FS: 2004 BMW 330Ci Coupe $25,990

[ELCID86]

You guessed it.
http://enthusiastauto.com/qsearch/?id=4629&form_display=51#.UfLT8m2AHhc

[danewilson77]

Holy shit!

Sent from my HTC6435LVW using Tapatalk 2

[BCS_ZHP]

Pretty sure he only paid about $20K for this. Had a talk with one of the EAG owner brothers this week, tried to work a double sale of the e39 wagon & GiGi's conv (and then she waffled on selling it, it's now not for sale). They offered me $18K for the conv, said they had to budget $2K on every car for reconditioning, told me he'd probably ask $25K for her conv. I reminded him of this $26K coupe in his inventory, he said he would make less than $4K if it sold for that given his purchase price, reconditioning, & transportation costs.

[ELCID86]

Strange business model I think.


Shawn in VA.
Via thumbs and Tapatalk.

[BCS_ZHP]

Why strange, I'd do it all day long if I could. So 20k to buy it, maybe 2K (think he was BS'ing) for rehab & transport, clear 4K and that's a 20% profit for inventory that they only hold maybe a month. He told me they try to maintain 25-50 M3s & ZHPs in stock but hard to do as they turn them so quickly. But it's taken him years to establish the reputation as the go to guy for top of the line coupes, that's the priceless part.

[E_Rak]

There is a buyer out there for everything eventually...

[BCS_ZHP]

After witnessing Bimmerfest last weekend, there are many people with more discretionary income than you can imagine. Also another crowd with more money than sense, saw several examples of gold teeth in an old plow horse too.

[trancenation]

Inflates our cars values!

[ELCID86]

Why strange, I'd do it all day long if I could. So 20k to buy it, maybe 2K (think he was BS'ing) for rehab & transport, clear 4K and that's a 20% profit for inventory that they only hold maybe a month. He told me they try to maintain 25-50 M3s & ZHPs in stock but hard to do as they turn them so quickly. But it's taken him years to establish the reputation as the go to guy for top of the line coupes, that's the priceless part.

I suppose. Also have to account for overhead, salaries, insurance, etc. Perhaps you could work a dealership out of the back of your current business location :shifty

[BCS_ZHP]

I suppose. Also have to account for overhead, salaries, insurance, etc. Perhaps you could work a dealership out of the back of your current business location :shifty

Nah, already ran a wholesale commercial truck business back in the early-to-mid 90's, it's a lot of work that consumes you 24/7. That one was all about turning volume, no overhead, no storefront, a decent profit per transaction as we bought & sold fleets but risky as we took back the occasional turd to maintain our reputation & customer base.

The EAG model is the exact opposite, low volume, high quality, high prices, lots of overhead with a storefront & warranty. You need a big bankroll to pull off what they're doing but if you've got that the ROI can be great. It's something I'd might like to try later in life after the kids are thru college, I'm too risk averse and conservative to attempt it at this point in my life.

[illirep]

That car is pending sale already at that price. Pretty remarkable.

Their margins may only be a few grand on the zhp's and m3's, but I know from personal experience that some of those e39 m's are marked up closer to $10k a piece. And their inventory turns over like hot cakes. Dream business, great business model in my opinion. To be able to buy a turn key, rare, gem, that are often times fully depreciated, beats the alternative of buying a new econo box loaded Camry, accord, etc that will depreciate 40% in year 1. Believe me, I have personal experience there as well. Bought a 2012 Camry SE v6 when baby no. 2 was on the way, $32k out the door. When I realized I made the mistake of a life time a month later, same dealer offered me $17k to buy it back. I ended up selling for $25k private party, but still a huge hit! If the same money was spent on a $32k m5, they probably would have taken it back for $30k or so....