Not a barn, an estate sale - Wrist Twisters
 
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post #1 of 34 Old 03-05-2009, 02:29 PM Thread Starter
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Not a barn, an estate sale

My oldest brother is a well respected international antique dealer in the Indianapolis area. He gets contacted by local auction houses and estate appraisers when they come across things that they think he might be interested in purchasing.

One of his passions is antique shotguns, he has an incredible collection. Another is fast cars and cool old vehicles of any kind, he's where I got my love of such things.

Well he may have hit the mother lode today. Local appraiser contacted him about an estate they just appraised, the deceased gentleman evidently has quite a collection of fine guns. Turns out the old guy also had excellent taste in vehicles, including...

2003 BMW M3, 35k miles, Dinan performance kit.

Honda S2000, year TBD.

1981 BMW R100, 3800 miles. Exact model unknown

Did the following research on the R100:
Spoiler:


4 different 1981 R100 models, bike details obtained from this site:http://www.bmbikes.co.uk/bmwmodels.htm

Prices from NADA Antique Motorcycle Guide

R100CS: http://www.bmbikes.co.uk/specpages/R100CS.htm

Excellent: $3,900
Very Good: $2,400
Good: $1,625


R100RT: http://www.bmbikes.co.uk/specpages/R100RT.htm

Excellent: $4,375
Very Good: $2,700
Good: $1,750


R100RS: http://www.bmbikes.co.uk/specpages/R100RS.htm

Excellent: $4,250
Very Good: $2,675
Good: $1,750


R100T: http://www.bmbikes.co.uk/specpages/R100T.htm

Excellent: $3,900
Very Good: $2,400
Good: $1,625

There's a catch of course, there always is....

The deceased left his estate to four cousins from Chicago. They have first dibs on his property, or can choose to split the proceeds from any sale. The appraiser will provide my brother the prices on everything tonight, the cousins are coming down Friday to inspect the estate and decide if they want anything or will wait to split the cash. Which means we're hoping they're cash strapped old men who have no interest in guns, sports cars or vintage bikes and we have a chance to go check it all out on Saturday and potentially buy if the price is right.

It's all very interesting how this popped up right now, I'd decided awhile back to buy a used M3 in the spring and have been searching listings daily looking for a good deal. Looks like anything under $20,000 would be cheap, considering the miles and extras, assuming of course that it's in excellent condition. Have always liked S2000's as well, was hot for one a couple of summers ago but never acted on it. And of course always in the market for a cool vintage bike, although my brother actually might be interested in this one if the price is right.

More to come as I learn details....

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post #2 of 34 Old 03-05-2009, 02:46 PM
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Would love to see the gun collection


Can't say I've ever been to fond of the Honda S2000's. They'd be a blast on a road course, but for everyday driving not so much. You have to keep them reved up so much that they soon loose their novelty.

For the little roadstar type vehicles I have always liked the BMW Z3 M series, very well put together and just plain fun in any driving situation. Don't care much for the Z4 lines, probably have put a 1000 miles on various Z3's with different engine confiurations and even the base one's are fun.


I used to work for an upper end used car dealer and we always got a variety of various sports cars. The owner was an old friend of my families and I had a better sampling of demos than most of the other guys.

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post #3 of 34 Old 03-05-2009, 02:53 PM
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Quote:
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Would love to see the gun collection
First you will have to pry his cold hand off it...

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post #4 of 34 Old 03-05-2009, 02:56 PM Thread Starter
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Can't say I've ever been to fond of the Honda S2000's. They'd be a blast on a road course, but for everyday driving not so much. You have to keep them reved up so much that they soon loose their novelty.

For the little roadstar type vehicles I have always liked the BMW Z3 M series, very well put together and just plain fun in any driving situation. Don't care much for the Z4 lines, probably have put a 1000 miles on various Z3's with different engine confiurations and even the base one's are fun.

Yeah, I've driven several Z3's, my brother used to own a 3.0. Lots of fun and classic styling. My business partner has a new Z4, it performs well and its look has grown on me, but the Bangle styling still isn't my cup of tea.

Not really interested in buying the S2000, but the couple I've driven were a blast. Something about a car that revs like a bike, smiles for miles!

Now the M3...that's been my dream car since the E46 model was introduced. I had an '03 330Ci coupe with the sport package, basically an M without the engine and a beautiful car, but still not the same as that sweet 333HP M3 straight six! The prices have finally dropped enough to make a used one somewhat affordable, waiting with the proverbial baited breath to see what they've appraised this one at.

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post #5 of 34 Old 03-05-2009, 03:05 PM
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Not sure if youve driven an s2000 yet because of the way you phrased your answer. Say they "would be" instead of "they are"...anyway.
I have an 06 s2000 and have no issues driving around town. It's not lacking as much bottom end as people are afraid of.... prior to that I had mostly been a porsche guy with a string of them and the last before I got the s2000 were 2 80's Porsche 911 SCs and they should have near 100 ftlbs at idle because those flat 6s make some low end. So if I have no complaints, I'd say most people wouldnt. The 06 has a little bit more low end than the 00-03 but, in general it's just fine on the road.

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Would love to see the gun collection


Can't say I've ever been to fond of the Honda S2000's. They'd be a blast on a road course, but for everyday driving not so much. You have to keep them reved up so much that they soon loose their novelty.

For the little roadstar type vehicles I have always liked the BMW Z3 M series, very well put together and just plain fun in any driving situation. Don't care much for the Z4 lines, probably have put a 1000 miles on various Z3's with different engine confiurations and even the base one's are fun.


I used to work for an upper end used car dealer and we always got a variety of various sports cars. The owner was an old friend of my families and I had a better sampling of demos than most of the other guys.

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post #6 of 34 Old 03-05-2009, 03:08 PM
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Well looks like Scott has driven one already so thats all that matters.

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post #7 of 34 Old 03-05-2009, 03:17 PM Thread Starter
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Originally Posted by hkspwrsche View Post
Well looks like Scott has driven one already so thats all that matters.
Oh yeah, my buddy Larry had a S2000 for a few years, drove it many times. Loved the quick revving motor, that thing would scream towards redline. Never quite got used to the funky digital tach, but kind of added to the motorcycle on four wheels feeling I guess. I was tempted by a few at auction a couple of summers ago, decided that I was a bit too tall to enjoy one on a daily basis and bought more motorcycles instead.

And in a race with a Z3 or Z4, the S2000 wins hands down. Now an M Roadster, that's another matter! Or my future M3 for that matter.

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post #8 of 34 Old 03-05-2009, 03:35 PM
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7 7 7....................jackpot....


congrats......... i wish i could come look through the guns... i am thinking of making a purchase as soon as i pay off a couple small bills i have...



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post #9 of 34 Old 03-05-2009, 03:41 PM Thread Starter
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I'll try and get a listing of the guns for you guys, curious myself. Should have more details and possibly some pics of the vehicles later this evening.

Anybody offer any input in the R100?

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post #10 of 34 Old 03-05-2009, 03:43 PM
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Sorry, dont know anything about the r100, Good luck with scoring a few items though, I wouldnt mind a few more guns, or an m3 either

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post #11 of 34 Old 03-05-2009, 03:46 PM
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Quote:
Originally Posted by hkspwrsche View Post
Not sure if youve driven an s2000 yet
I've driven 2-3 of them, no extensive seat time and in the right conditions I think they'd be fun, but just not my cup of tea.

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post #12 of 34 Old 03-05-2009, 03:48 PM
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Not sure if youve driven an s2000
can't fit in the damn thing... or at least can't get out without help...



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post #13 of 34 Old 03-05-2009, 03:53 PM Thread Starter
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can't fit in the damn thing... or at least can't get out without help...
I fit fine with the top down. Top up is another matter. Have the same problem with Boxsters, TT's, and Miatas, topless rocks, top up not so fun. That's why I only drive my Alfa on sunny days with the top down. Well that and it only runs on sunny days.

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post #14 of 34 Old 03-05-2009, 04:36 PM Thread Starter
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Ok, just talked to my brother and got some more details...

First of all, the R100....the appraisers are not sure what model it is and priced it as if it were the least valuable one at $2100. It has only 3819 miles and was purchased new, ridden right up until last fall.

The M3...well it doesn't have 34,000 miles.....it actually has 13,785! It's black with tan leather, sunroof, 6 speed, Dinan exhaust and intake system with $4600 in dealer receipts from installation. Dealer maintained, like new, but priced a bit high for an '03 at $24,250. On the other hand it has 13,785 miles!

The S2000 is an '01 with 21k miles, 6 speed, includes hardtop, $11,900.

The gun collection includes a Model 21 Winchester, a Parker 12 gauge and a Beretta 20 gauge. Also fourteen single shot .22 match rifles with Leopold scopes.

My brother is interested in the shotguns, I wouldn't mind a match rifle just for kicks, have always thought they're cool. The M3 might be able to be purchased for somewhat less than that price and with that mileage is a virtually new car. The S2000 is not a bad price, but not a super deal either, about what it's worth. The R100, just going to have to look at it and see what we think, not a bad price if it's pristine and it sounds like it probably is as all vehicles were purchased new and stored in a heated garage.

