E60 M5 25th Anniversary Edition, Frozen Grey - Auction Today
Discussion
Went to BCA auction today to see this:
I have been looking for an E61 M5 but due to lack of available tourings for sale and having seen this rather rare looking, low mileage late E60 M5 I went willing to buy if it looked OK and went for a good price.
It was a 25th Anniversary Edition model (only 27 worldwide and 11 RHD as far as my research could find out). From the chassis number of the car I believe that it was number 3640 of the 3646 RHD E60 M5's produced. It was in the Frozen grey paint work, piano black trim, very latest i-drive tech, etc, etc. What with the low mileage it could have been a pretty rare thing.
The auction condition report highlighted minor dent to the bonnet and scratch on front bumper, so I did my research and consulted a BMW bodyshop regarding repairs to 'frozen' and they said the only thing would be full respray to bonnet and bumper as it is impossible to 'blend'.
In the flesh damage was probably worse than it looks in the pics, the dent in the bonnet was definitely not a PDR job, it had gone through the paint.
Overall the car was in good nick. Mileage showed only 4016 but as 'unwarranted'. I consulted the dealer (BMW) putting it into auction and they couldn't (or wouldn't) give any further information. I therefore consulted my local dealer to check on it's history. It had been supplied new on 22/12/2010, and had been back to the supplying dealer on 797 miles and 1170 miles in Feb and May 2011. Then it went to a seperate dealer on 3859 miles in late 2011 (who I phoned and they said all it had was tyres). So one would have to take it at face value that the car had done less that 200 miles in almost a year since late 2011 AND the fact that when looking at the tyres today all 4 needed replacing. So this was my suspicion number 1.
Suspicion number 2 was some damage under the front bumper to the plastic trim, and after chatting to an experienced buyer there today, he had concerns about panel fit on front o/s corner and bonnet lines. He thought it had a minor shunt.
The car went for £32,800.
Prior to attending the auction I did a HPI (clear, so if it had a shunt was unrecorded) which came back with value at £40,725 and the CAP value was £38,500. However, I suspect that neither of these took account of it being a special edition. My plan was to buy, get paintwork repaired and serviced and keep for a few months and hopeully not lose a penny and then maybe put it up with 4starclassics for sale. However, the suspicions I had over mileage and possible shunt took down my maximum I was willing to bid from £32,500 to £31,500, both of which wouldn't have been enough. (Buyers fee would have been just shy of £1,000!!)
So a fun day at the auction (see my other post in regarding a mini auction report) and in some ways gutted that it didn't work out as hoped but in another way I am glad I stuck to my guns. I will be interested to keep an eye out for this car once a dealer has spent a few quid. In my opinion it could have cost £2k in paint, £1.2k in tyres, needed a service (who knows but up to £1k?) and still it wouldn't have been 'mint'.
I have been looking for an E61 M5 but due to lack of available tourings for sale and having seen this rather rare looking, low mileage late E60 M5 I went willing to buy if it looked OK and went for a good price.
It was a 25th Anniversary Edition model (only 27 worldwide and 11 RHD as far as my research could find out). From the chassis number of the car I believe that it was number 3640 of the 3646 RHD E60 M5's produced. It was in the Frozen grey paint work, piano black trim, very latest i-drive tech, etc, etc. What with the low mileage it could have been a pretty rare thing.
The auction condition report highlighted minor dent to the bonnet and scratch on front bumper, so I did my research and consulted a BMW bodyshop regarding repairs to 'frozen' and they said the only thing would be full respray to bonnet and bumper as it is impossible to 'blend'.
In the flesh damage was probably worse than it looks in the pics, the dent in the bonnet was definitely not a PDR job, it had gone through the paint.
Overall the car was in good nick. Mileage showed only 4016 but as 'unwarranted'. I consulted the dealer (BMW) putting it into auction and they couldn't (or wouldn't) give any further information. I therefore consulted my local dealer to check on it's history. It had been supplied new on 22/12/2010, and had been back to the supplying dealer on 797 miles and 1170 miles in Feb and May 2011. Then it went to a seperate dealer on 3859 miles in late 2011 (who I phoned and they said all it had was tyres). So one would have to take it at face value that the car had done less that 200 miles in almost a year since late 2011 AND the fact that when looking at the tyres today all 4 needed replacing. So this was my suspicion number 1.
Suspicion number 2 was some damage under the front bumper to the plastic trim, and after chatting to an experienced buyer there today, he had concerns about panel fit on front o/s corner and bonnet lines. He thought it had a minor shunt.
The car went for £32,800.
Prior to attending the auction I did a HPI (clear, so if it had a shunt was unrecorded) which came back with value at £40,725 and the CAP value was £38,500. However, I suspect that neither of these took account of it being a special edition. My plan was to buy, get paintwork repaired and serviced and keep for a few months and hopeully not lose a penny and then maybe put it up with 4starclassics for sale. However, the suspicions I had over mileage and possible shunt took down my maximum I was willing to bid from £32,500 to £31,500, both of which wouldn't have been enough. (Buyers fee would have been just shy of £1,000!!)
So a fun day at the auction (see my other post in regarding a mini auction report) and in some ways gutted that it didn't work out as hoped but in another way I am glad I stuck to my guns. I will be interested to keep an eye out for this car once a dealer has spent a few quid. In my opinion it could have cost £2k in paint, £1.2k in tyres, needed a service (who knows but up to £1k?) and still it wouldn't have been 'mint'.
Edited by DanX5 on Monday 15th October 20:05
sounds like a good reason not to guarantee the mileageInteresting - now for sale at the same dealership that put it into auction:
http://www.bmw.co.uk/bmwuk/bmwauc/details/0,,1156_...
With a £12k mark up.....
http://www.bmw.co.uk/bmwuk/bmwauc/details/0,,1156_...
With a £12k mark up.....
Why is frozen paint impractical? I have a frozen grey M3 and its the easiest car I have ever had to keep clean! Other than only washing it with a shampoo that does not contain wax I don't see the problem? And why will the paint look bad in 5-10 years time? Mine is now 2 years old and 13k miles and looks as good as the day it left the showroom.and I personally think its the best colour for an M3 and much prefer it to my previous Jerez black car. Would have though the frozen cars are more sought after and attract a premium!?
Luca Brasi said:
Never understood this matte paint hype, it looks awful and is completely impractical. Wonder what those BMW's with frozen paint will look like in 5-10 years time..
Blowfish said:
Because most customers buy it because it's hip but have no clue how to take care of it, my dealer has had several with serious paint damage because of owner's negligence. And the fact that it 'll probably look awfully dated in a few years time when we've realized that matte paint just looks awful, just my 2 cents of course.Gassing Station | M Power | Top of Page | What's New | My Stuff