1994 BMW M3 Canadian Edition Individual

You’re not going to buy this M3. It’s not because of lack of desire; certainly, a limited run European-specification Canadian Edition M3 is already a very hot commodity. Further upping the ante was the BMW Individual “Giallo” yellow color, slightly different than the standard specification Dakar Yellow. While that may seem like a strange choice, it was what the original buyer of this already very expensive ($60,000 in 1994, about $90,000 today) ordered – and that choice made this particular car the only out of production color in the run of 45. Obviously, since they cared a lot about their prized Euro M3, miles are super low and condition is effectively near perfect. But you’re not going to purchase this car, not because of the colors, or the miles, or the low production number, or even because it’s a Euro car. You’re not going to buy this E36 because the asking price is $65,000:

CLICK FOR DETAILS: 1994 BMW M3 Canadian Edition on eBay


Year: 1994
Model: M3 Canadian Edition Individual
Engine: 3.0 liter inline-6
Transmission: 5-speed manual
Mileage: 29,574 mi
Price: $64,900 Buy It Now

1994 BMW M3 Euro-Spec (E36)

29,574 miles / #24 of 45 / 2 Owners / Special Order Paint

This Euro-Spec 1994 BMW M3 (E36) is as exciting as it is rare. This car is one of only 45 European specification E36 M3s that were delivered to North America due to a special agreement* between Canada and Europe in the mid-90s. It is car #24 of the 45 numbered cars.

The M3 is finished in a yellow special order paint (referred to as “Sonderlack” in German) that the original buyer chose for this special model.

*Origin & History / #24 of 45

In 1994, various agreements existed between Canada and several European countries which allowed any car authorized in one participating country to legally be sold in any of the others.

BMW unveiled its E36 generation M3 in Europe in 1992 but felt that the car would need to be priced much higher in North America than the market would have allowed for. While engineers worked on a less expensive North American version of the E36 M3 to export, BMW Canada seized this window of opportunity and brought in 45 numbered European specification M3 coupes that were specially produced and imported into Canada.

Each one of these 45 cars has a numbered engraved plaque in both the glovebox and the custom leather case which holds the owners manuals. Despite its relatively high starting price of $59,900, all 45 units were sold within 3 days. Unlike other special versions of the E36 M3, orignal buyers were free to choose any colors and options they wanted on their particular car.

Features & Options

The vehicle has a 3.0L inline 6-cylinder engine producing 282 hp, vented brakes with floating rotors, glass headlights and other European standard equipment. It features a 5-speed manual transmission, a special “Motorsport” interior option, 17” forged BMW Motorsport wheels, power sport seats, an electric sunroof, a premium stereo, a multi-CD changer, air conditioning, power windows and much more.

Although BMW eventually brought the E36 M3 to the United States, the North American-spec car featured a less powerful engine (S50B30US) with 40 hp less. The European specification M3 also had superior floating rotor brakes, better glass headlights, lower and stiffer suspension and some interesting interior options.

The vehicle was originally delivered in March 1994 and remained in the first owner’s possession until June 2007 when it was acquired by its second and current owner. The car’s current owner has loved every minute of ownership but has decided to part ways with this gem.

Impeccable CarFax report, only 2 previous owners and no accidents. Comes with 2 master keys and all owner’s manuals.

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Paul Motor Company provides a comprehensive turnkey service for its customers. The vehicle will be shipped to your door with a US title. Every aspect of the transaction will be facilitated and completed by Paul Motor Company to provide our customers with complete peace of mind. There are absolutely no hidden fees.

