Is anyone else surprised this '76 on BAT is $29k?

[mbausa2001]

https://losangeles.craigslist.org/wst/cto/d/west-hollywood-1973-bmw-2002/7077601795.html

[Mario Falfan]

I purchased Gretchen 4 years ago and so far I have spent about $20,000 car included, and my ride could use a glass out paint job...and if I did the 5 speed conversion .. it would hover around around $35000.00

[mbausa2001]

6 minutes ago, Mario Falfan said:

I purchased Gretchen 4 years ago and so far I have spent about $20,000 car included, and my ride could use a glass out paint job...and if I did the 5 speed conversion .. it would hover around around $35000.00

sounds about right! 

[saaron]

I'm normally still shocked at what 02s sell for.  I had the same reaction as the OP to a tii that sold recently for low forties.  I was like, "wow that seems kind of like a lot of money..."  The reaction I got was shoulder-shrug kind of "that's what they cost, dude" sort of thing.  

 

I think you guys are correct - if the car needs body and paint, and you're trying to do it right, you are going to be close to $20k, easily.  All the trim and all that is really expensive (you aren't putting old trim up against your $15k paint job), the bumpers are expensive, etc, etc.  So again, to do it well, it will add up dramatically and quickly.  People that know that, value that.  I know I have a new appreciation for it since I had a bunch of body work done on my car.  And if you want those E21 Recaros, and want them covered nicely, well there is a few more grand.  Sheesus.

 

And as much as 02s seem to go for now, I see tons of malaise-era horrible cars having ridiculously high asking prices.  It's like in the last two years the world has gone crazy, and anything with a tape-stripe package from '81 that is in decent shape is going to be $20k asking.  For cars that car enthusiasts of the day knew were a joke.  So that is another new thing that drives me insane.  An '86 442 with a 307 is a mildly interesting car.  It is not a GOOD car.  It is a terrible car.  It is not worth $30k.  It makes no sense.  And again, a really nice 02...not worth that.  If it has big bumpers, can't get $15k for it.  There is no justice.  

 

I feel like I need to write an article on these malaise-era cars, with references to contemporary articles, just pointing out that these are not good cars.  "This might look kind of retro-neat to you, Mr 28 year old, but it is not good - it is terrible.  Drives bad, bad quality; poorly made."  In the eighties when I bought my 02, every car person knew there were like two good cars being made (BMW and Saab Turbos), and the rest were horrible.  Everyone was looking for something from the late sixties / early seventies, when cars were good.  

 

Looking forward to living in my shack in the mountains with my tin foil hat, and my giant list titled "the following cars are horrible so just buy a 2002 and don't worry about what the tail lights look like or if it has a rust bubble."

 

Scott

 

 

[Conserv]

1 hour ago, saaron said:

I'm normally still shocked at what 02s sell for.  I had the same reaction as the OP to a tii that sold recently for low forties.  I was like, "wow that seems kind of like a lot of money..."  The reaction I got was shoulder-shrug kind of "that's what they cost, dude" sort of thing.  

 

I think you guys are correct - if the car needs body and paint, and you're trying to do it right, you are going to be close to $20k, easily.  All the trim and all that is really expensive (you aren't putting old trim up against your $15k paint job), the bumpers are expensive, etc, etc.  So again, to do it well, it will add up dramatically and quickly.  People that know that, value that.  I know I have a new appreciation for it since I had a bunch of body work done on my car.  And if you want those E21 Recaros, and want them covered nicely, well there is a few more grand.  Sheesus.

 

And as much as 02s seem to go for now, I see tons of malaise-era horrible cars having ridiculously high asking prices.  It's like in the last two years the world has gone crazy, and anything with a tape-stripe package from '81 that is in decent shape is going to be $20k asking.  For cars that car enthusiasts of the day knew were a joke.  So that is another new thing that drives me insane.  An '86 442 with a 307 is a mildly interesting car.  It is not a GOOD car.  It is a terrible car.  It is not worth $30k.  It makes no sense.  And again, a really nice 02...not worth that.  If it has big bumpers, can't get $15k for it.  There is no justice.  

 

I feel like I need to write an article on these malaise-era cars, with references to contemporary articles, just pointing out that these are not good cars.  "This might look kind of retro-neat to you, Mr 28 year old, but it is not good - it is terrible.  Drives bad, bad quality; poorly made."  In the eighties when I bought my 02, every car person knew there were like two good cars being made (BMW and Saab Turbos), and the rest were horrible.  Everyone was looking for something from the late sixties / early seventies, when cars were good.  

 

Looking forward to living in my shack in the mountains with my tin foil hat, and my giant list titled "the following cars are horrible so just buy a 2002 and don't worry about what the tail lights look like or if it has a rust bubble."

 

Scott

 

 

I’m glad you got that off your chest, Scott. ? Inspired by you, I’m gonna start making my own list of terrible cars! ?

