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Pricing 2001 e38 740Li with Sports Package, sell on BaT?

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DaaBoss
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Pricing 2001 e38 740Li with Sports Package, sell on BaT?

Post by DaaBoss » Fri Jul 20, 2018 10:25 pm

e38 pricing help needed, as well as the best way /place to sell it:

I saw the post "Best Marketplace to sell M6" and it certainly sounds like the type of place to sell a "special situation" car, that shouldn't be sold to the average BMW owner. My problem then is, how to price it, and what to repair before marketing, or just sell it as-is. Obviously, it might be best to partner with someone locally, (Orlando, FL area), that's interested in doing the work and participating in the sale proceeds. Here's my story:

I've got TWO e38 740Li's that are both 2001, (AND also an e38 2003 704i). Both are low mileage (< ~ 80k?) One is in great shape, the other has been out in the sun too long, The "sunburned" model is one I have to sell. It is the factory sports model, it handles fantastic and runs better than my stock 740lLi 2001. I am incidentally a car dealer, but have been too busy to sell any cars in the past... number of years. There's two of us, and I certainly don't need 3 BMW's. I bought this car in 2004 for $ 51,000 USD with about 13,000 miles, and it came from the Miami, FL area. The rubber seals were cracked when I got it, so it has seldom been garaged, unfortunately. The paint has the clear coat half off, but repainting it right would be expensive, and if I ever did take it to the auction, I'd get dinged with a half-assed paint job that would make it appear to hide accident damage.

What's great -- > Low Mileage, no accident, leather in good/great shape, lifts work properly, runs great, handles fantastic with the sports package, (Wheels say STS), the engine is strong, and accelerates from a stop properly without any hesitation, (as my other 2001 oil soaked ignition does).

Here's what is wrong with it -- sadly, most of this is nothing but sun damage.
  • It's 2001, but an earlier model that has the old MK (1?) Nav screen, (my other 2001 has the later Mk3 screen)
    Speakers shot (even on my "always garaged" 2001, they've blown recently as well :( ).
    Nav screen needs replaced from sun damage (but, it works).
    One window regulator in the back / drivers
    Hood won't open (got any advice to easily pop it while minimum disassembly?)
    Mileage must be validated / determined, since the LED's are illegible and need replaced. (Will and OBD give me that??)
    Mirrors need replacing
    Taillight plastic needs replacing
    Center console phone cradle no lock
    Needs a new great set of tires
    Missing one hub cap/cover (ETC or something?? I don't remember)
    Battery is somewhat weak, I think
    Paint has clear coat half-off --- Will need someone that knows if and how to refurbish or repaint.
The problem is this: I can't figure out how to price this car!! --- A NORMAL buyer should NOT get this car, but it would be a real find for a collector. the other problem is, getting someone to spend the time getting it in first class shape, and doing the work. I'd bet, based on what I saw on BaT, it's likely worth 10k USD today in great shape, and would likely go up every year. Cost to get it there?? 2-3k ??

It has never been in a wreck of any kind, (I don't believe, but could and would verify). In addition to the price, I'd also like some suggestions of where to post it for sale in the US, (like Bimmerfest).

Bat Auction - >> https://bringatrailer.com/account/listings/new/?tab=1

brickwhite
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Re: Pricing 2001 e38 740Li with Sports Package, sell on BaT?

Post by brickwhite » Sat Jul 21, 2018 12:06 am

Sounds like you have an Idea of what you want $8-10k-ish...?????

The newest E38 is 15 years old and they were one of the first BMWs with all the bells an whistles. Which means the most electronics to break. Some of the modules were in the passenger floor boards and window seals likes to leak and cause havoc. The M62 is a leaky mess too. I think they are great looking cars but a electrically troublesome when the get old.

With paint and other issues you probably won't see that kind of Money..... More like $4-5K.

Some sites you can try.

-https://www.bimmerforums.com/forum/foru ... lassifieds

-BAT

-Ebay

-Cars.com etc...

-Facebook marketplace

just compare what's out there on BAT or Cars.com and set your price... See what bites.

This one is really nice and sold for $10.5 https://bringatrailer.com/listing/2001-bmw-740il-14/

my .02
- 12 535i
- 92 325ic
- 88 535is
- 85 M635csi

- 63 Triumph Tr-4

Pod
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Re: Pricing 2001 e38 740Li with Sports Package, sell on BaT?

Post by Pod » Sat Jul 21, 2018 7:21 am

I think you're on the wrong forum here.........................

DaaBoss
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Re: Pricing 2001 e38 740Li with Sports Package, sell on BaT?

Post by DaaBoss » Sat Jul 21, 2018 5:24 pm

Thanks! Much appreciated advice. A few comments / questions below:
brickwhite wrote:
Sat Jul 21, 2018 12:06 am
Sounds like you have an Idea of what you want $8-10k-ish...?????
--- No, not really. I'd like my 50k back, but if I got close to whatever the market was, if exposed to the right foks that might want it, then that's about all I could expect. however, putting it in the local auto trader is not going to do it, since I doubt if there's more than one or two individuals that might want a "project", and have the time and money to devote to it.
brickwhite wrote:
Sat Jul 21, 2018 12:06 am
The newest E38 is 15 years old and they were one of the first BMWs with all the bells an whistles. Which means the most electronics to break. Some of the modules were in the passenger floor boards and window seals likes to leak and cause havoc. The M62 is a leaky mess too. I think they are great looking cars but a electrically troublesome when the get old.
I guess I've been lucky on the electronics for the most part. The rough one has remained without many problems at all. However, my "nice" one, that I've tried to take care of, not so much. With less than 80k, that one woke up one morning in my garage to a timing chain that was completely gone!, at least one thrust arm gone, three expansion tanks, thermostat that stuck and almost destroyed the engine before I caught it in time, and an alternator, ($150 rebuilt, BTW). Luckily, the only electrical problem other than alternator, is that it's got a current drain coming from the nav system that won't shut down. (Any direction to diagnose would be great, if I can keep my radio and also use the Mk3 nav, instead of completely disabling it).
brickwhite wrote:
Sat Jul 21, 2018 12:06 am
With paint and other issues you probably won't see that kind of Money..... More like $4-5K.
Q-- Are you predicting $4-5k AFTER doing all the work?? If true, that good to know.... I've have a few casual offers of 1,500-2,500 that frankly, I didn't know what to do with.[/quote][/b]
brickwhite wrote:
Sat Jul 21, 2018 12:06 am
my .02
Sorry, I decline your kind offer, as I was hoping for "a little more" !! :-({|=

dmac156
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Location: Portland, Oregon

Re: Pricing 2001 e38 740Li with Sports Package, sell on BaT?

Post by dmac156 » Sun Jul 22, 2018 2:15 pm

You can do a search on BAT and Ebay to see actual sales results. The e38s that break $10k are typically well under 50k miles, perfect condition with maintenance history, short wheel base cars (not li), sport package, and good colors. Doing the search on sold cars will give you the info you are looking for. GLWS.

DaaBoss
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Re: Pricing 2001 e38 740Li with Sports Package, sell on BaT?

Post by DaaBoss » Sun Jul 22, 2018 4:51 pm

VERY helpful to get a range..... Sounds to me that, if I took 2-3,000 now, as is, that would be a great price. I might also run it through the auction to see what the "buy here pay here" guys think, (although I'd have to detail it first). Well --- My 2003 e65 is up on stands waiting for new thrust arms, so I'd better go to work now.

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