We'll find out tomorrow what the cousins decide and tentatively have an appointment Saturday to go check it all out.

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post #15 of 34 Old 03-06-2009, 04:41 AM Thread Starter
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Dreamed about that M3 last night, also very curious to see the R100...should know tonight if we get a shot at any of it or not.

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post #16 of 34 Old 03-06-2009, 04:50 AM
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As you already mentioned, the prices are a bit high. With your auction access you can pick up very nice used low mileage M3's at great prices right now. Especially if you get down to Nashville. On the flip side, you know the exact history of this one. I was eyeing an '09 M3 the other day at New Country BMW in Hartford ... they had a few. They are NICE! They were dropping them $12,000 off MSRP.

The S2000 is a fun drive. Seriously looked at one last summer, but I'd get a lightly used Boxster before a new S2000. They you have the whole chick and metro stigma driving one ...

Sorry, can't help you with the R100.

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post #17 of 34 Old 03-06-2009, 04:57 AM
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The M3 certainly doesn't need my endorsement but it gets it. I had the opportunity to drive one on a autocross track a few years ago, I think it was a 99 or 00, and I've never synched up with a car as quickly as that one. Everything worked so well with so little effort.

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post #18 of 34 Old 03-06-2009, 06:22 AM
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The 330Ci's are sweet, M all the better, Dinan...sheesh, you're killing me.

Anything after 2001 is ok, up til the there are problems w/ the head bolts stripping out.

Test drove an 03 a couple weeks back, too much fun.
The Z3's don't make it for me but the Z4 3.0 coupe is interesting but a serious lack of interior space makes it a no go.

Hopefully a better price on the M3 will make it yours. Can't beat that mileage.

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post #19 of 34 Old 03-06-2009, 08:36 AM Thread Starter
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I always get myself all fired up on for no reason, guess I should wait until I hear if anything is still available after the family visits. I've already rationalized spending a couple grand more on the M3 than I would normally just because I'll never find another 13k mile one owner car already tricked out with $5k worth of Dinan goodies. Spend last evening searching ebay, craigslist and all the auto trader sites, that price is actually quite good for what's out there. There's a 17k mile comparable vehicle in Washington State that they're asking $28,995 for, nothing else in the country comes close to that mileage for an '03.

I've been watching the auction, my local Adesa auction has a "Top of the Line" sale once a month with higher end sports and luxury vehicles. A few M3's turn up from time to time, could definitely buy one cheaper but once again not with that mileage or one owner dealer maintained stored in a heated garage and only driven on sunny weekends history. I also know the dealer having leased 4 cars from them previously and have contacts there to check its service history once I get the VIN.

Enough about the M3, even though it's all I can think about....

Somebody chime in with some info on the '81 R100!

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post #20 of 34 Old 03-06-2009, 08:43 AM
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Somebody chime in with some info on the '81 R100!
its 27 years old......



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post #21 of 34 Old 03-06-2009, 02:03 PM Thread Starter
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Sigh...

Moot point, the cousins from Chicago took everything, both cars, bike, shotguns, all but a couple .22 match rifles. Oh well, I guess the excitement of the hunt is most of the fun anyway. Or at least that's what I tell myself each time I get all excited about a potential acquisition only to be disappointed again.

I did find out that financing on a 6 year old car is not exactly easy to come by. Best quote was 9.7% on a 42 month loan, which would have made a $24,000 M3 into a $35,000 M3 with $670/mo payments. I had planned to buy it cash, then finance it and make the payments through my business in lieu of another new leased company vehicle. Going to have to rethink that plan evidently.

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post #22 of 34 Old 03-06-2009, 02:05 PM
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Originally Posted by sbeau1960 View Post
Moot point, the cousins from Chicago took everything, both cars, bike, shotguns, all but a couple .22 match rifles. Oh well, I guess the excitement of the hunt is most of the fun anyway. Or at least that's what I tell myself each time I get all excited about a potential acquisition only to be disappointed again.

I did find out that financing on a 6 year old car is not exactly easy to come by. Best quote was 9.7% on a 42 month loan, which would have made a $24,000 M3 into a $35,000 M3 with $670/mo payments. I had planned to buy it cash, then finance it and make the payments through my business in lieu of another new leased company vehicle. Going to have to rethink that plan evidently.
Sorry to hear that.

Attractive used car loans and new car leases are not as plentiful as they once were.

