It always amazes me just how important it is to buyers of classic cars that they’re completely, 100 percent OEM. Even if an absolutely gorgeous classic is beautifully restored but features a handful of invisible mods that make it drive a bit better, it loses a surprising amount of value. Take this stunning 1980 BMW M1, which just sold on Bring-A-Trailer, for example.
The BMW M1 sold yesterday for $561,000. Objectively speaking, that’s a lot of money. That’s more than the cost of both my first condo and my current home combined, with enough left over to buy a Porsche 911. However, for a BMW M1, it’s actually a discounted price. BMW M1s typically go for seven figures, when they’re in good condition and completely OEM. But this specific car sold for about half that because it’s not 100-percent OEM.
Looking at the gorgeous Giugiaro-designed M1 and it’s impossible to tell that it’s had some work done. For instance, it was repainted (admittedly in the factory red) and some rust was removed. New windshield seals and various other body seals were also replaces, keeping it nice and water tight. It also got height-adjustable coilovers, a new twin-plate clutch, and an upgraded muffler. None of those mods are really visible but they improve the overall feel of the car. Hell, it even comes with a five-piece, custom-made Louis Vuitton luggage set.
All of its modifications were made to improve the drivability of the BMW M1. Now that it’s refreshed and every-so-slightly improved, you figure it’d go for more money. But because it’s not OEM, that’s not how it works. Maybe I’ll have to look for a modified E30 M3?
[Source: Bring-a-Trailer]
