ZHP Prices and market - what is the deal?

[Tucci139]

I have been trying to sell my ZHP for about 1 month so its still early, but I have noticed a lot of folks selling "ZHPs" or "like-ZHP" on craigslist and other sites. Seems like ZHP doens't mean much anymore folks are buying non-ZHPs and modifying and saying its just as good - problem is we know its not. Anyone else see the problem?

Anyway, I may have to keep my car and drive it until it falls apart before selling for the same price of a standard 330i a few years older that someone on craiglist tried to convince me my car wasn't very special and its overpriced....

Oh well - I say to all the true ZHP owners - don't cave in to this market of tuners and low-ballers if you don't really need to sell. It's a shame, seems like the market from less then a year ago has really changed quite a bit. Anyone else notice this?

[Avetiso]

The people that are interested in buying ZHPs know the difference. You have nothing to worry about with these fake ZHPs, because no enthusiast would buy it.

[ZHPRegistry.net]

The ZHP prices will always remain squeezed between an ordinary 330i and E46 M3s. ZHP is not a model and that works a great deal against it. Unlike the E30 318is or any other "is" for that matter this is just a package which can be bolted onto a regular 330i. Does anyone recall the E36 M-technic? Most people don't care about what it is. Similarly to the ZHP it was built by the BMW Individual division.

[LivesNearCostco]

For real ZHPs, I think the supply of them for sale is now slightly higher and the number of buyers who both want them and can afford them is slightly lower. Plus the average one for sale now has higher mileage and is around a year older. The fact that the new 3-series is out (whatever came after E90, is it F30?) doesn't help. As someone who might buy another, I'm seeing asking prices ranging from $6,000 to $20,000 with most asking for somewhere between $8500 and $13,500. Even for the E36 M3 I see asking prices from $4000 to $20,000, though most of them are asking <$11,000. And the $20,000 one was professionally prepped to be a competitive GTS race car.

Some of the sellers I've spoken with (for E36 M3 and E46) have suggested that they see a lot of email interest but few buyers show up in person to look at the car, and some of those are young people with jobs but no credit who want to finance the car but need a co-signer on the loan due to age of the car. In fact when I bought my 2003 ZHP in 2010, my credit union refused to finance because it was >6 years old.

On the other hand, there was one AW on NB ZHP offered locally for like $10,500 that was gone in <2 days and another E46 325i I tried to ask about that was gone in 3 days.

[Tucci139]

Good advice - I may have to drop the price dramatically and chalk it up as a lesson learned. Someone is going to get a great deal on a ZHP real soon.

[KevinC]

Avoid Craigslist - I would neither buy nor sell a car there, apart from some full-on beatermobile. Use autotrader & cars.com. MUCH better results, far less sketchy shoppers & sellers.

[LivesNearCostco]

Ah but I want a track car that I can beat on. Ideally not already very beat-up, but it needs to be something I am willing to crash, or at least dent. On your advice, I did just scan AutoTrader in my area for E36 M3s with manual transmission within 300 miles. I would say they are on average in better shape and more expensive than the ones on Craigslist, but also most of them were down in Southern California, either at the edge of the range search or featured listings 350 miles away. They were also less modified, which can be good, but I would actually pay a little more for certain mods.

As a Craigslist buyer, I'm not sketchy in that I can pay cash, show up when I said I would, and am not taking anyone's car for a joyride. But sometimes I am a lowballer.

Edit: Searching AutoTrader for E46 sedans with MT near me, again I see a nicer but smaller selection than CL, but again most are in Southern California. It did turn up what looks to be a ZHP 6MT (TiAg on black) with only 51,000 miles at BMW of San Francisco.

[NoVAphotog]

I have been trying to sell my ZHP for about 1 month so its still early, but I have noticed a lot of folks selling "ZHPs" or "like-ZHP" on craigslist and other sites. Seems like ZHP doens't mean much anymore folks are buying non-ZHPs and modifying and saying its just as good - problem is we know its not. Anyone else see the problem?

Anyway, I may have to keep my car and drive it until it falls apart before selling for the same price of a standard 330i a few years older that someone on craigslist tried to convince me my car wasn't very special and its overpriced....

Oh well - I say to all the true ZHP owners - don't cave in to this market of tuners and low-ballers if you don't really need to sell. It's a shame, seems like the market from less then a year ago has really changed quite a bit. Anyone else notice this?

I would say a month is still too early to start worrying about it, the right buyer will come along. I never thought I was going to sell my SLED of a Mitsubishi Eclipse, but then one day a mom came along and bought it for her daughter (tells you something about the car). Same with my Speed3, except father/son. Took MONTHS. Plus the channels you have it on play a big role, while I sold those cars on CL, I did get a good amount of interest from Autotrader and Cars.com. I will also say there are a lot of variables that come into play with the sale of any used car. While I haven't been looking to buy or anything, in the case of ZHP's it is interesting to keep an eye on the classifieds and see which ones go and which ones take some time and note the differences. FL vs. NJ, high mileage w/ maintenance, high mileage w/o, etc.

I think your car is beautiful, and there is a strong market in NoVA/the DMV in general. Make sure to list it in the NoVA/Washington DC CL's in addition to the local MD ones!

The only con I would say are the 5 owners...might want to shift that detail around so it's not as highlighted...aka...not in the ad at all. Focus on the good things out of that number, "Clean title/No liens/all maintenance records and history available" If someone asks, tell them the history. You want to initiate conversations, not have people scan the ad and just keep right on moving because EVERY little detail both positive AND negative is up front. It's like dating...you want some mystery. :pimp

The right buyer will ask the right questions.

[Tucci139]

Good advice again - I am going to list in more craiglist locations and ad autotrader as well. As far as 5 owner, that can be explained, but only down to a 3-4 owner if you look at the dealer history. it seems carfax doesn't account for dealers who buy a car from someone and then list for sale - this counts as an owner.

I did scan cars.com and my car is high on there for now. I think I will drop price a little to get more interest and expand the network at the same time.

I see you autocross the car - SCCA or other? I also have a Rallycross car and race with my son. Orginally I was planning on autocrossing the ZHP, but decided after I bought it that it was too nice to modify. I may have to reconsider and mod it for autocrosss and PDX if I don't get my price and just have some fun!

[LivesNearCostco]

I would agree that CL buyers are more likely to be a PITA. I may even be one of those examples! But AutoTrader seems to have more dealer sales, CL has more private party. And at least last night the Autotrader web site was pretty slow.