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post #23 of 34 Old 03-06-2009, 02:06 PM
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F'in cousins ruin everything.

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post #24 of 34 Old 03-06-2009, 02:17 PM Thread Starter
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Sorry to hear that.

Attractive used car loans and new car leases are not as plentiful as they once were.
You know what's bull? I checked with the bank that owns our insurance company who we spend a TON of money with each year, like 7 figures bunch of money. Well known national bank that shall remain nameless. Anyway, I called my insurance company Prez and asked him to put me in contact with a banker because I know this bank has traditionally been big in auto financing from my dealership days. He dutifully rounds up a bank finance guy and explains that we're his biggest client, please take care of my request. Guy calls me, acts totally uninterested, says they really don't like to make many car loans these days and rarely over 5 years old. I asked if he could at least give me a rate and what the loan value on the M3 was in his book, he sighed and said the rate would be at least 10.5%, IF I had good credit (aarrgghh!) and he didn't know or really care to look up the loan value. Ok then, thanks for nothing! The real pisser is that I know this bank received several billion dollars in bailout money because my insurance Prez friend told me so. He also told me that they are still sitting on it and really don't have any intention of distributing it to the public to stimulate the economy, a fact driven home by my conversation with the banker today. (double AARRGGHH!!)

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post #25 of 34 Old 03-06-2009, 02:23 PM
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You know what's bull? I checked with the bank that owns our insurance company who we spend a TON of money with each year, like 7 figures bunch of money. Well known national bank that shall remain nameless. Anyway, I called my insurance company Prez and asked him to put me in contact with a banker because I know this bank has traditionally been big in auto financing from my dealership days. He dutifully rounds up a bank finance guy and explains that we're his biggest client, please take care of my request. Guy calls me, acts totally uninterested, says they really don't like to make many car loans these days and rarely over 5 years old. I asked if he could at least give me a rate and what the loan value on the M3 was in his book, he sighed and said the rate would be at least 10.5%, IF I had good credit (aarrgghh!) and he didn't know or really care to look up the loan value. Ok then, thanks for nothing! The real pisser is that I know this bank received several billion dollars in bailout money because my insurance Prez friend told me so. He also told me that they are still sitting on it and really don't have any intention of distributing it to the public to stimulate the economy, a fact driven home by my conversation with the banker today. (double AARRGGHH!!)
Most "bankers" suck. Great titles, little intelligence with appropriate compensation.

The flip side of having crappy loan rates ... savings interest rates are at their highest in years! You're a car guy and know what happens at a time like this. New car pricing will not be all that great if not poor due to the need to make a "responible" profit on lower volumes. The beauty of times like this is "CASH"! Off lease super low mileage well maintained luxury cars are on the "CHEAP"! The next year or so is the hayday for the smart that have "CASH"! Buying and holding property, cars, etc.

It's better to have loved and lost than live with the psycho for life!
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post #26 of 34 Old 03-06-2009, 02:36 PM Thread Starter
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Don't mean to diss all bankers, but many I have dealt with meet your description to a T. I conduct business with banks in Indiana, Florida and Iowa, you know who's the smartest and best to deal with? The small town private farmer's bank back in Iowa! They actually have a clue and are used to dealing with real world situations, can look at an opportunity on its own merit as opposed to just plugging numbers into formulas.

That said, all three banks are private community banks and do an excellent job, none overextended themselves and all are on firm financial footing. I'm sold on local banking, especially after dealing with the idiot today at the big mega bank.

And then a classic bike and sports car thread turned into a bank rant!

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post #27 of 34 Old 03-06-2009, 03:01 PM
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... And then a classic bike and sports car thread turned into a bank rant!
Since you lost the "barn find" ... next best thing. Banking.

I know what you mean. My main bank that I do the majority of banking a local N.E. bank. Unfortunetly, in Indiana I went with "FEE Third" for convenience and know a higher level person to handle any issue for me. And, I use HSBC for global stuff and the few banks in various countries I have holdings.

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post #28 of 34 Old 03-06-2009, 03:17 PM
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The credit freeze is probably going to be here for a bit longer. Yes, the purchase of preferred stock in banks was supposed to free up enough capital to allow for muchos lending, but the reality is home prices are still falling (we haven't bottomed out yet) and in most cases, it doesn't make a lot of sense to lend when you know it'll likely be a negative equity situation (more so than usual). As the troubled assets are related to homes by and large, banks are not so interested in lending any money as they want to be able to cover their losses. That and people will still be getting laid off at a higher rate than normal for a spell. So yeah, it sucks, credit crunch and all, but telling a bank to lend now might just exacerbate the problem.

