BMW 740iL Flip for Profit e38
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- Опубликовано: 30 сен 2024
- 0- How much will this 2001 740iL sell for?
- Will it be the highest priced E38 Sold on Cars and Bids?
- Auction is Live, October 4th! (This Auction already happened, check out this video series where I reveal the sold price and my profit)
Check out Jamie's Store!: ourwearhouse.c...
Check out Cars and Bids carsandbids.com
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Links mentioned:
--- First video of 740 IL repairs: • Can I Sell for a Profi...
--- All videos of the e38: • All BMW 740iL e38 Videos
--- Amazing Details from Sage Auto Studios: www.instagram....
--- Awesome Car Photography from Alec Paris: www.instagram....
--- Navigation LCD Display from: www.germanaudi...
Timeline:
00:01- Recap
00:45 - My decision on struts
01:43 - Strut replacement
02:46 - Alignment
03:47 Nav LCD fix
04:06 Repairs not on film
04:45 Trunk dents
05:17 Detail
05:35 Test Drive
07:50 Problem while test driving
09:16 Diagnosis of problem
09:52 Behind the scenes photoshoot
10:16 Cost breakdown
11:50 How much will it sell for?
11:31 Total Profit
12:41 My total time spent fixing this car
13:08 How much to pay a shop for same work
13:33 Wrap up with final car shots
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Jamie is the Owner of Elite Motor Works in Sarasota Florida, Check out his social media in the links below:
-- TikTok: / jamiesgarage
-- Jamie’s Garage Instagram: / jamiesgarage1
Check out Jamie’s Shop Elite Motor Works
-- Elite Motor Works Website: www.elitemotor...
-- Elite Motor Works Instagram: / elitemotorworksfl
-- Elite Motor Works Facebook: / benzandbmwrepair
-- Elite Motor Works RUclips Channel: / benzandbmwrepair
So... basically ... unless you have a way to get parts at a slight discount, and can do most, or all of the labor yourself, this project would only break even. Makes sense I suppose. That's why anyone in a trade would be well advised to figure out a project like this, where they can utilize their knowledge and labor to make a profit. Thanks for the videos Jamie. Hope you get your price or higher. Thanks to covid, used cars are selling for more, so here's hoping!
That’s what a lot of shops are doing now. Buying desirable cars with serious problems and fixing it back to original for cheap. Rinse and repeat if you got a few of these projects going at once you can make a pretty decent chunk of change.
That's what honest dealers or shops do to make money. The other one just try to hide the issues and ask a higher price or wait for ignorants to sell them cars way under the market value.
Your forgetting the tools as well.
He could save a lot of money by waiting to find a parts car and not using entirely OEM parts. He's on a time crunch and also 740iL isn't the most sought after trim level. That would be 750iL especially with certain options or 2001 740i M-sport. Silver/grey are also the least wanted color combos. He had a lot working against him in terms of price.
Imao
Jamie, it looks like you were right on the money... great work and congrats!
In case you are interested, this sold for $25250 ; )
Appreciate the update for those who've just seen the video like me!
Thank you good sir.
preciate it
How much did he buy it for
@@socommaster did you watch any of the video? 😆
It's too bad there aren't more mechanics like this.
Yo. How goes it?
I mean there's alot of mechanics like this they just don't have a youtube to post it
@@drivingdream651 completely agree no disrespect to this content creator but you can tell he's got full control over thousands of dollars of tools, most mechanics that do good honest work with quality repairs are stuck in the parado principle, where they have to do 80 percent of the work and only receive 20% compensation,
He's damn good....
People totally underestimate the costs of running these old beasts, especially if you want everything in mint and working condition
@Driving a Bimmer yeah, they don't break down after 30k milez
@@dimitrijekrstic7567 the car was sitting for 20 years withouth any care
@@kapitalisttas that's a fair point
idk lol anytime i see an old euro my first thought is sheesh i wonder how much that costs to keep running
Ahahaahaha I just added up how many views you got on the “Shorts” videos off the car. You’re great on camera but the sheer amount of attention this car gets is insane. Good job Jamie you won the algorithm.
I actually love this guy so much he goes into detail and everything. I really want a bmw e38 and he just made it so easy for me about repairs if I ever get one. Thanks man I love ur channel in general too, much love💪❤
The amount of repairs he did for a car with just 32,000 miles, sounds like the biggest piece of crap ever.
I love what he's done too, but I'm sticking with I6 E39's. Much lower maintenance, especially with the timing chain.
