Flood Damaged M3
There was a flood damaged M3 a few weeks ago... I went, thinking I might be able to pick it up cheaply, but found there was waaay too much damage. Couldn't find any damage to the interior, but spoke to the auctioneer, who said there was major engine damage (showed me a pic of the oil pan, baffle and pick up tube removed - a rod had either broken or smashed completely)... which means a complete engine rebuild!
Anyway, went to the auction to see how much it'd go for... 78,000$ + auctioneers fee! WOW... an M3 engine, second hand, shipped from Germany, costs at least $20,000 shipped (eg: shipping fees + customs duty + quarantine). To fix it, assuming no labour costs, and not including the Written Off Vehicle Inspection, would cost about $100,000 alone! Could pay a little more and just buy a second hand one.
Attached are a few pics I took before I spoke to the auctioneer.