other 02 Prices

[Slavs]

As someone who's been driving 02 since 1982 its hard not to notice the recent hike in 02 resale prices. But the 02 is still a bargain compared to the Porsches and Alfas.

 

As recently as 10-15 years ago one could have bought a very clean Porsche 912 between 5k-10k. Now these cars trade for 30k+

The most desirable early 911s were between 10k-20k. And now they trade for 100K+

 

While in high school during the early 80s a friend of mine purchased a very clean and strong Porsche 356 for $3,500.

And now the same car is 60k+

 

The 02s cost next to nothing. A good Tii traded for about $6k-$10k just 15 years ago.

When I look through Craigslist ads I'm surprised people are asking $15k for Frankenstein 02s where nearly 50% of the car has been rep[laced with aftermarket this or that, transplanted motors from newer BMWs, every little gadget and gadget from a myriad of aftermarket fabricators and suppliers, etc etc. The 02 crowd is for the most part a "Rat Rod" group. And that is OK because the 02 lends itself to this. But as the prices climb, I bet collectors will demand more originality and / or period correct homogolation.

[Conserv]

...But the 02 is still a bargain compared to the Porsches and Alfas.

....The 02 crowd is for the most part a "Rat Rod" group. And that is OK because the 02 lends itself to this. But as the prices climb, I bet collectors will demand more originality and / or period correct homogolation.

+1

Absolutely true, although I would probably use the term "resto-mod" in lieu of "rat rod". (I view "rat rod" as a subset of "resto-mod" and, thus, just one type of resto-modded '02.) I'm an inveterate watcher of '54-'65 Alfa Giuliettas/Giulias and it's quite amazing how many of them received fender mods to accommodate larger tires and rims; now, as a rule, those fender mods are being reversed and stock rims and tires are going back on. Ahhh, the cycle of life!

Regards,

Steve

[jrkoupe]

rat rod/resto mod?...not so sure I agree w/ that but no biggie.

 

my take:

 

because our beloved boxes were so affordable, they were usually bought by a less well heeled  less vintage correct crowd and therefore were  often modded w/o concern for originality or quality..lol...  it was often lack of funds that dictated mods. I still cringe at how some of these cars were modded. Ever see miata or jap  or z3 seats in a GTV?...triumph?...porsche???....no!...

 

Now  finally the lil box has caught the eye of more serious vintage car  folks.....deeper pockets etc etc...

 

 

we will always see original cars garnering the highest prices...thats true across brands....

 

now the hot market is in survivors, unrestored cars. But a well done car , correct etc is always going to get strong money.

 

Well modded cars can be strong as well........but these monster cars/ frankenstein cars/lo budget cans have also gained in value. Crapcans are like 5-6k these days.

 

Is the 911 RGRUPPE a rat rod group?...well, kinda.... but those mods are period correct, enhance performance, and if done well, can increase  value. Think of   the little red baron flared car..or Blunts M2  car as well done modded cars w/ big value.

 

Personally, Id like to see less bastardization( a real word?) of our cars...they deserve proper mods....and there are so many to do. 

Edited June 18, 2015 by jrkoupe

[gregpark]

With real estate, value is mostly about location. With classic cars, rarity. BMW made a boatload of '02s. 

[mo02]

I am saying this not to offend ANYONE.

But to me it seems like the 'vintage' BMW crowd seems like 'hippies' compared to old Mercedes/Porsche. More like the old VW crowd...I am not sure if it is a good thing or bad thing or if I am 100% right, just my opinion.

MF

[Mike Self]

If you're getting priced out of the 2002 market, take a look at E30 prices--and I don't mean just M3's...it's almost any is model, and especially the later plastic bumper cars.  And the 318is--about the closest thing to a "modern" 2002 BMW has built.  If you've wanted an E30, now's the time--prices have increased significantly just in the past year and will probably continue to do so.  There are a lot more of 'em, but not too many original ones with less than 150k on 'em--especially the coupes.

 

As for '02s....I'm glad I've kept mine stock except for easily reversible--or just sensible (like a Weber carb) mods...not that I'm gonna sell 'em anytime soon...

 

mike

[skipsfcr]

Another problem, in my opinion, has been the quickness with which '02 enthusiasts, particularly in dry climates, have chopped up a good many cars folks in the remaining 3/4 of the country would see as completely restorable. Of course I realize that they're not especially rare but fewer is fewer as they're parted out.

[jrkoupe]

I am saying this not to offend ANYONE.

