$89,000 Z8 SALE AT BARRETT-JACKSON

[stev0001]

2001 SILVER Z8 (#61052) SELLS FOR $89,000 plus fees ($95,700) at BJ-Scottsdale on 3/26/21

I just got pinged by an app I have that follows certain auctions sales (Hammer Price) that last night a 2001 BMW Z8 sold at a hammer price of $89,000 at BJ-Scottsdale. The car had 69,000 miles and the Carfax reported a 2009 accident with "minor damage" after hitting a parked car. The sale included the hardtop, storage rack and car cover. Overall, the silver/black car looked like a decent driver. Notably, the car went through the auction somewhat late in the evening.

Clearly, this is an outlier sale where all of the stars aligned for one lucky buyer to acquire a more than functional Z8 driver at 2010 prices thanks, in part, to timing and BJ's insistence on a no-reserve format.

Alternatively, one may wonder if this is a "sale" at all or the seller "buying back" to protect his/her interests. The next few months should tell. In any event, the sky is not falling for Z8 values and, more importantly, it is a gorgeous day here in the Bay Area and I think mine needs a bit of road exercise this afternoon!

Steve

[Norcal]

Thanks for the info Steve. Enjoy the beautiful day. I’m in Danville.... awesome!

[2112]

A buy back from Craig Jackson would still be pricey.

Buyer's and seller's fees? 20-25%?

[beamon]

A buy back from Craig Jackson would still be pricey.

Buyer's and seller's fees? 20-25%?

I happened to be watching it live on TV Friday evening. I was surprised and excited to see the Z8 roll up. I didn't hear any mention of the accident history. I did see the miles were high. The announcers didn't really discuss values much except noting that it was a good deal as I recall. They did show some dude in the audience who won it and seemed happy so I assume it was a new buyer.

[mjunco1054]

I happened to be watching it live on TV Friday evening. I was surprised and excited to see the Z8 roll up. I didn't hear any mention of the accident history. I did see the miles were high. The announcers didn't really discuss values much except noting that it was a good deal as I recall. They did show some dude in the audience who won it and seemed happy so I assume it was a new buyer.

$89,000 is a great purchase for a car with 69,000 miles. I just read in the latest Sports Car Market magazine that a US Z8 Alpina that was sold to someone in Italy in 2007, sold in a European auction for $387,456 USD. The car had 9,972 kms.

[macfly]

That's an insane bargain, the poor seller must be devastated!

[Musta10000]

Was it no reserve?

[2112]

Was it no reserve?

Only Craig Jackson and his closest friends and best customers can have a reserve. Typically only on the super expensive stuff.

I know someone who sold at one of the BJ January auctions about 3 years ago. He was promised a Saturday afternoon/evening time slot.

His car crossed the block at just before midnight. The place was nearly empty, only one serious bidder. After fees, he received about 1/2 what he was expecting based on other auction site sales.

Oh, and you do sign away all your rights before they accept a car to auction.

Seller beware.

[vzben]

Very good price indeed. This is the second Z8 sold at a surprisingly low price in the US in a few days. The US market seems to be progressing compared to the European market. In Europe, the supply has dropped sharply since the beginning of the health crisis: about 50-60 vehicles compared to about a hundred before. But prices are falling: https://www.classictrends.eu/automob...id=2&modele=z8 I guess that supply will increase after the crisis. We will see.

[boomster]

I'm not sure what you mean when you say "The US market seems to be progressing", but aside from some outlier low prices for a couple of cars that may have been somewhat neglected and/or had some negative history, my sense is prices are rising for good cars. The recent sales on BAT seem to be very strong, the red over crema car selling for $250k and the black over red car going for $237k. As always, color, condition and mileage play a big role in pricing.

[vzben]

I'm not too sure about the trend in the US, I have the impression that prices are rising and that there are fewer offers. This website reflects the reality of the European market. The website manager told me the average is calculated on leparking.com which itself lists all the ads on the web in Europe. Once they have at least 50 ads, they remove the X% cheapest and most expensive cars to avoid unreliable data, and then they make an average.

[macfly]

Prices here are absolutely on the rise this year, and not only on BaT, I have done two inspections on beautiful low mileage cars that both sold north of 250k, and I placed that museum quality Topaz/Crema car that was available here for a while at a price significantly above that too. (I was asked not to disclose the final price by both parties, but they were both very happy.)

[Z8DinanS2]

Prices here are absolutely on the rise this year, and not only on BaT, I have done two inspections on beautiful low mileage cars that both sold north of 250k, and I placed that museum quality Topaz/Crema car that was available here for a while at a price significantly above that too. (I was asked not to disclose the final price by both parties, but they were both very happy.)

At that price I would have bought it as I am sure a number of folks here would have as well. I think we are going to see a real bump up and soon as the future of electrification of all vehicles starts to set in to the buyers minds. I was just at Ferrari a few weeks ago when their mule that looks like an Enzo pulled along side me. Sounded like crap with its hybrid V6. I have noticed Aston Martin V12 Vantage Roadsters starting to jump and dealers could not move them at all not long ago.

I would not even consider selling my Dinan S2 Z8 unless the offer started with a 3. (E.g., $3xxk)

You know how many guys sold their 300SL roadsters for $150k not all that long ago? Many. Who remembers sub $60k Miuras? (I do!)

In the future maybe we should have a thread dedicated to upcoming auctions with Z8 so we can swoop in and grab cars like this one from BJ.