base | Hagerty Valuation Tools

Have you seen the latest 1971 BMW 3.0CSL values?

www.hagerty.com

 

[JayWltrs]

AFAIK, this is an early light weight carb car tarted up to look like a BAT. To maximize it's value you would remove all the incorrect stuff and make it closer to original.
I agree that this seems very well bought, if the body is full of rust and filler.

I support "tarted up" being revived--a wonderfully dismissive, yet proper sounding, slight.

 

[JayWltrs]

2211366 sold to local good guy, vintage racer, and collector here in OKC last year(?). I have no idea of the purchase price. The guy races a Bizzarrini, a Lister-Maserati before that, and other cars I'd be terrified to wreck. Before I knew that, I had this among wallpaper pics on my laptop, and then I saw the dadgum thing locally. Big double-take.

 

[shanon]

Well bought.

 

[Wes]

Can't fathom why you'd do that to such a rare/valuable car.
Hope new buyer takes it back to factory spec.

 

[craterface]

Probably well bought, but hard to tell from the photos. It's going to cost some money to repair and rebuild the original block. That should go in the car for sure.
It is a shame that the original lightweight CSL configuration was messed with, but 25 years ago this was a 30k car.

 

[rsporsche]

i think well bought / perhaps too cheap. the good news is that the new owner can bring it to concours condition and still have some headroom on the value side.

 

[JFENG]

My well to do friends all just got back from Monterey. It’s an annual trip they make to race the historical and prehistorics, wine and dine and buy sell cars. They said the auctions were all pretty morbid in the sense that buyers weren’t buying and reserves weren’t being might all over the place. One of them picked a formula car that Moss drove to a GP victory back in the day. He paid significantly less than you would have paid last year for this model without the driver/winning provenance. Yes, he has a thing about buying cars that Moss won with.

These guys are way smarter than me. I work for a salary. They start companies and pay others a salary to work. So, it might be time to rebalance your 401k portfolio a bit towards non stock holdings.