GregBBRD

(Just information...I've got no stake in this....but this is interesting enough to take the time to tell you guys about!)

Just had a pretty interesting car through here....owned by a guy that bought it to flip.

White 1983 Euro....currently registered in California!!

The amazing part....it starts and runs great, the clutch is great, it apparently had an timing belt recently, it shifts and drives very nice.

Like any good early, lgihter weight Euro car....it is very fast.

The interior looks ok....it's a burgundy color....parts have been sprayed burgundy....I think it was originally black.

It needs paint....badly....and he's about to throw on a cheap one day paint job....but I told him to not paint it, so people can see the body in its current state.....which is pretty good. A bit of rust around the back window, some holes where a rear spoiler once was....looks like a bit of old repaired damage at the rear of the left rear 1/4 panel. No other body damage.

Has H4's. He has the original radio. It has the manhole covers for wheels.

Anyway, he wants 15K...and he's not too firm.

If you live in California and have been wanting to own a Euro....this looks like a pretty nice starting point, to me....especially since you don't have to start with a non running car that needs $7,500 worth of injection work and another $7,500 worth of clutch and other misc. work, just to be able to drive it.

To me, it's almost like getting the rest of the car for free, since it runs, shifts, and drives!

His name is Ernie. His cell is 310 308 9650.

SeanR

Sounds like a good starter project. Why hasn't Edwards jumped on it?

Rob Edwards

'Cause I haven't seen it yet.

docmirror

Wrong end of the flip for me. If he'll come down about $10k, I'll go get it. The $10k discount will almost cover normal paint and interior.

Ducman82

was it there yesterday?

GregBBRD

Yes, sitting out front.

It had the wrong fuel pump in it and would not start when warm....because the fuel pump would not run with under 10 volts (while cranking). Plus the pump would not generate enough system pressure.

It runs very well.

Cosmo Kramer

So this would be a CIS Euro correct?

GregBBRD

If he came down 10K, you'd have to declare it on your income tax as a gift....

I think everyone here knows that the Euro cars are going to go nuts in value.

Getting one that runs and drives is rare.

Geting one that is already registered in California is really rare.

GregBBRD

Correct.

docmirror

Whelp, I guess we will see what we will see. There's three Euros on CL right now for under $6k needing work. Guess I should grab all of them up if you are right. The very green one discussed ad-nauseum a few weeks back is still sitting there. All it needs is paint and inteior. Bet I could get him down to $5k with a little sweet talk.

I"m building a new garage, so when it's done I'm going to fill it with 928 Euros and just sit on them waiting, waiting, waiting, waiting for the big runup. Maybe I'll be alive when they double in price.

BC

Your threads are showing. I can *just* see your true colors behind the seam.

docmirror

TMI. I think you need to find one of those trans-gender bathrooms.

Wondering -- have I ever denied being a bottom feeding buyer?

GregBBRD

Unless one of these cars has just undergone a 100,000 restoration....they all need work (and unless someone really good did that $100,000 restoration,t probably needs work.) That is a given with a 40 year old vehicle.

My point of view is from someone that fixes these cars on a multiple, daily basis....it is simple to throw 10K at one of these things....in a couple of weeks....just to get it running.

BTW, you are too late....the price of Euro cars has already doubled....none of those cars on CL would have sold for $2,000, two years ago.

docmirror

I guess I'm going to need some help with the maths, cuz - maths is hard. Someone sells a tatty but running Euro for $6k(I have yet to see any fixer SALES go for higher). So, the start is $6k, and lets be conservative and they spend only $40k on materials and some specialized labor for a good restoration job. Not a 100 pointer, but decent job. He's now got $46k in a car, that at the best, at the very, very best will sell for $25k? Lets say he reels in some live fish and sells it for $30k. That sounds to me like a $16k loss. Now suppose he does put that $100k into a Euro 928. Is it still -- a Euro 928? So, he waits 8 years, and the prices does double. Now the selling price is up to $60k after 8 years of waiting. Seems like the guy is now out $40 large, and 8 years of lost opportunity on investment capital?

Do I have this right? Is my maths correct?

GregBBRD

Yes. I'm fairly certain your math will be.....your math.

My point was that the Euros on CL that you are talking about were $2000 cars two years ago. Now they are $6,000 cars. The market has already doubled....

If I told you, last year, that I was going to sell a 1986 928 for 52K, you would have thought I was crazy....yet one just did. Is that price double what it would have been 2 years ago?

Absolutely!

Im thinking that perhaps you should sell everything 928 now, before the price drops even more....