I picked up my car from EAG.

[slammin.e28]

The value of a car is what someone is willing to pay for it.

NADA and KBB only work for late model shitboxes, not enthusiast cars.

[rturbo 930]

No, I'm just saying what the value is.

So you are suggesting it's only worth $7k or less.

I really don't think you understand how values work. If supply goes down, demand goes up, then prices go up. A low mileage, near-mint condition, factory original E30 is a rare car now. And, E30s are becoming fairly desirable. Therefore, prices goes up. The same thing is happening with aircooled 911s, but to a much greater extent, as well as a lot of other classics. A lot of older, desirable cars have been going up in price of the last few years.

And just because NADA says it's only worth $7k doesn't really mean it's worth that. It's only a guideline, and it applies more to newer cars than it does to classics.

Another thing I don't think some of you have considered - OP is probably making a pretty good income, and he's made it pretty clear that his time is limited and valuable. I'm guessing he can make more money at his job, while he pays someone else to do the work for him, than he would otherwise be saving if he were to do it himself. If that's the case, it actually makes more sense for him to pay someone else to do the leg work. I also don't get the sense that he enjoys working on cars, either, nor having to track one down to buy.

[jim87]

The value of a car is what someone is willing to pay for it.

NADA and KBB only work for late model shitboxes, not enthusiast cars.

Nada classics goes to 91 and lower and shows the value for high retail which technically this car does not meet...



And if value is what ONE person will pay, then I'm selling my Rolex for $3.56 million. I'm sure there is some crazy rich oil tycoon who will pay that just to have it. Anyone who says its worth less is obviously an idiot, right?

[slammin.e28]

Nada classics goes to 91 and lower and shows the value for high retail which technically this car does not meet...



And if value is what ONE person will pay, then I'm selling my Rolex for $3.56 million. I'm sure there is some crazy rich oil tycoon who will pay that just to have it. Anyone who says its worth less is obviously an idiot, right?

You can ask $3.56mil.....if someone pays great. If someone offers $2.5mil....are you not going to take it?

This is EAG.

[jim87]

So you are suggesting it's only worth $7k or less.

I really don't think you understand how values work. If supply goes down, demand goes up, then prices go up. A low mileage, near-mint condition, factory original E30 is a rare car now. And, E30s are becoming fairly desirable. Therefore, prices goes up. The same thing is happening with aircooled 911s, but to a much greater extent, as well as a lot of other classics.

And just because NADA says it's only worth $7k doesn't really mean it's worth that.

You are right, but a 100k mileage 318 in worse condition can be had for $3000and less all day, e30 supply is not going down as much as you think, they are as plentiful as fox body mustangs. Clean unmolested ones are becoming more rare yes, but not $20k+ rare for a 318is. its JUST an e30 guys, its not THAT special.

You can ask $3.56mil.....if someone pays great. If someone offers $2.5mil....are you not going to take it?

This is EAG.

So... are you offering me 2.5 mil? pm me....


And by that logic what ever one person will pay for something is the value of it? I don't think that is correct sir.

[reelizmpro]

It wasn't too long ago they also listed the M3 as a 7K car. NADA, Kelly are now following the enthusiast market when it comes to older collectibles. I realize the 318iS is no M3 but many people hold it to a high regard as well and they were also produced in limited numbers. I'm not even a 318iS fan but the reality is...people value different things and that's their right. I would not pay $23k for it but I understand why someone would. So to say that someone overpaid is really subjective. I love a good discussion about these cars but many posts in here are just sour grapes. One day hopefully, you will all grow up and maybe then it will make more sense.

[rturbo 930]

Clean unmolested ones are becoming more rare yes, but not $20k+ rare for a 318is. its JUST an e30 guys, its not THAT special.

That's subjective. For you, obviously $20k is too much. For the OP, it must have been worth it, or he wouldn't have bought it.

[Javier h]

33k for an 1987 325is

It depends really on what you want and how much you are willing to spend.

fyi

[jim87]

It wasn't too long ago they also listed the M3 as a 7K car. NADA, Kelly are now following the enthusiast market when it comes to older collectibles. I realize the 318iS is no M3 but many people hold it to a high regard as well and they were also produced in limited numbers. I'm not even a 318iS fan but the reality is...people value different things and that's their right. I would not pay $23k for it but I understand why someone would. So to say that someone overpaid is really subjective. I love a good discussion about these cars but many posts in here are just sour grapes. One day hopefully, you will all grow up and maybe then it will make more sense.

Correct.

To say someone over paid based on their personal opinion is not right.


But to say someone over paid compared to the actual value is not subjective and is right.

Personal opinion on value and what ONE person will pay is NOT the actual value of something. I think that has a lot of people confused here.



