Price Drop! Exceptional 1976 2002 For Sale

[CSteve]

Exceptional 1976 2002 for sale. A much loved and pampered 88,000 mile original that needs nothing and has everything. Don't be turned off by the automatic. Drive it as is or do a four or five speed swap without having to do anything to the already enlarged automatic transmission tunnel.

New Improved Price: $40,000 OBO

• 1976 BMW 2002
• Automatic
• 86,765 Original Miles
• VIN 2392325
• Manufactured 4/20/76 Delivered to Max 4/22/76
• Original Matching #s M10 Engine
• Original Color: Chamonix Code: 085
• Third Owner

View the full description, over 150 photos, and videos here: https://1976bmw2002.wixsite.com/bmw2002

 

[vince]

$52K!! Sorry Steve if this is yours but how does the seller justify asking that much for a 76 (count a sale in CA completely out) square, non sunroof, automatic, in a non descript color. Did the 5 and 2 get switched? It looks nice but $26 might still be a stretch. Sorry if I sound negative, but that's a 'I could get that on BaT' dreamer price.

 

[Eric V]

Wow Steve, you told me a little bit about this car in the past but I had no idea it was this nice. Some of us like the automatic transmission just fine and Chamonix fits the car well. Bumpers look great too. Someone with specific fond memories of their family’s old 2002 will fall in love with this one. CA DMV will be a deal breaker for those of us out here. Best wishes for a speedy sale to the right person!

 

[CSteve]

Vince, you say, "but that's a 'I could get that on Bat' dreamer price." So I went and looked at BaT auctions at the start of Covid, 1/2020. Here is what I found. And this list is not complete, as I ignored at least a another dozen cars that sold in the low $30s. Yes, most of them are four or five speeds, but at least half a dozen were the dreaded, unloved automatic.
Well, someone must love them.

Most were stock, a few were modified. Some had the big DOT bumpers, some had the lovely early chrome. Only two or three were in the same original, low-mileage, excellent condition as my '02. And some owners spent big bucks restoring their cars to "close to original."

I believe my car is "Exceptional" and these recent sale prices prove that. I chose $52002 because I like the look of that number. Like the first bids on many BaT 2002s are $2002.

Sale prices and date sale of 18 2002s:

'75 1/23 $48,250
'74 10/22 $33,000
'75 10/22 $62,000
'75 9/22 $46,251
'74 10/22 $35,000
'75 10/22 $33,500
'75 8/22 $30,750
75 7/22 $30,250
'76 8/22 $48,000
'75 12/21 $65,000
'75 10/21 $39,274
'76 7/21 $63,000
'74 7/21 $37,250
'75 5/21 $34,500
'74/ 4/21 $38,250
'74 12/20 $35,000
'74 11/20 $39,666
'75 9/20 $48,250

So perhaps a starting price of $52002 OBO is not as dreamy as it sounds to you. And of course following the '02 market for the last six months I never drempt I would get $52002. Come on, pal.

 

[Arde]

..and Chamonix fits the car well. Bumpers look great too. Someone with specific fond memories of their family’s old 2002 will fall in love with this one. CA DMV will be a deal breaker for those of us out here...

Wow, that is me on the plus and minus columns.

I have fond memories of my 1976 1502 in Chamonix.
I have bad memories of the E9 automatic transmission
I live in CA

So it all comes down to: but how does it drive?

 

[CSteve]

Arde, it drives and handles like a 2002 with Koni's, Sport Springs, and beefier sway bars. The automatics in the 2002s are nothing like the Bavaria and Coupe transmissions. The '02 automatics are tight shifting, tough, long-haul automatics. Add the engine mods I have added and it will keep right up with a 4 sp 2002. In the ad I note that the automatics have a larger transmission tunnel allowing for a four or five speed to be bolted in without any mods to the tunnel.

PS: We owned one coupe with automatic and one Bavaria with an automatic. In 1985? I coasted the automatic Bavaria into the Subaru dealer's lot and drove out in a FWD(yes FWD was available back then). I coasted in because the transmission was on its death bed. The coupe automatic was swapped out long before it could die.

And I have fond memories of the only New BMW I ever bought, a 1971 Atlantik 1600 that I took on a 12,000 mile summer-of-71 road trip across Canada, down the Coast Road and back through New Orleans. With many multi-mile side trips. Ah, "Sweet Bird of Youth" to quote Tennessee.

 

[boonies]

No doubt it is a big asking price, but it is a very nice car! I joined Steve for one of his Road Dog drives about a month ago while my coupe was in the shop and we spent a couple of hours of spirited driving in his 2002. They buyer of this car will get a fun ride that needs nothing.

 

[vince]

"Come on, pal" Ouch! Maybe I was a little harsh but I do think you need to look at some reality here. Not sure why you would put a number out there that's unattainable, because you like the sound of it?! I've had four 02s and restored two of those, I follow the market closely. My opinion, results on BaT shouldn't be your only reference point for pricing a car. Plus, I see a lot more cars on your list in the 30's than above. Your car is very nice, low mileage, and very low ownership but your car also has several detractors. Color: is very important with these cars, Chamonix is on lower end of desirability. It's a 76, for sure the least desirable year. Nothing special that stands out, like rare period correct wheels, sunroof, etc... And finally, it's an automatic. Three quarters of the fun of driving these cars is going through the gears. Add the pros and cons, and you have a middle of the road 2002. Of course, this is just my opinion - but I think it's valid. Here's link to my 1975 02 that I restored and sold on BaT. It was a square but it had everything that everyone wants in an 02. Just read trough the comments, even Delia Wolfe went on and on about how great it was. It broke a record for a non roundie in 2017 at $33K. You'll probably say that was six years ago but one could easily argue that the market isn't where was when the cars listed above sold.

