Litmus Test: 1991 BMW M3

I’ll refrain from my typically verbose introductions, as even the few who only occasionally peruse our pages will need to hear about how, when, or why the E30 M3 came about. There’s not really much point in talking about the mechanicals, either – ‘S14’ has become nearly as recognizable as the chassis designation. Nor is this particular M3 a special edition, limited run, or race car. It’s not completely stock, it’s not perfect, it doesn’t have super low mileage, and it’s not the best color combination. No, there’s really only one reason to talk about this car. Price.

For a while it was only really outstanding M3s that were bringing big bucks. Pundits called it a bubble that was due to burst at any moment. I’m not here to say they’re wrong; it certainly does seem unsustainable. But, then, the U.S. economy also is pretty unsustainable if you boil it down to some basic facts, yet it seems to keep on rolling. And just two weeks ago another (albeit low mileage) example sold for $102,000. So today’s M3 is particularly interesting not because it’s the best or most rare example out there, but because it represents a much greater majority of the pool; cars that were driven and modified, even if only a bit, from their stock configuration. Yet unlike nearly all that are for sale today, the seller of this car has taken the brave step of testing what actual market value is:


Another Almost Alpina Alumnus: 1988 BMW 750iL “Alpina B12 5.0”

I wish that I had better news for you. I’d love to say that I’d found some hidden gem no one else had discovered, and that it could be yours for a song. Today is not that day. Instead, what we unfortunately have is another case of mistaken identity. To add a bit of insult to injury, it would seem that it’s quite intentional.

Back in May of 2017, I looked at two E32 BMWs. Both were modified, non-original examples. One was a 5-speed 735i sporting some Racing Dynamics bits, and the other was a clean and low-mileage 750iL that had undergone a full cosmetic Alpina B12 5.0 makeover.

Outstanding E32 Face Off: 1988 BMW 735i and 750iL

Kudos to the then seller, it was accurately represented. It looked great but needed to be cleaned up a bit, but despite low mileage and all the original Alpina goodies, it sold for pretty budget price – just a bit over $5,000.

Well, it’s back. It’s cleaner, better photographed and there are also some clever changes and omissions in the current advertisement that have apparently sold bidders on a bill of goods that I’m pretty confident the car can’t write:

CLICK FOR DETAILS: 1988 BMW 750iL “Alpina B12 5.0″on eBay

1988 BMW 535iS

The main problem with yesterday’s 745i is that, while on its own it’s a neat car, you can grab many other more desirable BMWs from the same period for less money. The perfect case in point is today’s 535iS. Effectively, this was the U.S. version of the M535i – a M5 without the M88/3, for all intents and purposes. BMW sold about 10,000 M535i models making it a quite successful recipe. Equivalently, the iS model was specific to the North American market and gave you the look of the U.S.-bound M5, with deeper front and rear spoilers, M-crafted sport suspension and sport seats. It, too, was quite popular – between 1987 and 1988, just over 6,000 examples sold in the United States alone, and of those, a little more than half were the preferred manual variant.

While M5 prices have gone somewhat crazy, the 535iS remains quite affordable to most enthusiasts. You get superlative handling, great looks, fantastic reliability and build quality at a fraction of the price of the Motorsport version. And when you add a few choice mods, boy do they look the part:

CLICK FOR DETAILS: 1988 BMW 535iS on eBay

1990 BMW M3 with 297,000 Miles

I believe this is the perfect counterpoint to yesterday’s 968 Coupe. The recipe is much the same, though the result is even more legendary. But what I find so interesting in considering these two cars is not how similar they are, but indeed their opposites. Unlike the 968, this M3 was driven with aplomb, eclipsing nearly 300,000 miles so far. It’s not a particularly special color combination; Diamantschwarz Metallic (181) over Black leather is pretty standard though admittedly it looks very nice. It wasn’t unusually specified, as it carries the normal assortment of M3 options; air conditioning, sunroof, cruise control and electric windows. While yesterday’s 968 was basically factory fresh, obviously with the amount of miles on this chassis, to look anything like the photos it’s had to go under the knife and from the inside out this M3 has been thoroughly rebuilt. But the real tell will be what the hammer falls for in two days. While the immediate reaction of many to yesterday’s 968 was that it was heavily overvalued in asking price, I’m curious to see what the reaction to the bidding on this M3 – already at $28,200 at time of writing – is: