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Why This $11k BMW M5 Could Be a Steal
The Daily Vroom
Hey Vroomers!
Let’s get straight into it today, no chit-chat.
Catch you tomorrow,
Sam
MARKET LEADERBOARD
💰 The figures shared below don’t count any other sales such as car seats, memorabilia etc… All online auction sites are analyzed to put this leaderboard together.
I only include websites that have sold 5+ vehicles in the chart below.
How I wish this table were packed with more platforms, each showcasing their sales success stories. But here’s the thing: even though most platforms struggled to sell more than a handful of cars—most barely hitting five—the overall market still pulled in impressive sales numbers. Total sales were close to $8 million, which is an undeniably strong showing in any context. It’s a reminder that the market's got some serious firepower, even when individual platforms are grappling to keep up. With more participation and broader representation, these figures could soar even higher.
YESTERDAY’S TOP 5 SALES
Want to dive deeper into any of these listings? Just click on the car to take you directly to the listing.
Alumni Listings
One of the things I really dig about BaT's Alumni Listings is how they give us a front-row seat to price trends for specific models. It's like getting a backstage pass to the classic car market, letting us track how a car’s value shifts over time by comparing its latest sale price to its previous stints on the site.
Today, I’m shining a light on a couple of interesting cases from the Alumni Listings. Now, if you take a look at the diagram above, you’ll see that yesterday’s sales trends for these Alumni cars aren’t exactly setting the world on fire. But let’s break down some of these listings.
First up, I’ve got to mention the one Alumni listing that didn’t make the cut as it did not sell yesterday: the LS3-Powered 1937 Chevrolet Business Coupe 6-Speed. This beast sold for $280,000 back in July 2022, right when we were riding the post-COVID wave of wild prices and easy money. Safe to say, it was bought right at the market’s peak. Views for the auction were also up by 66% back then compared to yesterday’s auction, so the interest was sky-high.
The seller here is one of the best in the game, so presentation wasn’t the issue. And to make matters even tougher, the engine’s been rebuilt since the last sale, adding to the costs on top of that eye-watering purchase price. There’s a slim chance it might get scooped up post-auction, but realistically, this looks like one of those auctions where the seller’s just going to have to sit tight, cross their fingers, and hope the market bounces back. There are still plenty of ways to sell a car like this, but it’s all about timing—and right now, the stars just aren’t aligned.
Another one that caught my eye is the 2012 Audi R8 V10 Coupe 6-Speed Conversion that just sold for $72,000—significantly down from the $96k it fetched just 10 months ago. The word on the street is that going no reserve usually drives up the price, but unfortunately for the seller, that didn’t happen this time.
To my naked eye, the presentation in the first auction was a touch sharper—not necessarily the key differentiator, but it does help. This sale price is one of the lowest I’ve seen for a gated V10 R8 online, so the buyer must be over the moon. For the seller, though, it’s a bitter pill—a tough outcome when you’re banking on the market to hold its ground, it’s the risk you take with a NR auction.
Potential Bargain Of The Day
This 2002 BMW M5 is shaping up to be a real contender for bargain of the day. With bidding currently sitting at $11,100 and just hours left until the auction ends, anything in the $15k-$18k range could be a steal for this modern classic. The E39 M5 is often hailed as one of BMW’s finest, thanks to its timeless styling, roaring S62 V8, and that sweet 6-speed manual transmission that makes it a true driver’s car.
There’s been a decent amount of action on this auction already, which tells me a few savvy buyers know exactly what they’re looking at here—a well-maintained M5 with some tasteful mods, like a muffler delete and short-throw shifter, that only add to its appeal. Plus, it’s got some solid factory equipment, including the sought-after 18-inch Style 65 wheels and Nappa leather upholstery. Sure, it’s not without its flaws—there’s some wear on the seats, a bit of corrosion by the fuel filler, and a little oil seepage—but nothing out of line for a car with 152,800 miles on the clock.
What’s really interesting here is that the seller has some motivation to move this car, which could mean that the reserve price is set more on the realistic side rather than trying to chase top dollar. In this market, a well-presented M5 with a clean Carfax and some recent service history can be a tough find at this price point, and the fact that there’s genuine interest from bidders is a good sign that people know this is one worth keeping an eye on.
With the reserve looking like it could be within reach, this M5 might just end up as one of those deals that makes you wonder why you didn’t jump in yourself. Keep an eye on this one—it’s a classic example of how sometimes, the right car at the right price can slip under the radar and turn into the buy of the day.
Your Feedback
Yesterday we asked you ‘Which strategy do you think is the best path forward for smaller online car auction platforms?’ And boy did we get a lot of votes, probably our top 5 most voted poll.
Here are the results, with ‘hosting their own events’ winning the race. I’ve added a selection of your comments below. (I couldn’t feature all of them, too many, but appreciate every one of them).
The world is full of noise and confusion. Brands that fill a niche, speak to a certain segment’s passion, and stick to it will really have an advantage long-term.
They need to start localized. Market their service through events in a smaller area of coverage. I don’t see a need for everyone to go national right away. Develop a reputation in a concentrated market and then expand from there. There are many examples of smaller businesses expanding too fast but couldn’t sustain the growth.
I agree with the idea of showing up more offline- so many of the collector car /car guys are really unaware of online options. Also, I have mentioned this before, the online players need to step up their game in validating and verifying vehicles and vet their bidders better. You have said on a number of occasions, how do we know if the sale went through? With more offline presence and better quality vetting the vehicles and buyers, I truly believe this is the way of the future. More Auction House and less match-maker! (I was at BJ for nearly 10 years before going to work for 911r !)
The BAT Alumni gatherings say it all. Connect with your clients! Make it simple, yet significant.
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