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Thread: 2002 Z8 (#61420) Silver/Blk sold on eBay for $110,200

  1. #1
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    2002 Z8 (#61420) Silver/Blk sold on eBay for $110,200

    Not sure where my original posting went, but thought to advise that I sold my great condition Z8 daily driver, with approximately 82,000 miles, on eBay for $110,200. I had 2 post-auction offers for $112k and $115k, but went with a German owner of an Alpina with ~ 5km miles that will surely appreciate her. I detailed her every 3-4 months and kept up all the maintenance and garaged her most of the time at my home, and my company in Palo Alto, CA. I kept her stock, except for Eisenmann mufflers and an iPod interface, and loved every moment of driving. She is being shipped back to her German homeland this week and I will surely miss her.

    I'm not sure who is buying the cars for $250k-330k, and have friends with low mileage Z8s that would love that price! I believe the cars have escalated to the realm of those that just want one and won't quibble over $25-75k (small minority), and those that seek to own them for collector value, in future when they will be worth that much, or more. As for me, I have lost 50-75% in adjusted dollars, purchasing mine around 2005 for around $110k (tax, etc), but am very happy that the new owner is an existing Z8 enthusiast! The cars will surely increase in value, no doubt, and I am not a car collector with a long-term perspective. I am just happy that such a great car is going to a wonderful collector that does appreciate them.

    I replaced the dash (typical glue issues), glued the seatbacks and pillars 20k miles ago, replaced the radio a few weeks ago (typical popping issues but now has a 1 year warranty for the new owner), the rear-view mirror (typical leaky LCD issues), and recommended maintenance including water pump, timing chain, control arms (not leaking, but were cracked), trunk and hood gas struts, etc. I replaced a failed tail lamp, around $1300 in ~2008, but no other failures in such a fine car. The acceleration and braking were superb, of course. and I enjoyed my twice-weekly drives to SF, around 80 miles RT, to my marina for my sailing activities.

    I haven't driven her harshly and didn't install the "performance package". No warpage or frame damage was noted in the last inspection 100 miles ago by Matt Carver, the factory trained Z8 mechanic and now a manager at Peter Pan BMW in Burlingame, Ca, and I have over 80,000 miles. I do know that many recommend the performance package, requiring holes drilled and other frame modifications, but never experienced any warpage or cracks. I'm happy I haven't modified my car for heavy driving and all was well in the last inspection. All my driving has been 40-80 miles local. I rarely used the roll-bar windscreens, happy with the top down once yearly. I have a garage hoist for the top, and wished it was a bit lighter. The little port covers for the access holes broke their tangs nearly every time I used them, so kept a lot of spares.

    The seats were typical German,,,hard! Mine did not degrade much, and the leather is fine. I had an extra layer of pink foam installed awhile ago by a Peter Pan BMW mechanic, and they are puffy and happy seats. I replaced the engine compartment sound proofing fiberglass material because I damaged the original with a high-pressure hose! Don't use the high pressure car wash hose in the engine compartment sound-proofing or it will shred! Amazingly, I have never replaced the windshield washer blades. Amazing!

    I really enjoyed the Z8, quite the car with beautifully sensuous lines and one of Italian beauty and German precision, and am now going all electric, with Tesla cars (my gym buddy founded Tesla) and Zero motorcycles ( http://www.motorcycle.com/features/t...the-ocean.html ) and 4.5 kw solar cells on the roof of my home in the Palo Alto hills of Silicon Valley.

    I'm not a car collector, otherwise I would keep this car! BMW has moved this car into the "classic series", and escalated the replacement parts prices 2-3x, and so it is in the realm of collector cars, and beyond my interest.especially since it is appreciating slower than NASDAQ or other investment opportunities. But, it is a great driver collectible, and i have been very happy with it. I'll miss the car!
    Kerry

  2. #2
    If you don't keep to the correct formatting that everyone uses within this section your post will be deleted. I corrected this one since it has enough useful info to be archived.

    You may want to look at this - http://www.bmwz8.us/forum/sale-wante...50-a-4366.html
    Andrew Macpherson

    Expert Z8 Inspections, with full support for both Z8 sale and purchases.

  3. #3
    Sorry to see you go, Kerry. But it sounds like you used and enjoyed your Z8 in the manner for which it was intended (which is to say, not sitting stationary inside a climate-controlled bubble!) I do think the lucky purchaser got a very good deal, as you apparently maintained it well and even at 80k miles it should have a lot of miles still in her. Enjoy the Tesla!

    Bill

  4. #4
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    Thank you for your corrections, Andrew, and thanks for your advise the past 10 years I have enjoyed the car!

    - - - Updated - - -

    Thanks, Bill!

  5. #5
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    Hi There,
    I just want to say that I am the lucky guy who got the car in the end. Kerry supplied me we a lot of pictures and a video to show the fine condition of the car.
    So I am waiting for the car here in Germany to have a nice Daily Driver since my Alpina has such low km that I am more or less thinking of collection than driving.
    I will take the Alpina to the meetings of the club but otherwise I will take my new car. In the last weeks I saw a lot of uggly cars here in Germany with a big Pprice ticket on and I contacted Andrew before for a nice Daily Driver.
    I will report more as soon as the car will be here in Germany, I am looking Forward to this.
    Best regards from Dortmund

    Karsten
    Alpina Z8 #550/555
    AH61420

  6. #6
    Z8 Ate My Homework! Norcal's Avatar
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    Welcome, and it looks like you found a very good car at a very good price! What are the current values in Germany for various miles and condition?

