MyE28.com

Posted: **Apr 30, 2014 4:36 PM**

I've seen several people make mention that the prices of e28 M5's seem to finally be rising. I do what I can to watch......saw this ebay ad.....asking $18500 and sold for "best offer" I emailed him to ask about it. He stated he got $15k for it. Not bad in my opinion considering the mileage.

I don't think he would have gotten near that 2, 3 or 4 years ago.

http://www.ebay.com/itm/1988-BMW-E28-M5 ... 7675.l2557

From the ad

I recently inherited my late uncles 1988 m5. He was the original owner and took care of this car perfectly. The car is 100% stock except for a short shifter installed and aftermarket CD player. I had the front seats redone with real leather and back seat bench about a month ago. All other interior parts are original. The car does have 255k but my uncle had this car serviced better than a human being. It starts up on the first try, runs strong, and can even pass CA smog. The paint is all original as far as I can tell. The engine is 100% stock and is very clean. I am very familiar with this car and just about everything works with the exceptions below. I just drove the car from San Jose to San Francisco at night. THERE IS NO RUST on the car. The car spent its life in Northern California its whole life. It even had the original California pink title, just converted it to a newer title so it could be sold worldwide. You can even see the 1980s style plates on the car. Export Friendly. Will ship anywhere with prior payment. No warranty. Car is being sold AS IS as part of a family estate.

Some of the issues I noticed.

1. door dings from shopping cart on rear doors, front spoiler has some bottom out scratches.

2. AC blower motor needs repair, but air still flows out

3. Wheels should be repainted, look a little dull (but original)

4. The drivers side seat works somedays and doesn't on others, I just adjust it when it does work.

5. usual e28 dash cracks

If you are looking for a virgin 1988 BMW m5 from a mature owner this is it. No rust, ready to drive cross country.

Posted: **Apr 30, 2014 6:32 PM**

Doesn't look bad. Looks like it has potential.

That said, I wouldn't call those the "usual E28 dash cracks." Lots of miles and it still has yellow caps on the throttles.

Posted: **Apr 30, 2014 11:05 PM**

Noob here, long time love for this car, but wasn't serious until I recently decided I was comfortable enough to pull the trigger on an extra hobby!

Not sure if anyone else saw the one that just ended on ebay yesterday that only had a little over 100k miles, it didn't make it to the reserve and ended at 17,150. I have a friend that is willing to go look at it so I msg'd the owner and asked what he is looking for, but I'm wondering if this is a good buy at 18k, because I was considering offering that. Knowing that it's going to cost me to either pick it up or ship it, I will probably be in for 1500 above that. Link below to the ended auction...thoughts?
http://www.ebay.com/itm/141265223088?ss ... 1423.l2649

Posted: **May 01, 2014 10:36 AM**

It does seem to be a bit of a treand. I am curious if it has to do with the E30 M3 going up so much in price. Maybe some people are realizing the an E28 M5 is somewhat comparable to the M3, but at pennies on the dollar (OK, not quite). They are just as much fun when driven spirited, but also IMO, a better daily/semi-DD vehicle. Obviously they work well on the highway cruising.

Just from keeping my eyes open for the last two years or so, it seems like finding a $6500 M5 is getting to be an arduous task, although they were common place a few years ago.Not only that, but more are being wrecked and/or parted so they are becoming a bit more rare. I also noticed that there seem to be more posts for people looking, then I remember in the last ~5 years. These cars are now just past the 25 year mark, which seems to be the point where they turn into the 'classic' category.

What do they say, a high tide raises all boats? The upturn of the economy can only be helping at this point in time. Of course we aren't buying these cars for the large financial value, but rather for the enjoyment of using and driving. I do however, feel that E28 M5's (and M6's) have been going up and have just passed the bottom of their depreciation curve of the next ~20 years.

Posted: **May 01, 2014 1:17 PM**

Posted: **May 02, 2014 11:17 AM**

All I can say on this subject is yes they are and finally!

