My prediction for 2022 is that the "more money than brains" phenomenon will continue unabated. And for those of us in the opposite camp, the vehicle we've always wanted will continue to remain out if reach.
True dat. The cars that I've been pining for, and were almost in my range of affordable in 2019, have been pushed way out of reach since then. I'm not sure if they ever will be back either. I have a feeling the "new values" will be what future values are built on.
There are numerous people on BaT that don't believe many of the auctions actually go to fruition. Certain vehicles seem to be sold and then pop up elsewhere with the same seller. BaT is fun to look at and follow certain vehicles, but I can not stand the dbags who have to interject comments on an auto about how "my car is just like this one but it has a better stereo" or my favorite, the chump who has to comment on every ferrari that comes up with "when I bought my ferrari" - save it dude, nobody cares. Really, nobody.
I, too, bought an E39 on BAT. I, too, got caught up in the moment and paid over $23K for a low mileage 530i sport/manual. I failed to get a pre-purchase inspection, flew out to LA to get the car and was deeply disappointed. The dealer presented the car as pristine in the pictures and did not disclose any of the “wear and tear”, of which there was plenty! I appealed for help from BAT who honorably refunded the buyers fee (nearly $1200). I’ve since learned that there are dealers flipping cars that are worth far less than they are selling for. While I’m totally at fault for not having it checked out before bidding, the seller is responsible for mis-representing the car. I researched this dealer and see he has sold over $250K in the past two years, so he’s got to be making good money for BAT. BAT may appear to be setting the market prices (I see many references in Sports Car Market to prices paid). I estimate my car to be worth what the dealer paid for it...$6200. Let the bidder beware....
Shows it is worth to keep the emotions in check on what is arguably an emotional purchase. $50k is too much for me but so is $39k. I like the car and color but a high mileage BMW is good if you have lots of disposable income as you will need it.
I've been enjoying the site for a few years and even bought two cars there. The first one was local and I was able to inspect it; the second was bought sight unseen. I'm happy with both purchases. Although it can be argued that I paid a wee bit too much in both cases, I can safely say that the earlier purchase has easily been worth every penny; the second one is still proving itself to me.
Both events were private sales. Neither car was misrepresented in any way shape or form. I think this is an important point. I also think my experience is much more typical of BaT exchanges than the ones that go the other way. That said, the huge increase in the number of auctions does seem to have opened the door for less scrupulous dealers. One must keeps one's eyes and ears wide open.
I bought an e39 M5 on BaT Jan 2021 and got it for a very fair price, I guess I got lucky. Followed the sale of the green one - that was out of hand at $50k. E39 M5’s are very nice but I wouldn’t pay more than $25k or so for what is now a weekend toy.