@@zZiL341yRj736 love these videos but I can't disagree. It needs so much work and it wasn't driven that much...
@@zZiL341yRj736 and it is lol
@@dimitrijekrstic7567 thats why it needed so much work. Cars that sit are worse off than cars that are driven and maintained. He went above and beyond as well. He really did more than he really had to.
Wow a youtube video where they do not tease about the numbers and clearly displays and explains them?? You have my upvote !! I love it! I have a silver 540i so watching the videos on this one has been very motivating to keep going on mine also :) Cheers from Canada!
So I bought a 2001 E38 740i 3 years ago. I'm an avid BMW collector / restore and daily driver. I have a euro E21 635csi 5-speed M-technic, E34 M5, E39 540i auto, e32 750il manual with a 6-speed conversion, and an E46 M3 that I'm currently converting to a true CSL with factory carbon fiber roof and lightweight seats AC delete and everything else of the sort. As a BMW aficionado I appreciate your drive and motivation and tenacity in restoring these cars to what they truly should have been! I'm currently restoring my E38 and adding a 6-speed and a ESS supercharger and a 3.15 limited slip differential to it. Even in automatic form I knew I would never sell this car but I'm amazed at the level of restoration that you have done to your 7 Series. It's all about the little things that nobody else will notice, but that shows how much you respect the cars that you do the things that nobody else would ever think of. I just wanted to say that I respect you and what you are doing.
Thank you! And sounds like you have a nice collection!
7 Series and wearing a cap reversed... that doesn't match
True! 😂
Just took my e38 750 for inspection yesterday. It had the CEL on for the past few months. Got it cleared, passed inspection and as soon as I pulled out of the inspection place the light came back on. I got real lucky.
Surprised they didn't check for monitor readiness.
Cars and Bids Auction is now live and ends on October 11th. carsandbids.com/auctions/9nd56DDB/2001-bmw-740il
I'm not trying to say cars and bids is bad, but this would sell fast on bring a trailer
Hope you're right about the $25K prices and booming on E38's. I've got 5 nice E38's in my fleet, might be time to start contemplating selling one...
Hey, do you ever do work on Mini coopers? What are your thoughts on them? Thanks.
m,
@@jakedekleuver If you look on cars and bids it's 25k for the 30k mileage cars. It depends on everything, but i see 140k going for almost 10k. Have to take everything into consideration.
I've had a 1998 740i and a 2001 bmw 740iL. By far my favorite cruiser and sport-like car!! I got them when they were used, back when these were more affordable. Now, they have double and tripled in value! More people are becoming aware of what a great car they are!! 14 speaker sound system is off the charts good!
Keep up the good work!!
[*cries in 6 speaker E39 hi-fi system*]
Damn, *14*?
@@joseherrera5264 More speakers doesn’t mean more better. You can get a custom hi-fi speaker system calibrated to your car and it will sound like a real studio mix room.
@@markm0000 Well, yes. But for soundstage and other effects, more speakers do the trick, even if they may be lower quality. Hence why some surround sound setups have more than six.
omg BMW ownership exactly. You fix one thing, go on a test drive then blow something else.
Exactly! 😂
I just bought a 2001 740iL for $300 that sat in my neighbor's field for 7 years (it's in surprisingly good shape except for the interior). So glad I found your channel; the end result of your restoration gives me the motivation and confidence to really see this project through!
They rebuild the EDC struts in Poland for around 500€. Great restoration, but removing the EDC is a big downgrade and takes away part of that low mile original condition charm.
He ruined the car
@@Rolexenforcer Agreed!
I wouldn't buy a car with the EDC removed, unless it was so cheap that I could retrofit it myself and still get a good deal.
also the struts were still fine. Theyre shock absorbers, not springs. Them not popping back out does not mean theyre bad. My brand new Koni struts did not rebound.
I have this car and the ABS brake light came on too.😣
Amazing detail in regards to the overhauling and perfect- well deserved outcome. I never thought car flipping videos can be so satisfying also this car is in new like condition for the next owner.
My 97 is the bond color. Unfortunately I don't have the M parallels 🤗
i saw other e38 videos and they changed the springs because they are for the electronic suspension, not for the normal shocks. At least is what he said
That's true, the springs are not quite right for non-EDC struts. They don't cause a major issue though, but I bet it doesn't drive the way it should. I think it was the M539 Restorations 750iL video that went over this issue.
🛑🛫📖🛬🛑
Jamie???
I hope I have your name right, if not I apologize.
