SCM Analysis
Detailing
| Vehicle: | 2001 BMW Z8 Roadster |
| Years Produced: | 2000–03 |
| Number Produced: | 5,703 |
| Original List Price: | $128,000 |
| SCM Valuation: | $75,000–$105,000 |
| Tune Up Cost: | $400 |
| Distributor Caps: | $75 |
| Chassis Number Location: | Driver’s side dash at windshield |
| Engine Number Location: | Top of block, stamped between cylinder banks |
| Club Info: | BMW Car Club of America |
| Website: | http://www.bmwcca.org |
| Alternatives: | 1999–2004 Porsche 996 cabriolet, 2003 Mercedes-Benz SL55/SL65, 1997–2003 Ferrari 550/575 Maranello |
| Investment Grade: | C |
This car sold for $92,400, including buyer’s premium, at RM’s Cars of Fort Lauderdale auction, held February 6–8, 2009.
The RM description would have you believe that a Z8 with a two-tone interior, styled by the Fisker/Bangle duo, and having been featured in a Bond, movie would seem to matter to the car’s history. I have never run into a Z8 owner who thought any of those inane points was a reason to blow 100 large. People bought these roadsters because they considered them great cars to drive, beautiful open-air rides, and rare vehicles that weren’t seen on every corner. Fair enough. I might not like the Z8 any more than the current Rolls Phantom, but that doesn’t make either one a bad car, just bad for my garage. (Just an aside—there were 5,703 made, not the 1,500 claimed in the catalog.).
I personally think Chris Bangle’s whole “flame design” ruined BMW’s recent cars, though my view is obviously not shared by everyone. BMW seems to be just fine. And James Bond? Well the Z8 wasn’t the low point in 007’s rides—that was the Z3. The Z8 was brilliant corporate placement; that’s about it.
God is in the details, but not these details
I’ve written about Z8s in the past, and my overall feel for the car has not changed significantly. I’ve had the pleasure of driving them through the years and they’ve always left me cold. The interiors especially felt cheap, as did the plastic/chrome side vents. God is in the details, and these details haven’t been to church.
Being retrospective in this hobby can be amusing, argumentative, melancholy, or downright reaffirming of one’s previous beliefs. My retrospective thoughts are yawning at the Z8; same car, same ride, different story and year.
I was always a bit harsh on the Z8’s looks and the whole puffery about the reach back to the 507’s importance and all that pertained to BMW’s history. The 507 never raced, was too expensive, was considered a failure, and was at that time the wrong direction for BMW. If you accept my historic criticism for a moment, I will be balanced at the end here with a silver lining to those BMW owners (though I do prefer the M5).
It’s great that this particular car comes with an extended warranty, but did it have the original hard top, the hard top carrier, the original BMW Z8 book, the window sticker, and all the original keys? Because the Z8 is now a “modern collectible” (for lack of a better phrase), new buyers are very persnickety about the completeness of the equipment, and justifiably so.
Most of these cars are barely broken in
A Z8 buyer, much like any “modern collectible” buyer, wants the lowest-mileage, newest-year, best-equipped version. Perhaps a delivery-mileage-only 2003 Alpina edition in a tasteful color combination would be the top of the Z8 world. The car sold here is 95% of that in reality. Most of these cars are still barely broken in, and new buyers should know that these things are mechanically very robust. Any year Z8 that has been properly serviced and has not been pranged at speed can be a great driving experience.
In review of the marketplace over the last 36 months and before the dollar got stronger, a great many Z8s went abroad. A few dealers who specialize in these cars were having a grand old time packing them in containers and sending back to the Fatherland. There are fewer cars now in the U.S. pre-owned pool.
The car has a strong European appeal, and that helped it to retain much of its original value here in the U.S. Z8s have a strong enough following to make original owners look like boy geniuses with their money.
Comparatively, if you had purchased any of the cars I list in the “Alternatives,” your current residual is probably just 25%–40% of the original window sticker—and that’s if you’re lucky. Z8s still trade near their original asking price and certainly at 75% of that all day long.
To be fair, I’d rather have the Z8 than any of the other cars I mention. When the Z8 came out, it made me miss the M1, the 2002 and the 3.0 series. Now, with BMW’s current lineup, I miss the direction of the Z8.
Assuming the car in Florida was complete with all its goodies and there were no stories, the price was absolutely on the money. ♦
(Introductory description courtesy of RM Auctions.)