Damaged prestige vehicle auction prices!!

[EDManual]

I went to buy a wrx with a couple of mates for racing autocross etc, was near no damage, just a few little dents and windscreen, we didnt want to register it, even though it was a repairable write off. 98 model with 170k km, went for $2500. I bid to $2400 but the other guy bidding against me was pretty keen so stopped.

What I did notice was how CHEAP "real" prestige cars are going for! mad prices! One that really caught my eye was a 99 BMW E39 V8 M5 6 speed manual, that had a high nose bump, lights, grill, bonnet, not much damage (repairable write off), engine was perfectly preserved! Interior perfect (no airbags fired), went for $4300!! You could make an awesome car with all the gear out of that! 400HP, 7000rpm, they do 300km/h unrestricted! Engines alone (not including gearbox, electrics etc etc) are over 8 grand second hand from wreckers! How cool would that gear be in a hotrod, mx5 or anything really!

A 2008 Renault Megane sport went for about $5000 with just a bit of front damage (no airbags fired)!

2010 WRX rolled over went for $3500! Just reshell and it would be perfect!

Late 90s 318, 320 BMWs with no damage apart from minor hail damage and not on the WOVR go for $400 to $800!!

[XARATE]

Wow certainly cheap! Where was this at if u dont mind sharing?

[Yellow_Festiva]

Some good buys for sure.

Last prestige auction I went to, there was an orange Kossenneggexyz that went for like 1.4mil

[Cheese3]

that m5... i love the V8 m5, last of the real muscle euros

[b2tf]

I wonder if thats because the parts prices to repair them are through the roof? Seems cheap though.

[EDManual]

at Manheim in Melbourne.

[Nikked]

Originally Posted by b2tf

I wonder if thats because the parts prices to repair them are through the roof? Seems cheap though.

BMW parts are stupid expensive...well some are. Wing mirrors, headlights etc are usually on the other side of $1000


All dependant on model of course.

[nstg8a]

is that the actual selling prices? seems way too cheap. i would have thought any wrecker would have been paying that easy?

[happy1]

Unfortunately my BF F6 (11/2005) got written off ('repairable') last week when I slowed down and stopped for a pedestrian crossing the road. A 4WD behind me didn't stop until its nose was through my rear window. My damaged F6 was sold by the insurer at Pickles Perth yesterday for 9750 + fees to some online internet bidder. I would have thought bidding would have stopped about 7 grand, but someone kept bidding..

At the same auction there were a lot of other nice, newer, 'ordinary' cars selling for between 6000 an 8000. One VE Series 2 with small front damage sold for 6750. One BA Fairmont V8 with small rear damage sold for $1900, One FG Falcon with small rear quarter damage sold for $6000. An Audi A5 Tdi quattro with small front damage sold for $ 14000. One VE Commodore without body damage, just small dents from vandalizing and broken glass, sold for $3500. One XR5 Turbo (blue with a huge aftermarket intercooler) with small front damage, and scratched doors on one side sold for $7500.

[xisled]

At auction these cars go cheap. The reason they go cheap is if you were to reapir the car your self, it would cost you more than what the car is worth. If you were to put the car back on the road, would would be looking at around $500 for a VIV, plus the cost of roadworthy $180 and rego $650.

If we look at the example of the first WRX. $2500 for the car, plus the fee on top that the auction charge, around $500. So the cost of your WRX to get back on the road without any repair work but including the VIV, RWC and Rego plus cost of the car it brings you to $4350. You then need to add cost of repair, which could be anywhere from $1000 to $10000.

So yes the prices may seem cheap, but you need to look at the whole picture.

The only way to make money from these things is to part the car, or be a panel beater.

If you are looking for a new running gear for your car, I wouled suggest the auctions as you have pointed out some great bargins.

[stevz]

I went to the pickles storm damged auctions in melbourne recently and people were paying exorbitant prices for crap. They read out a disclaimer stating that as these vehicles were listed on the write off register, no insurance company would insure them when put back on the road. Why would you bother going through all the hassle when for not much more you could buy an undamaged example.

[Iggypoppin']

That BMW would have been great for me!! Engine, sell, keep the manual and everything else, add mod motor and kenne bell and we are away!
Oh well :(