E39 (96-03) For Sale Non Affiliated: 2001 LMB 72k Miles $18.75K - BMW M5 Forum and M6 Forums
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post #1 of 10 Old 7th December 2017, 01:21 AM Thread Starter
marko360
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Non Affiliated: 2001 LMB 72k Miles $18.75K

Found this browsing another forum. Wants to trade, but has $18,750 listed. I'd be interested if I was in the market....

https://rennlist.com/forums/vehicle-...nne-s-tow.html
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post #2 of 10 Old 7th December 2017, 06:39 AM
Black ///M10
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Checked this car out in person last week. I was the first potential buyer to see this car and took cash with me with the intention of buying it for full asking price. Took it to get checked out at Garage 54 in Glendale, CA (reputable BMW indy shop)

Unfortunately, almost every panel on the car had been painted. The quality of the paint work was very bad. The clear coat on several parts of the car had the dripping effect, faded clear coat on other parts of the car, bondo on passenger rear door for sure. I have the carfax if anyone is interested. No accidents reported on Carfax however. Maybe the only panels that were not painted were the trunk, roof, and possibly the hood. Every other panel was definitely painted. No vin stickers on both fenders as well.

The car has not been maintained throughout the current owner's near-10 years of ownership (had no service records and he told me straight-up that he had not maintained the car much while he's had it). Sway bar end link was literally broken off and dangling in the rear end, blown bushings, diff had an enormous leak (most likely damaged due to the loss of oil), blown shocks, hoses were extremely mushy, needed brakes, needed tires.

One thing that was amazing about the car is the motor and transmission did not have a single leak (besides power steering, which is not a big deal). The motor ran very good and was very quiet.

It's unfortunate that a low mileage le mans on le mans was in this kind of condition. I took cash in the amount of the full asking price with the intention of buying it on the spot (who wouldn't? 76k miles, 2-owner, le mans on lemans for $19k). However, I felt reluctant even offering $10k for this car, which he politely declined.

My intention is not to bash on the owner, he was a very awesome person. Looks like the paint work was done before he owned the car. Just giving honest and un-biased information for any fellow board member who is going to invest their time looking at this car, as I had law school finals but couldn't focus for 3 days, impatiently waiting to buy the car.

Arty

Current Garage:
78k mile Garage-Queen 1999 Turbo M3 [585whp/608wtq]
2002 Bluewater M5 [Dinan S1]
2001 Imola Red M5
INTERIOR
Black/Imola Red Interior
Mark IV Navi Upgrade
Dice IPOD Integration
Alcantara Shift and Ebrake Boot
ENGINE
Evolve Alpha N Tune
IATS Relocation
AFE Dry Element Drop Ins
DRIVETRAIN
Dinan Front Strut Bar
Dinan Rear Swaybar
Dinan Springs & Koni Sports
Rogue SSK & Trans Mounts
Brake Ducts
FORMER
'98 Estoril Blue M3
'96 SC'd Techno Violet M3
'02 Carbon Black M5 [Dinan S2]
'06 Interlagos Blue E60 M5 [21" 3 pc. Hartge wheels]
'97 RB25det 240sx [485 whp]
'17 Audi A6,
'99 Evergreen M Roadster

Last edited by Black ///M10; 7th December 2017 at 06:42 AM.
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post #3 of 10 Old 7th December 2017, 02:57 PM
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Quote:
Originally Posted by Black ///M10 View Post
Checked this car out in person last week. I was the first potential buyer to see this car and took cash with me with the intention of buying it for full asking price. Took it to get checked out at Garage 54 in Glendale, CA (reputable BMW indy shop)

Unfortunately, almost every panel on the car had been painted. The quality of the paint work was very bad. The clear coat on several parts of the car had the dripping effect, faded clear coat on other parts of the car, bondo on passenger rear door for sure. I have the carfax if anyone is interested. No accidents reported on Carfax however. Maybe the only panels that were not painted were the trunk, roof, and possibly the hood. Every other panel was definitely painted. No vin stickers on both fenders as well.

The car has not been maintained throughout the current owner's near-10 years of ownership (had no service records and he told me straight-up that he had not maintained the car much while he's had it). Sway bar end link was literally broken off and dangling in the rear end, blown bushings, diff had an enormous leak (most likely damaged due to the loss of oil), blown shocks, hoses were extremely mushy, needed brakes, needed tires.

One thing that was amazing about the car is the motor and transmission did not have a single leak (besides power steering, which is not a big deal). The motor ran very good and was very quiet.

It's unfortunate that a low mileage le mans on le mans was in this kind of condition. I took cash in the amount of the full asking price with the intention of buying it on the spot (who wouldn't? 76k miles, 2-owner, le mans on lemans for $19k). However, I felt reluctant even offering $10k for this car, which he politely declined.

