Very nice Estoril/Dove on BAT

[m3f_97_4dr_5spd_m3]

Let's discuss it, other than M3forum's and BAT's, what other sources are you using for your price evaluations?



Sure, we've all agreed here for months now that the "rule" has increased, but unfortunately for the e36 their market of clean examples worth even $10,000 has fallen dramatically as well as the money (enthusiast market) that's capable of buying them.



I'm about to hop on a plane, but I'd be happy to break down my analysis and show my sources for why these cars can't move any higher/aren't worth the slightly inflated prices that we're currently seeing. Should be home Thursday evening and then I can enjoy writing a detailed response.



I still love these cars so I'd hate to come off as attacking your guys platform, it's just the real market data we're now seeing isn't supporting the values increasing, but again more importantly, the market buyers are drying up quicker.



The Estoril here sold for less than anyone I talked with, thought. This was a near perfect example, minimal TLC, mostly clean, and probably the ideal color combo/year for most of us still in love with these cars. It's great someone emotionally bought it for a price they assumed no one else would touch for a sight unseen car, but if anything, this cars sale puts some sense back into the market.



Cheers,

Chasen





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Generally for years now the only place to get a well-cared for E36 M3 has been through a private sale. With a private sale you're likely to get an enthusiast's car. Through a site like BAT you're likely to get an enthusiast's (at least a "car guy's type) of car. There's a premium to be paid for buying a car that was owned by someone that is an enthusiast.



You cannot really take forums and BAT out of the equation when talking prices. If I was to buy another E36 right now I would know that if I went to a random dealership I would probably be buying a rat. We are talking 20 year old cars.



Currently on Autotrader there's 103 E36 M3s for sale.

38 fall in the range of $0-$10,000

36 - $10,000-$15,000

15 - $15,000-$20,000

9 - $20,000 - $30,000

7 - >$30,000

(apparently two of the cars fall right on one of these ranges - hence count of 105).



These car's sweet spot is currently $12-$14K (as agreed upon mostly universally by the $15K rule). There's just as many <$10K as there are $10K-$15K cars.



I am not saying that we are all going to be seeing Porsche 911 windfalls here - just saying that all things considered - if you have a lower mileage clean car - or an enthusiast owned well-cared for and OEM/OEM+ type car - you are doing better than you were a few years ago - apples to apples.



Would like to see what you have for an analysis though for sure.



Thanks.

[m3f_Cha5en]

Agreed with the last paragraph, that's always going to be the case, having the "unicorn" car, which now with their age, unicorn maybe that silver on grey low mileage garage queen, but the market buying them has slowed down (will share when I'm back in my desktop) and we're seeing them take longer and longer to sell. Take autotrader prices with a grain of salt, as the industry floods these sites with cars that's aren't actually for sale, or leaves them up months after they sell, adding frustration to buyers, and messing with our data to compare with.


My projections have more to do with defining the market consumer, rather than evaluating the cars them self, as cars are as only valuable as the market can actually afford. In this market we're usually looking at cash sales, so if we can match up the demographics/generation of the buyers, we can hypothesize the buying power of the market, which I'll try to explain with my explanation later this week.


Great discussion, though, been looking forward to real talk here!


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[m3f_RND1]

Interesting discussion.


This comment below is from BAT for an '88 M3 just listed:


"Anyone else remember the “$15k rule” from S14? Makes me wish I had borrowed $60k back then and kept 3 of ’em until 2017. Scary how these icons have appreciated so quickly."


No one thought the e30 M3 would ever be selling for $40K - $50K+ until the first one did. Not saying the e36 M3 will ever get there (prod numbers blah blah), but no one can see them selling for $25K to $35K+ until they do. I think this car we're discussing will prove to be a solid buy.

[m3f_JohnGibson]

This is just what my experience so take it how you will. First, something is only worth what someone else is willing to pay for it. If a car is sold for X amount of money that doesn't necessarily mean one comparable will sell for the same. Not everyone is willing to pay for that premium. It also depends on location. I've seen locations where these e36 M3 will sale for $6-12k, 12k being well maintained with low miles. Now to "you"$12k might be a good price for a low mileage (under 100k) but to someone else who has other interest might think that's a bit much. Again something is only worth what someone else is willing to pay for it and there are not many willing to pay a premium.