Just wanted to chime in and say how impressed I am, and also some friends I shared your videos with, with your obvious integrity and great talent.
You are a true credit to the automotive industry.
I really believe I could buy a car from you with total confidence.
We love your sense of humor.
But please go back to that video of the beamer you were taking the gas cap off of with your big pair of channel locks and please tell me which way is really clockwise.
Looking forward to seeing many more videos from you 👍🔧
📖🛐✈️🇺🇸🐆
12g's, not had for 6months. Would have been 9,500-10 had you gone with the factory struts. Still pretty good. Not so much if someone was to pay to have it all done, they would have been lucky to break even. Factory struts would have put them in the negative. But im sure if someone was paying for this they wouldnt have done as much as you did. Good job on preserving a cool bimmer. Soon as the traction control and brake lights came on and the speedo went out i knew the abs module went out. Just went through this with my buddies 97 740 il.
Sorry to nitpick but it's called "damping", not "dampening". Damping is suspension terminology, while dampening is what you do to a rag to get it slightly wet. Loved this e38 series though!
So you didn’t make any money 🙄. I’ve done this for a long time and for a profitable business you have to take in consideration your labor cost. You really don’t make any money. Your broke even 🙄
I wish you were my mechanic. I drive Cadillacs though. I do most of my own work but the stuff I need a lift for I can’t do and I need my motor mounts replaced! Currently looking for a shop to work on my car that will at least use lube on my and not take me dry….
Roses are red
The used car market is HOT!
Don’t lowball me bro!
I know what i got!!
That’s estimated sale price is what a humble man would sell it for. What is happening with online auctions is just stupid. There’s thousands of millionaires that grew up dreaming for one of these just throwing gobs of money at these old Bimmers and the better optioned, cleaner, and better maintained the more bids. I wouldn’t be surprised if this car breaks a record. It’s such a nice example and you filmed all of the repairs.
Break a record! Lets go!!
What a great series you did with this car, great job I enjoyed it! Keep on doing this kind of projects
Thanks!
Incredible what these cars go for nowadays. I bought my 1st '95 E38 in '08 for 2 grand and put 1 grand in parts that I've installed with friends. Cleaned her up and moved her for 5 grand a year later. Your 7 looks good!!! GLWS!!
This lines up pretty well with my cost doing the majority of the work myself. I'm in mine a little less right now as a 740i sport, but I've also done (or am doing...only about 6 videos into the series) the timing chain guides, vanos, and resealed the front of the engine, along with many new parts (about 1/2 the cooling system, all new power steering, and about 90% of the suspension) and purchase price and parts were similar for a car with just over 100K. Thanks for breaking down the costs, as well as what it would cost for a shop to do this work. It's good to know that people that love working on cars may be the only route to snag these cars and restore them before they all start getting junked because it can cost so much to have the work done by others.
With how much these things are skyrocketing in price, i dont think they will be getting junked. Many ppl will be picking them up to fix them up and flip them.
How about an E31 8 Series 850 next? Timeless cars they are.
You are the only person I would buy BMW from, nice work.
Having owned a 1995 740iL I can absolutely say that I’m not surprised these cars still have a market. It was my first car and was to this day a car I wish I can one day own again. I do favor the 95 in particular for some mechanical and physical design choices
Great Video! You must have an amazing equipment guy!!
He really is a good dude! 😉
I have had about 6 e38s, and they are such amazing cats, but they are nightmares to own
You are more than just a mechanic
Flipping a 740iL is a much riskier proposition, as BMW made many thousands more of the 740's than the 750's. The V12 E38 750iL was made in far fewer numbers while being mechanically more complex. I think if I were buying a car I was planning to flip, lower production numbers would have made a much stronger case for a higher asking price.
Lower production numbers also mean more work complexity (more hours) and less replacement parts (more expenses)
Great video. Greetings from the Netherlands
I don't think people are realizing the quality you consistently put out. This video looks like it was made by a veteran journalist. Like, the rolling shots, the planning, execution. So good.
Thank you!!!
Always knew it would make profit as I have watched a 750iL 6 speed manual make a tidy profit in Germany after 17,000 euros was spend on puchase and repairs.
Great video look forward to the next project
Good work 👍
great video yaaaayyymieeeeee
Tyler Hoover probably lol
Great looking car. I have the same year/model in Oxford green over beige and just turning 120k miles. I put on the last 50k and it's been a good car
5:03 my mk4 jetta has the same screws
Love this car one of my all times and S600 late 90s
I want this car, but I needed to migrate to California to own this, because with our wether it will rust away quickly
I love this car and the love you’ve given it since i found your vids, they are genuinely been one of my favorite cars in the last 20ish years, so good on ya for keepin the dream alive!
