$15K Rule Out-dated?

[88m3aw]

Jim,

True. I am not asking for everything I put into it. If that was the case, we are now talking about "The 17-18K Rule".

If someone wants a very good car and don't mind about the mileage, then perhaps it is the right car for him/her.

My asking price is negotiable. I'll have to see if my price is reasonable depending on the calls/emails I get.

Jeff-
My car has 156K miles.

Thanks,
Bruce

[trent]

Originally posted by HANDBLT
Holy Cow Batman! Those markups and labor rates are insane. It should look more like this:

1. Replace lower control arms ($500) Do it yourself
2. Cracked flex disc ($80) Do it yourself
3. Faulty car alarm which drains out the battery- Troubleshoot it yourself: FREE
4. Repair and install leaky windshield washer tank $30 from dealer
5. Repair rust spot under windshield washer tank: No clue $100?
6. Repair 2 bent rear rims: replace them I just bought two very nice wheels for $130.


T

Devils Advocate:

Those prices really at not that bad considering the car is located as he said in "Northern CA." I know shop labor rates in SF and surrounding area are upwards of $100+ an hour.

Therefore, these prices are not that crazy if one does not want to work on the car themselves.

"1. Replace lower control arm ($1000)" - you needed to be more specific in what was included for a proper reference. Was this just 1 arm? Was this 2 aluminum arms? Did this include control arm bushings? (most shops do arms/bushings together)

Two aluminum arms ($261/each retail + $122/retail offset bushing set + labor in North CA ($300-400, 3-4 hours) + alignment = ~1100-1200.

HTH,
Trent

[TeamM3]

yeah, wish I could take that comment back, it really just depends on the individual vehicle, a well maintained and properly kept M3 could be worth the asking prices shown and a low mileage car could have a lot of issues and not be worth as much, it really just depends

I did claim quite a while back that I thought the $15k rule was low though

Originally posted by TeamM3
IMO those high mileage cars are overpriced, I saw lots of them during my search, many are still FS ... hello

[///Mous3]

In you guys opinion, how much is a all original '88 with 40K miles worth?

[M3 Ryan]

all origonal, no "tune-up" parts like cap/rotor/rubber all around the car?
16-20, depends on how nice it is.

[TeamM3]

Originally posted by ///Mous3
In you guys opinion, how much is a all original '88 with 40K miles worth?

a very nice one with 30k miles sold for low $20's earlier this year, some with more miles also sold in the $20k range

[///Empowered]

I heard a wise man speaking in terms of us motorsport enthusiasts. I quote "Never add it all up, it will only make you sick. Just enjoy it!"

Well folks in the interest of keeping comprehensive records on my 88 M3 I chose to use an excel sheet on my PC at home. Hence, I ended up adding it all up. Lets say it made me sick! $22,000 in parts and maintenance since August of 1997. No that figure does not include the purchase price.

Back in 1997 I was fortunate to have found a cosmetically perfect example that ran like snot. Only problem, it spun a bearing only four weeks after I bought it. Seems the engine was previously rebuilt prior to my purchase by a 'less than experienced' engine builder. No warranty due to ownership transfer. Hence the fun project of working to get a powerplant back in my beast.

Along the way it saw the typical mods, Bilsteins, H&R, all new suspension rubber and ball joints, heck, all new rubber everywhere. Brakes, lines, hoses, plugs, wires, cap rotor, chip, A/C delete, countless tires, filters, and on and on. Then two summers ago I dropped about $1200 on a professional reupholstering of the seats, well worth it! Somehow it all adds up to $22k. But, everytime I drive it, I love in and grin ear to ear!!

Mark M

[Lionel]

Hey Guys;

I'm pretty new to this as I've only joined a few days ago. However even though I don't any one I'm going to risk sticking my two cents in.

With previous experience in buying and selling of cars(in the N.Y area) I can honestly say the E30 M3 has a blue book value of about 9K. Only thing is, try and find one. If you do find one, people do take advantage of the scarcity of the cars. So it also depends on how well it's been kept and how much the buyer likes that particular car.

Hearing the maint bills, you really can't add the maint cost to the selling price. However, it will help convince some one they will have peace of mind when they buy it. So they may pay your price based on how much he wants that particular car.

Personally I payed 10K in an auction for mine(90 M3) and it only had 33 on the clock(99 now). After reading your comments I feel fortunate. My repair bills have all been for reg maint, nothing major so far.