Posted: **May 02, 2014 11:40 AM**

Here's one data point. Take it with a grain of salt.

http://www.hagerty.com/valuationtools/H ... ?vc=877254

Posted: **May 02, 2014 11:41 AM**

This side of the pond in the UK, a decent M5 is now £16-20k. A rough/high mileage example can occasionally be found at under £10k, and a showroom-fresh one can command £23k.

The idea of picking one up for $6500 is long gone over here now.

Posted: **May 03, 2014 1:53 PM**

Posted: **May 08, 2014 8:03 PM**

Yes they are rising, but I don't think by this much!

35K

http://www.ebay.com/itm/BMW-M5-M5-BMW-E ... ars_Trucks

Posted: **May 09, 2014 7:40 AM**

Motronic wrote:Yes they are rising, but I don't think by this much! 35K

http://www.ebay.com/itm/BMW-M5-M5-BMW-E ... ars_Trucks

Wow. Nice car. Not sure that's an unreasonable ask. I sat in a 40k mile car the other day and was trying to come up with a number. I went lower, but only 'cause I want to buy it.

Posted: **May 09, 2014 8:54 AM**

Motronic wrote:Yes they are rising, but I don't think by this much! 35K

http://www.ebay.com/itm/BMW-M5-M5-BMW-E ... ars_Trucks

It does not even have the red handled screwdrivers! If they will deduct 20k for that glaring problem I would take it.

Posted: **May 09, 2014 10:01 PM**

Auction ended early maybe they did get 35K.

Posted: **May 10, 2014 12:45 AM**

That was pretty cool... Thanks!

Drew in NYC wrote:Here's one data point. Take it with a grain of salt.

http://www.hagerty.com/valuationtools/H ... ?vc=877254

Posted: **May 10, 2014 1:02 AM**

Sign me up for a condition 1 car for $24k. Lol.

Posted: **Dec 12, 2014 1:13 PM**

Just stumbled on this thread in the archives and decided to update with a comparable approximations. Mainly, to show that Insurance companies are seeing an increase in valuation of the E28 M5.

These are taken from Hagerty's "Price Guide Report", pretty much what Drew was linking

1988 BMW M5

The average value for this vehicle is:$11,405

Condition #1 vehicles are the best in the world. The visual image is of the best car, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the car has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 cars is "concours."

#2 cars could win a local or regional show. They can be former #1 cars that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and interior will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine compartment. The vehicle will drive as a new car of its era would. The one word description for #2 cars is "excellent."

#3 cars could possess some, but not all of the issues of a #4 car, but they will be balanced by other factors such as a fresh paint job or a new, correct interior. #3 cars drive and run well, but might have some incorrect parts. These cars are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. "Good" is the one word description of a #3 car.

#4 cars are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the fender has a minor dent. The interior could have split seams or a cracked dash. No major parts are missing, but the wheels could differ from the originals, or the interior might not be stock. A #4 car can also be a deteriorated restoration. "Fair" is the one word that describes a #4 car.

Date - Condition 4 - Condition 3 - Condition 2 - Condition 1

Aug 2014 $7,300 $11,300 $15,800 $25,200
Apr 2014 $7,300 $11,200 $15,600 $24,600
Dec 2013 $5,600 $9,000 $12,800 $20,200
Aug 2013 $5,600 $9,000 $12,800 $20,200
Apr 2013 $5,600 $8,800 $12,600 $19,900
Dec 2012 $5,600 $8,800 $12,600 $19,900
Aug 2012 $5,600 $8,800 $12,600 $19,900
Apr 2012 $5,600 $8,800 $12,600 $19,900
Dec 2011 $5,600 $8,800 $12,600 $19,900
Aug 2011 $5,600 $8,800 $12,600 $19,900
Apr 2011 $5,500 $8,700 $12,500 $19,800
Dec 2010 $5,400 $8,600 $12,400 $19,600
Aug 2010 $5,400 $8,600 $12,400 $19,600
Apr 2010 $5,900 $8,900 $12,600 $19,800
Dec 2009 $5,900 $8,900 $12,600 $19,800
Aug 2009 $6,000 $8,900 $12,700 $19,800
Apr 2009 $6,000 $8,900 $12,700 $19,800
Dec 2008 $5,800 $8,700 $12,500 $19,600
Aug 2008 $5,800 $8,700 $12,500 $19,600
Apr 2008 $5,800 $8,700 $12,500 $19,600

Posted: **Jan 02, 2015 5:24 PM**

Reading this makes me so glad to have purchased my M5 when I did. Took me a long time to find one since there were so few of them sold in Canada.

Posted: **Jan 04, 2015 12:31 PM**

FWIW....according to the Hagerty chart.....they've gone up $$$ since August....wow.

Date - Condition 4 - Condition 3 - Condition 2 - Condition 1

Dec 2014 $11,000 $16,000 $20,200 $32,300

Aug 2014 $7,300 $11,300 $15,800 $25,200

Apr 2014 $7,300 $11,200 $15,600 $24,600

Posted: **Jan 04, 2015 2:26 PM**

I wonder if Hagerty's customers upping their coverage affects the chart too? I requested a bump in coverage from $20k to $25k on 11/20/14 and they approved it within a few hours. There was a box where they asked the reason for the request and I wrote something like "recent sales of this model indicate an increase in value".

Posted: **Jan 04, 2015 3:28 PM**

Hmm. Probably time I add comprehensive on mine.

Posted: **Jan 08, 2015 2:48 PM**

Interesting that it has changed!

I got a message from a fellow user that I thought was relevant to share with everybody:

Sent: Jan 04, 2015 1:15 PM
From: M635CSi
To: tschultz

Although it doesn't apply directly to old M5 prices, I'm always reminded of a good book on the topic of human behavior as it relates to pricing and people's behaviors: "Extraordinary Popular Delusions and the Madness of Crowds"

The question in my mind; is the total money available for old M5s going up or is it the same? Is the same amount of money being spread over fewer cars? In other words, if 5 years ago there were 1,000 M5s around and they (generally) sold for $10,000 (10M) and today there's 500 in existence that sell for $20,000 then that's still 10M so the capitalisation (so to speak) of the market hasn't gone up. Just a thought...

Posted: **Jan 08, 2015 9:16 PM**

tschultz wrote:I got a message from a fellow user that I thought was relevant

Interesting, but I'm not sure how it's relevant to this discussion. I don't know if M5 prices are going up due to decreased supply or they're getting more desirable or Justin Bieber was seen driving one and I don't give a shit about Market capitalization.

Posted: **Jan 08, 2015 9:55 PM**

I wonder if Hagerty's customers upping their coverage affects the chart too?

Hagerty's web site, regarding their valuation tool prices, says they factor in Auctions, Dealer Sales, Asking Prices, and Peer-to-Peer sales to compile their pricing guide.

More info here: http://www.hagerty.com/valuationtools/About-our-prices

Jim

Posted: **Feb 24, 2015 3:55 PM**

Stumbled upon this thread when searching and decided to compare.

I notice Hagerty again had added a rather large upswing for M5 values-- they are catching on to the actual sales from the past 6 months...

Dec 2014 $11,000 $16,000 $20,200 $32,300

Posted: **Feb 24, 2015 10:01 PM**

For what it's worth...SCM has the high end value at $12,500. Still a "D" investment grade but 4 star which puts it closer to a "C." Just got the 2015 print today...

Posted: **Feb 25, 2015 12:13 AM**

///Mflossin wrote:For what it's worth...SCM has the high end value at $12,500. Still a "D" investment grade but 4 star which puts it closer to a "C." Just got the 2015 print today...

Obviously, they're not paying attention to actual sales while the Hagerty data is. Look at what the 87k mile car that needs everything and a bag of chips under the backseat is up to on eBay. Hell, TurboChris' near-billion mile car that is not stock is at about double what your high-end value is and those aren't asking prices. They're actually bid up to that. Not to mention the sales in the last five years of "high-end" cars selling above $40k - EAG notwithstanding.

