Now I've really done it... The mess4 has a sister who isn't so messy!

artikulieren · 08-02-2008, 04:40 PM

Well after I posted my question about outer quarters yesterday I slept a couple hours and did something severely rash, I went up to check out the '87 S4 I had mentioned. Boy was I in for an interesting surprise...

It turned out to be a time capsule of a 2-owner automatic early '87 (build date 10/86 with flip-up spoiler, 1/87 deliv date) with 83k genuine miles with extrensive records including original window sticker, dealer invoice (the first owner traded in his '82 928 to buy it, got somewhere to the tune of $22k at the time for his 82!!!), etc. This car was a low opted car and ONLY came to about $61k when new). The records were so thorough that there was even a page tore out of the newspaper in '87 for the car phone the orig owner chose (still present save headset best install I've ever seen, no damage to dash/console at all, just some holes through the carpet for the baseplate and the antenna was mounted on a trick stainless plate that is hidden in the hatch seal.

The car is red with black perforated leather (!!!). The interior needs a vacuum and condition but check this out... The seats are all VERY good if not excellent (just the slight color wear on drivers bolster, will redye beautifully)! The door panels are excellent including armrests, the dash has some slight cracking by the def. vents but isn't warped, pod is perfect. Even the center armrest is perfect and the car has the orig Blaupunkt cassette player (works great!). The carpet is dusty but very good, everything seems to work! The original tool kit, compressor, spare, etc are all present and tidy (even orig touch-up paint) and the body is as straight as an arrow and very clean, although the paint is oxidized (I think it should buff up good- suggestions appreciated with that!) The right rear quarter was repainted in '89 and it oxidized less but the color is identical. The motor doesn't seem to be leaking anything, sounds tight and has good oil pressure but has old oil and gas in it. The car has been in storage for 2 years so I consider it RIPE for TB service even though I'm aware the belt has been changed once before.

I made sure to reflect that in my insanely low offer, which was accepted after quite a bit of consideration so I sprung for it and used AAA to tow her the 90 some miles home! Just got home and wanted to exclaim my elation for what I hope was a great find, opinions (as always) welcomed!

Danglerb · 08-02-2008, 06:14 PM

Nice choice. Thats the trouble with insanely low, but real cash offers, sometimes they get accepted.

N2O-SHARK · 08-02-2008, 07:03 PM

Very nice!! Prices keep going down. Seen a couple S4's with BIN price of $6K on ebay lately. When I got my 1st shark I couldn't touch a high miliage S4 for under $10-12K.

Freshen up that paint and you have a winner!

lizard928s · 08-02-2008, 07:20 PM

so what did you pay? Have a detailer do a claybar treatment on the paint.

artikulieren · 08-02-2008, 07:35 PM

I was waiting for someone to just come out and ask what I paid... I considered keeping it a secret but I don't think I'll be selling it anytime soon so here's the story.

I'm by no means an expert like Todd with pricing (see GTS thread) but I would say with absolute confidence that nobody should use the price I got this car for as reference when selling off their car. The situation was 'unique' with this car (a messy divorce was involved) and the owner just wanted it out of her site. I showed up with cash and the means to get the car out of there quickly (god bless AAA). I paid (cough) $2500. flat, the tow was just under 100mi so it was covered completely by AAA. Dreams really do come true?

N2O-SHARK · 08-02-2008, 07:37 PM

I officially hate you now.

artikulieren · 08-02-2008, 07:44 PM

I know I got super lucky here, but I really wasn't in the market for another car! I've had a rough year so far (catastrophe at my business, neverending remodel, etc) so I think I deserved a taste of freakishly good luck. Now the question is what to do with the mess4 (my sad '88)? I've already decided to sell off my antique Land Rover. I currently pay almost $600/mo to park my cars and 2 of them are still stored for free on vacant family property! So I guess with this car I don't need to fret about paying too much for something. One of the most amusing things in the service history is a copy of a letter the original owner wrote in the late 80's berating the Porsche dealership for gouging on oil changes in which he says something on the lines of "its no wonder people don't buy Porsches in the united states when an oil change runs $157. From now on I will be performing this service at quick lubes."

