Massive Apparent E30 Market Price Increase

[bmoores]

I can see maybe 12-15k, which is probably what eag paid. As mentioned, they are good at finding these cars , cleaning them up and advertising them. They have done all of the work for those with more money than time.

They probably bought this car for $12-15K, cleaned it up did a few minor repairs. Then they keep it's price sky-high, along with everything else they sell. Eventually, someone with more money than brains thinks they're getting a deal on a rare car.

All that being said, unless you get an agreed-upon value for it, that thing will only be worth $7-9K in insurance value.

The car referenced along with the other 325 listed on their site were listed in tandem for $20k. That price was for BOTH cars. The original link was posted here somewhere. I'll try and find it but they were posted here via a Winston Salem Craigslist ad. I purchased my M5 from EAG and it's ran flawlessly for 12K miles. I had one small technical issue to which they responded immediately and resolved my issue at no cost to me within 48 hours. While a part of me hates their pricing you can't knock their hustle.

[agent]

Yes, but it's bad for those who used to rely on $500 e30s to pop up so we could fix them and make a buck.

Now, people want $1k for shitboxes that popped the timing belt and need an engine.

There are plenty of guys who got into this chassis specifically for that reason. They saw an opportunity to make a buck and started snatching up all the cheap E30s to either fix and flip or part out and cash in. EAG just does it with nicer cars and at a much higher price point.

[jhaurimn]

A buddy of mine's dad just bought two e30 m3s and a e28 m5 from EAG. One of the e30 m3s was a vert too...

Yes, low mile e30 prices are going up. They have been going up

[slammin.e28]

Isn't the increasing value of E30s a good thing for those of us who already own them?

Yes, but it's bad for those who used to rely on $500 e30s to pop up so we could fix them and make a buck.

Now, people want $1k for shitboxes that popped the timing belt and need an engine.

[nrubenstein]

This kind of crap has been going on in the 2002 world for years.

Aside from the aforementioned niche-carving, it is rumored that dealerships like this one will often jack up prices with fake sales to push the market up for certain cars, so they can sell at exorbitant prices. It's like hedge-fund managing.

They probably bought this car for $12-15K, cleaned it up did a few minor repairs. Then they keep it's price sky-high, along with everything else they sell. Eventually, someone with more money than brains thinks they're getting a deal on a rare car.

All that being said, unless you get an agreed-upon value for it, that thing will only be worth $7-9K in insurance value.

Your logic is backwards. Eventually somebody who values their time more than their money comes along. Let's be realistic here: if you have $30k cash to spend on an E30, you're probably an accredited investor. Finding an equivalent cherry E30 today and not paying the EAG premium means spending how many months, and traveling how far, and putting how much effort in? If you're billing a few hundred bucks an hour, it generally makes more sense to pay someone else to get that car for you.

[agent]

Isn't the increasing value of E30s a good thing for those of us who already own them?

[slammin.e28]

Hate these fucking assholes.

I do this with e28s, trying in vain to make mine worth a mint in a decade or so.

I will make bank one day, mark my words.

[ClayW]

This kind of crap has been going on in the 2002 world for years.

Aside from the aforementioned niche-carving, it is rumored that dealerships like this one will often jack up prices with fake sales to push the market up for certain cars, so they can sell at exorbitant prices. It's like hedge-fund managing.

They probably bought this car for $12-15K, cleaned it up did a few minor repairs. Then they keep it's price sky-high, along with everything else they sell. Eventually, someone with more money than brains thinks they're getting a deal on a rare car.

All that being said, unless you get an agreed-upon value for it, that thing will only be worth $7-9K in insurance value.

[freeride53]

Have these guys actually sold any E30's at these types of prices?

[reelizmpro]

I can see maybe 12-15k, which is probably what eag paid. As mentioned, they are good at finding these cars , cleaning them up and advertising them. They have done all of the work for those with more money than time.

[goldenbb]

Not sure how many E30s bought it because of Cash4Clunkers, I think mostly SUVs like Ford Exploders and those Awful Dodge abominations, Durango? ate it pretty hard. The parting out stuff kind of bugs, me, too, but the auto market is in a complete glut with new cars competing with used cars and except for enthusiasts, nobody wants an E30, you can't hardly give away an eta, so what are you going to do except junk it or part it out and then junk it? It's their property, they can dispose of it how they like.

Oh, and yes, driving cars into the ground is typically what Americans do because few people can be bothered to really maintain something mechanical. It's all part of our cultural collapse. Poor people just trash everything and rich people buy new at the first sign of trouble.

[E30 Wagen]

and others have been parting out every E30 they can get their hands on.

Hate these fucking assholes.

[GillesBigCowboy]

Maybe if i show my wife this thread she will let me buy more e30s....?

[nrubenstein]

Enthusiast Auto and the rest of the market have a disconnect. They sell difficult to obtain cars to people with more money than time on the premise that you'd have to spend months, if not years looking for an equivalent car. It's a good business if you can carve the niche out for yourself. And the reality is that just by existing and buying up many of the nicest cars, they lock in a lot of that market.

That they are now selling regular (very nice) E30s is more a reflection of just how hard it is getting to obtain them. Honestly, it's a lot harder to find a cherry 325is these days, IMHO, than an M3. They are all getting driven into the ground. And since they are cheap, many people (like me) have spare E30s, and others have been parting out every E30 they can get their hands on. Between that and cash for clunkers, well.... I watch craigslist in our area a lot, and the inventory is a lot less than it used to be.

[Nick_S]

That dealership is known to often ask outrageous prices for cars too.