Following our recent Dream Buy, we found two classic BMWs that are selling for more than their new replacements and here's why:
A dealership in Ohio, the Enthusiast Group, has on its floor two BMW M cars that are just over a decade old, a 2004 BMW e46 M3 and a 2003 e39 M5. Both these cars are selling well over the price of the latest versions. The reason for this is because these two cars are practically brand new.
Most examples of these cars have been driven hard throughout their lifespan and some have been abused. These two, though, have hardly been driven. The M3 has about 800km on the clock and the M5 has about 500km.
The cars were owned by a collector who bought them and then parked them in an airplane hangar. It’s reported that he would drive the cars around the airfield now and then to keep the engines and other mechanical bits lubricated.
The cars are in such original condition that they even have the warning stickers on the dashboards; these are normally taken off by the dealer upon delivery.
So what will a classic like this cost you? Well, the dealership in Ohio is selling the M3 for a little over R1.4 million (SA retail is R250 000) and the M5 for around R2.1 million (SA retail is R200 000).
They’re also not willing to sell these fine examples to just anyone looking for a daily driver, instead they are only willing to sell the cars to like minded collectors.
So what we can take from this, is that if you want to make money in 10 years time, we suggest that you buy a sports car and don't drive it at all.