Danglerb · 08-02-2008, 09:11 PM

My guess is that about 2/3 of 928 are sold for prices on the same scale you paid, but the only price we usually see is what the flipper sells it for on ebay etc. Most normal non internet forum attending owners have crazy ideas of what the value is, some crazy high, and some crazy low, and the first saavy person that finds the crazy low ones grab it and flip.

Danglerb · 08-03-2008, 09:22 AM

People don't appreciate how small the market for a 928 is, and that asking prices are VERY often just that asking and not selling prices. Firm prices in a soft market and its easy to get behind the curve, firm at $36k when it might have sold for $32k, then firm at $32k when it might sell for $28k.

Seems to me that many of the top dollar selling cars have been lucky enough to find a single buyer willing to pay their price, which might be thousands more than the second place bid. Thats not a market price, its a singular event between two people with little bearing on other transactions.

N2O-SHARK · 08-03-2008, 09:59 AM

I am in the process of moving next month. The new house has a 3 car garage plus a covered patio behind with room for a couple more cars. I plan on getting a couple running "Donor" cars to keep my habit cheap. Honestly it's much cheaper to just buy a $3K shark to part out than to buy stuff piece by piece. With my duaghter and I both driving sharks, I think it may be a smart investment.

Just need to sniff out a deal like yours on a S4!!

artikulieren · 08-03-2008, 10:51 AM

John, in regards to your reply I wouldn't necessarily say that people are cheering on lower prices/falling value for these cars. I certainly had no intention of undermining the perceived value of a nice 928. I revealed the low price I got because I thought it would make people smile to know that once and a while you can get a spectacular deal on a good car. A nice example should absolutely be sold for what it is respectively worth, all things considered. If I were in the market to buy a plug & play top-tier 928 there is only one place I would go and that would be Todd (Low Miler). I think he has turned the science of rehabbing sharks into an artform and his cars look and are truly exquisite.

My car wasn't worth a high retail price as it has sat for years and the average buyer probably couldn't deal with what it needs. It desperately needs to be clay barred, polished, detailed as well as new tires, TB/cooling system service, trans service, brake fluid flushed, probably brake pads/rotors, etc... But the bones of the project are truly excellent and it is a great starting place to start putting together a nice example. I'm honestly giddy to start painstakingly putting her back into tip-top shape. It has been years since I've been so excited to start a project.

I've been buying project/hobby cars since I was 13 years old, and for many of those years I worked on a shoe-string or non-existent budget (it is my hobby, not profession), but I've always kept myself entertained. Once and a while though I find deals that are just ridiculous (thinking back on a mostly complete race-prepped Shelby Cobra kit car I bought literally out of a barn several years ago for $1000). I even would go as far as saying that I'm a bit of an addict for the car hunting and buying experience. As far as what you said about hand wringing etc when it is time to sell I agree with Todd and that a car should be sold for a fair representation of its actual value (based on widespread statistics, history, CONDITION, etc). Should I ever sell my red car I will ask what it is respectively worth, nothing more, nothing less. All weak points and strong points will be accounted for in the price. I'll have put a lot of time and money into it by that point. If people want to get riled up about cheap cars being flipped for high prices lets just take a look at any car dealership's used car inventory, can we say raking trade in customers over the coals and the auctions?

Landseer · 04:33 PM

Nice work.

The lower the better. Tired of the dealers / resellers extracting these cars. Best an enthusiast does it directly. My last 32V purchase was for significantly less than yours and it just turned 70K mi. It was headed to a charity for immediate turnover to slick resellers.

Was sitting at lunch the other day at work. One of the managers was recounting giving away his older BMW convertible. A lady at the table was writing down the phone number of the tow company, because a friend had a pair of 80's Mercedes sedans that she was tired of.