Lionel

[88m3aw]

I have never heard of a midnight blue pearl color on an E30 M3. That must be one of the rarest color (if it is a factory color). :D

[thebusiness999]

The rule should probably be expanded to "Expect to spend $15-$17k for a cherry E30 M3" Here's my experience.

1990 BMW Red/Blk M3 133000 $14999, Los Angeles, CA

I bought the red one at the beginning of this month for $13500. The repairs/modifications to make the car perfect are as follows:

>Siwtched to a JC chip since the APE chip on it was a piece of junk. $250
>Installed the stock airbox (included w/ car) and bought a K&N panel filter. $50
>Installed a VSR exhaust and used Borla muffler to replace the MIDAS CRAP exhaust that somehow got installed on my car. $1150
>Had to replace the transmission mount and the rear semi trailing beam because of a bad control arm mount. The passenger rear tire wasn't holding steady alignment through turns. $600 including installation
>New spark plugs

I ended up spending about $2100 after the intial purchase, bringing the total price up to $15600. After the repairs and modifications the car feels half its age. I spent a good amount of money but I'd say the interior, undercarriage, trunk, and engine bay are cleaner than the 2002 WRX I was driving before this M3.

I might spend a little more cash on an EVO exhaust cam gear, upgrade the cooling and oiling system, and adjust the valves (i think it could use it in future miles). Besides that, I'm just going to modify my own skills until I can take the car to it's limits (and beyond )

It puts a grin on my face every time I drive it. My WRX was nicely modified and well set-up, but the M3 is sooo much fun. It's responses feel organic in comparison...this is serious driving pleasure, no matter what the speed.

You all seem like a cool crowd so far. I look to the coming years of M3 ownership :D

Paul

[Lionel]

I agree with Paul;

If it's cherry you will pay a high price. Otherwise, you'll just pay it the other way in the way of repairs.

In the buying and selling, here is my experience. You advertise 15K, the buyer sees the car how much work is needed to bring the car back to tip top shape. Then the deductions or negociation begins. If the car is cherry it will make it very hard to negotiate a lower price. So yes some will pay your price that way.

To the man with the rare color comment, thank you for your interest. It's not an original color just something I wanted. I own a body shop so it's something I did on my free time. I happen to like pearl blue even though it's not an original BMW color. It's actually a HOK color.

Lionel

[///ethirty]

15 K rule for nearly any e30 is a thing of the past, for a MINT car, you are looking well over 20k. A true showcar STOCK, is at minimum 20k and within 10 years as the numberof these cars depleted, they will be growing exponentially in value, they are one of very few cars that are still desirable with only limited numbers. of the Approx 5000 cars built, between 1-2K are no longer roadworthy, of the 3-4K remaining, very very few, probablyles than 500 have less than 80K. Those cars with less than 80K will be worth a ton of money, now and in the very near future. The majority of the M3 e30's on the road have over 100K and have been abused in some way or another.

[HANDBLT]

Originally posted by ///ethirty
15 K rule for nearly any e30 is a thing of the past, for a MINT car, you are looking well over 20k. A true showcar STOCK, is at minimum 20k and within 10 years as the numberof these cars depleted, they will be growing exponentially in value, they are one of very few cars that are still desirable with only limited numbers. of the Approx 5000 cars built, between 1-2K are no longer roadworthy, of the 3-4K remaining, very very few, probablyles than 500 have less than 80K. Those cars with less than 80K will be worth a ton of money, now and in the very near future. The majority of the M3 e30's on the road have over 100K and have been abused in some way or another.

I've heard that argument for years. Go back and review the Roundel calssifieds from the last 5-7yrs, nothing has changed. All the new "tuner" cars have lowered the cars need somewhat.

T

[///ethirty]

I have to disagree with the statement that new tuner cars have decreased the "need" for our e30's. Our cars cannot be compared as these cars are not bought to be drag racers, but track cars, and there arent many cars that people can afford that are as good on teh track as these cars are stock. My car has personally never seen the track, but i know from reading that these cars are amazing. I bought my car solely because I know that I am a huge BMW enthusiast and I love m3's especially e30's. I think these cars are specific to a unique buyer and those buyers will be around forever and these cars will over time increase in value. I bought my car as an investment.

[tominizer]

All I know is that I have a parts car (no motor or tranny) that I think I'm now going to just clean up and store away............. as an investment !!!! :D PArts is where it's all going to be at ladies.


"Oh, you say you need a rear control arm eh.................. I have one.............. $10,000" :D "And an original wiper blade........... oh around $5000" :nahnah: "........... that heater control knob.......... oooooooh, that's rare. $200 for the plastic doo-hickie."