 

Best regards,

 

Steve

 

[Conserv]

Before the Big Re-Paint, but after a comprehensive mechanical rebuild at Korman in 2011-12 (engine, clutch, trans, diff, and brakes), I insured the ‘76 for $15K. It was a one-owner, fully-documented, perfect-interior car that looked very sad in the remnants of the original Polaris paint. I thought $15K was pushing the upward edges of the value envelope. $10K was probably closer to its value, despite the colassal cost of the mechanical rebuild.

 

With the Big Re-Paint in 2015-18, however, I figured I should get the car appraised, assuming the value, post-paint, might easily exceed $20K. I got an appraisal, by an independent appraiser that appraises lots of cars for Korman. I was not looking for any particular value, I did not discuss values with the appraiser, I simply wanted a realistic number for insurance purposes. I was shocked when I received an appraisal for $52.5K.

 

Could I sell it for that much? I have no idea. But I recall a particularly-unimpressive 1975 2002A, badly re-painted, selling at one of the major auction houses for $24K, ten years ago!  Ten years ago! 2002A! Bad re-paint! The main attraction appeared to be that it was one owner. It had little else going for it. So I figure anything is possible on any given day. And I wasn’t the slightest shocked at $29K for the subject car.

 

I’ve never added up the ‘76’s 44 years of invoices. But I’m quite confident that $52.5K would be less than half of what I’ve spent these many years!

 

By the way, the ‘76 is not for sale, at any price — well... maybe there’s some price — even up trade for a Maserati 3500 in equivalent condition... ?

First photo: sad pre-paint ‘76 hiding in the shadows, dreaming that he might be worth his $15K insured value. Second photo: proud, self-confident post-paint ‘76, knows he’s worth big bucks, and acts it.... ?

 

Regards,

 

Steve

 

 

 

 

 

Edited February 24, 2020 by Conserv

[ray_]

Wanna trade it for my white car?

 

[Conserv]

6 hours ago, ray_ said:

Wanna trade it for my white car?

 

Is that a white Maserati 3500?
 

☺️

 

[ray_]

5 hours ago, Conserv said:

Is that a white Maserati 3500?
 

☺️

 

 

 

Nope.

 

But I  was just thinking. This car contains BMW parts made from ~1965 to 1990!

 

[BarneyT]

Of course most of them are in the trunk..?

 

 

Edited February 23, 2020 by BarneyT
Spelling

[fastricky]

Don't tase me bro but I think the majority of folks are out of touch on what a well sorted '02 goes for (and justifiably should go for based on investment). The original '02 of this thread is worth considerably more than the $35k asking price IMHO. There was a time decent '02s were plentiful and you could tinker on it, mess things up and not really care too much. Those days are gone gone gone and because so many were not treated with the respect they deserved (adherence to originality, keeping it rust-free, not doing any bozo mods) the ones that are available today in good shape and true to original form demand and very much deserve a premium.

[Mario Falfan]

IMO most of us have paid under $10,000 for the 02. We work on them upgrade them love and before we know it we have a $25,000 ride.

So when we see a $39,000 2002 we are baffled, but if you add all the tinkering and the replacement parts it will add up pretty fast. A glass out paint job is a solid $5000.00 or a 5 speed conversion is a solid $2500.00 not too mention an a/c.

[Dosky]

For all that commented on my '76 Jade 02, thanks for the constructive criticism.  I've been a motorcycle guy for the past 30 years and have restored a number of BMW bikes.  About 3 years ago I decided to buy and build an 02 but found it very difficult to buy a rust free car that I considered a good candidate for restoration.  The first 3 cars I bought could have been restored but the cost estimates were pushing $60k.  I just couldn't justify spending the money.  I looked at 3 "restored" cars that were not really restored but more like freshened up.  All 3 were in the high $20s to low $30s.  I found this Jade car on this site.  It was already restored and I have done very little to it.  I also own a pretty nice '74 Tii but it does not compare to the Jade car.  Over the past 3 years I have looked at and driven close to fifteen 02s.  You would be hard pressed to find one that drives and runs as nice as this car.

 

I'm not making that statement because it is My car.  I consider my self to be objective and extremely picky.  I'm reluctantly selling one of my 02s.  I thought it prudent to sell the Jade car and keep the Tii.  After time driving both and comparing I think it might be better to sell the Tii and hold on to the Jade car.  The other truly restored cars I looked at were priced at $45k and up.  My car in the low $30s seems like a bargain.

 

As for wheels and knee trim, those are a matter of personal preference.  I couldn't agree more about the license plate lights.  The Euro units are damaged and I haven't found replacements.  TX requires LP lights so I have 4 until I find replacements.  It would be a lot less expensive to slightly modify this car to one's personal preference than to go through the entire restoration process on another.  This is how it ended up in my garage.

 

I'm starting a few mods like camber adjustment hardware, changing back to 14" wheels, repairing the single rust bubble and possibly removing the knee trim.  

 

Thanks again for the conversation and keep an eye out for a '74 Tii coming soon.

[resra]

I wouldn’t remove the knee trim but put proper long end European bumpers that came on all Square tail cars in the rest of the world.

[resra]

You can look at some examples here.

 

 

Edited March 2, 2020 by resra