Quote:
Originally Posted by IEDEI
I think the M3 is a more mainstream car.
Stuff like the Z3/Z4, 1M, and even some 128s and 135s (manual, sport pkg) are more niche cars with very specific buyers. The average consumer sticks with the more well known mainstream cars while the more unique buyer is looking for something unique.
Dealers totally know this....and they market these as such. They are not afraid to let them sit for a bit because in the end they know the right buyer will find these cars.
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I follow the Z3/M Coupe market and those cars tend to sell quickly. There may not be a large number of potential buyers, but the market seems to be in balance, more or less, and there is a buyer for every coupe, just about, as long as the seller is not too greedy. There are several dealers for these cars who tend to charge very high prices, which to some extent they can get away with, but once their buyers try to turn the cars and sell them for what they paid (or more) they realize that without the "EAG" or similar moniker they can't get back what they paid out.
The M3 market appears to me to be the most dysfunctional, and also to have the highest percentage of heavily modified cars whose owners don't appear to be realistic about what they can get for them.
135i cars with lots of miles (for their age) tend also to be very overpriced, in my view, and as pointed out earlier in this thread. People regularly try to get in the high 20 and mid-30 thousands for these cars with several years of age and 50K + miles, when similarly equipped cars with less age and miles are asking the same sorts of prices. Makes no sense and explains to a large extent why these cars sit and sit and sit. When the sellers reduce the prices (usually by a small amount) and then flag their listings as "Price Reduced !!!) it looks even more ridiculous when the new asking price is still several thousand (or more dollars) over the real value of the car, when actual sales are taken into consideration.