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Has the used car world gone mad? E39 M5.

Discussion in 'off topic' started by Tony Lockhart, Mar 15, 2019.

  1. Paulicus

    Paulicus pfm Member

    A true open air enthusiasts car, too!
     
  2. kennyh

    kennyh pfm Member

    If the car had been stored inside I'd not have raised an eyebrow at where the bidding is now, as on checking the classic sites these do fetch more than I thought. What's it worth with that mileage and if it were a tidy car? 23-26k?

    The prices certainly appear stronger than I thought.

    All down to rot on its shell/monocoque really. He's taken honest pics of it and a lot of the rust does seem superficial but you just can't tell without getting it up on ramps.

    A keen amateur with a good powder coater and metal coating place nearby may just have a dabble at this as an ongoing project if the structure is just cosmetic rust.

    I just don't like the guys advert though.....if it were my cup of tea that would put me off more than the car does.

    Although as we say......sometimes it is just worth going out and buying a good one in the first place.
     
    Paulicus and Tony Lockhart like this.
  3. hifilover1979

    hifilover1979 Bigger than you...

    Unfortunately the E39 M5s are becoming rarer and rarer now; sop they're commanding IMO, daft prices

    You cannot get a decent one for less than c£15k; anything less than £10k and it'll be a dog probably that needs quite a bit of body work attention etc

    The S62 engines alone will fetch c£5/£6k minimum, one with this low mileage will fetch even more

    There are a few E39 M5s out there for sale, c£25k upwards! So, if this was bought at around £10/£12k and another £6 put into it for necessary work; you'll still be able to get that money back, if you're able to wait long enough for the right buyer...

    So, no. The world hasn't gone mad; the values are going up that quickly!
     
  4. Tony Lockhart

    Tony Lockhart pfm Member

    And all these £25-35k examples will be hidden away like other desirable cars.

    Yep, prices have jumped a surprising amount in the last few months. Thankfully I’m not in the market!
     
  5. Paulicus

    Paulicus pfm Member

    I think the E39 M5 with its naturally aspirated V8 engine is perhaps, was, peak BMW and the reason why these are sought after.
     
    hifilover1979 likes this.
  6. hifilover1979

    hifilover1979 Bigger than you...

    That is exactly the reason why... The last, best NA M5 made really.

    The E60 M5 is a stunning car; but too troublesome unless you a) know what you're doing and b) have deep pockets - I'm a mix of both :D haha
     
    Paulicus likes this.
  7. Tony Lockhart

    Tony Lockhart pfm Member

    To many people, another reason why the E39 is preferred to the later M5s is that you can enjoy it at sane speeds. An E60 isn’t enjoyable, they say, until you’re into licence-losing territory. However, the V10 with a decent exhaust sounds racecar mad. :)
     
    Paulicus likes this.
  8. hifilover1979

    hifilover1979 Bigger than you...

    Kind of right, kind of wrong. Sounds like a broken Mondeo diesel on start up, but soon settles into a light V8 sound. The V10 howl is addictive, more so if you’ve an Eisenmann system on or similar ;) But yes, to get that F1 like scream from the car, you’ll be at illegal speeds in no time at all!

    I’ll miss mine when it’s gone, but won’t have another
     
    Paulicus and Tony Lockhart like this.
  9. -alan-

    -alan- pfm Member

    That one looks like it was parked waist deep in a lake.
     
  10. stevec67

    stevec67 pfm Member

    Just about to get knocked down unless there is a flurry in the last 1o minutes, 35 bids to £9200 and still not met reserve. I wouldn't touch it with someone else's bargepole. It's been outside for 6 years, it will be f*ed.
     
    Tony Lockhart likes this.
  11. Tony Lockhart

    Tony Lockhart pfm Member

    Didn’t meet reserve. Sanity restored.
     
  12. kennyh

    kennyh pfm Member

    Wonder if he contacts the 9200 bidder?.......or was that a bid up? Soon see if he relists it.
     
    Tony Lockhart likes this.
  13. The Chronicals

    The Chronicals Disruptor

    Tony Lockhart likes this.
  14. Tony Lockhart

    Tony Lockhart pfm Member

    With hippos in the boot.
     
  15. stevec67

    stevec67 pfm Member

    I'd say it's a dead cert he will. I'm sure that none of his mates have been bidding it up after all, so the smart money says he'll contact the last couple of bidders with "Well, what a surprise, my buyer dropped out and it didn't meet reserve, but I'll take..."

    Well, they say providence is everything. Now you know why. I'm sure the interior will come up nice after a good hoovering.
     
  16. Tony Lockhart

    Tony Lockhart pfm Member

    And a bit of powder coating :)
     
    stevec67 likes this.
  17. Paulicus

    Paulicus pfm Member

    Powder coating.... Aka Keith Richards dandruff ♪~ ᕕ(ᐛ)ᕗ
     
  18. matt j

    matt j pfm Member

    Possibly not a bad base car for building something slightly insane involving a huge turbo. But not at ten grand.
     
  19. richgilb

    richgilb Admonishtrator

    The E39 is the only M5 that looks totally boring. Like a Montego.
     
  20. hifilover1979

    hifilover1979 Bigger than you...

    Unfortunately I'd say a lot of the comments on here are from folk that don't understand the E39 market...

    It's booming currently; my last 3 daily driver cars and my current 530i Jap import touring have all been excellent cars, not without their issues, but they've all sold as well for very strong money, hell of a lot more than I paid!

    The M5 does have some serious issues underneath; but they can all be sorted. Get the engine out and turned over by hand and then go from there with regards to a simple rebuild (hopefully); sort all the corrosion out (most of it looks superficial, but there will be tougher bits (jacking points, sills etc) & get it undersealed; get the front-to-rear hard brake lines replaced & get the brakes/handbrake overhauled, get the interior deep cleaned, get the exterior professionally cleaned and detailed etc...

    With all that; it'll fetch strong money; more so with such low miles.

    As long as the vanos system is fine and the bearings haven't gone in the engine; it'll still be a strong lump that needs TLC to get it back to where it should be.

    IMO around £6k worth of work; factor in a maybe £8/£9k purchase price (the reserve will have been a piss-take price knowing Munich Legends); we're looking at a c£15k bill overall. Once that works done, it'll be relisted on PH, eBay and Autotrader for over £20k; that I can guarantee!
     

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