That’s bananas, that price!
I think as long as the chip shortage (slowing down new car availability) exists then the increased demand for used is going to keep prices high. BUT surely said chip shortage is only affecting nearly new cars? If your brand new Hyundai is taking too long, you’re not going to buy a 9 year old M3 instead.
So although the chip shortage is a big factor, I think it’s equally more linked to inflation and house prices. I also think that with jump in price for new performance cars like the G80 etc that older motors in this segment are commanding a premium. Good examples seem to be getting snapped up quickly with the dogs lingering a fair bit.
Although many are saying it’s a bubble, in my opinion it’s not going to burst any time soon. House prices are a good barometer and they don’t seem to be dropping any time soon.
Going back to that M3, even in todays market, that car simply isn’t worth what they’re asking. They might be taking a pint due to the low mileage and condition (I notice there’s no mention of the number of owners) to appeal to an enthusiast or collector looking for a good example but I’ll be interested to see how long they have it for. It’s up for sale since the 2nd of Feb so let’s see how does.