The Official Bring A Trailer (BaT) Thread

[maw1124]

https://bringatrailer.com/listing/2002-bmw-m3-convertible-140/

This should be interesting... paid $23k in the "irrational exuberance" of 2022.

I'm seeing some of what Slideways is pointing out. I'm keeping my eyes out for a couple of items but not the GT3. A buddy just picked up a '24 RS6 for a steal out of AZ for this very reason, and I have a line on one in CA. A fair amount of "bought high, selling low" going on.

maw

[Slideways]

How long before 997.2 GT3 prices are back down to sub-$100k??

It seems like a quite a few people bought these high performance cars and are not using them. Eventually, when there are many used ones to choose from, like it was a few years ago, you should be able to get one for a reasonable price.

[SQ13]

How long before 997.2 GT3 prices are back down to sub-$100k??

[PetrolM3]

Even gt3 prices are finally coming down and my beverly hills porsche salesman stated he was sad about this six months ago, now worse and continuing which is great.

People are ignoring the white elephant in the room or perhaps just willfully ignorant.

The elephant sure grew over the past year. Those who were able to turn a blind eye can no longer do so - the room is getting smaller and smaller.

[maw1124]

Even gt3 prices are finally coming down and my beverly hills porsche salesman stated he was sad about this six months ago, now worse and continuing which is great.

People are ignoring the white elephant in the room or perhaps just willfully ignorant.

The question is down from where? Sure G63 prices are down from when Benz dealers were charging $75k OVER MSRP. But should that price level be a benchmark for anything?

For those missing the thread, that was the "irrational" part of "irrational exuberance."

maw

EDIT... that Hagerty data doesn't really fit the headline to me... see below... the trick is to buy below the line, not above it.

[jet_dogg]

Agreed - that seems like a great deal.. probably in part due to car being in Canada, despite US market origin. It probably would have fetched another 5-10K if it were in the states.

Either way, it's becoming more and more clear that the market is going through a serious adjustment based on the sale prices we've been seeing. Continued increase in cost of living is making unnecessary purchases either impossible or difficult to justify for most people. I've been selling left over E46 parts online (Kijiji - Canadian version of Craigslist) for the last few years and there is a SIGNIFICANT slow down in demand and interest, even with some very nice and unique parts which would have sold like hot cakes a few years back). Time will tell just how far this will go...

Even gt3 prices are finally coming down and my beverly hills porsche salesman stated he was sad about this six months ago, now worse and continuing which is great.

People are ignoring the white elephant in the room or perhaps just willfully ignorant.

[maw1124]

I respectfully disagree - no brand is immune to the current market conditions. Some are more impacted than others but none are unaffected. This is from Hagerty but pretty much every expert in the field is stating the same and these are not opinions, they are facts based on sales and prices....

https://www.hagerty.com/media/market...-slow-retreat/

Macro v Micro, but I hear you.

As a gross generality from a high level, yes, car markets are down. I'm more interested in certain cars than gross market conditions.

Clearly there are now deals to be had whereas a year or 2 ago there were none. I consider this normal ebb and flow of economic cycles.

maw

EDIT... beyond the headline, this from Haggerty article ... "The Market Rating has dropped 19 of the 22 months since its 78.22 peak in the summer of 2022, to its lowest value in three years. That said, its current value of 65.41 is still higher than any point in the four years leading up to the Market Rating’s most recent surge." ... says more or less "irrationally exuberant markets have become rational, but they are still pretty exuberant."

[SQ13]

Looks like this guy was the 2nd bidder who won the car. It popped up in my recommended feed on YouTube.

https://youtu.be/si3inmSJ_Xc?si=kSNVWsqlxXnDMnS4

From what I’ve seen, he drives his 997.2 GT3RS a decent amount and “shares” the car with others. There are vids of him letting kids sit in it and rev it. So yeah kinda a dumb purchase IMO, but I do think (hope) the M3 went to a decent person who will actually drive and share it.

[PetrolM3]

The E46M market, sure. The air cooled Porsche market, pre-Merger AMG market, Benz 500E markets, not so much.

For this market, 88Thousand examples was always going to keep the roof on, as well as Black and Grey interiors, has been my rather consistent view. Irrational exuberance has gotten rational but it's still exuberant. Over half of MSRP for these cars 20+ years on seems pretty strong to me.

People are still buying them "just because I've always wanted one" which doesn't seem like a cost of living concern to me.

maw

I respectfully disagree - no brand is immune to the current market conditions. Some are more impacted than others but none are unaffected. This is from Hagerty but pretty much every expert in the field is stating the same and these are not opinions, they are facts based on sales and prices....

https://www.hagerty.com/media/market-trends/hagerty-insider/the-collector-car-market-continues-its-slow-retreat/

[maw1124]

The E46M market, sure. The air cooled Porsche market, pre-Merger AMG market, Benz 500E markets, not so much.

For this market, 88Thousand examples was always going to keep the roof on, as well as Black and Grey interiors, has been my rather consistent view. Irrational exuberance has gotten rational but it's still exuberant. Over half of MSRP for these cars 20+ years on seems pretty strong to me.

People are still buying them "just because I've always wanted one" which doesn't seem like a cost of living concern to me.

maw

[PetrolM3]

Meanwhile, deals and steals are being had...

https://bringatrailer.com/listing/2004-bmw-m3-coupe-184/

What would it have brought with a Cinnamon or Imola interior? $40k including fees?

In the US, that is...

maw

Agreed - that seems like a great deal.. probably in part due to car being in Canada, despite US market origin. It probably would have fetched another 5-10K if it were in the states.

Either way, it's becoming more and more clear that the market is going through a serious adjustment based on the sale prices we've been seeing. Continued increase in cost of living is making unnecessary purchases either impossible or difficult to justify for most people. I've been selling left over E46 parts online (Kijiji - Canadian version of Craigslist) for the last few years and there is a SIGNIFICANT slow down in demand and interest, even with some very nice and unique parts which would have sold like hot cakes a few years back). Time will tell just how far this will go...

[maw1124]

Meanwhile, deals and steals are being had...

https://bringatrailer.com/listing/2004-bmw-m3-coupe-184/

What would it have brought with a Cinnamon or Imola interior? $40k including fees?

In the US, that is...

maw

[stephen]

I used to eat, sleep, and breath e46 m3’s - but have been out the game for a couple years now. It’s wild to see what prices have reached for these things. Been wanting to try out an f80, but now I want to come back home lol. Hopefully my 996T sells soon!

If you’ve even been considering another E46 M3 then the F80 will be a disappointment.

[Deen HK]

I used to eat, sleep, and breath e46 m3’s - but have been out the game for a couple years now. It’s wild to see what prices have reached for these things. Been wanting to try out an f80, but now I want to come back home lol. Hopefully my 996T sells soon!

[Nate047]

It's funny to watch this video cause the ultra special, one of a kind, impossible spec car just looks like... an M3? lol

I guess I really do not understand these collectors

Hey look a douchebag in Miami spending money on something stupid how weird