E86 value - have they got it wrong?

[WillHas]

How are E86 values holding up?

After more than 2 years ownership I decided earlier in the summer to sell my lovely Midnight Blue E86. Nearly 100k miles, in rude health, and still a thrilling drive.

With a fresh MOT and full Inspection II service I tried my luck with a PistonHeads online auction. Without any prompting from me they placed an estimate £8-10k on the car based on its wonderful condition, which seemed reasonable compared with other cars listed in the classifieds. But no bidders got close to the reserve price. No sale.

Since then, the car has been on Car and Classic - first at £8950 and then reduced to £8250 based on the PH estimate. And it's still for sale!

There's only been one viewing (who went on to buy a more expensive car) and a handful of messages indicating they didn't want to spend more than £6.5k - without seeing the car.

Before I delete the ad on Car and Classic, I'd love to hear your views on values. Any tips how to get the car sold also gratefully received.

 

[j3nks79]

Values have tanked over the last 12 months.
Interest rates high. Food prices energy etc all gone up.
People don’t have the disposable money for toys.
Simple economics.
Be realistic with your value and it will sell. Simple as that.

 

[WillHas]

Thanks - I agree.

 

[Fred Smith]

There is a thread called "E86 price trends..." on this forum - take a look!

I started looking in Feb and bought in March. When I started looking I would have come see yours at £10k asking... I suspect I would have thought it was worth £8k or £9k, but I am not sure I'd have been prepared to pay that much for one.

I bought a pretty cheap high miler. I am on the look-out for a better one in the mid to long term (and I like yours!) but as of right now I already own one so if I were to make an offer it would be a cheeky one.

If I owned your car I would want to get £8k for it, but I would certainly fear that I would achieve a lot less. If you contacted him again and encouraged him to take a look I would not be surprised if the £6.5k guy ended up as a no show or offering sub £6k.

On the other hand (subject to seeing it up close) someone might see it at £8k and say "it's local, right colour, mileage not too bad, like it, better than others I've seen, I'll pay asking".

I'm tempted to say £5k is the "I want it gone in 72 hours" price, £6.5k is the market value (the amount you can EXPECT to get in three / four weeks), and £8k is the "might get lucky at asking if you are willing to advertise it for 3 or 4 months" price (the price you can HOPE to get).

 

[Zedebee]

I will hazard the wrath of the forum by suggesting that many, if not most, E86s are in rude health and wonderful condition compared to many other models of the same vintage. Therefore, regardless of how “good” yours is, it is not going to be standing out from the others available.

E86s are also thought to be rare, largely based on the “howmanyleft” stats, whereas there are probably about 2,000 remaining in the UK with at least 100 for sale at any one time.

As a benchmark, £10k might get you a <60k manual sport in good condition. As yours is coming up to 100k, it is unlikely to fetch more than £7k in the current market, although the rather rare colour may help it. Bi-xenon headlights, 10 speaker hi-fi and M-sport seats are all desirable options if you have them. 108-style alloys are starting to be a mark-down because they need regular refurbishing compared to single piece wheels.

A sensibly priced Autotrader ad will give you the best chance of selling IMO. Good luck.

 

[WillHas]

I'm tempted to say £5k is the "I want it gone in 72 hours" price, £6.5k is the market value (the amount you can EXPECT to get in three / four weeks), and £8k is the "might get lucky at asking if you are willing to advertise it for 3 or 4 months" price (the price you can HOPE to get).

Makes sense. I guess I was seduced by the PH estimate and have clung to that. I'll re-evaluate.

 

[WillHas]

I will hazard the wrath of the forum by suggesting that many, if not most, E86s are in rude health and wonderful condition compared to many other models of the same vintage. Therefore, regardless of how “good” yours is, it is not going to be standing out from the others available.

Fair point.

I believed the how-many-left stats, too. Why are they so wrong?

 

[Beerman]

PH auctions aren't going very well. Every time I've looked cars aren't getting anywhere near their estimations and going unsold.

Selling an E86 has never been that easy. They've often taken time to sell.

Although they are older cars buyers still want to see the car prepared to high standard. Any refurbishment required puts buyers off. There is a couple of dealers who are commanding large premiums for Z4s. Finance and trade ins help.

 

[WillHas]

There is a thread called "E86 price trends..." on this forum - take a look!

I've read it now. Thanks!

