Chris's (only02) $$32k 02

[BLUNT]

its real and hes been paid in full. congrats to him and to all of us. this does nothing but help all of us.

in his own words

Hey Blunt,

I’m glad you asked. I’ve always sold my cars with no reserve, and I’ve always started them at $20.02 (unless it was a 1600, then it was $16.00). This way the buyer is only separated from the next potential buyer by $100.

I wanted people to tell me what the car was worth, not the other way around. Sure, sometimes I loose, but sometimes I win. For me, I’m just hooked on building them. It’s fun, I like the process, and I’m a big fan of the car. I’m not an expert, in fact I’m constantly looking to the FAQ archives in the late hours trying to figure out a new puzzle, but I’m learning with each one.

In the early years (remember the white top 02’s?) it was the constant criticism from FAQ members that actually drove me to build better cars. The constant nitpicking about correct year for this part vs. that part, the focus of overspray on a trunk latch, etc., has actually been very constructive for me, it clued me into what buyers want, so now that’s what I try and build…

http://www.only02.com/Classic_ep_37-1.html

Yes, it sold for $32.1k, and the buyer is really excited about the car. His wife, who typically buys trinkets, did the bidding. Funny, I would have thought people would have been excited for me? Or at the very least happy that I’m helping increase the values of their investments. Instead, people actually emailed the winning bidder, telling them they got ripped off, and they made a huge mistake…

I don’t know how to establish a fair price, is simply the sum of the value of my investment in the parts, the paint, the interior, a new motor? Should I expect that my hundreds of hours of work have some value? I really don’t know, so you’ll still see all my creations with no reserve, no shilling, no re-listings…

With a bit of luck, a couple people really liked this one, I’ve been paid in full, the transporter arrives tomorrow, and then I fly out to Newfoundland to join my team for the 2008 Targa Race…

Cheers,

Chris

[RKS]

That's awesome for Chris. Wow.

[oz_tom]

Fantastic news. What moron would email the buyer telling them they got ripped off. If it was anyone on this board... leave, now, please. Or go restore an 02 and see how much it costs ya ;-)

[BillWilliams]

in one of my early posts about his car, I estimated a $20k to $25k winning bid. I guess I was a bit low.

With the price of new parts and paying for the trades people to paint and do motor work, it is hard to build a car like that for much less. I think these kinda prices are here to stay. It is now a question of how strong the classic car market stays. I think most nice 2002s will be selling in the $17k-$27k range.

[oz_tom]

In related news. Ray Koke now needs to eat one of Andy's socks, as he clearly stated he would on bimmerforms when money changed hands for this car.

:-D

Tom

[dubois]

that is excellent news for all of us, myself included!!!

[Guest]

I think it's fair to say that some people are more than willing to pay top dollar for a VERY NICE example of 2002s. There are a handful of FAQers cars that could bring a similiar price.

BUT, 99.9% of 30+ year old 2002s don't qualify for what just happened.

If your car isn't "show caliber", don't think the value of your car just went up exponentially. LOL

Remember, "The best cars don't get to auction".

mac.

[devo1]

Congratulations Chris and thanks. I can now say to my wife that I can spend another $26,000 on " l'il miss butterscotch " (her name for 76 sahara) and still break even if I sell it.

Ultimately, supply and demand will favor supply. You just have to be patient.

[inkatouring]

that is excellent news for all of us, myself included!!!

Especially you. I would seriously think about eBay for the ALPINA.

[JohnC]

Right on Chris, congratulations. I admire your courage to sell the car with no reserve. I'm glad it worked out for you. The new owner bought a beautiful car. Having gone through a novice resto-refresh myself, I don't think I could build a car that nice for what he paid, when you take into consideration the painstaking labor.

[jgerock]

Congratulations. Your car is an excellent example of a nice 2002 that most likely cost you mega $$$ to build. I'm really glad I bought my car (12/06), joined the car club (and FAQ) and am able to meet super nice folks who are as passionate about their cars as I am.

I'm almost thinking of selling my '71 Cal-Look Beetle to purchase another tii.

Congrats again!

[Guest]

I think that most of us were casting a jaded eye because it was Ebay. The amount of scams and deadbeat bids easily allows the skepticism. Nice car, but I thought ballpark 20k myself. Good on you and hope the new owner has some fun. Chris

[bmw1602.com]

with the amount of time/work/money/love that I have put into my car. If I ever want to sell it, I for one am very happy to see HIGH sale prices!

I remember seeing one of the skimark built race cars asking $35,000.

I truely hope to see '02 prices continue to rise.

Now that I have one, I hope they get expensive.

So get yours now while thier still below $100k ; )

Congratulation Chris on a great sale. Looks like an amazing car. Great pics too...

[penth2o]

Nice to see you got what you got.

Bill put it to what I was thinking.

I put it to what you may have put into it and would never realize what you will get out of it.

I have read a couple of your posts and, most restorers do not realize the expense that they put out (they do realize the expense that they put out) But, they realize that they will never re-coop that expense....

You, on the other hand realized that expense and re-cooped your investment. (or maybe not) Only you know that. But, You have set the record for a non Tii and probably set the standard for Barrett Jackson on the 02's.

For that I commend you. Job well done.

A lot of non sayers will condemn you. Flea bay can have it's hazards but you beat the odds.

I hope you have your money and put the armchair Lawyers to rest....

I have to edit this as I just read all the replys.

There was a guy that said he would eat someones sock or jock on another board. If any of you know him, tell him to start chowing....

[bluedevils]

Hey I got two 74 tii's in great shape anybody interested? Will take 40K for both! They have some holes and like but run like rockets. hehe Joking aside this is a great news for all 02 owners. Hope everybody have some spare parts because parts' cost will sky hi very soon above what they already are.