My intention is not to bash on the owner, he was a very awesome person. Looks like the paint work was done before he owned the car. Just giving honest and un-biased information for any fellow board member who is going to invest their time looking at this car, as I had law school finals but couldn't focus for 3 days, impatiently waiting to buy the car.
stuff like this is why this board is so great

Sold - 2000 M5 Avus/Silverstone
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post #4 of 10 Old 7th December 2017, 06:06 PM Thread Starter
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Thanks for responding with that info. You may haved saved someone a lot of trouble that I caused! By the numbers it seemed like a great deal.
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post #5 of 10 Old 8th December 2017, 12:02 AM
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post #6 of 10 Old 8th December 2017, 07:33 AM
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I was getting ready to fly to Cali; thanks!
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Originally Posted by marko360 View Post
Thanks for responding with that info. You may haved saved someone a lot of trouble that I caused! By the numbers it seemed like a great deal.
Anytime fellas. Trust me, I was REALLY excited too because the asking price is truly amazing. I paid near that price for my '01 Imola on Imola with 119k miles exactly one year ago from M5board-member Heyhouse. He daily drove the car, putting over 60k miles in 5 years, but he never spared a single penny maintaining it. After seeing this lemans car made me truly realize how miles are so irrelevant when it comes to high maintenance cars. MAINTENANCE > low miles. My car has 126k miles as of today but runs, drives, and looks like a car with <50k miles.

Arty

Current Garage:
78k mile Garage-Queen 1999 Turbo M3 [585whp/608wtq]
2002 Bluewater M5 [Dinan S1]
2001 Imola Red M5
INTERIOR
Black/Imola Red Interior
Mark IV Navi Upgrade
Dice IPOD Integration
Alcantara Shift and Ebrake Boot
ENGINE
Evolve Alpha N Tune
IATS Relocation
AFE Dry Element Drop Ins
DRIVETRAIN
Dinan Front Strut Bar
Dinan Rear Swaybar
Dinan Springs & Koni Sports
Rogue SSK & Trans Mounts
Brake Ducts
FORMER
'98 Estoril Blue M3
'96 SC'd Techno Violet M3
'02 Carbon Black M5 [Dinan S2]
'06 Interlagos Blue E60 M5 [21" 3 pc. Hartge wheels]
'97 RB25det 240sx [485 whp]
'17 Audi A6,
'99 Evergreen M Roadster
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post #7 of 10 Old 8th December 2017, 05:39 PM
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Garage
Dam shame . I was eye balling this car too.

Thanks for the info!

2003 BMW 540i [Sterling Gray / O5SW M5 Black Interior]
[Msport] [Mods from A-Z] [Two-Tone Interior]
The one true authority of E39 Trim. --E39 Trim Information Thread [Click]

For Sale:

2004 BMW X5 4.8is [Black/Black] [Click]
E39 OEM Refreshed Xenons with new DJ Auto euro lenses! [Click]
E60 Windshield washer sprayer nozzles "Fan" style [Click]
E39 HVAC Buttons [Click]
Got Broken E39 Rear Quarter sun shades? [Click]

Random stuff I don't list on the board: https://www.ebay.com/usr/dking056

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post #8 of 10 Old 10th December 2017, 07:29 PM
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I was this car on craigslist for about 10 days, I was about to contact the seller to see the car in person. But the ad was gone and it doesn't show up on the search. I had a weird feeling about the price though: low miles le mans blue with that interior for just $19000 when similar cars with more mileage are going for higher price? Looks like my suspicions were justified...
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post #9 of 10 Old 10th December 2017, 10:36 PM
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Quote:
Originally Posted by Dreamer_of_Bimmer View Post
I was this car on craigslist for about 10 days, I was about to contact the seller to see the car in person. But the ad was gone and it doesn't show up on the search. I had a weird feeling about the price though: low miles le mans blue with that interior for just $19000 when similar cars with more mileage are going for higher price? Looks like my suspicions were justified...
It's still for sale. His Craigslist post probably just expired. It looks like he's trying to sort out a few of the problems, like the dangling sway bar in the rear. His understanding was that if he sorts these things out, he'll be able to ask $25k for the car as opposed to his current asking price. I tried explaining that wouldn't happen, but he begged to differ. Nonetheless, I hope he gets top dollar for it. The more cars like that sell for top dollar, the more the value of our beasts goes up.

Arty

Current Garage:
78k mile Garage-Queen 1999 Turbo M3 [585whp/608wtq]
2002 Bluewater M5 [Dinan S1]
2001 Imola Red M5
INTERIOR
Black/Imola Red Interior
Mark IV Navi Upgrade
Dice IPOD Integration
Alcantara Shift and Ebrake Boot
ENGINE
Evolve Alpha N Tune
IATS Relocation
AFE Dry Element Drop Ins
DRIVETRAIN
Dinan Front Strut Bar
Dinan Rear Swaybar
Dinan Springs & Koni Sports
Rogue SSK & Trans Mounts
Brake Ducts
FORMER
'98 Estoril Blue M3
'96 SC'd Techno Violet M3
'02 Carbon Black M5 [Dinan S2]
'06 Interlagos Blue E60 M5 [21" 3 pc. Hartge wheels]
'97 RB25det 240sx [485 whp]
'17 Audi A6,
'99 Evergreen M Roadster
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post #10 of 10 Old 16th December 2017, 09:08 PM
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Originally Posted by Black ///M10 View Post
After seeing this lemans car made me truly realize how miles are so irrelevant when it comes to high maintenance cars. MAINTENANCE > low miles.
Exactly. Makes for some great purchasing opportunities, particularly when buying from a board member.

--Peter
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