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Discussion Starter #1
First of all this is not an Advert !! I am genuinely puzzled.. and want to ask your thoughts.

I have advertised my beast for several weeks now in Autocar, Autotrader and recently Top Marques plus a number of websites.

But I'm really suprised in the lack of interest.

She is a Dec 02 Le mans blue with 25k on the clock lots of toys etc - great condition inside and out etc.

Is it the fact I am selling her privately ? is it the price (£37.5k ono.) ? or am I advertising in the wrong places ?

Similar cars from dealers are going from £39.5k - £41.5k.

My only thoughts is that people looking in this price range go to a dealer ? I can kind of understand that but she's still got over a years warranty - so should cover most things ?

Anyhow like I say I am bemuzed - I hate to have to sell her to a dealer for low money only for them to inflate the price way beyond what I was asking.

Appreciate your thoughts
 

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If you were in the US, I know more than a few people who would be interested. Maybe the intrest in the UK isnt there??
 

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baf3472 said:
If you were in the US, I know more than a few people who would be interested. Maybe the intrest in the UK isnt there??
I think the M5 market in London is a rarefied atmosphere and almost non-existent in the rest of the UK(few people know what theyre getting although the recent spate of magazine articles has helped a lot!). I.E. There aren't many people involved. Also I think your price is a lottle toppy, if i were buying from a dealer i would expect to pay around a 10% premium as it would attract full dealer support from the sales side.. (anything goes wrong they fix it etc). If you're spending that much money i guess people are reluctant to do a private purchase but will be tempted by a better price .. (try dropping it to 35k and see if you do any better..you have to remember people these days won't even make an offer if the price is too high never mind come look..) Also you need to be really patient with sales of this sort and pray for a bit of luck!

I bought a 1999 M5 E39, with absolutely full service history and in really great condition and with quite low miles.. for less than half what you're asking for a 2002 car. Maybe, it's devaluation is more than you think?

Thought about part-exing?

Good Luck..!

Cheers
DMC
 

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Obviously the market is not there at that price. Cut the price. Why not enjoy it for another year or two? You know that you will miss it.

I just picked up a 1999 model (all that I could afford) for just over half your asking price. All the ones I was interested in went before I could even get a look in.

Chin chin

Pip
 

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Neil I think you're asking too much mate :confused:

Welcome to the board Pip :M5thumbs:

Guys... can you make our meet next Sunday?
 

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now the m5 market is a bit bizarre to say the least... this may sound sad, but what the hell... i've been monitoring m5 sales on the bmw.co.uk website, and i have also been popping into my local dealer - whitehouse, sidcup, regularly so that i get a test drive of their e60 demo... anyhows, hexagons of highgate, north london, seem to be stocking up on late m5's on their forecourt, but don't seem to be able to shifht them... my local dealer has shifted 6 in the last three months, the last 2000 car selling for the asking 29995 within a week!!!!!!!!!!!!

is it then to do with geography... i know autotrader is location based.. maybe the market in kent is better... top marques isn't though... the other thing is price... i think once you are below 35K, you are within the grasps of ethusiasts who can't go to 35+... i was going to buy a new 3 coupe then plummed for an m5 instead... maybe you should hold on for another year or so....

as for competing with a dealer... all you need is warranty if the car is in good nick...which your car has...

as for the other replies, not sure... low mileage 99 cars with warranty for under 19k... the only cars i've seen advertised for less than 20k have 60k+ and no warranty to speak of...
 

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Neil,

Your problem is directly related the numerous issues; currently the market is saturated with E39 M5s, plus the pending release of the E60 M5 doesn't help,
if think you're having problems selling an E39 take a look at the E34 M5 market, the E39 M5 has definitely caused a severe drop in price for E34 M5s
and as everyone is aware of the E60 M5 is having the same effect on the E39 M5. Before the release of the current M3/M5, spotting an M-series was a rarity, but with 20,000 M5s built in the last 5 years they're everywhere. Too many sellers and very few interested buyers. It sad to see a 52000 pound car sell for less than 20000 pounds within a four year period. IMHO
they are definitely not worth it, good luck with the sale
 

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Discussion Starter #8
Thanks guys

Niavely I thought people would not be put off by the price and would expect to barter - e.g. I was expecting to drop some on the price. Looks as if this was not the case.

I think the geographic is an interesting one - I live in Nottingham and we have loads of ALPINAs around here but I've yet to see another M5 !

Autotrader.co.uk shows all cars so I'd have thought people would check there too.

Garcia - I was under the impression only 2,595 RHD E39 M5's were produced - perhaps you mean the increasing amount of M3s ?

Anyhow - you live and learn !
 

