VO VT47835 salvage for sale

[LukeM3]

Car did not sell at auction yesterday. It is scheduled to go up for auction on the 6th of Feb. again
Jkoral, financing shouldn't be a problem, I know many financial institutions that borrow money for salvage/rebuilt title cars as easily as they do for new and used clean title cars. I think it's the stigma that salvage/rebuilt carries with it.
As Marc noted above $63k ACV is ludacris. That number is based on a clean title never wrecked vehicle.
We all know Glassoman did a top notch job, but that car will always have that kiss of death salvage/rebuilt title, that lowers it's selling price immensly.
You guys ever try to trade in a salvage/rebuilt title vehicle? You better have thicker skin than a rhino

[LukeM3]

For those interested the car faired much worse today than it did at auction last week. Today the highest bid fetched $21,300 to someone from Armenia. Not a good sign.
So what does this indicate?
What I take away from this is that purchasing a wrecked/salvage 1M to fix and flip (pardon the pun) for a profit is a no-no
If you're going to go that route you'd better be prepared to buy/fix and keep

[bdaddylo]

It's unfortunate that the car really wasn't totalled as the salvaged 'kiss of death title' suggests.

[cooler2442]

I can see this going for 40k or so on ebay if he decides to put it there with all the documentation that it was properly fixed.

[NYBulldog]

The problem with fixing these cars down to the detail and trying to sell them later is that you simply cannot be compensated for the amount of labor you put in unless you got the car for dirt. They may be a collector car but whether fixed so perfectly or not, that's just not gonna happen. Seller may be better off selling to overseas customers. Owner needs to find comparable non-rebuilt 1Ms for sale with similar mileage to be able to make a serious price comparison.

[LukeM3]

Car goes back up for auction at Copart on the 13th. We'll see what it fetches this time. See you on the 13th.

[LukeM3]

The car was bid up to $32,500 to what seems like the same buyer from Armenia who has bid on it in the past couple of weeks and been the highest bidder

What strikes me as odd is where are all the forum members that are looking for a 1M and have sung such high praise of Glassoman. Would this not be what y'all are looking for?

I see a BSM on eBay for $42k but that one has a history that has been discussed here on the board and it doesn't seem worth touching (owner admits to buying it to flip)

So I guess the market has spoken and a salvage/rebuilt 1M is in the low 30's
Even though (member here) Dan Parker had a clean title 1M but needed an engine transplant, it too initially had very few takers at $36k

[bmwmck]

Wow Glassoman really did a great job.

[jvmax]

tough market this time of year, has the demand for the 1M dried up?

[LukeM3]

Looks like the car is up for sale again, this time on eBay, and cop a load of this, this time they're asking $52k as the Buy It Now.
I'll let y'all decide, most of you know the history on it by now.

[Jay-K]

glassoman55 deserve respect..

[az1M]

Wow, that is a really impressive job.

[LukeM3]

Looks like its up for sale (again), but this time the dealer is running the sale thru Copart (again). It was on eBay a couple of weeks ago (but obviously didn't hit the reserve). This time the Buy It Now is $47k (way too steep).

[GreenLantern]

I really wanted one of these rebuilt salvage 1M's, but the asking price definitely has been a bit too hefty for my taste given the kiss of death on their records.

Here's the same car mentioned in this thread: http://www.carwashcarsinc.com/2011_B..._181792282.veh

But yeah, it's up on Copart with a Buy It Now of $47k as LukeM3 mentioned. Likely because it's being billed as the final US-spec 1M (which it is).

I'd gladly pick up one of these that isn't #740, provided the price is significantly lower.

[Dee Pee]

There are two BSM no-option models on eBay pushing 60k and one VO (Puerto Rico) for 55k just in case anyone is still looking for a car.

[LukeM3]

Yeh, I'm with Greenlantern on this. For a salvage title car (which means BMW won't touch it no matter what warranty issues come up) the prices are just way too high. When Glassoman had the Buy It Now of $40k on his at Copart that was more reasonable (but remember it was only bid up to $32.5k -so the market had spoken).
Maybe as we get closer to the end of the year prices will come down in the winter and I've got a dealer friend that's getting me dealer wholesale and dealer trade in numbers, so that'll be interesting to see

[GreenLantern]

Indeed. For exactly the points you made, I'd say depending on the mileage and options, I'd be willing to pick one up (or two?) for $30k - $35k. Any more is way too much (and far too hopeful for the seller).

[LukeM3]

As expected it didn't sell. I guess the seller thinks if it didn't sell at $47k last week, it'll sell for $48k next week (I'm not making this up, that's what the buy it now is).
I'll let y'all propose your own theories.

[GreenLantern]

Originally Posted by LukeM3

As expected it didn't sell. I guess the seller thinks if it didn't sell at $47k last week, it'll sell for $48k next week (I'm not making this up, that's what the buy it now is).

Wow, no kidding. At or around new 1M MSRP for repaired car with a salvage title and over 10k miles.

It's not worth more than $35k, in my opinion. In fact, I would buy it for $35k.

[FIRSTM]

Originally Posted by LukeM3

As expected it didn't sell. I guess the seller thinks if it didn't sell at $47k last week, it'll sell for $48k next week (I'm not making this up, that's what the buy it now is).
I'll let y'all propose your own theories.

if he did sell it at $48k, then the 1M will be in the history book as the only salvaged car to be sold more than it actually cost brand new.

[GreenLantern]

Originally Posted by FIRSTM

if he did sell it at $48k, then the 1M will be in the history book as the only salvaged car to be sold more than it actually cost brand new.

I would be so incredibly surprised if it sold anywhere near that. Especially since for an asking price of barely $6k more, you'll get a clean title car (granted, with more miles, but still, clean title + no accident is worth much more than some miles). And that's just asking... those cars have been on the market for almost a month now.

[FIRSTM]

I agree, it needs to drop at least -10k more lol