Ex.
My car is clean low mileage 01 boosted Mustang Bullitt, pretty rare actually more rare with the color combo than any 318is, in no way is it WORTH $20k, BUT some idiot mustang fan might give me that based on his personal opinion on what he would pay for the car.


That's what EAG does, they don't use the actual value, they use a ridiculous amount that some random idiot with a lot of cash might pay and their cars sit until that guy comes along. That interns starts arguments and makes more idiots start thinking their e30s are worth so much when really they aren't. Next thing there will be people with rebuilt engine 325is's asking 12k because its an e30. IMHO normal e30s are a $500-5000 car, now if one is very low mileage, unmolested and clean then maybe upwards close to 10k, but if I'm going to pay over 10k for an e30 it better be the most amazing 25 year old mediocre car ever. People are starting to think these cars are so special and super rare when I see 12 a day going down the highway.

That's subjective. For you, obviously $20k is too much. For the OP, it must have been worth it, or he wouldn't have bought it.

I agree, but that does not mean that's the value of this car.

[agent]

33k for an 1987 325is

Sweet. Same color as Klaus too.

[slammin.e28]

So... are you offering me 2.5 mil? pm me....


And by that logic what ever one person will pay for something is the value of it? I don't think that is correct sir.

It's the value of it to them.

It's worth it to OP to not dick with restoring a car.

It's worth it to OP to not have to dick around finding a car.

It's worth it to OP to have a low mileage, all original example.

You know, it's kinda nice to see them going up like that. No, mine isn't going to be worth near that much, nothing on it is near original. No, I'm not going to pay that much for one. BUT, for OP, it's totally worth it. He got what he wanted at a price he wanted to pay for it and he is HAPPY with it.

/done.

[jim87]

It's the value of it to them.

It's worth it to OP to not dick with restoring a car.

It's worth it to OP to not have to dick around finding a car.

It's worth it to OP to have a low mileage, all original example.

You know, it's kinda nice to see them going up like that. No, mine isn't going to be worth near that much, nothing on it is near original. No, I'm not going to pay that much for one. BUT, for OP, it's totally worth it. He got what he wanted at a price he wanted to pay for it and he is HAPPY with it.

/done.

Exactly, couldn't agree more on personal opinion. BUT just because one person thinks that car is worth it and will pay for it doesn't mean that's the actual value of it its just personal opinion. It means he over paid based on the actual value, if he feels fine paying that much then cool he got what he wanted but the car should have been priced around half that and I'm quite sure he would be much happier paying 12-13k for that car rather than 23k.... Especially if he ever tries to re sell it and cant find another guy with that much money to blow on an overpriced car.

[rturbo 930]

My car is clean low mileage 01 boosted Mustang Bullitt, pretty rare actually more rare with the color combo than any 318is, in no way is it WORTH $20k, BUT some idiot mustang fan might give me that based on his personal opinion on what he would pay for the car.

It might be rare, but it's a 14 year old Mustang. Yeah, you can make the argument that an E30 is just an old BMW. Some people would disagree. That's why this whole thing is subjective.

That's what EAG does, they don't use the actual value, they use a ridiculous amount that some random idiot with a lot of cash might pay and their cars sit until that guy comes along.

I'm not sure since I haven't dealt with them, but I think EAG does more than just sell the cars for stupid prices. I'm guessing they locate them, bring them back, probably clean them up, and they likely go through them and do some maintenance as well - so that the buyer doesn't have to. That's their clientele - guys that have money, and don't want the deal with a project. They know what their time is worth, and they're willing to pay extra to avoid the headache.

I agree, but that does not mean that's the value of this car.

Seems EAG is selling cars, so I'd have to disagree with you. Once you start getting enough people to think it's worth a certain value, then it does mean that that is the value of the car. You can't really say a Ferrari 250 GTO is worth only 5 million anymore.

And I'm just gonna reiterate this because I don't think anyone saw my edit. I think this is a lot of OP's motivation for paying so much:

Another thing I don't think some of you have considered - OP is probably making a pretty good income, and he's made it pretty clear that his time is limited and valuable. I'm guessing he can make more money at his job, while he pays someone else to do the work for him, than he would otherwise be saving if he were to do it himself. If that's the case, it actually makes more sense for him to pay someone else to do the leg work. I also don't get the sense that he enjoys working on cars, either, nor having to track one down to buy.

[agent]

just because one person thinks that car is worth it and will pay for it doesn't mean that's the actual value of it

Yes it does. It's the value of his car. To him.

[jim87]

Yes it does. It's the value of his car. To him.

Value of a car based on personal opinion is not the actual real world book value of a car.


I say the value of my e30 is 6 million, you all call me an idiot but based on your logic that must be the value because that's what I feel it is.