Is Enthusiast Auto Group Retarded? R3V's thoughts...

[2mAn]

I do like that 320iS so cool.

[Stanley Rockafella]

I do like that 320iS so cool.

this is the first one I've actually got to see the engine

[e34john]

It sucks for me and you but they are doing it right. Who cares if they sit for years, its not like they are going to depreciate. I'd be doing the same thing if I had capital to start it up. Even thinking of just buying anything I can find to just hoard it in the yard. Look at that rust bucket that sold for $2 million in France. Or those 23 window VWs those things are going for $20 grand as rusted shells.

[varg]

A car is worth what you can find a buyer to pay for it. That said, I think the current surge in prices for some classics such as E30 M3s and 911s is a hype bubble and eventually some "investors" who want to hold onto the cars for a while then sell them for more will be left holding the bag. And it will be funny.

[rturbo 930]

A car is worth what you can find a buyer to pay for it. That said, I think the current surge in prices for some classics such as E30 M3s and 911s is a hype bubble and eventually some "investors" who want to hold onto the cars for a while then sell them for more will be left holding the bag. And it will be funny.

Oh, you mean like what happened during the muscle car boom? Those poor bastards thinking they were making a great investment spending the better part of a million on an old car. I want to feel bad for them, but I don't.


But I don't know if that's going to happen. None of these cars will ever be as cheap as they were 10 years ago. And I'm not sure exactly how much they'll come down in price after things start to level out. 356 prices went up, and never really went down, and I think the 911 market is going to be the same way. Unfortunate for those of us who care more about the driving experience than the monetary value, but oh well.

[Nesset]

Well the Italian market 320is is pretty cool. Not 40k cool but cool..

[mark1991]

I recently had the chance to check out a 318is with approx. 63k original miles. The buyer paid top dollar for it, and it was indeed one of the cleanest original examples I have ever seen. The price he paid was very close to the 318is pictured above. For me, it's tough to stomach the price he paid, but for him personally it was alright, and he got everything he wanted.

I am the person who was paid "far too much" for this 318is. However, it has perfect original paint and a perfect interior along with virtually no "wear and tear" on any of the systems. For me, it was a question of paying a high price for the perfect car or paying $5000 for a car that needs an interior and a full repaint and about $3,000 worth of other stuff to have fixed. I would estimate that it would cost upwards of $10k for a full factory quality paint job along with about $4k to fully restore an interior. It is easy to get above $20k either way.

[613EDRTY]

I couldn't get passed op's user name.

[Andy Mechnic]

I'm glad that these cars are fetching what it would cost to make one new again. That is rare and makes me proud to own a couple, even if they are poor examples of the breed.

[G FORCE]

They have a great business model and a commanding presence in the market. It is not unlike any other reputable business that puts out quality work or products; some people will deem that quality worth the higher price. If you want a turn key, pristine example of a BMW, they are it.

[mr2peak]

I am the person who was paid "far too much" for this 318is. However, it has perfect original paint and a perfect interior along with virtually no "wear and tear" on any of the systems. For me, it was a question of paying a high price for the perfect car or paying $5000 for a car that needs an interior and a full repaint and about $3,000 worth of other stuff to have fixed. I would estimate that it would cost upwards of $10k for a full factory quality paint job along with about $4k to fully restore an interior. It is easy to get above $20k either way.

Well said. The prices are beginning to reflect what it costs to semi-restore a car. This isn't going to be a bubble that bursts because they are fixed costs, not artificially inflated ones. As time goes by the costs of restoring these cars will rise along with the price of parts as they become harder to find in good/perfect condition.

The only issue will be people loosing interest in these cars and moving on to other platforms. With 2 million E30's built, easily 1/10 people in the US have ridden in one and remember someone who owned one. Might have even been a family member. Which means that there are a lot of people who might try to gain ownership in the future.

As for the Muscle Car bubble:
For a million bucks you can build almost anything. For $150k you can clone almost any muscle car you want. It won't be an original numbers-matching car, but for ~15% of the price you're left with very few buyers who think it's worth the premium.

[mr2peak]

Muscle Car values are starting to rise at the moment as well...

[Hansel]

Muscle Car values are starting to rise at the moment as well...

Practically everything is rising at the moment.

[mr2peak]

Fair enough. Everyone is citing the muscle car bubble, I think it's worth mentioning that as much as it burst, it's coming back. It might not be as strong but it definitly shows that there's inherent value; even if it might not be as strong as it once was, its still there.

[pandaboo911]

Note to self: buy late model vert before e30 prices skyrocket