E36 M3 values

["Henry H Kim" <henryhkim@xxxxxxxx>]

Is it just me or has anyone else noticed that values on these cars have
really come down in the last 6 months?  I recall looking '97s in the
spring
at $48,000CDN.  Now, I see them at $40,000.  Is this because of winter,
the
new M3 or is it just my imagination?

Henry:
    It's a fact that E36 values have dropped a lot in the past 6 to 12
months. This is probably in large part due to the arrival of the
superior E46 M3, directly and indirectly since E36 owners are probably
putting their cars up for sale to get into an E46 M3. Plus the fact that
the E36 M3s are aging. There have been hundreds of them auctioned on
eBay in the past few months, and over 90% of them do not meet the
reserve the seller has set, so they do not sell. If they sell, '95s are
selling for US$20K to $24K tops, '97s are selling in the  mid-$20s, and
only the most recent ones break $30K any more, and only if very good.
After all, why would anyone pay close to what the original owner paid
for a '98 M3 when he could get a much better E46 M3 for not much
more--providing he got in the wait-line at his dealer in time. Actually,
# 1 or 2 wait-line spots for the new M3 have actually sold on eBay
recently for $10K to $15K--just for the spot, not the car.
   Canadian prices are dropping also--I saw the dealer ad you cited for
a '97 at CND$40K in the Globe & Mail, but Canadian dealer's prices have
always been too high. An off-lease '98 failed to sell a few months ago
after being advertised for under CDN$40K.

Peter Cain
London, Ontario

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