$99k e46 m3

[SV_M3]

Though it seems ludicrous to think about buying these at these prices, for a patient investor the 10 year hold and wait on these two could be a smart move. Limited asset class investments have been doing exceedingly well (art, watches, even purses!!) Will be interesting to see what these might be worth 10 years from now assuming they stay stored and such low mileage. I'm not that type of investor and buy to drive, but many of made a good living or good return being the opposite.

[EnderG60]

I want to know who, if anyone, is actually paying these prices.

Granted I usually underestimate the stupidity of people...but come on!

[Groundpilot]

What kind of BS is this

[nholmes]

Thanks for the laugh, R&T!

[eyanez1230]

Apparently, Yahoo has published this post on their homepage...

https://www.yahoo.com/autos/buy-bran...155433100.html

[Eliminator 429]

Who seriously buys a car new and doesn't put more then 500 miles on it? The engine isn't even broken in yet...

[Edward]

Originally Posted by SV_M3

Though it seems ludicrous to think about buying these at these prices, for a patient investor the 10 year hold and wait on these two could be a smart move. Limited asset class investments have been doing exceedingly well (art, watches, even purses!!) Will be interesting to see what these might be worth 10 years from now assuming they stay stored and such low mileage. I'm not that type of investor and buy to drive, but many of made a good living or good return being the opposite.

Expecting a healthy return on a car isn't as simple as picking a cool car and not driving it. Rarity and race winning pedigree drives that auction market. Old race winning Ferraris will always appreciate in value and outpace inflation and general markets by a good amount. Even with art, you kind of have to be able to outbid foundations and ultra wealthy collectors to own the kinds of pieces that are actually going to keep appreciating.

See what this dummy did here...He bought a car that maybe stickered for $47k. For 12 years it sat there taking up space, all while he didn't benefit from the built in warranty, nor did he actually get to even enjoy the car because he DIDN'T DRIVE IT.
I'm sure he didn't pay to register it annually, hence him trolling around the airport once in a while like the article says. In any case, he sold it for less than the asking price at EAG. For comparison, a caveman could have invested in any typical index with that same $47k. compound that at a conservative 6% for 12 years (04-16) and you end up at roughly $94.5k. You'd pay the same long term cap gain on profit as you would on the car and regular state cap gains whether you sold a price appreciated Subaru to a lesbian couple or sold the SPY index.
My point is that buying and storing a basic b*tch car like a civic M3 is really silly. I'd still love to take it off this guy's hand and drive the absolute piss out of it.

[SV_M3]

Ed you've definitely applied a bit more thought than me and as some one who also sees cars are something to drive vs sit around, I could never let cars like this sit in my garage!