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Neil,

I was thinking in terms of total number of M5s produced worldwide instead of just the UK market.

Garcia
 

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In the states, dealer cars sell for about 10% over private owner sales. When you're selling a car in that price range, the typical buyer wants the security & backing of a dealer. In rare cases, a dealer will make after-sale adjustments to please the customer. I've seen dealers eat bodywork & wearable item repairs and even buy back cars that had a hidden defect.

You should not try to fetch top market price or you'll be left with no sale and more devaluation.

Another serious issue you're dealing with is the seasons. Resale value on rear wheel "fair weather" cars in the M5 price range will dip about 10% after August. Folks are looking for 4 wheels drive cars this time of the year while folks like you are trying to unload sports cars before winter. If you want top dollar, you must aggressively sell in spring thru early summer.
 

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fastsaloons said:
Thanks guys

Autotrader.co.uk shows all cars so I'd have thought people would check there too.
yes, you can do national searches with both autotrader and exchangeandmart, but i bet you most people search up to 100 miles at a push... i was looking for a mini recently and would search no further than 50 miles... so someone on the south east searching for an m5 would not see your car...one suggestion would be if you readvertise, see if they will let you use an alternative post code.. use mine if you want da5...
 

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Discussion Starter #12
Hi Guys

Decide to drop the price on the advert to £35,500. Change should be in all web based adverts...

Thanks for your help - still thinking about the geography suggestion.

Thanks

Neil
 
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fastsaloons said:
Hi Guys

Decide to drop the price on the advert to £35,500. Change should be in all web based adverts...

Thanks for your help - still thinking about the geography suggestion.

Thanks

Neil
How much would a dealer offer you for your M5?

Cheers, Daniel.
 

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Discussion Starter #14
they talk around £32k
 

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Re: Help please - could you tell me why i'm struggling to get any interest for my M5

I was in the market a couple of months ago to buy a slightly older M5 than yours in the London area. There seems to be a big gap between the prices in private ads vs what BMW are asking for similar cars (both with BMW warranties.) Non BMW dealer prices seem to be close-ish to the private ones.

As an example a '01 M5 with around 50k and a BMW warranty was priced at about £25-26k in private ads, but you'd struggle to find one for less than £30k at a dealer. Glass' guide were quoting prices that were closer to the BMW dealier ones when I checked them.

My guess is that prices have dipped recently (due to the E60 release coming up?) and that BMW have failed to adjust their prices to match.

Having said all that, I ended up getting mine from a BMW dealer anyway! I paid £27500 in the end - I thought 10% as a dealer premium was reasonable.

Bottom line is that I wouldn't base your selling price on the BMW dealer prices, because I don't think the dealer is selling many at that price either. If you drop your price a little you should have plenty of interest from buyers!
 

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I echo the comments made earlier. It must be a European thing. I tell you honestly that if you were in or around the NY area here in the states I would have bought it. I was looking for a 2001+ Lemans Blue M5. I couldn't find one so opted for a Jet Black model similar to my older 540. I paid too much for it but it was a very clean 2002 with only 9K miles on it. I think part of the problem now is that you can find a fairly low milage M5 2002+ with aftermarket modifications done to the car at about the same price you can find a dealer certified car. I know for sure that those of us buying the M5 are generally into performance so people tend to look for a modified car now. After all the newest of the E39 models are now approaching 2 years old.
 

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Re: Help please - could you tell me why i'm struggling to get any interest for my M5

Neil, here's something nobody has mentioned - dealers offer finance. You are asking for cash.

And -

A check on Autotrader tonight shows seven E39 M5s for under £20,000, including one with big spec, 60,000 miles and extendable BMW warranty. That's half 2002 money.

Garcia - I think we met today (I looked at your red M5, if it was you).

Greetings, everyone - first post.
 

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Discussion Starter #18
She's gone :crying2:

She's gone :crying2:

I can't quite believe it.

In the end I actually sold it to Hexagon BMW - so expect it to appear soon on their website at an inflated price. The deal for me wasn't too bad or too good - but given my situation it worked.

As for her replacement - well she's been replaced by 2 cars - A family car = Renault Grand Espace and a fun car for me = Subaru Impreza Sti 4 (race prepped)

I can't quite believe it. (did I already say that ?)
 

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Glad it all worked out for you Neil. Hope you still visit the board :cheers:
 

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I don't understand that Neil - I was offered 34k by a dealer about 8 weeks ago and mine is 6 months older than yours. They said it would have been more if I hadn't made a lot of upgrades and installed a disco.......

I think the key is to check dealers that have a big 'M' bias and who don't have any in stock........

Roger
 
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