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Looking for a clean 02 Turbo


Oliver

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Hi Guys,

Gearing up to buy a Turbo.

Pricing seems to be all over the place. Anyone know the true market value for a Turbo...recent sales etc?

I have noticed (from watching the values over the last 2-3 years) that Turbos are appreciating..which makes establishing a current market value darn near impossible.

Any help would be wonderful!

Oliver

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I know of 2 cars that have sold in the last 2 years ( these are cars I have direct knowledge of) that have been purchased for over $40k for one car and $30k for the other. Both cars have already had the engines, transmissions, brakes and suspensions completely rebuilt. One of the cars the engine block and head were damaged so badly they were unusable. Both cars are in good shape but by no means show cars. One has had some serious rust repair done previously (to a reasonable standard only) the other I have not inspected the chassis. The very first Turbo ( VIN 4290001) has been up for auction twice in the last 2 years and has not made the minimum bid either time (last high bid was just over $54k) this car is reported as a very good unrestored car but all I have seen are the pictures from the auction house cataloges.

Last summer I finished a 4 year restoration on my car ( I'm in the vintage race car restoration business and finding the time to work on my own car was tough. Hence the 4 years). It had almost no rust issues when I stripped it down to bare chassis so that was a very easy part of the job. Every part of the car was rebuilt, re plated, painted or replaced. The body was stripped to bare metal and repainted to the original color. I know how much time and money I spent on my car and I know I could not take either of these other cars and put them in the same condition without the owners being into them at least $75-80k total. I have seen some very nice turbos on the market (at least the descriptions and pictures look good) for $45-55k and some very rough cars with a lot of missing pieces advertised for $15-25k.

My recommendation is keep your eyes open, if you find something that looks good HAVE IT INSPECTED BY SOMEONE THAT KNOWS TURBOS!! Buy the best car you can find, money spent up front on a better car is "pennies on the dollar" compared to what you will spend trying to make that Rusty Turbo you just "got a great deal" on into that wonderful 2002 Turbo you have always wanted. I don't know if $75k is a good value for a completely restored Turbo but I know I could not build another one for that based on what I have seen on the market and the cost above and beyond the purchase price to go through everything again. I know there are a few owners that have spent way more than that to have a completely restored car.

1970 1602 (purchased 12/1974)

1974 2002 Turbo

1988 M5

1986 Euro 325iC

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2002ad has 2 turbos listed at the moment:

http://2002ad.com/pages/carsforsale.cfm

You will have to scroll down about 1/4. There is a "fully restored" one for $64k. I am not a turbo expert, but I would think that blending the flares with the body was a big mistake.

The other a little lower is a project for $17,900.

Scroll down further and they show one they recently sold for $31,500.

Not that I would buy anything there, but it might help you with the pricing.

Dieter

Current:

- 1970 Colorado 2002, 1982 323i, 1972 Porsche 914, 1956 Porsche 356A Coupe replica, 2003 Mini Cooper S

Past:

- 1980 320is Turbo, 1972 Malaga 2002tii, 1973 Polaris 2002tii, 1973 Sahara 2002, 1981 Alpina C1 2.3, 1989 M3, 1984 Hardy & Beck 327S

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Go to www.sports-car-restoration.com and look over the pics of my Turbos restoration. Pick up a copy of the 12/09 Bimmer and read the article on it. I am happy to hear that they are appreciating, but they have a hell of a long way to go before I come close to breaking even, but it's a hell of a car and very well done...If I do say so myself. Point is, as previously advised, buy the best car you can find. Long run, you will save money. So, care to save some money on a really fine Turbo;)...?

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And you cannot go wrong with an SCR restored 02!!! I have driven his car and it pulls strong from low rpm, very smooth and virtually no turbo lag due to the tweeks he has done to it. And the restoration work is top notch. If I were looking for a turbo, this would be the one I would want. I hate that Jack is selling it but it would not be around for us to see anyway.

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Getting a US car into Europe incurs a huge VAT tax (close to 20%).

The CA car that 2002AD had listed ($31,500) was probably well bought. I saw a really nice one in the UK that went for the equivalent of $37k. Not concours but what 2002FAQ folk would consider full restored but driven. I think that's where the market is ($30k - $40k).

The problem is that they come up so rarely. THere are a few that come onto the market regularly that are prices way over $60k, and I think these are owners who are just using ebay to gauge the market (smart guys).

John

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