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Discussion Starter #1
Hello Gents!

Just passing through. It's been a while since I have posted, but I wanted to get your advice on selling a 2001 Beast. As some of you might recall, I sold my S2 almost two years ago, so I am a little out of touch with the market . . . My buddy has asked me to help sell his stock M5 so I wanted to get your advice on the selling price. Here are the particulars:

51k miles
Titanium Silver with Nappa point leather seats and door panels
M Audio
Rear power shade
New OEM wheels and tires

KBB says about $20k, but I find that number a bit shocking. My gut says to list at about $25k . . . The paint and interior are near perfect and it pains me to think that this car is worth only $20k, but as we all know, it is whatever the market will bear. What do you think? KH
 

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You're in the Valley, right? I like the 25K number better. I bought mine (almost identical) in Seattle for $24K earlier this year.
 

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Miles and options are nice, but its a common color, you say Nappa but Nappa refers to both the standard sports seats and the extended leather pleated seats.

I'd list at $25k and take anything north of $20k, it should be able to fetch at least $22k. Add $1k to the figures if its the extended leather interior (dashboard, complete door panels, pleated seats)

$20k may seem low for an M5, but if you look at it from the perspective of being a 13 year old car still worth 1/4 of it's asking price, its not bad. Non-M e39s are sub-$10k cars all day long... in my area, non-M E39s are sub-$5k cars. With that in mind $20k seems a bit more reasonable imho
 

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Discussion Starter #4
Thank you for the help, $25k seems like the right listing number as well and leaves a little meat on the bone so that the buyer feels good about the purchase as well. I'm not looking to make the deal of the century, just a fair deal that sells in a reasonable amount of time . . . I'm happy to help my buddy, but I don't want to be on the hook for months. To gregcagle's point, if he pulls a grand off my listing price, he feels good and I'm happy too; win-win

I do appreciate the guidance, this continues to be a great community-- KH
 

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I'd say it's worth 25-27k
 

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Considering the mileage, $25k seems reasonable. I personally feel that the listings on eBay pretty accurately reflect the true selling price of a vehicle, assuming you can find one that is very similar spec and mileage to what you are trying to sell. And right now prices for e39 M5s in the sub 70k range are certainly in the mid $20,000s That will depends some on the year and spec, obviously an 03 is going to be worth a bit more then an 01, and a LMB or Imola one might fetch a bit more then a titanium silver.
 

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Good to hear from you again after all these years.

Is your friend the original owner? EAG doesn't usually purchase pre MY 2002 E39 M5s, but their website will give an idea of the top end of market. Perhaps the main thing to consider is how quickly your friend wants to sell the car. Personally, there is no way I would settle for < $25K for this car, and if I was the original owner, I'd hold out for $27K. I realize that that means waiting for the right buyer, even if that means 1 year or more...
 

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Good to hear from you again after all these years.

Is your friend the original owner? EAG doesn't usually purchase pre MY 2002 E39 M5s, but their website will give an idea of the top end of market. Perhaps the main thing to consider is how quickly your friend wants to sell the car. Personally, there is no way I would settle for < $25K for this car, and if I was the original owner, I'd hold out for $27K. I realize that that means waiting for the right buyer, even if that means 1 year or more...
I agree , it may take a while. Just be patient . GLWS
 

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I would echo the two above posts too. Assuming it is in outstanding condition inside, outside and underneath, I would properly market it and just wait. At the age of these cars now, there are fewer and fewer of them with reasonable mileage but especially ones that haven't been used as daily drivers and such. Hence true condition coupled with mileage will have an increasingly strong pricing function as time goes on. In fact, as time piles up, condition and how it is kept will figure more and more into the pricing equation with mileage, within reason, falling to the secondary role for cars relatively close in mileage.

All that said, after 5 years or so of appreciating pricing on E39 M5s (nicely kept, low mileage cars) after the 2009 bottom, it appears the market has flattened out in the past 9-12 months. If you find an interested party close to your asking price ($25-27k?), I would close the deal.
 

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I tell ya what... I can't help on the actual price, but don't use EAG for comparison unless the car for sale is 100% with everything fixed, all services up-to-date, new tires, etc. like they do.

I've sold a few M5s and recently just sold a non-BMW. My rule is to price it where you think it should be, and then continue to lower the price until you get some action. Depending on how much of a hurry you are in, this could take weeks, months or years. My most recent sale was a bit of a typical nightmare, with lots of people emailing and calling but few showing up for a look, and of those people, either they never follow-up, or they can't get financing, or they want to beat you up over the price. I ended up with a very quick, painless sale to a used car dealer that was still $2K over the Carmax price.

M5s, natch, are a different animal and require special marketing. And because it is a rare, expensive, old car, patience will be required.
 

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Discussion Starter #12
Thanks for the help! My buddy isn't the original owner, but has taken very good care of the car, I wish I was in the market for a Beast! :) I agree with Beemer Guy, I recently sold a Porsche using the same method, I priced it a little above fair and knocked off $250/week until it sold. I wasn't in a huge rush, but I had already bought my next Porsche and was at least motivated to get the old one gone! Eventually it hit a level that generated a lot of activity and an actual buyer. I think I let it go just below what I should have and the buyer thought they paid just a little too much . . . so, I guess that means it was the right price!

For the record, I have the M5 listed at $25k and will probably stick pretty close to that number. I'm not in a rush and neither is he, but it would be nice if the "right" buyer can find me . . . Soon HaHa In the mean time, I get to drive it and remember the fun days of my old M5, though I have to say the stock shifter blows! It feels quite sloppy compared my old SSK, I feel like I could deal with the lowered HP, lack of S3 suspension and maybe even the quieted exhaust . . . The SSK, however, is a MUST have. Thanks for letting me reflect on my old ride, KH
 

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Discussion Starter #13
I would properly market it and just wait.
Thank you, part of doing that, is getting off my butt and taking some good pictures, the ones I have right now blow . . . It seems with kids and travel, I have not had the opportunity pull out my gear and do the car justice, it seems it is always too bright or too dark to take proper pix. And so starts the annoying journey of Craigslist . . . I'm hoping to pull a lead or two off this board, but you gents already have an M5 ;) KH
 

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Discussion Starter #15
Assuming it actually is perfect I would probably list at $28k and take anything over $25k.
To give you an idea of how insane this dude is, three wheels had SUBTLE rash and to make sure all his wheels matched, he bought four new OEM wheels, the car is in really good shape :) KH
 

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Is the car for sale still? I am in Montclair in Oakland and I would love to see some pics of the vehicle. I have cash to make a deal and am wondering about more history, info of exactly what options it has.. etc?
 

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I'm hoping to pull a lead or two off this board, but you gents already have an M5 ;) KH
Nah, lots of lookers here. I sold my last two E39 M5s from the ads placed on this forum.
 
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