I'm pretty sure the springs are EDC only so they are incompatible with the non edc replacement shock.
I love what you had this with this car. From the very start. All OEM parts and brought it back to new condition. The cost analysis was amazing, reminds me of the show Wheeler Dealers and you added some more content too about how much it would cost to fix this car in a shop. Maybe you should contact Edd China to help you out with future projects.
Being a LWB might hinder the success @25k but these detailed youtube videos on the restoration will probably bring that or more
Thx for showing teh profits before the car is sold. Good luck.
If a customer came in to your shop and said I found a car I want to buy and would like you to go over it and fix everything it needs to make it a GREAT car and left a small deposit and said that you could take 3-6 months to fix it between other jobs WOULD YOU GIVE HIM A PACKAGE DILL.
Great video.
Big fan from Texas
Loved the video. Amazing. 👍🏻
Won’t the EDC springs only fit EDC struts? I think the EDC springs need replacing to regular springs that fit regular struts?
Ugh! I’m offended! I always use the turn signals on my BMW! 😉 Of course I’m kidding. Love your videos. Thanks.
Amazing informative vide. Thanks for the cost and profit walkthrough. One more subscriber here!
I don't believe for a second that this car has 30k odo, no way, It was rolled back before every service. Those f..ckers charge $100 to do it. My 20 years old audi a8 with 125k all original parts, looks 100 times better ......this beemer was rolled back HARD
Remind me to NEVER buy a BMW 😬. It needed that much work after 30k miles?? They're beautiful cars, and drive great.. but good lord, no.
If you like videos like this (refreshing old bmw) also go to the channel M539 Restorations.
Really appreciated this video!!
Thanks 👍
Great video, beautiful car, but shitty BMW quality. My friend had 2001 750 IL at the same time when I had 1997 S600, if you compare whose cars next each other it’s obvious bmw has cut so many corners on quality of materials.
I bought a non-working 2003 745il with 160k, scan showed this I will detail and see if it makes sense, orignally BANK 2 had LOW INPUT on A and B so I replaced it with non genuine CarParts set of new four (only installed the two) but still no start just cranks, and now reading changed to HIGH INPUT on both A and B so I removed the plugs and an additional plug from the BANK 1 and cleared codes and cranked the engine and now had 3 codes two for BANK 2 and one for BANK 1 all identical HIGH INPUT so I assumed there was an electrical issue on BANK 2 I plugged back BANK 1 and BANK 2 and cleared the code and cranked it the error code for BANK 1 cleared but BANK 2 came back!
So I took a multi meter and used the black to ground the meter to car and tested the current on plugs and to
My surprise I see current on two but a little different on outer wires than the middle wires, see pictures which means what? Is it a short should the middle wire not be dead also like ground to take signal?
I removed the new sensors and tested them not that I know what I was testing but except for the volts they all test same for connectivity.
I will next try and tap into the wire to see if bringing a metal to the sensors takes away the volts and I’ll post results. Any help will be appreciated! Links to pics in www.bimmerfest.com/threads/code-po347-and-po392-pre-cam-sensor-change-now-po348-and-po393.1420108/
I used to work at a bmw dealership around the time these cars were brand new. When you drive one of these machines, something magical happens and there's a connection with the car that very few cars can replicate. When I saw the new models come out like the bangled up 7 and 5 series, i thought for sure bmw will declare bankruptcy in a few years. But their saving grace was the fact that the driving pleasure hasn't changed, just the hideous new designs. Oh well. That's why I stuck with an '01 audi s4 b5 :) as close to a classic european car as i can get. Thanks for resurrecting these beauties, it's a dying art.
5:55 🤣🤣🤣🤣🤣
I did not get that bmw blinker package.
I don't even have a lever.
Retrofit soon
So, if I were to buy this car for 4900 and have someone else to take care of all the issues, I'll still save $1,250.00?!! I hope you get more than $25,000.00. E38 is a good one. Enjoyed your video.
Weight was a little high, car is about 4300#, not 5300#
According the manufacturer sticker in the door jam it weighs 5246 lbs (2425 kg)
@@JamiesGarage1 Ahhhh, that should be the GVWR which is weight fully loaded with passengers and cargo.
Wonderful informative and well edited video. You are a natural presenter and film maker!
