BMW M2 CS Auction: How much did those 20 cars sell for?
BMW recently auctioned its limited run of M2 CS (Clubsport) sports coupes in South Africa. Will this sort of sales method cause a surge in pricing and inspire other manufacturers to auction off their distinctive nameplates in a similar manner? Brent vd Schyff uncovers the details from behind the closed doors of the M2 CS auction.
These are odd times that we find ourselves in and, on the backend of a rather dreary history of inflated vehicle values in the South African car market, BMW recently made a bold statement by auctioning off the limited allocation of insanely desirable track-focused BMW M2 CS.
I, however, curb my enthusiasm, erring on the side of caution that this isn’t the best situation for the consumer. The auction effectively eliminates countless prospective buyers and reserves the cars for a select few with bigger wallets, who may care little about depreciation. Worse, it enables buyers who’re only interested in making buy-to-flip deals. If this is the future blueprint of how to sell rare models, I’m afraid that the biggest losers will be the brand loyalists, especially those shopping on a tight budget. They're going to be totally out-priced – and that doesn’t sit well with me.
About the pricing. Brace yourselves and be careful not to spill your coffee but, to add perspective to this conversation, the original M2 cost R841 000, the M2 Competition starts at R1 121 000 and the M2 CS was listed at R1.6 million – all in DCT guise. On the night of the auction, the reserve was set at R1.6 million, and a reliable source told me bids went up to R1.9 million, with the highest being R2.135 million! Ouch. To add insult to injury, there are still another 10 M2 CS units in containers on the sea waiting to land and their values are increasing as you read this.
BMW recently auctioned its limited run of M2 CS (Clubsport) sports coupes in South Africa. Will this sort of sales method cause a surge in pricing and inspire other manufacturers to auction off their distinctive nameplates in a similar manner? Brent vd Schyff uncovers the details from behind the...
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