 

[mr wilks]

I think your C & C advert / pics is good , i think the ask / miles are both good " but " i also think your biggest hurdle to get over is the lack of heated seats + the beige trim :? its not every buyers first choice so your already narrow field of buyers became even smaller :| j m o

 

[Mr Tidy]

Sadly prices have dropped considerably this year and cars seem to be taking ages to sell. A year or so ago it might well have fetched in the £8-10K range.

Someone on here is trying to sell a 148K mile Coupe for just £3,999!

But they're great cars and will sell for the right money if you find the right buyer, so good luck.

 

[WillHas]

Although they are older cars buyers still want to see the car prepared to high standard. Any refurbishment required puts buyers off. There is a couple of dealers who are commanding large premiums for Z4s. Finance and trade ins help.

Mine hasn't had any refurb or pro preparation - so I take your point. Thanks. I have been honest in the description and people can see that some refurbing will be needed at some point. But it still presents very well.

 

[Zedebee]

I will hazard the wrath of the forum by suggesting that many, if not most, E86s are in rude health and wonderful condition compared to many other models of the same vintage. Therefore, regardless of how “good” yours is, it is not going to be standing out from the others available.

Fair point.

I believed the how-many-left stats, too. Why are they so wrong?

https://z4-forum.com/forum/viewtopic.php?p=2036934&hilit=Howmanyleft#p2036934

 

[STC_Zed]

They seem much harder to sell privately for good money.

Zachary Luke see to move cars pretty quickly, obviously aided by warranty / finance etc and for strongish money. They do seem very spec dependent though; I wanted one with a none black leather, heated seats, cruise and xenon’s which reduced the pool of cars quite dramatically at the time I was buying.

I probably paid a bit over the odds, but I like my car and I’m not looking to sell any time soon. Am however prepared to take a bit more of a loss on it than other cars I’ve moved on.

 

[Z450]

I agree with you options do seem to make a difference with Xenon’s and heated seats being the popular ones!

 

[iamnotme]

They seem much harder to sell privately for good money.

Zachary Luke see to move cars pretty quickly, obviously aided by warranty / finance etc and for strongish money. They do seem very spec dependent though; I wanted one with a none black leather, heated seats, cruise and xenon’s which reduced the pool of cars quite dramatically at the time I was buying.

I probably paid a bit over the odds, but I like my car and I’m not looking to sell any time soon. Am however prepared to take a bit more of a loss on it than other cars I’ve moved on.

I got mine from Zach in January and I know what he paid for the car. He seems like a nice bloke with a passion for the cars, and I think that helps when talking to him as you feel like you're getting a service which adds value. He even checked in with me a couple of times after I bought the car to make sure everything was ok.

Looking at the cars currently the value does seem to have dropped a little, I don't regret paying what I did, I absolutely love the car and the supercharger makes a lovely noise

 

[WillHas]

That's great to hear. Thanks for posting. :driving:

 

[WillHas]

Maybe not heated seats today.. Scorchio! Thanks.

 

[STC_Zed]

They seem much harder to sell privately for good money.

Zachary Luke see to move cars pretty quickly, obviously aided by warranty / finance etc and for strongish money. They do seem very spec dependent though; I wanted one with a none black leather, heated seats, cruise and xenon’s which reduced the pool of cars quite dramatically at the time I was buying.

I probably paid a bit over the odds, but I like my car and I’m not looking to sell any time soon. Am however prepared to take a bit more of a loss on it than other cars I’ve moved on.

I got mine from Zach in January and I know what he paid for the car. He seems like a nice bloke with a passion for the cars, and I think that helps when talking to him as you feel like you're getting a service which adds value. He even checked in with me a couple of times after I bought the car to make sure everything was ok.

Looking at the cars currently the value does seem to have dropped a little, I don't regret paying what I did, I absolutely love the car and the supercharger makes a lovely noise

Yeah, he was a good guy to deal with. I’d happily buy another car from him in the future. He was happy to negotiate too which was a refreshing change for a dealer.

 

[Fred Smith]

Yeah, he was a good guy to deal with. I’d happily buy another car from him in the future. He was happy to negotiate too which was a refreshing change for a dealer.

Does he offer a warranty? Is he a trader from a buyer protection point of view (I'm not an expert but "presumably" and "he should be" seem to be correct)

I'd perhaps argue that you are paying, say, £10k.... £9,000 for a car and £1,000 for everything else - warranty, service, peace of mind, proper valeting, detailing, knowing that pretty much everything has been looked at and there's not a list of minor things to do before you even start driving it... in some or many cases that extra £1k could be a complete bargain.