  7. #7
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    Thank you for the welcome,
    that is pretty hard to tell, I had a look on various cars in various colours, all with arround 130.000km on the clock. You are looking here at about 180.000 Euros, but they do not sell.
    I think 150.000 Euros would be the reasonable price ticket here. And it depends of course, whether you are looking for an AF or an AH car, that is a difference here. I was so happy that Kerry's car has a almost complete history as well (what is not usually the case) and looking forward receiving the car.
    Best regards from Dortmund

    Karsten
    Alpina Z8 #550/555
    AH61420

  8. #8
    This car should have sold at 140-145k, by selling it so carelessly you have reduced the amount insurance companies like State Farm will now pay out on the car, and also depressed the entire Z8 market, hurting everyone in the community. I could have got you 140k for that car with no problem.
    Andrew Macpherson

    Expert Z8 Inspections, with full support for both Z8 sale and purchases.

  9. #9
    Beyond the Valley of Z8 Madness Z-acht's Avatar
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    Hi Karsten,

    Congratulations with your "purchase" I guess you are right to keep the Alpina for special appearances and enjoy the Z8 for all your trips.
    Ton
    1 of the 71 original Dutch sold cars (jetblack/red)

  10. #10
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    I'm sorry you feel that way, Andrew and the sale is, no doubt, a data point in the marketplace. Please remember that I reached out to you for selling advice, with no interest from your referrals for a "high-mileage" daily driver, a different category from most Z8s. I posted a for-sale reference on the Z8 board. The local BMW dealer offered to purchase for $60k,and I felt it was worth much more.

    The entire sales process still required several weeks, with over 50 bids by 5 active bidders (2 German, a Russian, and 2 dealers) at the end, with pickup scheduled another week later. I am happy that the car is going to a German Z8/Alpina aficionado, and feel my marketplace experience and contributions are important and were executed in a methodical manner for the amount of time and energy I was willing to devote to the vehicle sale.

    I still appreciate all the advice you offered on this board over the years!

  11. #11
    Z8 Ate My Homework! Norcal's Avatar
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    Wow, dealer offer was waaaaay lowball. I asked a local dealer while I was getting service, and they offered $90,000. I think I laughed out loud! My car has about 45,000 mi, black and Crema.

  12. #12
    Team Z8 zilver8's Avatar
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    Quote Originally Posted by macfly View Post
    This car should have sold at 140-145k, by selling it so carelessly you have reduced the amount insurance companies like State Farm will now pay out on the car, and also depressed the entire Z8 market, hurting everyone in the community. I could have got you 140k for that car with no problem.
    That was harsh. It sounds like it went to a private party. Stating that the sale will impact insurance payouts is really over the top. To the seller, it sounds like you got a fair price and the new buyer got a good deal.

  13. #13
    Having lost two cars in the last 4 years I can tell you categorically that to arrive at the agreed replacement value I have been presented with several sheets of comparable cars from EBay and Cars.com
    Andrew Macpherson

    Expert Z8 Inspections, with full support for both Z8 sale and purchases.

  14. #14
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    Didn't know that, never lost a house/car/boat/plane. I would be surprised if they didn't average the sales and toss out the outliers, as with any good statistical analysis of comps. A similar Z8, with half the mileage and some Dinan mods, was bid to $122k just a week prior to mine, but did not reach the reserve.

    The buyers spoke when I made contact and sought to sell the car several months ago, and that was what the eBay, your two exotic car dealer referrals, the Z8 board, Auto Nation, and BMW dealers were willing to spend for a high-mileage daily driver at this time.

  15. #15
    Team Z8 Satch's Avatar
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    Well, let's remember Link's Law: A thing is worth exactly what somebody will pay you for it. The collector-car market is down (Monterey auction results being just the final indicator; Keith Martin thought sales would be up 25% this year over last—oops!). The economy has election-year jitters. The pound is down and Europe is awaiting the fallout of Brexit. So the 1% will still buy one-of-a-kind Ferraris and pre-war Alfas, and the rest of us will worry.

    Might as well enjoy the wait!

    Kudos to Karsten for buying a driver—at a bargain price!

    The values (or prices, which doesn't always mean the same thing) of Z8s will grow as long as those who own them are unwilling to sell them cheaply; if you need the money, it's hard to resist a pile of cash, especially if you have a car that was built in greater numbers, like silver/black. Alpinas bring more money simply because there were fewer of them, which trumps the silver issue.

    I did my best to keep the values up by taking Dan Dietz' Z8 off the market (we have to buy them all to keep them away from the hoarders!) before anybody else snatched it up. And I have not diminished its value by putting 10,000 miles on it during the last year, because part of the value involves the surrender threshold: the price at which I would consider selling the car. At this point, I'd put that number at about $250,000, but after I drive it to Santa Fe for the Concorso this month, that number may go up.

    Nor do I regret the cost of installing a new suspension, cooling system, and anything else Rich Geier could find that needed attention. After all, a driver is for driving. And that keeps the value up on the black Z8, the one without so many miles.

    In any case, the discussion is moot, because barring a State Farm incident, when either car is sold, the buyer will be dealing with Party A, the widow, not me!

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