Silverstone Auction

[Jet]

http://www.silverstoneauctions.com/1990-bmw-z1

http://www.silverstoneauctions.com/bmw-z1

[Pat Slade]

Doubt it was manufactured in 1990 with chassis no of AL0170. Or perhaps this is another misprint like the Reg. number!

Pat

[Pat Slade]

Perhaps I am being a trifle a..l. But just noticed the indicator repeater on the front RH wing is upside down, compared to my UK car.
Perhaps it is an import or has had wing damage?
The photos are not helpful to review the condition.

Pat

[pingu]

Either the roof leaks, or the passenger pi$$ed themselves .

[Jet]

Doubt it was manufactured in 1990 with chassis no of AL0170. Or perhaps this is another misprint like the Reg. number!

Pat

The day it was registered being different to its Manufactured date.

[Green Genie]

The website says unsold...

http://www.silverstoneauctions.com/1990-bmw-z1

ETA
Website now showing sold for £18400

http://www.silverstoneauctions.com/1990-bmw-z1

[TJS]

I had a good look at the car on Saturday.

The interior needed work, nothing a little tlc wouldnt solve. The yellow leather needed to be recoloured and the seat material was faded and thin (as usual) but I have seen worse. The leather around the dash and instrument pod had shrunk and was creased. Not sure if plenty of liquid leather would help, certainly it would do no harm. Radio unit was a non oem replacement

It had an aftermarket exhaust, two twin pipes and the bonnet had been repainted, not particularly well, but again retrievable. Part worn Contis on unmarked wheels, a couple of new decals on the centre caps required.

The colour was described as Lhassa Green, but look standard Z1 metallic green to me. The near side, rearmost front wing mounting hole was split fore and aft and the wing was not probably not fully secured, the rubber washer was crushed so probably over tightened. A couple of the under tray / front wheel arch screws were missing, again easily solved. Correct screws in the front light units. The cambelt service sticker was on the fuse box cover and almost illegible with overwritten dates. If the cambelt was replaced by a BMW dealer I would have insisted on a new sticker, they are cheap enough.

The top was down and the car locked so the sound and action of the doors was unknown. Relatively low mileage and reasonable service history with potential to be a very good car when the above issues are dealt with.

TJS

For me the star of the auction was the attached .... excellent condition and great history ! The pre sale estimates were a real tease !!

http://www.silverstoneauctions.com/1959 ... coupe-2932

[Racing Tortoise]

So Hexagon bought it at at the Silverstone auction for £18.5k and are seeking to flog it for £30k. I defy anyone to deny that this is not the same car. Has same mileage, same exhaust, same-looking interior.

http://www.hexagonmoderns.com/car_sales/BMW-Z1/9335.htm

That is an outrageous mark-up. Two things I note from this: (i) never buy a car from Hexagon as it is massively overpriced and (ii) I am not in the right line of business...

[TJS]

Good spot. It's the same car, the cam belt sticker on the fuse box cover gives the game away. The lemon leather interior has been re coloured. As per my earlier post the car certainly had potential, just needed some tlc.

Hexagon have always been overpriced. However, I hope it sells as it would demonstrate that Z1 have been undervalued compared to other classics. Dealers buying at auction and reselling very quickly is nothing new.

The under noted Lotus Esprit was sold late last year at the H&H Duxford auction for £18.2k The car, recently serviced, had a poorly fitted engine cover and a scuffed leather seat, both easily fixed. Bought by a dealer and advertised at £34k 10 days later and since sold.

http://www.classic-auctions.com/Auction ... 36490.aspx

http://www.uksportscars.com/view/lotus- ... le-esprit/

At the same auction I was the under bidder for the Aston Martin, again bought by a dealer and sold for £62k

http://www.classic-auctions.com/Auction ... 36522.aspx

Perhaps buyers prefer to purchase from and pay the dealer mark up for peace of mind. All the above cars needed very little mechanically, maybe a professional valet for £1k (?)

TJS

[pingu]

Hexagon bought the car with no guarantee (other than a standard 1 hr warranty, perhaps).

The new owner will get a 12 month warranty, possibly with the same cover as a full BMW AUC warranty, but funded by Hexagon. It will have 12 month MOT, 12 month VED and possibly a guaranteed MOT pass next year. These are worth a lot of money to a lot of people.

They have also tarted the car up, which is also worth a lot to most people.


Buying at auction is a BIG risk. I've won more times than I've lost, but I have lost - and it hurts. If you want to take the risk, pay £18.5k, if you don't, pay £30k.

[edited to add: there would have been a buyer's premium on top of the £18.5k as well, so the probably paid close to £23k to get it to the state that it's in now, if you include transport, tarting-up, wages, etc.

The good news is that you know that a £25k bid should still be profitable for them ]

[Racing Tortoise]

Sure, but I never saw a dealer accept nigh-on 20% under the asking price on a used car.

[pingu]

Sure, but I never saw a dealer accept nigh-on 20% under the asking price on a used car.

Have you ever asked?

I wouldn't expect them to accept £25k on the first ask in the first week of it being on sale.

I do know that Hexagon sell cars below the for sale price because I have a 330 on my driveway that was 2.5 below the sticker price. That was 10% off. I gave them the highest price I was going to pay and the next month they phoned me. I said my price had dropped by £500 and they took the deal.

If you offer the £25k now (and tell them you are serious with cash waiting) and walk away, they won't sell it now, but they might in a month or two. Every month on their books costs them circa £1k.

If they can turnover £25k with £2k profit in less than a month, that is better than getting full sticker price in six month's time.

[Racing Tortoise]

Yes. And never better than circa 10%.

[Green Genie]

And now on video...

http://youtu.be/8O9xPxvxKkQ

[TJS]

Pity they describe the colour as Boston Green ..... BMW specialists !!

[Jet]

9000km, 35,000 eur....

http://www.ebay.de/itm/BMW-Z-1-/2714870 ... 3f35e36d00

[felix]

9000km, 35,000 eur....

http://www.ebay.de/itm/BMW-Z-1-/2714870 ... 3f35e36d00

The reserve wasn't met - that car is on mobile.de for €47,500.

[TJS]

The above ex auction car now listed as sold ..

http://www.hexagonmoderns.com/car_sales/BMW-Z1/9335.htm

TJS