The real story behind the 11 brand new BMW 5 Series E34 series found recently
After a lot of speculations and discussions about those recently found brand new BMW 5 Series E34, now we know the whole story. It comes from a man that is quite familiar with the brand and that saw the cars in person and knows pretty much anything about them.
His name is Milen Milanov and he is the guy behind the Facebook page ‘BMW Fans Bulgaria’. And this is what he posted:
“ Yes, they are real, they are 11, they are brand new and they are in Bulgaria. The cars are located in a wet storehouse with deteriorating ceiling in Blagoevgrad.
The story began in 1994 when a Spanish BMW dealer was in front of bankruptcy. We would like to keep in secret the name of the Bulgarian man who seized the chance of buying 186 brand new BMW E34 series on a very good price. Among them there were several 525ix models that were the most rare - model and only 2272 of them were ever produced. Unfortunately none of them was left in that founding in Blagoevgrad.
The ones still existing are models 520i (420 059 produced) and 525i ( 422 766 produced). The total number of produced cars of that series is 1 334 216, including the exclusive producer Alpina. So far so good until one day Bulgaria decided to establish Value Added Tax (VAT). This automatically raised the price of the vehicles with 20% and the expected “super deal” immediately vanished.
During all these years around 175 cars were sold until 2016, when a group of enthusiasts found the remaining 11 cars in a storehouse in southwest Bulgaria. The vehicles are without proper documents, duty, VAT etc, and therefore with the new legal regulations they can’t be registered as new, because they do not match any euro certificates and norms.
From the pictures, one can clearly see that all the found vehicles are for full painting work - damages by limestone and rust. Besides that, a lot of parts and equipment are missing from some of the cars, because they were (most probably) used as “part donors”. There are a lot of broken windows because of the falling objects from the deteriorating ceiling.
And for those who are very interested in these cars and read on the internet with all the unclear information on the topic, we can tell for sure that there has never been an auction and there never will be. The collector’s value of these cars is relatively low, having in mind the quoted above production numbers for each model, but for sure we can claim that there is some added value on these vehicles.
We will let you enjoy our gallery with a dreamful sight and a pleasant grin by the nice feeling for the lost and found treasure.”
Source: BMW Fans Bulgaria