My first Challenge Car - 1994 BMW 325ish

Hello everybody! Some of you may have seen the most recent project car added to the fleet- the 325ish.
This is my first Challenge car, and I am looking forward to getting the car ready for next year!
I'm adding this forum topic as a place for me to ask you guys for advice, Fair Market Value rulings, and more.
I hope you guys enjoy following along with the build!

Cool!

Looks like more than a little 325ish if what looks like an M3 badge on the front door means anything...

- Bill C

BillCuttitta said:

Cool!

Looks like more than a little 325ish if what looks like an M3 badge on the front door means anything...

- Bill C

It has M3 badges, but not the M3 front bumper. I admittedly know very little about BMW's, but I think the sedans in '94 didn't have an M3 option. I'll be interested to see if it's got any M3 parts on it besides the badges!

Fair Market Value Question:
When I bought the car, it had this giant carbon fiber wing on it.



I traded the wing to my buddy Grant, in exchange for $40 cash and a Thrustmaster TMX / Pedals / Stand.



It appears to be this type of wing, with custom endplates on it.
To record this for my budget recoup, how would you value it?

 

In reply to Austin Cannon :

General rule is you come to us with a value and see if we agree.  That said we don't need to value the wing at all.  We need to value the Thrustmaster TMX / Pedals.  I would suggest that you hit up eBay completed listings and see what they have sold for.  Once you establish that then you know what value you sold the wing for.

Thank you! So he traded me a Vevor racing wheel stand, a Thrustmaster TMX wheel, and the Thrustmaster T3PA Pro Pedal set (plus $40 cash).
I noted the cheapest eBay sold items; for the stand I found one for $45, $38 for the wheel, and $149 for the pedals.
If I combine those, and add in the $40 cash, would $200 sound like a fair value? The wheel has a screw missing (thus the zipties), which caused the A and B buttons to not work, but the paddle shifters and everything else works.

In reply to Austin Cannon :

Sorry for the slow response.  You'll need three comps per item but you have the process going right. The best thing is once you've done you numbers include the proof with your budget and you don't have to worry about us giving FMV approval. 

Edit - Wait don't short change yourself. Add the three items plus the cash and that value is what you sold the wing for. 

Stampie said:

In reply to Austin Cannon :

Sorry for the slow response.  You'll need three comps per item but you have the process going right. The best thing is once you've done you numbers include the proof with your budget and you don't have to worry about us giving FMV approval. 

Edit - Wait don't short change yourself. Add the three items plus the cash and that value is what you sold the wing for. 

Thanks!

Fair Market Value Question!

The 325ish was on a mismatched set of 15" wheels when I bought it (pictured below). I have since purchased a mismatched set of 17" OEM wheels that I plan to use for the Challenge. I plan to take the 15" wheels and "sell them to myself" to use as drift spares. Searching Facebook Marketplace I have found some OEM BMW wheels to try and compare to, but none are 15" or in mismatched pairs. For full transparency, I plan to sell the 15" wheels to myself for $100, but I have no problem selling them to anyone for $100 if someone wants them (because my garage has too much stuff in it right now lol).

Can I get some users to agree with that proposed fair market value? Or should I just keep searching for pairs for 15" wheels to compare for FMV?

In reply to Austin Cannon :

I'll agree to the $100 but again you are shorting yourself.  Look up Ebay sold listings for the different wheels and use them.

Stampie said:

In reply to Austin Cannon :

I'll agree to the $100 but again you are shorting yourself.  Look up Ebay sold listings for the different wheels and use them.

I looked on eBay and haven't found any of these wheels in recently sold. I listed them on Marketplace a week ago for $75 per pair, and haven't got a bite yet. I'd gladly sell the lot for $100, so I think it's a fair price. I actually got the 17's for $70.

In reply to Austin Cannon :

Do you have the style numbers for them?  Sorry not a BMW nerd like some.

Stampie said:

In reply to Austin Cannon :

Do you have the style numbers for them?  Sorry not a BMW nerd like some.

I'll have to look, I also am not a BMW guy at all. Or at least I wasn't, now I own these cool BMW shoes and don't use my blinkers anymore.

I'm good with the $100 FMV

glueguy (Forum Supporter) said:

I'm good with the $100 FMV

Awesome, we've got 2! Anyone else ok with the $100 FMV for the 15" wheels?

I agree $100

AngryCorvair (Forum Supporter) said:

I agree $100

Thanks!

In reply to Austin Cannon :

Be patient as this is the off season for this forum.  I'm sure others will come in to view your request.

I'm good with 100. 

That's generally what I pay my scrapper buddy for a matching set of aluminum 15-17 inch wheels to restore and flip, so mismatched core wheels are DEFINITELY 100 bucks to anyone. 

Generally in my area 15 inch aluminum core wheels are 20 in scrap value. 

And there's more than you wanted to know. 

In reply to Dusterbd13 :

Thanks!

BMW Style wheels

For future reference they look to be style 6 and style 17

I'm good with the $100 valuation too 

DjGreggieP said:

BMW Style wheels

For future reference they look to be style 6 and style 17

 

Thank you!

Indy - Guy said:

I'm good with the $100 valuation too 

Awesome, thanks!