If you had got someone else to do the work you would have made $6000. So the profit you made for 55 hours work was $11500 - $6000 = $5500. Which is $100 per hour.
This BMW engine having so much plastic cover. This engine will burn good and you cant extinguish the fire.
I hate flipping cars that you've owned for a bit like this because everytime you fix every little detail you're like damn.. everything is just perfect now.. well.. time to sell!?
Where to get the remanufactured ABS? Also if vibrating at speeds of 60mph, bad center link, and tie rod, etc?
I can't belive ,the car with 30000 miles,and that class,so bed look,and so much repairs needed 😮
An old car is an old car. I have 2006 Toyota avalon which I decided that I will fix to give it to my wife. I changed the whole interior (leather - dash- etc) and fix everything under the car and painted the car and suddenly I lost the engine due to oil leak that I did not notice. I changed the engine and had another oil leak problem (that I noticed) and also steering wheel problem. I fixed both and the car is still running like shit now and keep in mind that total repairs cost me around 5k$ and if I sell the car now it could bring only 4-5k$.
My father had 2006 Toyota Previa with the same issues he lost the engine so he changed it then lost the AC and replaced it and then lost the gearbox and he changed it and after two days the electrical cables burned and thankfully my father was ok and he stopped the fire.(so he paid around 2.5k$ and the car is salvage)
My advice do not fix old cars and just buy a new one or at least something that is less than 5 years old
I dont care how much it costs i am here for the challenge. You downgraded a classic BMW and expected to go unpunished... peasants. Now your wallet will burn in hell for all eternity
It perfect and inspired for who love in E38, I will share your video in group.
Thank you for a good video.
The turn signal comment 😂. Funny because it’s true. Drives me crazy.
If you didn't disclose these numbers I am pretty sure you would've got a higher price. Your work was great and the car was great.
I really wish I had the knowledge about cars that you have man! Love the e38, one of my favourite cars.
Pěkný auto, jsi šikovný
Left hand side of the front hood doesn’t sit quite right. Slightly too high, very clear when looking at the shutlines above the headlight. There were more minor gremlins but that was strange one.
His expected Sale Price at 11:50
I have 2001 740 il 90,000miles. Flip it. I can't afford to do all the repairs. 1,999.00
By any chance can you show us .. how to change the fuel injectors 2001 bmw 740il
Did you say that incorrectly?
“I paid extra but that’s okay. It needed repairs.”
Goodluck haha… don’t have ur hopes so high. All depends on whos bidding during that moment.
Thing is getting this work done at most garages will cost you 18k yes but the level of work won’t be no where near as good as what 18k should get you. Most mechanics take shortcuts.
I saw you were getting hate for damaging cars, here at RUclips that is very welcome but some people don’t like it because it gets a lot of views so the algorithm pushes it I suggest you break stuff and say fuck you haters but either way I’m a fan and will watch anyway
My boss has one, 87,000 miles 2007 the only thing is that when radio doesn't work then it goes thru optic like fios internet so basically its navigation goes bad and cd and gps and phone. So i want to to get it from him but is it reaĺly worth it. And its the version when you ha e the back seat that recline and basically you get driven in it
Old E38s are great cars but expect to pay for normal and non normal maintenance that can surprise the newcomer…my 3rd 7 series
I know it’s an old (great) video, but just a note that that’s gross profit. by those numbers the net profit wasn’t more than couple of k
This is very very nice content you made. Keep doing the great job Jamie ! I've juat sub your channel beacuae it ia very intereating to learn your work and one or two new things. I am not a car fan but this dedinitely intereating to watch and follow
Can you fly down here and service my E60 with the same love and attention you gave the E38
So he sold they car for 23000 if it's 209 dollars an hour from his profit and 55 hours spent on the car and he paid 11500 to buy the car and fix it up is that right or he hasn't sold the car yet coz he said the part about his profit heade for it an hour was 209 dollars
So 13 grand not including your own time and labour and the car is worth maybe 10 grand on a good day your only hope is to make money off this RUclips video
I would pat him 25k for this car in the heartbeat. He made that car brand new. E38 is hands-down the best 7 series ever
Hi. I have 740i 2001. I need to give a second life to that car. How I contact with you?
Jamie, if a customer brought you an e38, would you restore it as you did your own?
Hahaha just love it you keep getting folk mad❤❤from all in the 🇬🇧
This was such a brilliant series. Amazing quality videos and craftsmanship. 110% subscribed
My heart hurts when I see such a very good and good job. I hope to work with you.❤❤❤❤❤❤