The presentation of the car is certainly impressive, though I’ll admit I spent a fair amount of time staring at the screen trying to convince myself that indeed this wasn’t Dakar Yellow. It’s not and it’s most definitely darker, as both the VIN check, the under-hood sticker and a further breakdown of what each of the each of the 45 were specified in on the M3 Forum. There, the claim that it is a Ferrari color is floated, but I can’t find specific confirmation of that other than “Giallo” is specified as the name. The photography, though, doesn’t really do the color its entire justice even though the pictures are high quality. Park this car next to a Dakar example and I bet it would be like night and day. Condition is outrageously good and near new. And there is no doubt that, as with all special edition M3s, there will be a collector market for these cars. It’s certainly debatable if there is a more desirable and better condition example of the 45 out there, but I’d doubt it. Still, there’s the price – $65,000 is some $30,000 more than the last Canadian Edition car I wrote up only a month ago – a car which quite a few already felt was overpriced. Now, that said, this car is more desirable, more original, and only has a quarter of the miles of the Mugello example. We’ve also seen asks for the M3 Lightweight with similar miles exceed this ask by a substantial amount. Is the E36 market on the verge of explosion? Probably not, but it certainly has been steadily creeping up for really good examples. Outstanding models, such as this one, are hard to peg in value since they’re effectively irreplaceable. Does this car really do anything better than a 120,000 mile $14,000 U.S.-spec ’98 Dakar Coupe when you’re behind the wheel? No, but in terms of collector value they’re not on the same page. It’ll take someone with a fair chunk of disposable income to ante up for this stellar E36, but they’ll be rewarded with one of the most unique examples out there. The bigger issue is that if it sells close to ask, it will help to pull the value of the rest of the run upwards – a time to rejoice if you’re currently sitting in one, but for budget enthusiasts another toll of the unaffordability bell.

-Carter

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17 Comments

  1. That guy has some crazy cars for sale.

  2. You also might not buy this car because of the US 25-year import rule… 2016 – 1994 = 22. Am I wrong, or is this car eligible for import under another rule or program?

  3. Too bad there is no build sheet to show the name and paint code.

  4. @Eric
    You are correct. As this motor was never federalized it is a no go until 2019 unless you bring it under show & display which has severe limits on mileage and transfer of ownership but at this price point this car is going to a collector.

  5. If you wait there are Japanese Euro spec cars available for about $15K. Same thing, less dough, just missing the Cdn number plate inside.

  6. @Eric,
    Correct, which I hinted at with the “or even because it’s a Euro car” part in the beginning.
    @John – The VIN breakdown does list the color at “Giallo”, but doesn’t specific Giallo Fly, for example.
    @Eurotrash, true – but I wonder what the agreement was to get the Mugello car in. It was in Florida and I believe was Federalized. It should be possible but probably expensive until 2019.

    Thanks all!

  7. One last “You’re not going to buy this” reason – it sold. Wow.

  8. @Carter – I’m not familiar with Ebay’s lingo, but does “sold” always mean “sold”, or is it sometimes a euphemism for “listing deleted”? Could be the seller found out that “We’re not going to sell this”… But then maybe someone did buy it. In which case, at that price: Wow, as you said.

  9. Usually, sold means someone clicked “Buy It Now”. That doesn’t mean they’ve necessarily paid. Usually, if the car doesn’t hit reserve or the listing ends it shows as “ended”. If they pull some funny business (sold on side, no reserve auction not going their way) they’ll remove the item because of an “error” in the listing. We’ll keep an eye out to see if it gets relisted due to lack of payment, which admittedly happens regularly when cars show as sold.

  10. It currently says “sold for 64,900”. If that’s true I’m thrilled given I have number 25.

  11. @James – LOL, when I first saw it listed I immediately went back to the other listing’s comments, since I remember you saying you had one in the 20s and I thought this was you jumping at the chance to cash in on the bull market.

  12. Those of you thinking this car is not eligible for import into the U.S. are incorrect: these cars have been eligible for U.S. import since they were new, and a few of them went across the border to their first owners. Two of the cars were purchased by the North American divisions of other car companies (most likely Honda and Ford) for study.

    @John

    The paint code on the shock tower, sonderlack, is what was applied to any car with special order paint from the factory.

    @ Bob

    It might be the same in many respects, but they’re far from the same car historically. If you aren’t the sort that cares about the history of BMW Motorsport this wouldn’t be the car for you.

    @ Carter

    I think this car was well priced given the current prices of other special edition E36 M3s. They’ve been languishing for a few years at the bottom of their depreciation curve, and are finally heading back up.

    The car was apparently sold (and this dealership doesn’t mess around, so I’m inclined to believe it).

  13. I’ve got number 1 / 45 by the way, and while it’s higher mileage at a hair over 80,000 km, I’m happy to report that it’s in similar condition. I sure wouldn’t trade mine for a 1995 Lightweight, even with 1 / 10th the mileage…

  14. The car did sell…….because I bought it. What a car.

  15. Wow! Amazing price, how high will this bull market go?
    Congratulations to the buyer on a unique car. What caught your eye about this particular model?

  16. How rare the car is- the color- there are so many factors as to why these 45 are so rare – especially this one being in giallo yellow and having such low mileage.

  17. This car will stay in my collection forever…. until someone wants it more than I do!

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