AUCTION TRACKER

BMW 2002 TURBO

Only 1672 Turbos were produced, all left-hand drive and finished in Polaris (silver) or Chamonix (white). A five-speed gearbox, sunroof and Mahle alloy wheels were among the few options available. Increasing values in recent years saw the best examples trading above £80,000 at auction in 2016 for the first time, with Russo and Steele achieving $115,500 (£83,500) at Monterey in August. The following year Gooding & Company’s concours awardwinning car fetched $143,000 (£103,500) at Pebble Beach, while barely seven months later Gooding marked the high-point in 2018, hammering away a 40,000-miler for a record $192,500 (£139,000).

Results have slipped back since; an immaculate turbo from the Youngtimer Collection (pictured) drew £94,875 at the RM Sotheby’s London sale in 2019, although RM recovered some ground at the start of 2021 with another top example – the subject of a three-year restoration – changing hands for $168,000 (£121,500) in Scottsdale.

Dan Norris of Munich Legends explains why prices for these cars are so high: ‘Finding a good one is very tough. When I started at Munich Legends in 2009 we had a nut-and-bolt restored 2002 turbo that we couldn’t sell for £18,500.

‘As a result of values being in the doldrums for many years, people didn’t spend the money on them and didn’t keep the servicing up. Now the values have gone sky high, but it’s a bit too late for most cars – histories tend to be hit-and-miss because they’re from an era when main dealers weren’t computerised.

‘There aren’t loads of excellent cars around because most were run into the ground. They seem to be scarce, partly because they are quite hard work to look after. They go out of tune and, like all 2002s, they are very susceptible to corrosion.

‘You have to consider the cars with no history, unverified mileage, and lack of provenance due to the fact that “you get what you’re given”.

‘Basically, it’s one of those cars that if you want one, go and buy it, then worry later about how you’re going to make it right. Any 2002 Turbo – if you really want one – is going to be good.’