Why are LM002's nearly double the cost in Europe?

Since 2002, when I started looking at Lambo ads on the net, I have noticed something strange about the LM002.

 

 

Most LM's fall between the $55000 and $80000 range in the US. The cheapest LM002 for sale by a dealer in the US was a 1987 with 54000 kilometers, in FL. It was white and it sold for $47000 USD. This was early 2004. Recently, a dealer was selling a 1990 LM002A, only 4000 miles, celebrity owned. This was in January. I queried the seller on the reserve and he told me he would let it go for only 55000!!! Truly a steal! Too bad I didn't have the money on hand at the moment............................................

 

Back to the heart of the issue, there are virtually NO LM's for sale in the US at the moment. I realize there was only 301 made, and let's face it, not all of them survived over the last 20 years..... But at the prices they sell for in the US, you'd figure that collectors want nothing to do with them! But when I searched for LM's in Europe, not only were there atleast 8 or 9 for sale, the cheapest one was 75000 euros, which is like 89k american! The most expensive one was a gut-wrenching 120000 euros! I nearly vomited upon sight! :vom:

 

The auto market in Europe is not as similar to the US as I had once suspected. I'm sure you heard of Dodge RAM SRT-10 P/U's...... The base MSRP is 50000 in the U.S., and since nobody wants a vehicle that gets only 9 miles to the gallon, they sell as cheap as 30000 in the U.S.! In Europe, they sell between 53000 and 68000 euros, about 63000-81000 American! WTF??????

 

They must either heavilly tax gas-guzzlers, or the LM002 must have heightened collector intrest........

 

PLEASE!!! I encourage replies!!!!

The Countach sells for more in Europe

The Diablo sells for less in Europe

The 512TR sells for less in Europe

i have seensome LM for sale in italy, average priced 65-70000 euros,

but they don't sell for these prices easily....

miura are 3 times more expensive, but they sell easily,

some countach's are priced a bit over LM's but it is much much easy to find a new buyer

The Lm002 americana with 4,000 miles that was owned by the celebrity was actually sold for $75,000. Still a steal.

If you think European prices are crazy, try bringing a car into Singapore. A friend of mine says a Gallardo or similar would cost about £250,000 ($350,000), and that's only if you can prove you have somewhere to park it!

I wouldn't buy an LM at any price unless you want a museum piece.It is by far the most useless vehicle Lambo has made.It is not good in snow,not good off road,get terrible gas mileage,and is plagued with all sort of problems.I have a couple of friends who own one and they have been stuck at the side of the road numerous times.

I must respectfully disagree...ask anyone who drove in the Giro/Running of the Bulls a few months ago. My LM performed flawlessly on the drive from Seattle to Tahoe to Monterey. The only reason that I did not drive down the coast to LA after Pebble Beach (I had some other business down there) was that my tires were on their last legs. The entire drive was done on the original tires which are notoriously dangerous with a lot of highway mileage. Once Pirelli releases another batch of their redesigned road tire, my LM will be another one of my daily drivers.

 

Granted, it will probably never see off road or snow (I'd venture to say the same about 95% of the Cayenne's out there) and you've got to have the money for the gas, but it's definitely not a garage queen.

I must respectfully disagree...ask anyone who drove in the Giro/Running of the Bulls a few months ago. My LM performed flawlessly on the drive from Seattle to Tahoe to Monterey. The only reason that I did not drive down the coast to LA after Pebble Beach (I had some other business down there) was that my tires were on their last legs. The entire drive was done on the original tires which are notoriously dangerous with a lot of highway mileage. Once Pirelli releases another batch of their redesigned road tire, my LM will be another one of my daily drivers.

 

Granted, it will probably never see off road or snow (I'd venture to say the same about 95% of the Cayenne's out there) and you've got to have the money for the gas, but it's definitely not a garage queen.

 

Well said!. Personally I always liked the LM (before SUVs were invented/became fashion accessories) and it showed Lamborghini had a sense of humour. The running costs must be astronomical so respect to those who do keep them on the road. :supz:

The Lm002 americana with 4,000 miles that was owned by the celebrity was actually sold for $75,000.  Still a steal.

 

It did?

 

When I emailed the guy, he told me the reserve was 55k.

 

He must have been pretty happy that he racked in 20k over his reserve!

I think I know how it is now:

If the LM has a clean title and is in atleast "good" condition, then:

86-87's usually sell between 50000 and 80000.

88's usually sell between 59000 and 85000.

89-92's usually sell between 78000 and 130000. (holy shit!)

all prices are USD.

These are my educated guesses upon observing sales over the past 1 and 1/2 years.

 

I also found that an LM with 4000 miles can sell for as much as 25k more than one with 30000 miles.

Mileage is key in the pricing, as well as minor cosmetic flaws.

I wouldn't buy an LM at any price unless you want a museum piece.It is by far the most useless vehicle Lambo has made.It is not good in snow,not good off road,get terrible gas mileage,and is plagued with all sort of problems.I have a couple of friends who own one and they have been stuck at the side of the road numerous times.

 

True, very true. It is impractical as hell! The fuel economy would probably be a single digit number, right?

 

I still don't give a damn! It's 12-cylinder Countach engine calls me! Besides, older LM's in good shape can go under $50k on occasion, and any Countach variant (not to diss the Countach, because it is God) will VERY rarely go for under $75k these days. THE LM IS (soon to be) MY CAR!!!

 

One question, though.............

 

I know it's obvious that Countachs are booming, but will the LM appreciate as well?

 

I hope not, because it is among the very few "affordable" Lambos.

"I currently have it listed on my site..and from what I have SEEN out there in the last year....well MY price is a STEAL....I also see these doing nothing but going up..they sure the hell are not going to go down!!"

 

I won't argue that your deal is an awesome one. Other dealerships would probally slap it with a $90,000, even $100,000+ price tag because of the condition. I think that's legit because I have observed (via net) at least 60 LM sales over the past couple years.

 

A couple days ago I saw the deal of a lifetime from prestige imports. I'm sure you saw it on ebay. The 1988 LM 002 Red/Tan with 9k miles. I called Jim for the BIN, and to my suprise it was a low $59,000! Through negotiation, he said he would let it go for a rock bottom $55,000! I didn't end up buying it, just window shopping. I think it sold for the original $59,000 price two days ago.

The Red LM at prestige automotive was not sold, Jim said the car was on consignment and the owner took the car back and off the market.

If you want bad prices. Talk to Mike S. He lives in South Africa (im sure you have heard of Mike S) He has told us about some CRAZY prices...

If you think European prices are crazy, try bringing a car into Singapore. A friend of mine says a Gallardo or similar would cost about £250,000 ($350,000), and that's only if you can prove you have somewhere to park it!

 

Its not really the price of the car, its that in many asian countries, they have taxes to the tune of like 100-150% making a Honda Civic cost as much as a BMW here.