engine and drivetrain Car Values

[cbgii]

I'm curious about what people on the site think about current '02 values. NADA has a low of $10,150, average of $14,300, and a high of $25,100. Most of the ones on EBay seem to be under $10,000 with an occasional mint(ish) one closer to the high. The ones on Hemmings and BMWCCA seem closer to the NADA values. So for a well sorted 1973 with a relatively stock set up (though it has a Weber carb, Bilsteins front and rear, and a transmission from a '76), 150k miles, some rust that has been chased and cleaned up, new front side panels, one small crack in the dash that has been repaired, and re-stuffed and re-covered seats front and rear, what's a generally reasonable price?

[ziff73]

I personally think that the market will be starting to climb a bit for our cars, no matter how hard we fight it. Let's face it, these cars are kind of a 'poor man's collector'... There are so many out there that people bought or found on the cheap and aren't financially able to properly restore/repair them that the entire market stays below what it 'could be'.. A lot of the other cool cars from this era that are fairly expensive, are, by and large, kept in better condition. Now, with that said, I'm not comparing these cars to the creme of the crop of auto history, but they really could have a better market value than they do. edit* Also, you don't see (for the most part) the old classic european cars being riced out and 'restored' with crap materials, either.. I really think that tarnishes the 02's image. In no way am I knocking people's individual tastes for car modification or financial inability to properly restore. I'm sure things I do, or have done, would offend some.

There are some awful examples that people try to get good money for, and that obviously doesn't help us much at all...but, on the flip side, there are a few select people on this board that love to say every single car is worth a couple hundred bucks, no matter what the condition...it's a bit absurd, and I think they must know this.

Sorry, I haven't been much help, but based on the two pics of your car, there is no possible way to assess its value. Really, it needs to be seen in person by a qualified 02' nut.. It's way too easy to show pics that don't really show the problems...

Rant over...;-)

Stephen

[cbgii]

Problems? What problems? I am planning on getting it appraised soon by a qualified appraiser.

I'm really more interested in what people think about the prices generally and the ones on NADA that are so much higher that what I'm seeing on EBay.

[Scott Sislane]

I'd look at real life selling prices and not what NADA says, who knows where they get their data on old cars. There's plenty of sales on ebay to ge a feel for what they sell for.

Cut the 320i loose and keep the 02! 8-)

[jerry]

i'm happy to throw my opinion out since you asked....

if the engine bay and interior and trunk is as clean as the exterior and the car is water tight in the rain (no dampness in the carpets), i'd value the car north of $8K.

if i saw overspray in the engine bay or tired rubber gaskets and worn interior i'd adjust downward.

if i looked underneath and saw a clean well maintained suspension and underbody i'd adjust UPWARDS.

if i had any reason to suspect quicky rust repairs.... down, down, down

[mike472]

Anyone seen the latest from the Roundel? A fellow got $37,000 for this tii that Jamie Kitman owned! I don't think his ownership really drove the price. It was a nice car rated 2+ condition.

http://bringatrailer.com/2012/10/15/bat-exclusive-preserved-34k-mile-1973-bmw-2002tii/

On the right day with the right crowd no one knows how much a decent car can command. You've seen some feeding frenzies at the major car auctions where emotions run high and people pay ridiculous amounts of money for seemingly pedestrian cars. This cannot be considered the norm. However, there is no doubt in my mind that our precious cars are going up not down in value and maybe in a big way. This is pretty amazing.

[PaulTWinterton]

I'm not taking any chances.

With book values low, and parts/repairs/restorations high, it's dangerous to drive an 02 without properly adjusted insurance.

In our province, we are able to get "collector" plates for our vehicles at a reduced insurance rate, approx $240 per year, for pleasure use only. BUT that only gets you book value if your car is totalled. They have a secondary program called "agreed value". I estimate the replacement cost of my Tii at $28K. They approved my evaluation and for an extra $140 per year I am assured to receive $28K if the car is totalled in an accident.

Now I'm happy!

[Mike Self]

they're not worth what they're bringing these days--as a fun car to drive (vs a garage queen/everywhere on a trailer) a 2002 is "worth" a lot more...

mike

[Guest Anonymous]

I've been using this:

"Collector Car Market Review Value Report

1972 BMW 2002 4cyl 1990cc (98hp SAE) 4M

#5 #4 #3 #2 #1

Bauer 2dr Convertible 2225 5450 9450 13600 21600

Coupe 925 2975 5675 8600 15300

Add:

Sunroof 5%

Deduct:

Automatic transmission -15%

Collector Car Market Review

Condition Guidelines

These are condition guidelines to help assess a vehicle's condition. Keep in mind that there are many factors that affect value. For example, a "barn find" may on the surface look like a #4 or #5 vehicle, but it's time capsule quality means it is worth more than it's condition would usually warrant.

#1 Excellent: A close to perfect original or a very well restored vehicle. Generally a body-off restoration, but a well done body-on restoration that has been fully detailed may qualify. The vehicle is stunning to look at and any flaws are trivial and not readily apparent. Everything works as new. All equipment is original, NOS, or excellent quality reproductions. (See show car description in How to Use section.)

#2 Very Good: An extremely presentable vehicle showing minimal wear, or a well restored vehicle. Runs and drives smooth and tight. Needs no mechanical or cosmetic work. All areas (chassis not required) have been fully detailed. Beautiful to look at but clearly below a #1 vehicle.

#3 Good: Presentable inside and out with some signs of wear. Not detailed but very clean. Body should be straight and solid with no apparent rust and absolutely no rust-through anywhere. Shiny, attractive paint but may have evidence of minor fading or checking or other imperfections. Runs and drives well. May need some minor mechanical or cosmetic work but is fully usable and enjoyable as is.

#4 Fair: runs and drives OK but needs work throughout the vehicle. Body shows signs of wear or previous restoration work. Any rust should be minimal and not in any structural areas. Cosmetics, body, and mechanics all need work to some degree.

#5 Poor: In need of complete restoration, but is complete and not a rust bucket beyond repair. May or may not run. Not roadworthy.

Parts or Salvage: Incomplete vehicle most useful for parts. Generally, take 50-60% of the #5 value.

© This page Copyright 1988-2008 VMR International, Inc. All rights reserved."

http://collectorcarmarket.com/menus/ccmprcs/72ba2002.html

I've been following the market closely for six months, in particular, for pre 74 2002's. Prices are accurate for sales I've seen. The Kitman car, and others like it, are outliers IMHO. There are very few original, documented, low miles cars available.

[napa02]

It's like collecting baseball cards... Just because the price in the collector guide is high, doesn't mean you can sell it for that. True value is based on what someone is willing to pay you for it...

[cbgii]

very helpful replies all - thanks very much!

Like napa02 says - you can have all the appraised value in the world, doesn't mean someone will pay that. Or as Captain Barbossa said in Pirates of the Caribbean "the code is more what you'd call "guidelines" than actual rules. Welcome aboard the Black Pearl, Miss Turner." Substitute "'02s" for "the Black Pearl" and it's spot on!

[nbristow01]

These cars are worth more than used Camrys. Go to almost any Vintage collectible forum and the oldtimers say they are not worth what they are bringing. Old MG guys, old Alpha guys yada yada yada

As the 50s and 60s cars had their time, the time of the 70s and 80s cars are coming on strong. Values follow the generation that knew them as kids and desire to buy them to bring back memories etc.

Just my opinion

[OrlandoJoe]

I know this topic has been addressed before, but through which insurance company did you get your agreed-value policy?