This seems like a win win! We like BMWs and we like cabriolets. With this find we get both in one car! It is reported that the German coachbuilder Baur produced just 1,682 cabriolets on the 1602 BMW chassis. This one is parked in Larchmont, New York and was photographed before the last snow storm. You can find this 1969 BMW 1602 here on craigslist for $28.5K.
The seller says this car can be driven but does need a tune up. It appears that a new OEM radiator has been installed, so hopefully that means all the major work has already been done.
We are told that the dash is not cracked which is good for a 1969 BMW 1602. The interior looks fairly clean, the top is said to be “prefect” without any rips or stains and without any fog in the rear window. The rear window does appear, in one of the other images, to be stained or it could just be dirty.
The seller says there is rust on the body. There are 24 images with the ad showing some of areas of rust.
The seller has too many projects on-going and doesn’t have time to continue working on this 1602. This car was listed for $36.5K in May of 2015, so is the new lowered asking of $28.5K the right price? At least one restored BMW 2002 cabriolet has sold for over $60K. This isn’t a 2002 and it isn’t restored, so the next buyer will have to be willing to pay to play. So what would you be willing to spend on a rare drop top BMW?
Motor-on,
Robert
I’ve never seen one of these. Very cool and I bet very rare.
Steve there’s a yellow on in a Katy Perry Video. I really wanted one of them until I started pricing them.
Those radiators are crazy expensive. Over 500.00 if I recall correctly.
http://www.wallothnesch.com/wasserkuehler-1502-2002ti-11-31-14.html
He mentioned that in the write up, with a price drop to boot. 5K car at best for me. Rare or not. I am sure there is a dodo out there that is willing to pay way more than it is worth.
I recall seeing this car a year or so ago. Did it not sell back then? Is this the same seller? If it’s the same car and seller, then perhaps the rarity of this model doesn’t quite ignite the interest of the BMW New Class crowd. Or maybe the price is lofty, given that an excellent 2002 can be had for about half the price. Just saying..
It would be nice if it was a $5k car! I know these are rare and values are high. Im curious where the price it sells will be. Didnt some company do a version like a targa? I seem to remember one I saw many years ago. This would be a head turner for sure and it looks like a solid example. Any readers have a real world number for what this car is worth? I cant remember seeing one for sale
Just the end buyer. An auction would settle the mystery. Baur did a bunch of cool stuff to BMW’s in the 80’s, if my memory serves me. They just picked the wrong car for this one. Lipstick on a pig comes to mind.
@ Mountain Man: Baur did the “Targas} for BMW you are refering to. Here is the link:
http://baurspotting.blogspot.com/
Agree the asking is far too high. The comparo car referenced in this ad is a perfectly restored BMW 2002 cabrio that was sold by a very high end auction house at Amelia Island, probably second only to Monterey for high roller car buyers on this continent. And the ad isn’t even on Ebay…. it’s on CL. No hope.
As rare as these are they just don’t have the following that lots of other ’60s cars have, or even the following among BMW fans that the 2002 series has. I really like, and own, BMWs but this 1602 doesn’t get me excited. It might run now with its new radiator, but it will need everything to even begin to be comparable to the Gooding auction car, and an ‘everything’ resto will likely cost the price of a nice BMW 2002 cabriolet, so why not just buy a nice 2002 cabrio and be done with it? And after it’s restored this car will still be a 1602 cabrio, not a 2002 cabrio.
I can’t say that I am impressed by the seller’s approach, either. I think time will go by, it won’t sell, and the price will be revised downward……again.
Haven’t we all been seeing this lately? Sellers who see or hear of the end value of a well restored example and feel that unrestored their car is worth 80% of the same value? Just yesterday we saw a Cadillac advertised for just over $15k where the seller proclaimed:
“Once restored this vehicle should be worth $40,000.00 (or more).”
Sure, after a $50,000.00 restoration and your $15k purchase price it may be worth $40,000.00. It would be super if most sellers would realise that the market determines the value of a car based on its condition and that unrestored examples don’t have an added value simply because restored examples bring a healthy price. Until that time we’ll continue to see the same cars listed and re-listed over and over again until they arrive at a proper value or the car ends up at the crusher.
Don’t misunderstand me, though. The Baur conversions were very well executed on what is still a beautiful car to me, and even in this condition I’d love to own this car. I’ve seen the comments of $5k and – seriously – $5k barely buys you a 318 project or an E30 parts car today. The seller’s price is too high for what it is, but the car is a solid $8k purchase.
I think your sentiment that restored value should not increase the value of unrestored is entirely accurate… as long as your ‘restored value’ is in the sub-$100K range. I think this logic falls out the window when a restored vehicle is worth more than $100K, which are obviously few and far between.
Agreed, but there are many Ferrari’s available right now needing full restoration with an ask of $250k+. Yes, the end value may exceed (7) figures but the cost to get you there is in the high (6) figures. It’s entirely relative, and it’s sad to me that either:
1. Cars are traded as a commodity, whether actually restored or having the potential to be restored, which is how a lot of the Ferrari’s and Porsche’s are trading today.
2. Cars are quickly restored using dubious methods to capitalise on the market and to dupe unsuspecting buyers. It’s become worse since the spate of “Reality TV” shows have appeared and made it seem like cars can be of concourse quality in just a few weeks without showing the shortcuts or the actual costs – the TV networks subsidise much of the work to be done, making it practical to restore some rotted out Camaro or Mustang.
3. The auctions are now televised and have become a major spectator sport. Occasional watchers aren’t aware that provenance and build quality affect values, so they assume that since they saw a B.J. or Mecum auction where a (1) of (35) Boss Mustang sold for $78k that now the rusted out ’69 6-cylinder Mustang in his backyard is suddenly worth $25k.
There’s little perspective in this hobby today and it all has cumulatively made it much harder for sincere collectors with limited budgets to be able to afford a reasonable starting point for an at-home project. It’s now big bucks to buy a basket case which will require a great deal of professional work prior to the “easier” work which may be done in one’s own garage.
I totally agree with you Mike the car hobby has become a rich man sport. Years ago a lot of people got going on an older car out of necessity. Now those days are gone.
Seller’s statement that car needs a tune up is usually Craigslistspeak for “engine thoroughly worn out.” So now is probably the time for a significant upgrade. By today’s standards a 1602 is really slow.
I have a story on my blog about a similar car, a 2002 Baur edition, the blog post title is, “Rare does not always mean $$$.”
These cars are cool, rare, and probably a lot of fun, but not worth much. So it would be cool to find one, drive one, don’t pay alot for it.
Here is a link to the blog:
https://unobtaniuminc.wordpress.com/2009/03/31/rare-does-not-always-mean/
http://www.nadaguides.com/Classic-Cars/1969/BMW/1600/2-Door-Convertible/Values
$20,000 car all day