But to me it seems like the 'vintage' BMW crowd seems like 'hippies' compared to old Mercedes/Porsche. More like the old VW crowd...I am not sure if it is a good thing or bad thing or if I am 100% right, just my opinion.

MF

I know what ur trying to say.... I understand . perhaps  hippy is not the right word..but I hear ya.

 

There are some genuine hi level bimmerphiles, techs, historians for sure.....and there have been some amazing restores, modded cars, racers etc recently.........but overall....I hear ya.

[dang]

I am saying this not to offend ANYONE.

But to me it seems like the 'vintage' BMW crowd seems like 'hippies' compared to old Mercedes/Porsche. More like the old VW crowd...I am not sure if it is a good thing or bad thing or if I am 100% right, just my opinion.

MF

 

Groovy man, my bell-bottoms just got caught on the brake pedal...

[Conserv]

I am saying this not to offend ANYONE.

But to me it seems like the 'vintage' BMW crowd seems like 'hippies' compared to old Mercedes/Porsche. More like the old VW crowd...I am not sure if it is a good thing or bad thing or if I am 100% right, just my opinion.

MF

Yes.

And the '02 crowd is younger and less well-heeled than either of those groups, although the Porsche crowd has a few more...hippies.. than the MB crew. I can certainly tell you that the MB 230/250/280 SL crowd -- and those SL's are virtually contemporaries of the '02 -- is not talking about bigger rims and low-profile tires! But they've watched their values go from $50K to $150K (for top cars) within the last five years. So...chicken or the egg: have those SL prices skyrocketed because the cars are being carefully restored or have those cars been carefully restored because the values are skyrocketing?

I'm off my soapbox!

Regards,

Steve

Edited June 18, 2015 by Conserv

[LJtii]

No, he's right. We're hippies. In fact, since the 2002 is trending the same way as the 356, I'm planning on speeding up the process: while the factory Malaga still looks great on my '73 Tii, the wild paint on Janis Joplin's 356 has always appealed to me. So next week, in goes my original 2002 for a similar hippy-dippy paint job. Once it comes out, that car will be worth a fortune! Sometimes it amazes me how smart I am. 

Edited June 18, 2015 by LJtii

[Bauch]

I can tell you where I was coming from, having just bought a '72 tii recently, the first such car I have owned since the early 1990s when I was in college.

I have always had a great deal of nostalgia for the 2002, as my first car was a '76 2002 and got my first tii in 1991. Over the years, as the market for early 911s has gone past my means, and the number of appealing alternatives is small, I started thinking more and more about another tii. I believe that a lot of enthusiasts who had high hopes of owning an early 911 are probably in the same boat, as noted above, ergo, the rise in prices.

It is pretty clear to me that a clean, straight tii is a $30,000+ proposition right now. Even cars with little nits (like a snorkel nose) are still in the mid-20s. During my search, I drove a restored 74 Euro tii that was available for $45,000, and I know of a "best in class" restored 74 that had $85,000 into it.

It's about time that the rest of the automotive enthusiast world has started to recognize the value in the 2002. For those of us that have them now, I believe that values will continue to rise.

YMMV.

Edited June 19, 2015 by Bauch

[arminyack]

+1

Absolutely true, although I would probably use the term "resto-mod" in lieu of "rat rod". (I view "rat rod" as a subset of "resto-mod" and, thus, just one type of resto-modded '02.) I'm an inveterate watcher of '54-'65 Alfa Giuliettas/Giulias and it's quite amazing how many of them received fender mods to accommodate larger tires and rims; now, as a rule, those fender mods are being reversed and stock rims and tires are going back on. Ahhh, the cycle of life!

Regards,

Steve

A buddy of mine has a '59 Guilia...he's doing these exact same things to his! I remember when he bought back in '99 and was being all wishy washy about it. I gave him a swift kick in the pants and told him to just pull the trigger already, and he did. 

 

I make him buy me a beer every time we get together now.

[socal73]

Another problem, in my opinion, has been the quickness with which '02 enthusiasts, particularly in dry climates, have chopped up a good many cars folks in the remaining 3/4 of the country would see as completely restorable. Of course I realize that they're not especially rare but fewer is fewer as they're parted out.

I hate to see good cars cut up, but it has a two part positive effect. Lowers the price and increases availability of parts in circulation, and it drives the price up on the fewer remaining cars. Win-win if you already own an 02.

Edited June 18, 2015 by socal73

[Jim_75Sahara]

I sold my '02 in late 2013. Apparently it's worth a few thousand dollars more today. Oh well. I was driving the E30 more; I went over to the E30 side. Next BMW for me will be a 1989 325is; a low-mileage example that I have first dibs on.