Market Update: Cheap Neue Klasse Edition BMW 2002

There is an old Chippewa Native American legend about  how when the earth was formed there was a giant split in the ground with man on one side and all the animals on the other.  All
the animals shook in fear as the split widened, but only the dog dared
to leap the chasm and join the side of man, forever to be his best
friend.  Classic cars also make a leap, from cheap sum-of-their-parts prices (think Volvo Amazon) to the other side where zealous “collectors” under the lights of a Barrett-Jackson auction spend their 401ks to get some piece of their youth back.  Cars like the 911, big block C2 Vette or fastback Mustang have made the leap, from depreciated junk to appreciating classic.  The money to be made isn’t in the cars that have already made the leap, even basket case examples are offered for prices where the people who left them to rot want you to pay for the privilege of restoration…nobody wants that. What we do want is cheap motoring with a touch of vintage cool for less than $5k.

It’s cars that have recently made the jump where cheaper versions
are still around it makes financial sense to do a restoration,
drive for a few years and sell once the market has settled at a new 401k
fortified level.  A great example of that today is the BMW New Class,
better known as the BMW 1500/1600/2000/2002 where clean original or
restored examples are hitting the auction sites at CRACK PIPE prices
near $30k.  Somebody thinks they are worth it…which is all it takes
to get movement in a market.  Not everyone needs to agree that something
is worth more, only the couple percent who are selling and buying, so
today DT will show a few cheap ways to get into the BMW New Class
without dipping into your kid’s college fund.

Up first is this 1974 BMW 2002 4-speed with dive-plane sized bumpers offered for $6,400 via craigslist in Sacramento, CA.  This 2002 is really one of the best we could find and has a very nice paint job and is offered as running/driving great with only a needed steering box rebuilt in the near future.  Looks good and seems like a great deal compared to some of the overpriced ebay queens out there.

Next is this 1976 BMW 2002 race-car offered for $5,000 in Stanardsville, NC via craigslist.  The seller claims he has $6k alone into a 165 horsepower race motor and the car is equipped will all sorts of brake/suspension and peformance goodies, including a 5-speed BMW racing gearbox.  Big wing, minilites, small price-tag…what’s not to like?

On the cheaper side is this 1976 BMW 2002 offered for $3,500 via craigslist in SF Bay area (tip from Kaibeezy).  This 2002 is numbers matching, has a decent looking paint job and rides on cool basketweave gold BBS wheels.  It does need a battery and fuel to start…but if it does start the asking price is very nice.

Another race car in the Stanardsville, NC area is this 1966 BMW 2002 offered for $5,000 via craigslist.  This 2002 has a worked over engine, a full race suspension setup (Koni adjustable shocks, coil-over suspension) and rides on minilite wheels.  Could be a few weekends of wrenching away from a Solo2 event.  Or it could drain your pocket book, energy, free time and soul like dating a Kardashian.

Up next is another green 1976 BMW 2002, offered for$3,750 buy-it-now on ebay, located in Everett, WA.  This is a good running/driving 2002 that needs a new interior, but it isn’t a bad price at all.

If you’ve got a good line on a body man and want to get into a roundie for cheap, this 1972 BMW 2002 currently bidding for $1,526 with 3 day isn’t a bad deal.  The car needs some paint/body work, but it is mostly complete and a 4-speed small bumper car for almost nothing.

Here is a 1975 BMW 2002 automatic that is advertised as mostly original but needs some TLC for $3,500 in Hagerstown, MD.  The automatic could be pretty horrible to drive regularly, but a 5-speed from an e21 or e30 are cheap and plentiful.

This stanced and cosmetically challenged 1972 BMW 2002 roundie is offered for $4,000 in Hillside, NJ as a reliable, but ugly example.  It does have plenty of needs, but the early 2002s are more collectable and demand a higher price once restored.

Here is another 1975 BMW 2002, this one offered in a nice blue shade, listed on craigslist in Bainbridge Island, WA for $5,900.  This is a 4-speed car offered in good driver condition, it isn’t a show car, but it’ll be great for a fair weather commuter or weekend fun car.

This burgundy 1973 BMW 2002 with original paint and A/C is offered for $4,700 via craigslist in Riverside, CA.  Original faded paint is much prefered to a cheap respray or again expensive repaint.  Nothing adheres like factory paint and the single stage laquer paints used back in the day can be buffed to a shine as long as they haven’t already been shaved too thin by previous owners.

If you are cool enough to drive an orange car, this 1974 BMW 2002 is offered for $5,900 in Oakland, CA via craigslist.  It is equipped with a 4-speed manual gearbox, looks great from the outside, but needs some interior reconditioning.

Here is a 1971 BMW 2002 roundie complete with 2002Tii fuel injected engine, brakes and suspension, plus a 5-speed from a 320i offered for $2,250 in Gainsville, FL via craigslist.  This one needs some work, but the Tii engine in working condition is probably worth the price of admission and once complete, the ride should be fun!

Last one is this 1974 BMW 2002 painted in Inka Orange and equipped with a 4-speed manual gearbox, is offered for $3,950 and located in San Rafeal, CA via craigslist.  This car still retains most of its original paint, but is missing a few trim pieces and could use some light mechanical attention.  It probably represents one of the better investment vs value ratios and will make a great driver before, during and after some minor restoration.

Convinced now that you don’t need to spend $30k on a 2002Tii to get a good vintage driver?  See a 2002 that we missed?