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Valuing a track car...

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  • Valuing a track car...

    Unlike a lot of you, I'm not looking for the most pristine E30 out there (some of the cars I've seen here are absolutely beautiful). I'm looking for an occasional daily driver and primarily a track toy. A friend of mine (actually one of my DE instructors) has an '89 with 97k miles on it. Cosmetically it's pretty rough, but I'm fine with that. After years of taking exceptional care of my cars, it's time to enjoy driving rather than waxing the damn thing.

    It is a rebuilt salvage car. Apparently, the roof got crushed (my friend said it looked like something fell on it), and the car was chopped horizontally at the A/B/C pillars and a new roof welded on. Bimmerworld rebuilt the car with the intention of turning it into a J-Stock race car, and that's when my friend bought it. It's got a 6-point cage, OMP race seats, Turner J-Stock suspension, all the suspension bushings have been replaced, as well as a number of smaller items like a Conforti chip and RD strut brace. Apparently it was a daily driver before the accident and it feels strong. My friend has had it on the track four or five times, I've ridden in it with him, and mechanically it's very solid. My friend has been driving it for two years with no problems.

    My question to you guys is, how does one value a car like this? I drove the car today and everything feels as it should, the brakes are firm, the transmission feels good, the clutch engages nicely, the motor sounds great, etc. In short, I loved the car. Everything about it is just so, right. I recently sold my 2002 Audi S4, and the M3 is everything that car wasn't, light, tossable, and balanced. I loved the S4 for what it was, but it wasn't my kind of car, the E30 M3 is. I would get a PPI before purchase, but assuming the car is mechanically sound, what is a fair price for an E30 like this?

    Here are some pics:



















    Thanks everyone!
    Last edited by mpwolf; 03-07-2004, 07:37 PM.

  • #2
    To me, there are two kinds of M3s that are fetch high dollars:

    - Garage queens. Completely stock, low mileage, all original parts...

    - Race cars. One that was built specifically for a class
    (JS,JP,DM...) and that would be the most competitive in that
    class. ie. all supension/brake components replaced, motor
    rebuilt with minimal miles, and all other allowable modifications done.

    Since this car is neither it probably falls into the category of a
    regular street car. Also, the mods that were done to it are
    pretty common, so they won't raise the price of the car. If I were
    looking to buy it, I'd probably offer something in the region of $10-12k.

    HTH,
    Han
    -Han

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    • #3
      Thanks Han,

      I think we've actually met before, I'm a friend of Eric's. Anyway, thanks for the advice. This car was on its way to becoming a full J-stock CCA race car when my friend bought it. It's not there yet, but with a few (thousand) more dollars, it probably could. I really like the car, and while the mods may be common, I haven't seen too many E30s with full cages for sale.

      - Matt

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      • #4
        Matt, that car sounds exactly like mine with the exception of the salvaged title. I paid $14,700 for my M3 four years ago.


        I would concur with Han that it would be valued around $11k.
        1988 M3
        2012 335is
        1993 Civic Si

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        • #5
          id like to say its worth that much....

          but the salvage title scares a lot of people away...

          the car is worth whatever you are willing to pay...

          I wouldnt buy a salvage track car and worry about re-sale value....b/c there isnt much of one...if its a track car your gonna keep for a while...figure out what you can afford to spend and thats how much its worth to you

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