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Old 09-19-2018, 03:05 PM
WildKarrde WildKarrde is offline
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What Should the Cheapest Running E28 M5 Cost Nowdays?

I know a guy with a running '88 M5. I drove the car about 2000 miles a couple years ago, and it was utterly fantastic back then.

Since then, it changed hands, stopped running, and was left under a tree until very recently. It has now ended up back in the hands of the person who owned it 2 years ago, and he has it running again. Based on what I know about him and his cars, I can assume it is in relatively good mechanical order.

Cosmetically though, it's a **** show. Easily $10,000 - $15,000 just to get it back to decent looking condition. It will require mostly minor body repair with ding removal, and maybe a softball to basketball size of metal that needs to be replaced on one of the rear quarters. (Or maybe it's perfectly fine, I'm not sure). Paint needs to be completely redone. The clear coat is almost entirely gone, where it is not gone it is peeling badly. It looks like a $500 hoopdi. Needs a new dash board, and the rest of the interior is probably a little above average for a car with 250,000 miles on it... which is about what this one has.

I'm strongly considering making him an offer. I know the concourse level cars are around the $100,000 price range, which I could never afford, but this one should be worth considerably less. The question is though, how much less? Hagarty says a fair condition car is worth about $18,000, but I know from experience these websites aren't always accurate.

Does anybody have some advice on this? I'm prepared to offer him somewhere in the $16,000 - $20,000 range, which is about all I could realistically afford for a car I'll almost never drive. Based on the cursory conversation I had with him though, he's currently thinking it's worth more in the $30,000 range.

If anyone has examples of cars in similar condition, or at least examples of what a sub-$20,000 '88 M5 looks like, I'd appreciate it. I haven't seen one for less than about $50,000 in quite a while, but they are also in much better condition. So while I really don't think the car is worth $30,000... I have nothing to back that opinion up with.
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Last edited by WildKarrde; 09-19-2018 at 03:12 PM.
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