Flipping Z3’s

[ZEDonist UK]

Hi all

I’m curious to know if anyone is successfully making money restoring and flipping Z3’s and what the predicted confidence is like going forward.

Looking around the cheapest 6 cylinders are around the £2-£3k mark and reasonable condition vehicles are in the £3-£6k+ area but turnover at the higher price range seems slow.
People are asking £8k+ for the 3.0 but again they dont seem to be shifting.

In my mind, the majority of cars aren’t worth restoring financially. This is supported by the fact so many, especially the 1.9’s, get scrapped.
Most of the lower priced cars I’ve seen need (at the least) sills, full suspension, control arms, brake lines, power steering pipes, tank straps and general rust treatment (which is hugely time consuming).
Parts for that alone will be around £1k.

What do people think?


By the way:
….I’ve spent a small fortune on my Z3, time and finances don’t really come into it as it’s a long term keeper….

 

[Richardrix]

I've got my 1997 1.9 up for sale at the moment at £1995. Getting a lot of views on Autotrader, and I have it posted on zroadster too, but no interest so far. This car has had the sills done and a lot of other work on it during my ownership, a lot more that what the asking price suggests. This wasn't a car that I was intending to flip but I bought a 3.0 Z3 and don't have the room to keep the 1.9 so it has to go. Only worth spending the money on if you intend to keep them I think.

 

[SYMZ3]

Interesting question.

Unless it’s a car with enormous value, does anybody really make money on fixing up or restoring cars with lower values? It’s not just the parts, the real cost is in the time taken and many DIY restorers never get a return on that investment.

The other issue now is the surrounding environment with events around the world conspiring to attack the income & wealth of individuals. I have spent my professional life in corporate America (🫤) and in the last 17 years as a business owner and never have I seen so much fear and anxiety within my network. There are now so many issues affecting mankind that (IMO) people are waiting to see how things play out before making decisions around things like 2 seater sports cars. That is what is affecting the market for cars like ours, it’s (generally) a toy purchase, hence the slowdown.

I think Zeds are undervalued as a car, maybe it’s the past history of the earlier versions or certain TV presenters telling us all what we should and shouldn’t buy.

Thank goodness we have amazing enthusiast’s who love and know how to fix them…

 

[Richardrix]

I think the current financial situation, the politics, etc are all having an impact certainly. I hope that someone buys mine that wants to cherish and look after it, but also drive it. That's what it's about and where the enjoyment comes from, before these types of car will never be made again due to electric cars, etc.

 

[colb]

@ZEDonist UK hits the nail on the head with his observations on the current market place it all down to the buyers budget and reason for buying at the end of the day. I have noticed low mileage examples are pitched quite high far exceeding what I would expect for them to get. Condition and history will be a purchasers deciding factor unless they are happy to DIY everything thats needed.

 

[SYMZ3]

I think the current financial situation, the politics, etc are all having an impact certainly. I hope that someone buys mine that wants to cherish and look after it, but also drive it. That's what it's about and where the enjoyment comes from, before these types of car will never be made again due to electric cars, etc.

I hope you sell it to somebody who will appreciate it as you have

 

[GazHyde]

the majority of cars aren’t worth restoring financially

So as a bit of an expert in the Z3 restoration malarkey, pretty much this comment. However there are exceptions around people who become emotionally involved in their cars. There is then actually having the money to invest in a process that won't recoup any of the costs should the car ever need to be sold.

A full restoration of any Zed by anyone wanting to make a living from the process would likely be a fool hardy venture without some form of diversity in to other areas to support it. How far do you go in the restoration, the further you go the greater costs all in.

Most of the lower priced cars I’ve seen need (at the least) sills, full suspension, control arms, brake lines, power steering pipes, tank straps and general rust treatment (which is hugely time consuming).
Parts for that alone will be around £1k.

I'd say at the barest minimum, there is also an assumption that once you get in there that some of the parts are repairable - swing arms are starting rot through.

People may have noticed I'm rather in to my Zeds, but even I don't think they are going to hit big money - with the exception of some of the M Roadsters and pretty much most of the Coupes.

Just my humble opinion after 70+ restorations.

 

[Robert Hill]

You don't bye a z3 in the hope that you will make a profit people on this form are z3 enthusiastic owners
That look after there cars

 

[Ianmc]

Buy to use, not speculate. That said, the main cost with newer cars is depreciation; a well bought Z3 should hold its value.

 

[bombur]

Buy to use, not speculate. That said, the main cost with newer cars is depreciation; a well bought Z3 should hold its value.

My agreed value with insurance was about 1k more than I paid for it...ive spent more than that on it though lol. Deffo for love not profit.

 

[BuxtonZ3Guy]

Trying to flip a Z3 is not going to be a profitable proposition unless you buy the car for virtually nothing. I did buy my 3 litre as a potential investment that I could enjoy driving. Appreciation always trickles down the model range. The boat has sailed for the M and Coupe. The next one to have is the 3 litre. In my opinion if you pick the right car and look after it then you will see a return after a few years.

 

[BoxClever]

I'm certainly not in the market for flipping cars but I do like to chop and change a bit, and if i can minimise my losses then great... but any normal person thinking that your car costs plus parts cost plus a bit of your time costs equals the right money/return is always going to be disappointed.

As has been said above forums like these are for enthusiastic longer term owners who aren't so concerned with the financial equity in the car, which i think is the right way to view it. However I've always believed that you make your money on the way in and not the way out.

 

[MartinJ]

maybe its just the challenge and a passion project. Mine was bought as I've always wanted to restore a car. It was a purchase after my dad died, on wet Monday evening in winter.., just don't do that.. and I had some money to do something in his memory. I was going to buy a Z4 but the Z3 is a cheeky blighter and looks great. I've probably spent at least £700 and still can't drive mine .. see my recent post on dust covers posted to day. For me as a trained engineering: crafts person it is the love and challenge of over coming issues and finding solutions for problems and the hope of a opportunity to drive mine :hood down on a sunny Sunday afternoon with other who are in it for more than just the intrinsic financial value . the emotional value of achieving something and that feeling of success, however far off that feels for me at present is great for your mental health . Even though today what left of my hair has been almost been torn out. House for Courses I guess.

 

[MartinJ]

* horses for courses I guess..