Interesting blurb on shopping for an E34 M5 by Rob @ UUC

While digging around online as part of my recent E34 M5 obsession, I found this.

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What's so special about the E34 M5?

by: Rob Levinson | Created the 2002-02-14 16:14:25 (Updated the 2002-02-14 18:19:11)


E34 M5s, and particularly the 3.8 models, are not your standard "used car".

Book prices mean absolutely nothing. The very small sample space of M5 sales makes any attempt at meaningful blind price assessment nearly worthless. A 50% error margin is blurry beyond value.

With the rarity of these cars, each one has an individual value to be assessed. These are not "commodity" items like Honda lease returns where the availability of a silver '98 model limits you to "only" 50 examples within a 10-mile radius of your home, all within $500 of each other.

Likewise, the pool of potential buyers is small. It takes a particular person to appreciate the M5... at $30K+ for a car that is 8 model years old, it's certainly no bargain. Its charms are not apparent to Joe Average.

And that is something I prefer - Joe Average, in my book, is a walking air-waster without appreciation of the finer things. Leave Joe Average to his commuter module. I prefer the sort of person labeled as a "discerner" whose M5 is simply an expression of their general outlook on life... the person who asks "what, why, and how?" about everything around them.

"Gray market misconceptions" are indeed a hurdle to be overcome when a new potential M5 owner enters into purchase negotiations. There are indeed some issues that may or may not be resolved properly, but once again on a car-by-car basis. A particular car may be totally free of encumbrances, or may be stuck in Customs impound for many months (which is usually the buyer's fault for not taking reasonable precautions before importation).

I'll back up what Scott said on the subject... cars like these are worth $XX,XXX to the owner, and that counts more than what they are worth to a buyer.. Below that amount, there's no reason to sell. I have been spontaneously offered good money for my car on a few occasions already
and obviously turned these offers down. I'm simply not interested in selling, even for more than I have spent on the car.

A trip I took last weekend reminded me more than ever why I love the M5...comfortable, capable, and "more car" in performance, technology, exclusivity, and even utility than 99.5% of everything else on the road.

- Rob Levinson
'94 M5 Touring
http://www.robertlevinson.com/M5_Touring/

Ok, now I want one

...commuter module

That's good

Originally posted by bren
Ok, now I want one







That's good

I sent this blurb to my wife via email and she broke out laughing at the term "air-waster".

The same goes for E30 M3s. If you look up the KBB or similar used car value on the web, and compare to what they're going for these days, you will fall out of your chair.

A very low-mileage '88 M3 in "Excellent" condition (per Edmunds) is listed at $5500 private party. Most M3s in that condition will sell for much closer to $13,000 - $15,000, possibly depending on intangibles like service records and documentation. My guess is that most of these price services use estimated depreciation on cars like these, which sell in SUCH low volume that an accurate value is nearly impossible to derive.