Again, not trying start anything. More than anything, trying to help you sell it.

1975 BMW 2002 5-Speed

Bid for the chance to own a 1975 BMW 2002 5-Speed at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #6,155.

bringatrailer.com

 

[teahead]

I sold my 76 automatic on BAT awhile ago.

Fun car! Did a lot of tricks too (ST sway bars, Recaros, Volvo brakes). Had plans to put on turbo flares/airdam and 5-speed. Oh well.

Good luck! Fun car and next owner will love it!

 

[JMinPDX]

Well, Steve bought this 2002 from me about 3 1/2 years ago. I bought it, from the second owner, (overlooking big bumpers and AT) because it was one of the cleanest, unmolested 02’s I had ever seen. When Steve came calling looking for an automatic I was willing to sell. If it was a 4 speed I’d probably still own it. That said, Steve has improved on the car with, bumper swap, head rebuild and some other tweaks. It’s a beautiful car and should fetch a nice price for a 76 auto. Good Luck Steve!

BaT still has me scratching my head sometimes. Many cars exceed expectations but then a really nice euro 72 Baikal tii sold yesterday for $43k. I was shocked the reserve was that low.

https://bringatrailer.com/listing/1972-bmw-2002tii-93/

 

[HB Chris]

The market has softened a bit, it will bounce back eventually.

 

[tferrer]

There seem to be a few nice 02 Tii's a reg cars on the market right now. I was happy to get my (slightly reduced) number for my Touring but Tourings are another animal so not comparable IMHO.

Sellers can ask anything they want, it's up to "real" potential buyers to counter if they think the ask is to high. Seller shouldnt really be compelled to lower the ask unless they want to sell it quickly and/or they don't have anyone interested at their original number...

All my 2 cents

 

[dave v. in nc]

Squaretails need love, too...If I thought that I could've gotten $45K for my 76 Nevada, (shown; Campy lugs AND centers), I'd have bought your Touring.
Steve, I think the "needs nothing" is hugely appealing to many folks...I think you'll get close to fifty-two. Best of luck with the sale.

 

[CSteve]

A sincere thank you for all the comments, Vince, Eric, Arde, Boonies, John(JMinPDX who sold the car to me), HB Chris, tferrer and dave v. Here is where I was and now am. The price is a whimsical nod to the market, knowing full well I might get close. I am in no rush to sell, but I wish I could say in the words of Irma Thomas' great song, "Time is on My Side."
The Stones' cover is good but not great. But I am 81, and I do hear Andrew Marvell's words from his poem "To His Coy Mistress," " But I hear time's winged chariot at my back."

And I am realist enough to know, in the words of the Stones'(yes, again) classic "You Can't Always Get What You Want" to know that I probably won't.

The Agave '72 Bavaria that is the replacement for the '02 is already sitting in my garage thanks to Steve Petersen of BluntTech(it was his 90 year old Mom's car). And yes, it is automatic and air conditioned for the same reasons(I won't bore you) the '02 is. If Steve's Mom was still driving her Bavaria at 90 then I have reason to hope for the same.

Time to be quiet, thanks again everyone.

Steve

 

[dang]

I buy cars every day from private parties, and I also give them advice on how to sell it themselves when I know we can't make a deal. They always say, "I have no idea what it's worth", so I tell them to find some other comps if you can and put a price that's not too low, then as time goes by start lowering the price until the phone starts ringing. The variables in that formula change depending on the vehicle. A Camry or Corolla you'll know right away. A '70's BMW might take a while since it's a smaller market. Nothing wrong with starting at the higher end.

 

[vince]

Steve, I probably gave a little too much feedback on what you have it up for. Like others have said, nothing wrong with starting high - especially if you are not in a huge rush.

Good luck with the sale, it is a very clean example.

 

[Markos]

Steve, I probably gave a little too much feedback on what you have it up for. Like others have said, nothing wrong with starting high - especially if you are not in a huge rush.

Good luck with the sale, it is a very clean example.

When you sold your square tail in 2017, the second highest BaT coupe sale of the year was $70K. I say second highest because the highest went for double that and was a statistical anomaly.

 

[bluecoupe30!]

So difficult to price classic, vintage, really old cars and parts. Your '02 is awesome, and the right buyer(s) will agree with all that you have summarized about condition and presentation. They are out there. Being in no rush, again, makes a huge difference. Just wait for the right fit. In my case, I just listed a set of BBS RC090 locally. Asking the moon! Haha, well not really. But again, rare, old, and someone will really want these. If I am lucky, someone local will agree, and drive over and just pick up. But also, I am in no rush. Just waiting and observing. Good luck Steve, It will all settle out just fine.

 

[Arde]

Interesting. My E9 had the ZF 3HP22 and I did not know the older 3HP12 would be better than mine.
I assume a 5-speed conversion would transform the car on both extremes of the speed range.
Anyway, I will not opine on pricing. But owning a real desirable asset at this time I think is wise, so eventually I believe you will get your asking price.

 

[autokunst]

Hey Steve,
I just saw your "improved" price. Based on the BaT sales and related history, seems right on the market now for such a beauty. GLWS!