Hagerty's review of the E9

recently in a discussion of value (off-line) with one of the members, we were guessing that the market for CSL was down about 20%. in looking at this Hagerty article, the approximate values of condition 2 vehicles is down as follows: one quick note, there is no differentiation of carb CSL vs 2275 CSL ... and most of us would tend to believe there is a difference.

Bat 1 + 2 - down 20%
CSL - down 30%
CSi - down 10%
3.0 cs - down 19%
2800cs - down 22%
 
BMW's E9 platform is nevertheless without its issues.

I think they meant a double negative...

Anyway, is this ~20% drop a year-to-year stat?
We may be phasing the biblical effect of a "generation that did not know Joseph"... if that is the case there is no bottom, sadly.

NB: The phrase "a generation that did not know Joseph" refers to the situation in Exodus 1:8, where a new Pharaoh came to power in Egypt who was not familiar with Joseph's contributions to the nation
 
no the 20% drop was high market to now. for the bats, that is 2024. for the CSL, that is 2023 to now. the CSi is 2024 to now and the 3.0cs / 2800cs is 2023 to now.
 
Ah, that is ok. It is natural that the market is not peaking every day, I thought we had a secular 20% drop per year on top a dollar that itself depreciates... The sky is not falling, enjoy the week-end!
 
In my slightly more than causal observation I would say other than a few "hot cars of the moment" The market is down by those percentages pretty much across the board.

Some exceptions and some others that are getting battered. I would not want to be a Ferrari owner these days.
 
probably a good time to buy though ... presumably the market will remain quasi-stable. i tend to believe that it all jumped up a bit too much a few years ago and with the market influences, we are seeing a correction. the best quality cars will always remain near the top of the market, as they are the best examples - i'm thinking the very best carb CSL or bats from an e9 perspective. just like the best 911 RS or turbos, the great vintage Ferrari. perhaps cars that have had their 'moment', like the different iterations of the 308, the mondial or testarossa might not rise back up nearly as much. will things like the e30 m3 or e28 m5 see lower values? not sure, they are desirable / great examples of the marque ... just like the CSL. we all like to believe that our hobby is an 'investment' ... perhaps. if you are buying 'prize' cars, i think so ... the majority of the rest should show modest growth to allow some recoup of the investment / maintenance ... recovering costs of full restoration remains a good question.
 
I see two things in the data. First, in the early 2010s the car world woke up to what we already knew - that e9s are beautiful and functional and great fun. There began an upward trend in value that continues to this day.

The second thing I see in the data is a distinct bump around the time Covid hit. I have a friend who is in the guitar business and they saw a huge jump in sales during Covid (and sales are now coming back to earth). I think a good deal of the stimulus money that was pumped into our economy went to luxury items, including classic cars. If you take out the Covid bump, our cars are about where they should be based on trends for the past 15 years.

I have several friends locally who bought the muscle cars of their dreams. They still evoke fond memories, but unless you are into drag racing from stop light to stop light, the driving experience leaves a lot to be desired. Most of these guys can't get their wives into their cars, which drastically cuts back on their usage. I think they are not going to hold up once the people who connect them with fond memories of their youth reach the end of the road.

Our cars remain enjoyable to drive. This fact, coupled with timeless beauty, leads me to believe our cars will hold up pretty well.
 
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