My professor is on his way to speak with Congress about TARP and the transperancy, so I've been fortunate enough (read: tuition dollars at work!) to get insight from someone close to the issue, though opinions are like you know what.

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post #29 of 34 Old 03-06-2009, 03:28 PM
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Dang just another tease, well sooner or later you are gonna score big with one of these finds Scott.

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post #30 of 34 Old 03-06-2009, 03:35 PM Thread Starter
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Back on a vehicle related note, look what's coming up at the "Top of the Line" sale in a couple of weeks!

C - 11 2006 BMW M3 NA COUPE 2 3.2L I-6 MPI 32543 M Blue WBSBL93426PN64244 03/17/2009 Remarketing Services of America, Inc. ADESA Indianapolis
Options: Sequential Manual Gearbox SMG Leather 2WD SN 5P CC PL PST PW AB AD TC MS AC PSDP STB HSDP AFCH Tilt Telescp SAirbgLF SAirbgRF PDC CdinDash RearDfrost


and...

C - 21 2006 BMW M3 M3 COUPE 2 3.2L I-6 MPI DOHC 39956 M Black WBSBL93466PN64442 03/17/2009 Remarketing Services of America, Inc. ADESA Indianapolis
Options: 6 Speed Transmission 6S Leather 2WD MN 5P CC PL PST PW AB AD NS MS AC PSDP HSDP AFCH Tilt Telescp SAirbgLF SAirbgRF RearDfrost



Looks like '06's have been selling for about $28-29,000, a bit outside my desired price range but I'll certainly go watch them run, you never know.

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post #31 of 34 Old 03-06-2009, 04:01 PM
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I was under the impression that auction vehicles were the ones that had the roughest lives (dealer couldn't re-sell). Am I off?

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post #32 of 34 Old 03-06-2009, 04:05 PM
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Quote:
Originally Posted by sbeau1960 View Post
Back on a vehicle related note, look what's coming up at the "Top of the Line" sale in a couple of weeks!

C - 11 2006 BMW M3 NA COUPE 2 3.2L I-6 MPI 32543 M Blue WBSBL93426PN64244 03/17/2009 Remarketing Services of America, Inc. ADESA Indianapolis
Options: Sequential Manual Gearbox SMG Leather 2WD SN 5P CC PL PST PW AB AD TC MS AC PSDP STB HSDP AFCH Tilt Telescp SAirbgLF SAirbgRF PDC CdinDash RearDfrost


and...

C - 21 2006 BMW M3 M3 COUPE 2 3.2L I-6 MPI DOHC 39956 M Black WBSBL93466PN64442 03/17/2009 Remarketing Services of America, Inc. ADESA Indianapolis
Options: 6 Speed Transmission 6S Leather 2WD MN 5P CC PL PST PW AB AD NS MS AC PSDP HSDP AFCH Tilt Telescp SAirbgLF SAirbgRF RearDfrost



Looks like '06's have been selling for about $28-29,000, a bit outside my desired price range but I'll certainly go watch them run, you never know.
You are correct on the pricing. I pulled up a few recent auction sales in the CT, NY area. '06's with 25k-29k miles sold for $24k-$28k. The sedans on the lower side.

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post #33 of 34 Old 03-06-2009, 04:56 PM Thread Starter
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Quote:
Originally Posted by SuedeGopher View Post
I was under the impression that auction vehicles were the ones that had the roughest lives (dealer couldn't re-sell). Am I off?
In some instances that's the case Suede, but those are the lower end public auctions. The vehicles I listed are from a lease remarketing company out of NJ that is contracted by banks and manufacturers to dispose of off-lease vehicles. Odds are both those M3's were originally leased for three years at 12,000mi/yr, and the original leasing dealer decided not to buy them from BMW when the leases were up, so off they go to Remarketing Services of America.

You do have to be cautious buying at an auction, but at a higher end dealer only auction like Adesa the cars are guaranteed to be as presented, any major repair or defect has to be announced, and you have 24 hours to check them out and arbitrate the purchase if necessary.

Quote:
Originally Posted by RC51_CBRXX View Post
You are correct on the pricing. I pulled up a few recent auction sales in the CT, NY area. '06's with 25k-29k miles sold for $24k-$28k. The sedans on the lower side.
Thanks for the research, miles and color are right on these two, would expect them to bring high 20's. Which of course if you check retail pricing and scan some ads on the internet, is about $10,000 less than most are asking for 2006 models so still a very good deal.

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post #34 of 34 Old 03-06-2009, 06:45 PM
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Ah, thanks for the education. The more you know!

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