MyE28.com

We passed the value of the m6. The m5 is worth more than the m6. We are gaining on the e30 m3.

a 400% increase in two years?????? Wow.

I'm quite in awe and shock of that Hagerty graph. Also of EAGs prices for their E28s. I'd better get to fixin' the old gal up then.

yeah it is surprising. I have my m5's on haggerty, makes me think i need to raise my agreed value (or maybe that's what they want me to do!)

That's certainly a consideration. I'm not sure if these prices are sustainable but the overall number of cars (and quality cars at that) is certainly much lower than it was before and the increase in pricing has made some cars viable that otherwise wouldn't be. I have to figure there will be a correction and I'm not sure I want to pay so much extra for higher values that may or not be there in years to come.

mottati wrote:yeah it is surprising. I have my m5's on haggerty, makes me think i need to raise my agreed value (or maybe that's what they want me to do!)

I also have mine with Hagerty and I raised it from $20k agreed value to $25k a year ago and it was about $75.00 extra on the premium.

I have mine insured through American Collectors at an agreed upon value of 30K. May be a bit much but, given that I participate in local club events, I'm a bit more comfortable. After reading Satch Carlson's latest article, I'm inclined to believe that these vehicles will one day have value although I seriously doubt that they will ever be so valuable as to pay for a college education.

JW in VaBeach wrote:I'm inclined to believe that these vehicles will one day have value although I seriously doubt that they will ever be so valuable as to pay for a college education.

If I can't save enough to pay for Ellie's college and selling my ///M5 would let me do it, I would. That's why I'm saving for her college though.

Liberty mutual doesn't care if it's your DD with stated value

emwexler wrote:Liberty mutual doesn't care if it's your DD with stated value

Stated value isn't the same thing, Ace. You use stated value if say you drive a 100,000 car but you don't want to pay to cover a car worth $100,000, maybe something like 30k, and the result is the nsurance company will still go though all the same fighting over value but you have simply set $30k as your top end. They might only pay out $12k since it's less than 30k. Usually the case with cars worth insane amounts of money that would never be totaled. An agreed value policy is what you are supposed to have and they come with mileage restrictions which is what makes premiums manageable.

Karl Grau wrote:I requested a bump in coverage from $20k to $25k

Apparently I only bumped it to $24k last year and now Hagerty is 'suggesting' I raise it to $25k.

I kept it the same but requested that the value of the e30 be increased to $12k.

I have Amercian Collectors and just raised my declared value from 32K to 55K

My premium went down $20 a year as a result - seems over 40K uses a different price guide

Now the question is - do I drive it ?
OH hell yes, Art gets stapled to the wall and the M5 keeps pulling itself out of the wall -
See you at 5erWest

When I raised the value on the B7 Turbo, that was a significant premium increase. I have to raise it again but I don't feel like paying the extra money. I need to raise the M5 too.

laguna30 wrote:I have Amercian Collectors and just raised my declared value from 32K to 55K
My premium went down $20 a year as a result

That makes no sense whatsoever but then again, there's plenty about the insurance game that makes no sense to me.

For some reason SCM does not pay much attention to BMWs that don't say 507 on them. They are caught up in the Tii hype a bit but other cars like 2002 Turbos and Alpina cars aren't even close to up to date values.

wkohler wrote:When I raised the value on the B7 Turbo, that was a significant premium increase. I have to raise it again but I don't feel like paying the extra money. I need to raise the M5 too.

My experience has taught me that insurance is not somewhere to pinch pennies. Get Chubb, pay through the nose, but sleep well at night.

Note, Hagerty has changed their valuation data, but the trend continues with their evaluation tool. I am saving this information only for proof of E28 M5 values in case I ever need proof/data for my insurance company.

I believe most cars fall into condition 3 or in between 3 and 4. The descriptions are quoted on page 1 for reference.

I heard OcCoupe sold his car for roughly 80k and he doesn't work for EAG.

That chart is awesome. My car has the "right colors" it can be condition 1.

Latest upswing according to Hagerty index. Just in my recent searches, very few for sale at the moment. Running driving cars going for $15-$18k on the very low end.

May 2016

#1 Concours
$89,000

#2 Excellent
$57,400


#3 Good
$37,600

#4 Fair
$14,500

Any thoughts or information from members on whether or not the factory-equipped black interior US models are/would bring higher sale prices?

I'm driving my 88 M5.

Minotaur wrote:Any thoughts or information from members on whether or not the factory-equipped black interior US models are/would bring higher sale prices?

This canadian black/black car sold last month on Bring a trailer for a lot of money!

http://bringatrailer.com/listing/1988-m5/

It will depend on the buyer. If the rarity of the Black/Black means anything to them then it is more valuable. The hard thing these days is finding 2 cars in exactly the same condition, Mileage, Service history, Modifications etc, one with the Black interior and the other with the Tan and see what they sell for. The one on BAT that recently sold had a documented service history of a engine rebuild to the tune of $15k, Euro Bumpers and a few other modifications. If you take the engine rebuild out of the sale price that leaves a clean 148,000 mile car with euro bumpers and a black interior as a $27k car, if the seller had not done the engine work they would have been lucky to get $15k for the car so they spent their money well before the sale.

are you saying it was worth $15k with a bad motor?

I said they would have been lucky to get $15k for it had they not done the work on the tired engine.

Wow... $42k+ seems over the top to me. Yes the euro bumpers are nice and it's nice to know the engine has been done, but it's still a higher mileage car with a medium quality paint job. No offense but not even close to a collectible example.

the car is worth whatever someone is willing to pay, and the seller is willing to accept. If the buyer wanted a good solid driver where else is he/she going to find a E28M5 with a fresh engine for that kind of $$$ Again if they had found a $15k car with a tired engine they could probably have been some $$ ahead by buying it and then having the engine rebuilt and the euro bumpers installed and it would probably be a year or more before they got to drive and enjoy it.

Well the trend is still obviously up. That car that eric referenced on BAT probably would have only sold for about $20k 5 years ago. They are getting harder to find and people are realizing how unique they are.

If you aren't buying or selling, the values shouldn't really matter a ton. Maybe it helps you decide what repairs or upgrades are worth spending for...

Everybody has a different perception of values and some people may pay more for a rougher example than you might. So if somebody paid $42k, then that's what it was worth to that buyer, whether that is condition, location, modifications, or the amount of work (or no work) required to get it where they want it.

I know these things are all true. Look at the e30 M3 which was a much more affordable car in the day. It just seems to me some unrealistic values are popping up. I had a chance a few years back to buy an M5 with far fewer miles in much better cosmetic condition for about $12k. I passed and still kicking myself for that one. I got the 6er because I always like the lines of the couple better and thought the sedan was more average, apparently not in value. So now it makes me wonder should I keep driving my M6 with 60k+ miles any more or just hope the 6 series starts to go up the same crazy scale?

Never mind, I'll just drive it and enjoy and it still has nicer lines than a 5er. That's what I bought it for NOT an investment.

Cheers