BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 (E90 / E92 / E93) > Regional Forums > Australia
 
Alpine HID
Post Reply
 
Thread Tools Search this Thread
      07-05-2009, 09:48 PM   #1
dontask
Second Lieutenant
 
Drives: White BMW 135i
Join Date: Mar 2009
Location: Brisbane

Posts: 266
iTrader: (0)

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.
Attached Images
   
__________________

Modded 135i
RHD Bumblebee
dontask is offline   Australia
0
Reply With Quote
      07-05-2009, 09:57 PM   #2
amk2912
Lieutenant Colonel
 
amk2912's Avatar
 
Drives: '10 X5 40d & '12 F10 520d
Join Date: Dec 2007
Location: Perth

Posts: 1,663
iTrader: (0)

It's also got the 08 iDrive so no doubt it was a pre-Sept 08 built. They're dreaming!
amk2912 is offline   Australia
0
Reply With Quote
      07-05-2009, 10:11 PM   #3
dontask
Second Lieutenant
 
Drives: White BMW 135i
Join Date: Mar 2009
Location: Brisbane

Posts: 266
iTrader: (0)

I went to the auction and it sold for $78000 + buyer's premium. I seriously can't believe it went for that much!

I auctioneer actually said it would go for about $80,000, but I was like - "yeah, right".

Anyway, I think someone got jipped! Wonder if the buyer knew what damage the car had (couldn't see the engine damaage if you didn't ask).
__________________

Modded 135i
RHD Bumblebee
dontask is offline   Australia
0
Reply With Quote
      07-05-2009, 11:15 PM   #4
Bdez
Private First Class
 
Bdez's Avatar
 
Drives: E92 M3 Jerez & Fox & X5 3.0d
Join Date: Feb 2008
Location: Brisbane

Posts: 165
iTrader: (0)

Thatís actually not an unusual return for auctioning a late model prestige car of this type. The auction price is around 40-45% of the pre accident market value because the insurer would have replaced it with a new one in all probability (less than 2 years old). On this basis Iíve seen returns for late models HSVs and the like much higher in the past. The average return for flood damaged vehicles across the board is around 30% which includes old and newer models. Go figure !
Bdez is offline   Australia
0
Reply With Quote
      07-05-2009, 11:36 PM   #5
dontask
Second Lieutenant
 
Drives: White BMW 135i
Join Date: Mar 2009
Location: Brisbane

Posts: 266
iTrader: (0)

Quote:
Originally Posted by bdh2009 View Post
Thatís actually not an unusual return for auctioning a late model prestige car of this type. The auction price is around 40-45% of the pre accident market value because the insurer would have replaced it with a new one in all probability (less than 2 years old). On this basis Iíve seen returns for late models HSVs and the like much higher in the past. The average return for flood damaged vehicles across the board is around 30% which includes old and newer models. Go figure !
You're probably right - but if you can't source a new engine for a reasonable price, you're basically screwed (unless you're a crook and going to rebirth one! So watch out if you have a jezza black M3 with cream interior!

Seriously though, you can source a crate engine for a late model HSV without too many dramas... the M3? Not so much...
__________________

Modded 135i
RHD Bumblebee
dontask is offline   Australia
0
Reply With Quote
      07-05-2009, 11:53 PM   #6
Bdez
Private First Class
 
Bdez's Avatar
 
Drives: E92 M3 Jerez & Fox & X5 3.0d
Join Date: Feb 2008
Location: Brisbane

Posts: 165
iTrader: (0)

Quote:
Originally Posted by dontask View Post
You're probably right - but if you can't source a new engine for a reasonable price, you're basically screwed (unless you're a crook and going to rebirth one! So watch out if you have a jezza black M3 with cream interior!

Seriously though, you can source a crate engine for a late model HSV without too many dramas... the M3? Not so much...
Youíre right that the engine is the issue here Ė not easy to get a new one and a second hand one is obviously out of the question. If the engine had of been OK then thereís a chance at fixing it but having said that the auction price would have been far higher. However I wouldnít want to buy it no matter how well it was fixed.

Who buys these types of cars at auction and then what happens to them is quite interesting. Hopefully full disclosure is made to buyers but its probably doubtful.
Bdez is offline   Australia
0
Reply With Quote
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 01:45 PM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST