1974 BMW 2002

We are delighted to be able to offer this lovely BMW 2002 Targa from 1974 for a No Reserve auction. In his care for the past three years or so, the owner tells us that it has only had two previous registered keepers, although we are unable to verify this as the V5 registration document appears to have been lost. We understand that the previous owner had the car for a long time but used it little, and that as a serial BMW collector, the vendor couldn’t refuse an ’02 offered his way despite the fact it did not come with a current registration doc.

He has had the underside welded and undersealed recently, and the front brake calipers refurbished. Now in fully running order in need of only a little TLC, we can see it finding a home with a BMW enthusiast who is keen to get their hands slightly dirty; the work it needs looks to be straightforward and it will, of course, give the new owner the opportunity to add value with every little job they do.

The Wine Red bodywork suits the car’s lines very well, and if you didn’t know better you’d think this was a much more modern car than the 45-year-old it actually is.

The front wings were new when the bodywork was restored back in July 1991. The work that was carried out also included new door skins and sills, plus a complete respray. In total, it cost its owner more than £4,500, which was quite a sum back then.

It still presents well and the work is holding up but as an older restoration there are a handful of minor blisters here and there. In the longer term the rear wings could do with some attention, as could the leading edge of the bonnet, and there are occasional signs of light filler upon very close inspection.

The chromework is generally good too, although a few hours with a tube of Autosol would make the world of difference.

The alloy wheels are believed to be the originals, and are becoming hard to find. They’re in good shape and shod with matching new tyres.

The rear folding roof section has been lightly refurbished and features a new rear screen. The central targa top section is in good shape too, and appears to seal well. The interior headlining is undamaged but would benefit from a clean.

The car also comes with a cream tonneau cover, which is slightly worn; it is still usable but an overhaul or a new one would almost certainly find a place on the next owner’s To Do list.

The black and white ‘hound’s-tooth’ cloth seats are in a surprisingly good condition given the car’s age, with the front seats being in good condition. They’re still firm and supportive, and wear only the lightest of patinas and certainly nothing so vulgar as rips, tears or other damage, although the area where the headrest goes into the top of the driver’s seat could do with some attention.

Sadly, the same cannot be said of the rear seat, which has been the subject of some localised repairs to the top of it in the past, presumably as a result of sun damage. Given the condition of the rest of the car we can see that the new owner will probably want to have them recovered.

We are told by the seller, and we can well believe him, that the carpets are new. They certainly lift the overall feel of the cabin.

The original steering wheel has weathered the intervening years very well, as has the gearknob and centre console. The door cards are in good shape too, as are the rear quarter panel trims. Both have, however, been fitted with aftermarket speakers. Although we are not convinced the keys supplied match the door locks.

Speaking of which, the BMW still has a twin-spindle radio-cassette player, which is a lovely touch although we can’t vouch for its condition as we haven’t tested it.

The boot is clean and tidy, and the boot floor is solid, as you can see from the photographs.

Problems include a cracked dash board (a common problem) as well as some cracked and faded wooden veneer trim and we weren't able to get the interior fan working. But overall, whilst it doesn’t come across as box fresh, it also feels original and largely unmolested.

The owner tells us that the car is running sweetly, and that the clutch and gearbox are both good. We’ve taken it for a brief test drive and confirm that it drives as we would expect given its age and condition.

The engine bay is very neat and clean and a credit to the owner. The underside has had some recent welding and appears to be solid and has been undersealed.

Work to do includes bleeding the brakes; the owner tells us that the front calipers were reconditioned two months ago and need bleeding again to firm the pedal up. The indicators (but not the hazards!) and some of the lights aren’t working either; this might just be a fuse, but potential bidders should take their status into account when setting their bids.

The BMW doesn’t have a current MOT certificate, and while it is exempt by virtue of its age, we would strongly encourage the new owner to have the car re-MOT’d at the earliest. The cost of an MOT is a small investment when offset against the purchase and upkeep of any classic car, and it gives an independent, third-party assessment of the car’s condition, which not only provides reassurance to the owner (and any subsequent purchasers) but might also be invaluable in the event of a bump when negotiating with the police and any interested insurance companies…

The car comes with a history file comprising a few old MOT certificates, invoices and bills. The vendor reports it as build number 47.

It does not have a current V5 registration document, an old 1990s one is included in the history. The vendor will give a full purchase receipt, and if the current one hasn’t been found, the buyer will need to go through the straightforward process of obtaining a new one. With this in mind, and the lack of a current MOT certificate, we would strongly encourage potential bidders to come and see the car in person in order to gauge the car’s condition for themselves; while we endeavour to provide a full and accurate description, there really is no substitute for seeing it in the flesh.

So, if you’d like to inspect the car prior to placing a bid then please contact us to arrange an appointment.

With a guide price of just £11,000 to £14,000, this is a rare opportunity to buy an early 2002 Cabriolet in an unusual colour for not a lot of money. And, while it might have escaped your notice, the 2002 Cabriolet is bucking the classic car trend at the moment by showing price gains of around 30% in the last year, which is remarkable given how flat some other sectors have been…

Best of all, the owner has enough confidence in you lot to offer it on a no reserve basis, so it’ll sell from the very first bid. So, why not pop in a cheeky bid and see what happens? It’s a lovely car that just needs an equally lovely owner to help revive it.

Viewing is always encouraged, and this car can be seen here at The Market HQ in Abingdon; to arrange an appointment please use the ‘Contact Seller’ button at the top of the listing. Feel free to ask any questions or make observations in the comments section below, or try our ‘Frequently Asked Questions’.

If needed, please remember we have a network of trusted suppliers we work with regularly and can recommend: Classic & Sportscar Finance for purchase-financing, Thames Valley Car Storage for storing your car, AnyVan for transporting it, and Footman James for classic car insurance.

BORING, but IMPORTANT: Please note that whilst we at The Market always aim to offer the most descriptive and transparent auction listings of any auction, we cannot claim they are perfect analyses of any of the vehicles we have for sale. While we use our trade experience to assess every car that comes through our hands (and between us we have bought hundreds of classic cars over the years for our personal use…) we are fallible, and our assessment of a car may contrast with that you might form yourself.

This is why we offer a far greater opportunity for bidders to view, or arrange a professional inspection on their behalf of, each vehicle prior to bidding than any traditional car auction, and we will never stop encouraging bidders to take advantage of this by coming to see it in person.

That said, we do take a good look at the vehicles delivered to our premises for sale, but this only results in our unbiased personal observations, not those of a qualified inspector or other professional, or those formed as a result of a long test drive.

Additionally, please note that most of the videos on our site have been recorded using simple cameras which often result in 'average' sound quality; in particular, engines and exhausts notes can sound a little different to how they are in reality.