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View Poll Results: What is my 4,800 mile black 1M worth? | |||
Less than $60K | 7 | 12.73% | |
$60-$65K | 10 | 18.18% | |
Over $65K | 12 | 21.82% | |
Are you nuts? Keep the damn thing. | 26 | 47.27% | |
Voters: 55. You may not vote on this poll |
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09-30-2017, 06:55 PM | #1 |
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What is it worth?
Thinking about selling my 1M. Obviously the easiest is to a dealer. Still, I'm curious, what a "fair" price is for it.
Stats I'm the 2nd owner (bought with 200 miles) No recalls Perfect condition 4,800 miles Black - all options except Sirius radio Stored winters - crap, stored all the time. Curious what the board thinks...
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10-02-2017, 10:26 PM | #2 |
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Call EAG and see what they would give you for it. I've found them to be pretty reasonable buying cars like ours.
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10-03-2017, 08:58 PM | #3 |
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my response was the obvious answer.. Are you nuts? Keep the damn thing.
I checked for the value of my own vehicle for fun by calling my credit union. They said they would loan up to 54K for my 32,000 mile stripper in BSM that originally retailed for 46K. So.. with just 4K original miles.. your car is ABSOLUTELY worth in excess of the value of any M2.... what's a maxed out M2 go for... around 62-63K? a 4K mile 1M is a better buy than a brand new M2 if one doesn't need a warranty. I personally am not a fan of EAG.. but agree with the other fellow that they will make you a valid offer. They will probably offer you 65K and then put it on their sales floor for something like $89K. |
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10-04-2017, 11:43 AM | #4 |
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Drives: e82 1M, f87 M2cs
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Nice example. I vote keep it.
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10-06-2017, 11:25 PM | #6 |
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Thanks guys -
I brought it to a friend of a friend who really wanted it and offered me $60. I told him (prior to his offer) that I start listening at $65 and am sold for sure at $70. After he offered $60, I really did NOT want him to offer $65 as I just don't think I could let it go for that. The car is special. Back to storage for the winter!
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10-08-2017, 12:48 AM | #7 | |
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10-08-2017, 10:56 AM | #8 | |
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Drives: e82 1M, f87 M2cs
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Mine is moderately modded with obvious signs of track use and 48k miles. I probably couldn't get 45k for it, and I know that. I am using the car as intended, and for that reason, despite knowing it's value as is, I couldn't let it go for 65k. What would I spend that 65k on that I would love as much? |
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10-11-2017, 07:48 PM | #9 | |
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10-12-2017, 10:51 PM | #10 |
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If you are not driving it you are losing money on it. Unless you live in a state with 0 property tax and discount value of money to 0.
Even if you paid cash for it, paid no tax on it, simple investment in treasury bond would give you more what you could fetch for it now... Drive the damn thing, it costs you a fortune in $/mile. It's not a freaking Ferrari it won't fetch a mil down the road. Heck, you could have gotten a better "investment" from an old e39 m5. |
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10-13-2017, 12:35 PM | #11 |
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List Price >$60k
Sale Price <$60k Collectors will probably want an even lower mile 1M and will pay high $$ For the common person that wants to drive your 1M at a high sales price, the car will depreciate like a rock if they put 5k miles a year on it as opposed to a 30/40k mile car bought for much less. |
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10-24-2017, 06:28 PM | #12 |
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I would hold on to it. You aren't making money on it anytime soon but I suspect in the western hemisphere at least we will see a spike in prices starting in 5 or so years. Its not a Ferrari as others have said so you cannot expect a large return on it in the long run but the car will have substantial value down the road. Will it be worth it when equating taxes (state dependent) and maintenance. Don't know. Probably but not by much.
I have been looking at some 60s-70s muscle cars and continuously watch the worth of the nsx. To my amazement cars in the 50-75k miles get a pretty penny. In particular even the nsx at or above 100k still brings in a good deal of money. Granted what is advertised and what something sold for are two very different things yet still the cars do quite well and I suspect this will continue for the next decade plus depending upon where cars are going. The 1M is a rare (this side of the Atlantic at least) unique car both in performance for today's bmws and in appearance. I think if you feel strongly about this statement it is worth keeping the car even if your heart desires others. If not move on and get ride of the car. Ultimately you are in a win win situation when it comes to selling your 1M be it now or in a decade. |
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10-26-2017, 02:04 PM | #13 |
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Funny story
So I reached out to two Porsche dealers about 2017s they had in stock. Both were over a year old in inventory. One dealer in Michigan, the other in Maryland.
First dealer in MI I mentioned that I'd be interested in trading in my 1M but was in Chicago. He said "Ok, I'll get my 911 washed, you drive up here and we can negotiate. If don't come to a deal, then at least you have a nice drive in the fall" I asked him if most of his buyers were idiots and did he really think I would have a strong hand in negotiating after driving 300 miles. Next dealer in MD sent over a buyers order $126,000 one year old (still new) 911 discounted down to $120K Trade on the 1M of ... wait for it... $41,000 BUT HE INCLUDED SHIPPING ON BOTH CARS! Out of pocket $80K. I told him that I wasn't sure if his offer was funny, insulting, or both and that I'd reach back out in the spring to see if he still had the car. Wow - Wow Wow Wow.
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10-26-2017, 04:01 PM | #14 |
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Didn't they all have recalled airbags?
Local dealer said he sold two white ones this summer for more than what they originally sold for. I don't know anything about mileage. I finally got allotted an airbag replacement! maybe I'll ask what they think it's worth. I just don't think it matters to me at this point because I couldn't sell it. |
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11-14-2017, 08:45 PM | #15 | |
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11-15-2017, 12:24 AM | #16 |
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11-15-2017, 07:32 AM | #17 |
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Private resale - I would not take less than $67 If you got $70, that is not unreasonable for exceptional car. You would do worse on trade, guessing best you would get is $64
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