Posted: **Feb 25, 2015 8:48 AM**

Agreed....I just posted for information purposes only. SCM is by "no means" a bible for any chassis.

Posted: **Feb 25, 2015 12:29 PM**

wkohler wrote:
///Mflossin wrote:For what it's worth...SCM has the high end value at $12,500. Still a "D" investment grade but 4 star which puts it closer to a "C." Just got the 2015 print today...
Obviously, they're not paying attention to actual sales while the Hagerty data is. Look at what the 87k mile car that needs everything and a bag of chips under the backseat is up to on eBay. Hell, TurboChris' near-billion mile car that is not stock is at about double what your high-end value is and those aren't asking prices. They're actually bid up to that. Not to mention the sales in the last five years of "high-end" cars selling above $40k - EAG notwithstanding.

Hell, that 87K (Claimed) car on ebay at $20k is gonna be a money pit for someone. By the time their done...it'll be a $40k car with a big question mark hanging over the mileage for the rest of its life. I especially like this part from the vehicle report..
18,584 01/28/1999
83,699 07/31/2000
84,364 01/03/2003

So it's first 11 years it only covered 18,500 miles and THEN 65,000 over the next 18 months? And THEN 3300 over the next 15 years?? Talk about a red flag! Crap, by the time someones done making that car right...they'll have spent MORE than a low mileage EAG car.

Posted: **Feb 25, 2015 12:33 PM**

I'm going to bet that in 1999, it had 81k miles on it. If you ever look at the people that are reporting this mileage, they're not what you would call geniuses. On my parents' '04 Cooper S, I took it through emissions in 2012 with 6300 miles and the guy typed in 63000. I told him he was wrong and he said it was too late to fix it. So, thanks a lot fucker but I think it's pretty easily explained that someone could transpose a number. That car led a hard life, so drawing on a mileage discrepancy is grasping at straws frankly.

Posted: **Sep 02, 2015 9:31 AM**

I was alerted to another splash in the hagerty valuation.

I assume they are seeing the EAG sales of recent months? Not sure if they include worldwide sales or not...

Vehicle Value Details

Date - Condition 4 - Condition 3 - Condition 2 - Condition 1

Aug 2015 $13,100 $36,800 $56,500 $87,000
Apr 2015 $11,700 $16,800 $21,900 $37,200
Dec 2014 $11,000 $16,000 $20,200 $32,300
Aug 2014 $7,300 $11,300 $15,800 $25,200
Apr 2014 $7,300 $11,200 $15,600 $24,600
Dec 2013 $5,600 $9,000 $12,800 $20,200
Aug 2013 $5,600 $9,000 $12,800 $20,200
Apr 2013 $5,600 $8,800 $12,600 $19,900
Dec 2012 $5,600 $8,800 $12,600 $19,900
Aug 2012 $5,600 $8,800 $12,600 $19,900
Apr 2012 $5,600 $8,800 $12,600 $19,900
Dec 2011 $5,600 $8,800 $12,600 $19,900
Aug 2011 $5,600 $8,800 $12,600 $19,900
Apr 2011 $5,500 $8,700 $12,500 $19,800
Dec 2010 $5,400 $8,600 $12,400 $19,600
Aug 2010 $5,400 $8,600 $12,400 $19,600
Apr 2010 $5,900 $8,900 $12,600 $19,800
Dec 2009 $5,900 $8,900 $12,600 $19,800
Aug 2009 $6,000 $8,900 $12,700 $19,800
Apr 2009 $6,000 $8,900 $12,700 $19,800
Dec 2008 $5,800 $8,700 $12,500 $19,600
Aug 2008 $5,800 $8,700 $12,500 $19,600
Apr 2008 $5,800 $8,700 $12,500 $19,600

Obviously most cars are in the Condition, 3-4 range, but still the Hagerty valuation has almost doubled for condition 4 in the last calendar year.
At the least, hopefully this means cars that us M5 owners have a case for our vehicle valuations in the case of accident or other.

MyE28.com

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