That the E30 M3 has been on a stratospheric price rise is old news. So are the stories of “I could have bought one for $400 20 years ago”. You know what? I could have bought a really nice piece of land near the coast in Rhode Island for 10% its current value 30 years ago, but I didn’t. Old, too, are the stories of what floor some ex-M3 owners got off at; for unlucky examples, it was $10,000 a decade ago, but smarter sellers have cashed in on E30 mania in the past year. Thanks to some big number sales late in 2015, the E30 M3 market is stronger than ever which raises the question of how high it will go. At what point will people say “You know what? This is a 4-cylinder near-luxury economy car that I’m paying $100,000 plus for”? It would seem that every time someone raises the flag of THE END IS NEAR another shockingly priced example clears what appeared previously to be an insurmountable hurdle and Mr. Toad’s wild ride continues. While there’s been a slight cooling in the acceleration curve, it’s still pointed directly towards the Moon today. Hagerty’s Condition 1 price valuation for a 1990 M3 is now $115,000, and the average value of those insured is $55,800. But the market has realized that many of the examples coming to market weren’t condition 1, or frankly even condition 2. Lesser than top-tier example’s value has gone almost completely flat, and now it’s the really exceptional models that are rising to the top rather than the entire crop. So let’s take a look at two of the best out there today and muse over whether this trend will continue to new heights:
All posts tagged low miles
Earlier this month, I wrote up a 1988 944 Turbo S in Silver Rose with a scant 7,000 miles covered since new. As with all Porsches, the “S” models have enjoyed a long history of being…well, “Super”. But it took a fair amount of discipline, vision and means to buy an example new and project that it was going to be a collector in the future; especially considering that in 1988 the market on collector Porsches was very, very different. It has only been very recently that watercooled examples have started to appreciate, and even then not all examples have trended upwards. Even with that Turbo model, factoring in inflation the seller would actually be losing money having held onto and not driven that example more than 250 miles a year. How about something more strange – a car that isn’t really considered a collector by many? A great example is today’s 924S – long forlorn by the Porsche community, a greater appreciation for them is only now growing. So what would you pay for an example that has only covered a even more outrageous 125 miles each year since new?
CLICK FOR DETAILS: 1987 Porsche 924S on eBay
Following on to the 1989 BMW 750iL we featured yesterday, here is possibly one of the lowest mileage V12 E32s in existence. We featured this car four years ago and its back up for sale with barely any more mileage tacked on.
CLICK FOR DETAILS: 1988 BMW 750iL on eBay
The below post originally appeared on our site September 11, 2011:
From a string of well priced, overall nice examples of M3s, I’m returning back to a lower mile example – perhaps one of the best condition E36s on the market today. It’s a rare one, too – produced in January 1999, it’s one of the last BG93 E36 M3 coupes produced. Considering I spent some time talking about how the Lime Rock Park Edition E92 is coveted as the end of the run for the M3 Coupe (and E9X), it’s interesting how there seems to be less attention paid to the last of the E36 run. This car popped out at me for a few reasons; I was pondering a low-mile E46 v. E92 post as asking prices on both are nearly identical, but here was a low mile E36 languishing at under $20,000 bidding – less than half the asking price of the super-low mile later models. Unlike the other 26,000 mile Dakar Yellow coupe I looked at, where my big complaint was that I felt the car was overpriced considering the lack of originality, this car has even lower miles and appears completely stock and unmolested. Is this as good as E36s get?
CLICK FOR DETAILS: 1999 BMW M3 on eBay
As my search for “the perfect” E46 M3 continues, this example popped on to my radar screen. Why? Well, for most intents and purposes, it’s “perfect”. With only 10,051 miles on the odometer, it’s one of the lowest mileage E46s anywhere. Condition is near perfect. It’s a 6-speed manual. It’s a coupe. These are all on the must-have list for what I’m considering; that brings us to color. On the inside is N5TT – Grey Nappa Leather. I’m still with you, as I don’t like the all-black interiors on these E46s. Outside is 405 – Imola Red II, a pleasingly blue-red shade that sets the car apart from the normal silvers and blacks that M3s all-too often appear in. Okay, Imola isn’t my favorite color, but when you’re talking about low-mileage 13 year old cars in basically new condition, it’s not as if there’s a huge pool to select from: