Xm Value, Misalingment of expectations on value

Over the past few weeks, I've been completely, totally, utterly amazed about the expectations on what one should pay for a decent XM on this forum.

So... let me put a question forward. Three weeks ago, I started to be on the lookout for a 1999 or 2000 XM Berline diesel automatic, with a known service history, preferably in silver gray. I was ready to pay up to € 5000 for a really good one. I was expecting to have a choice.

Turned out I didn't. Looked like I could choose between two, but the first one, priced at €4500, was snapped up on the day it was advertised.
I didn't think further, and snapped up the other one, for €2750.
A couple more were offered, but of these, the service history was either questionable, or simply not available.... so for me, these were not an option.

At € 2750, I think I got a good deal. At least I got a reserve of 2250 euros to deal with anything unforeseen in the near future, so I should be good.

But a question remains.
In the years I associated with big Cit's, I've seen a tendency. Once a big Citroen goes out of production, its resale value plummets to the resale value of a lawn mower in two year's time. It remains at that level for... say, six years. The latest model, with all the mods, is generally looked-upon with some discontent, because it lacks 'type 1' features that are considered crucial by the aficionados.
And then, as if by the flick of a switch, depcreciation grinds to a halt. Approximately a year after its successor is released, resale value suddenly starts to rise again, and the aficionados start to realise that, whereas the 'type 2' lacked individuality that was apparent in the type 1's, the fact that them type 2's had their teething problems sorted is worth something extra.

My example:
In late 1988, I bought a 1983 CX 2200 Pallas (1983) for the equivalent of 550 euro's. In 1990, a year after the XM had hit the streets, I sold the same CX for the equivalent of 1800 euros. I know... stupid! I should never have sold it... but that's another story.
The same trend has been seen with the DS, and the Traction Avant before that.

It seems as if the same thing will soon happen to the XM. In our neck of the woods, a good. youngish XM is already becoming a rare bird. For each XM you can source, there's about 10 times, if not more, as many Passats or Mondeos or Omegas to choose from. It looks like the true aficionados are now starting to realise how scarce, and how sought-after, a young XM iwith a good service record, s. As a result, prices now start rising.
My prediction: if you have a 2000 XM, in our neck of the woods, it'll soon be getting quite a bit more than a 2000 Mondeo Boy, or a 2000 Passat, or a 2000 Omega.

I wonder, is the same trend happening in the UK?

This post has been edited by peterh on November 18, 2008 06:19 pm

Hi Peterh

I am a little amazed by what people are willing to pay for an XM here. Just today i drove past a dealer who had a very clean looking L 1993 reg Vauxhall astra 1.6, It was up for £1250, it seems any car that is clean and tidy will go for around the £1000 mark yet some baulk at paying £600 for an xm of the same age, which is an infinitly better car than any astra .
In the 6 years i have had my XM i have only seen 2 others for sale over here on the island and i do keep my eyes peeled for them .
One was an L reg 20i auto 38k with mild accident damage (needed new wing, side light and indicator lens) and a real base model with manual rear windows, in the end it sold for £1350, the other was a black MK2 16v auto, near 100k from memory with peeling laquer on the roof, again no leather, A/C, Climate or matrix displays and that was up for £1750, it stayed on the forcourt for 5-6 weeks when it was bought by a retired bloke in ventnor, and i still see him out driving it now.
Maybe being on an island with only a few (single digit amounts) of xm's around drives the price up a bit, who knows, in fact i see more E-type Jags on the island than XM's .


D

I agree, i think Xms prices will rise, for the good Xms that are left.

I know some poeple will comment on this but: There will have been a time when Cxs were in the same situation, just another old car, lots got scrapped and they became even more rare. Then prices started to rise as the true enthusiasts wanted the rare cars which were getting harder and harder to find.

Just look at the price for a good Cx now.

So i can see a similar trend for the Xm, well good ones anyway.

People (like a lot of us on here, me indluded) will still want Xms, they will and are becomming very rare cars, although there is still a demand for them.

The question is will the Xm still appeal in 5 or so years time? Well to a lot of its faithful owners it will, Xms are getting fewer in numbers by the week, and if demans is more than supply then prices will increase.

Going back to the old debate "will the Xm ever become a classic" - im sure it will, providing there is still some left!

