Modern Classics - difficult market?

[Cryssys]

I've been trying to sell my 97 M3 Evo for some time now and have advertised it on both Pistonheads and AutoTrader. It's a nice car, in good condition and low mileage. I've put it on at what I believe is a fair price but I've had absolutely no interest whatsoever. Not one call or even a cheeky offer from a dealer.

I didn't expect it to sell quickly but I am surprised at the complete lack of enquiries. Anybody else experienced difficulty selling similar "modern classics"?

I don't need to sell it so I'm quite happy to hang on to it in the hope that the market improves. Am I being overly optimistic?

[HughG]

I’ve had my 996 advertised for the last month and have also had relatively little interest. A couple of decent enquiries since I dropped the price a bit, we’ll see if anything comes of them this weekend.

[CKY]

I sold my E36 M3 Evo 5-or-so years ago now, <30k miles, a late car in a nice spec, I found a buyer for it eventually at a reasonable price but advertising it on the open market at the time resulted in 0 serious enquiries. I felt at the time perhaps it was because the E36 was yet to achieve 'modern classic' status, not sure if your car not selling might just be the market deflating and catching up post-Covid? A lot of stuff seems to be hanging around advertised for a while without selling, so shouldn't think it's anything to do with your car in particular.

[covmutley]

Cryssys said:

Am I being overly optimistic?

Whats the price?

And wots ur lowest price mate

[Unreal]

There are 15 for sale on here - cheapest is about £16K. The majority are well over £20K. I'm not surprised there's little interest at those prices.

[AlexGSi2000]

I agree - difficult climate at the moment.

I'm trying to sell an 07' M3 - very little interest and its priced keenly.

I reckon it would flown out the door at that price between 2021-2022.

[Belle427]

Looks like the market is very slow now for certain cars.
Probably similar to E46 M3 prices, good cars no doubt but hardly anyone would pay north of £15k.

[limpsfield]

It took me a year to sell my 2006 987 Boxster. It was typically the second cheapest for mileage and age.

Currently selling a 1997 MX5 and similarly quiet.

WIth some of the searches I have set up on Autotrader: e.g. 911s; FType - cars seem to be hanging around for some time.

[andymc]

Cryssys said:

I've been trying to sell my 97 M3 Evo for some time now and have advertised it on both Pistonheads and AutoTrader. It's a nice car, in good condition and low mileage. I've put it on at what I believe is a fair price but I've had absolutely no interest whatsoever. Not one call or even a cheeky offer from a dealer.

I didn't expect it to sell quickly but I am surprised at the complete lack of enquiries. Anybody else experienced difficulty selling similar "modern classics"?

I don't need to sell it so I'm quite happy to hang on to it in the hope that the market improves. Am I being overly optimistic?

Try m3cutters

[BricktopST205]

Cryssys said:

I've been trying to sell my 97 M3 Evo for some time now and have advertised it on both Pistonheads and AutoTrader. It's a nice car, in good condition and low mileage. I've put it on at what I believe is a fair price but I've had absolutely no interest whatsoever. Not one call or even a cheeky offer from a dealer.

I didn't expect it to sell quickly but I am surprised at the complete lack of enquiries. Anybody else experienced difficulty selling similar "modern classics"?

I don't need to sell it so I'm quite happy to hang on to it in the hope that the market improves. Am I being overly optimistic?

Boomers have all the money and Gen X and early Millennials who the E36 M3 is marketed at are skint.

I think the market is pretty rubbish at the moment anyway. Instead of buying that classic people are putting money into their mortgage.

[G111MDS]

Same experience recently when selling my S2 Lotus Exige. Other than a couple of dealer enquiries, next to no interest. Of course, had I been looking to buy the very car, countless people would have been clambering over themselves to get it

[tomsugden]

Talk to Andy at Old Colonel Cars. He just sold my XKR for £7k more than I was getting offers for. BMWs are his bread and butter.

[Esquire]

Collecting cars with a realistic reserve would be my suggestion. At least that way you'll know where the real bid is

[ThingsBehindTheSun]

BricktopST205 said:

Boomers have all the money and Gen X and early Millennials who the E36 M3 is marketed at are skint.

I think the market is pretty rubbish at the moment anyway. Instead of buying that classic people are putting money into their mortgage.

Absolutely, all the while mortgage rates were 1.X% and savings accounts paid virtually zero, people were happy to put their money into these sort of cars as a an investment.

Now interest rates are higher, a lot of people would rather pay a chunk off the mortgage than buy an expensive old car that in all likelihood is going to sit in the garage and barely be used.

[Kerniki]

The boomers comment is pretty bang on, early 90s collectors cars are selling like hot cakes, e36s weren't as desirable as the e30s/190 cosworths, the only later 90s cars that are bucking the trend are escort cosworths and the jap stuff, rx7s, supras etc.

Tbh e36 m3s in the day werent even ‘that’ desirable vs its predecessor or even as much as the e46 imo, except for the bmw fan boys, obviously.

Have you seen prices for evo2 e30 and evo 2 190s? thats your boomer market..

I put feelers out on fb groups for my 50k mile 2.5 manual cosworth (1990) and it was like a frenzy! though i am in europe..

[Jamescrs]

The car market for any type of performance car seems to be slow at the moment, i'm a member of two very different Facebook groups, one for Fx BMW Owners so M3 and M4 and nothing is really selling on there, I'm also a member of a couple of R53 Mini owners groups and owners there complaining equally about nothing selling. and some cars are very cheap on that group.

I think people just aren't buying cars currently unless they have to and then it's more bread and butter stuff than weekend toys.

[samoht]

I had my AMG C55 wagon up for nearly 6 months at a descending price until giving up and letting it go through Motorway for a pittance. Like you I was surprised by the lack of interest in what was an above-average example.

[bencollins4]

As has been said above, it’s a pretty terrible time to sell at the moment, and August / early September are generally dead due to holidays. Maybe a potential rate cut will give a bit more confidence next week, but it will take many more of those, I suspect.

The difference to a year or two ago is based around interest rates, which have pushed up mortgage repayments p, but also means £20 / £30 / £40k in the bank actually earns some interest now. There’s less confidence in these cars continuing to appreciate at the moment as well, and then insurance is up, so it’s a combination of factors that ultimate means these cars are not currently worth what most people are asking.

[Gary C]

Kerniki said:

The boomers comment is pretty bang on, early 90s collectors cars are selling like hot cakes, e36s weren't as desirable as the e30s/190 cosworths, the only later 90s cars that are bucking the trend are escort cosworths and the jap stuff, rx7s, supras etc.

Tbh e36 m3s in the day werent even ‘that’ desirable vs its predecessor or even as much as the e46 imo, except for the bmw fan boys, obviously.

Have you seen prices for evo2 e30 and evo 2 190s? thats your boomer market..

I put feelers out on fb groups for my 50k mile 2.5 manual cosworth (1990) and it was like a frenzy! though i am in europe..

Not really boomers, more early Gen X

for us it has to be an E30 M3 to be interesting. Maybe in 10 years a E36 will become sought after as the 20 year olds in 97 will be coming into their pension lump sums and looking for something to splurge on.

[anyoldcardave]

limpsfield said:

It took me a year to sell my 2006 987 Boxster. It was typically the second cheapest for mileage and age.

Currently selling a 1997 MX5 and similarly quiet.

WIth some of the searches I have set up on Autotrader: e.g. 911s; FType - cars seem to be hanging around for some time.

Its not just modern classics, old classics too, and the new and nearly new market not so good either, even bangers are not so bouyant and they used to fly out.

Auction prices took a dip, looked like a big price correction was coming, but it has not yet, and prices strenghtened somewhat.

Given up trying to move classics right now, drive and enjoy lol, def. not trying to sell projects anymore..

The only one that sold quickly, was my Eunos, and very nearly for asking price, but it was a bit unusual, needed a buyer who wanted one.

1993 V-Spec, 1.8 Auto with a low 85k, lots of history and nice condition, it was keenly priced though, for one with no rust and a new mot.