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      04-03-2015, 12:29 AM   #1
NPVPositive
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1M prices

http://www.carsales.com.au/private/d...-2774730/?Cr=0

Can't believe this guy is still asking $130,000. Dreamin'. People can be so delusional!

I love my 1M, but it's a niche car that appeals to a small group of enthusiasts. BMW got greedy when they discovered that Australians would actually pay $110k for the car . . . they boosted the Aussie allocation from 100 cars to 300 cars, which was probably about 50 more than Australia's "natural demand". Canada is a good benchmark: they got 220 cars for a larger population of 35 million.

So in the UK (450 cars) and the US (740 cars) the 1M is now viewed as collectible and examples sell for more than the original list price. Meanwhile here we have a permanent oversupply of cars trying to find a home . . . . there are usually 10-12 on carsales.

What is the "clearing price" that most Aussie 1Ms actually sell for right now? My guess would be about $75k.
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Last edited by NPVPositive; 04-03-2015 at 01:42 AM.
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      04-03-2015, 12:57 AM   #2
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I think it's lower than that, there's one with <10k on the clock asking $77k and its been sitting for ages.
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      04-03-2015, 01:29 AM   #3
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Quote:
Originally Posted by 1q2w3e4r View Post
I think it's lower than that, there's one with <10k on the clock asking $77k and its been sitting for ages.
Yeah, you're probably right. Maybe $70k-$75k with a bit of variance between states depending on what's available in each market. Most people don't want the hassle of buying an interstate car, so each state is a "micro market".
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      04-03-2015, 04:58 AM   #4
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Quote:
Originally Posted by 1q2w3e4r View Post
I think it's lower than that, there's one with <10k on the clock asking $77k and its been sitting for ages.
This one is no longer for sale from what i can see
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      04-03-2015, 04:11 PM   #5
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