You only have to think what are currecnt classic cars, one car which should not have reached classic status, in my opinion, is the Alegro (for example, not that im comparing the Xm in anyway!) Horrific looking car, they fizz in the rain etc, however they have a following, and that means that good ones are worth more to its enthusiasts as supply is low and people are still wanting them.

I can see the same happening ith the Xm. Or atleast i hope it does, or Xms will just die out.

I know a few on here only have an Xm because its a big estate car with a great ride, and nnot many new cars can rival that. So those owners will dissapear over time. Howver people like me who have an Xm just for the pleasure of it, will continue to like and want them.

Long live the Xm!

To comment on price- most Xms are worth around £1000-£1500 (more for a late model i know but bear with me..) for a good one, thats so little money for the car you get in return. Im glad prices are high and i hope they increase!

Say an Xm is worth £300, ANY repairs it needs it wont get and it will just be scrapped, im totally against that.

This post has been edited by Citroenmad on November 18, 2008 07:29 pm

And there seem to be a lot more members like you, Peter H and myself who have xm's for that specific reason, because they just want one and will no doubt give it an easy life with maintanence carried out at almost any cost.
Well actually i just love the feeling of giving all my money to the petrol station's GSF and plaides, then laying out in the cold under a citroen every other weekend, but im sure you do it cos you like the car

D

Of course!

Petrol usage isnt too bad, it does around 570 miles on a full tank which i think its quite good. Plus its not an everyday car so economy isnt that important - it does around 3-4K miles a year. Saying that its done 2K in the last two months.

It requires very little laying out in the cold. People would never believe me saying this: the Xm is (along from the c15 van) the most reliable car we own. It gets the routine servicing, serviced around every 8 months, obviously gets the wear and tear things and the spheres regassed every 2 years and thats about it.

Im tempting fate here, but its never gone wrong once, in 6 years. Infact i feel more sure in the Xm that it will get me where i want to be, more than i do driving the Vw or the Seats.

Anyway, we all know this, we're not on an Xm forum for any other reason than we love our Xms

I jest of course, mine is fine too really, im just one of those people who has to take it apart for no real reason, yes im my own worst enemy , like the head rebuild i did earlyer this year because it used a bit (1/2 ltr every 1500mls ) of oil

D

Your a perfectionist then! The only way to be

.............Not the word i would of chosen, and certainly not the word swmbo uses either

D

Ah well!

This is one of my must-haves for a car I'm going to keep: BIG TANK! My XM does a similar 600-650 miles between fillups, seemingly regardless of how I drive it.

Yes, its handy!

Interesting you get more to a tank, i supose its to do with where and how you drive though, everyone gets different MPG dont they.

The last tank was 300 morotway miles, 200 country and arounf 60 town, on a full tank. Pretty good really given the motorway speed.

One thing the Xm hates is town work, the fuel rally takes a dive in the stop start traffic in town. I would think this is where a manual would be better than the auto, economy wise, as its only really in 1st and second gear and there is no lock up on 1st & 2nd.

How does that work out in mpg?

G

Ive not worked it out for that trip yet, as it needs filling up - the fuel light is on.

It usually averages around 34mpg.

Ill let you know when i top it up.

Gawd - that means that you'll have to visit the Services area in the next half year! My thoughts and prayers are with you...

This, for me, sums it up. I may need just a set of wheels, but what I want is an XM.
When I needed to find myself a ride, it was clear to me what I wanted... it was an XM. I had plenty cash to burn... I could've easily bought a 2003 Avensis and be done with it. But that was not what I wanted. I wanted an XM. I was, and still am, ready to burn quite a bit of cash to get one, and to get it sorted properly.
I got one now, and it looks like I'll have to burn a lot less cash than I planned to get it sorted proper. But I'll still be ready to burn that cash if necessary. I know it'll reward me for it.

At one point, my wife literally asked me "but would you not settle for a NORMAL car?" and she probably knew that she nailed it right down using that very word. Do I want another normal car? Another Octavia? Another Avensis? No way.
She knew she had that coming... after all, when I first met her, I *was* the proud owner of a 1983 CX 2200 Pallas. She never dared to drive it (and probably rightly so), but she liked it, and she enjoyed every minute of being driven around in it.

Hence, the answer (and I am positively sure she saw this coming) was a firm, non-negotiable "no" - and she knows darn well when something is not negotiable.

And guess what? She liked it when she first laid eyes on it.



peter

This post has been edited by peterh on November 19, 2008 01:02 am