Description: This car looks and drives amazing! I have only owned this for a few months, but need to get something cheaper so I can invest in a small cabin up north. I hate to part with this beauty, but I know someone will appreciate and love it as much as I have. BRAND NEW TIRES ($1,000) 6/12/06. This car comes with an additional set of winter tires on 17" rims that have great tread life left. Car has a Valentine V1 Hardwired detector. I also put nice rubber all-season M5 mats in car that will be included. Rare combo Jet Black w/CaramelLeather. Looks extremely nice. I recently updated the firmware on the Navigation and updated the Nav Discs. Some minor exterior scratches were on the car when purchased. Own the "Ultimate" Ultimate Driving Machine.
* Maticulous Detailed Service History/Reciepts
* M Audio w/enhanced bass
* Ski Bag
* Fold Down Rear
* $73,520 Original Sticker
Looking for $30,500. That is cheap considering what I paid and what I put into the car in only 3,000 miles. Buyer can pay for BMW PPI ($200) before purchasing if wanted at Motorwerks BMW here in Minneapolis.
I will post some better pics tonight. Car is is awesome shape, just wondering why there hasn't been much interest? Any ideas on why this isn't generating much traffic?
Can't really say. What I notice is that you are only an owner for a few months. That would worry me a little, especially on a high cost to repair car like the M5. Additionally, very few posts, so no one knows the owner or the car very well. What you paid for it a few months ago isn't terribly relevant; you assume it was a fair price back then. It may not have been and the market may have changed in the last few months.
The price seems ok actually, although you might see what they are rolling through the auctions for to get an idea of wholesale. You know dealers will mark them up. Ebay is probably pretty close to a wholesale market, so sales may give you another yardstick to measure value. Good luck with the sale. BTW, very nice color combo IMHO!
I agree with GSFENT. What you paid a few months ago is somewhat irrelevant to what you can expect today. Someone posted the Manheim auction prices for 2001s a couple of weeks ago in the general forum. I think your price might be a touch high based on the auction prices, but that depends a lot on condition, and if your car is in great shape, it might warrant a premium. Regarding depreciation, one of the points that stood out to me was that the projected selling price listed in the auction data dropped by $1000 from June to July. I'm not sure whether that's just the natural depreciation curve at this point, or whether it correlates to the coming end of summer and the "driving season" for some, but it suggests that you're going to have to expect to lose some money holding the vehicle. That's not a surprising conclusion--pretty much all cars depreciate--so you just have to factor it in to your assumptions about the proper sale price.
Regarding eBay, it's tough to get a gauge on what actual selling price is. If you do a search for complete sales, very few of the M5s listed actually sell. That said, it might still give you a ballpark.
Last, it might be helpful if you were to offer to make available the PPI you had done when you bought the car a few months ago, plus all service records since you bought the car. That might assuage some of the concern about why you're selling this car after just buying it. Like GSFENT said, a potential buyer might be worried that you bought a lemon and are now looking to flip it after realizing the problems. That's probably not the case, and if not, providing that PPI and the recent records might convince someone to shell out $200 for their own inspection.
Hope that helps. I've been in the market for a few months, so these observation are just what I've noticed in doing my own searching.
Yeah I understand the hesitation on the short duration of ownership, but I am not parting with the car for any other reason than to reduce my overhead. If I was able to somehow increase my net income 25% overnight, I might be able to keep the car and buy the cabin, but that money tree hasn't quite taken root yet.