Market Watch: BMW 2002 price surge

Price bulletin, 17 November 2021.

Classic Cars magazine

by Phil Bell |

The BMW 2002 joins our top 10 Price Guide Movers On The Up. It is, what Top Of The Pops pre-senters used to call, a climber with a bullet. But it’s not the Eighties anymore, so I won’t. And the latest prices show how far we’ve come from the decade of geometric-pattern jumpers tucked into snow-wash denim jeans.

That athletic jump has taken prices for rough project cars to £2.4k, tidy, usable examples to £5k and fault-free examples now typically make £11k. Seeking concours perfection? Budget around £16k. Those figures represent a 16% move, the seventh largest of our 54 movers this month, which range from 4% to an epic 90%.

Although the 1500 Neue Klasse saloon was the model that redefined BMW back in 1961 with its lean Michelotti-styled lines, smooth-revving engines and wieldy handling, it was that model’s evo-lution into the ’02 series in 1966 and particularly the powerful 2002 that made the world really sit up and notice. Here was a car with a giant-killing blend of performance, handling and compact di-mensions that buyers found irresistible. Like most rivals of the time however, BMW had yet to mas-ter the art of rustproofing, so devastating corrosion killed off many, or encouraged owners into cheap and not too cheerful bodges to hold them together. Now it makes sense to pay a premium for one that doesn’t need a structural rebuild, unless you’re getting a MIG welder for Christmas and enjoy learning new skills.

Half of the top ten climbers this month are saloons, but that proportion drops to a third when you look at the full list of climbers. Comparing mint condition prices by price band, 80% are under £50k, 57% under £20k and 41% under £10k. As we’ve become used to, most of the action is skewed towards the more affordable end of the market, though selected models in the six-figure bracket are picking up as well.

Price Guide Movers On The Up is part of 16 regular pages of market tips, analysis and buying advice in the latest issue of Classic Cars.

Just so you know, whilst we may receive a commission or other compensation from the links on this website, we never allow this to influence product selections - read why you should trust us