The M Coupe has moved from cult legend into one of the most desirable M products produced. Late production S54 equipped models can top up to $60,000 asking prices. Add in a rare color and great combination, and they’re all the more desirable. While not quite a 1:1, the M Coupe is like the Porsche 964, and the S54 models are the RS America of the lineup.
For most of us, that means if you want a ‘Clownshoe’ you’ll need to look towards early production when they were equipped with the venerable S52. That’s not necessarily a bad thing, as lower running costs and higher production numbers mean much lower asking prices. Still, it’s not unusual to see atmospheric asks, such as this 2000 M Coupe in Estoril with Estoril leather. With only 56,000 miles on the clock, the seller wants $39,900. While it’s not likely that number will be even close to realized, good luck convincing them of that.
Yet occasionally a nice one pops up in a no reserve auction format to give us plebeians a chance to own a legend. So here we go, with this ’99. It’s the same Estoril/Estoril combination as above, which is fairly desirable – one of just 313 imported in this pallet. Condition looks very good and there are some high quality modifications, but is there a catch?
So, you have to drop $40,000 for a unique M Roadster? Hardly. If you’re willing to forgo the additional grunt of the S54, S52-powered Roadsters are still very affordable. And, they can be plenty unique in their own right. Take today’s ’98 for example. Evergreen is probably a bit polarizing in tone, but it’s also quite distinctive. The total pool of Evergreen examples represents only 2% of overall production of M Roadsters, though. Out of the 10,501 produced, 201 were shipped in the bright green shade – and out of those, 176 were equipped with the equally distinctive two-tone Nappa leather interior color matched to the outside. I’ve looked at a few of these examples previously:
Evergreen Forest, Part II: 1998 BMW M Roadster
So you get an unusual color, a more unusual interior, and still quite a potent convertible in the early M Roadster. What is the price delta, though?
Just last night, a friend informed me he had “acquired an older BMW”.
“Willingly?”, I asked. He affirmed he had contractually agreed to this life changing experience. “What model?”, I furthered.
Now, supportive friend Carter probably should have nodded in approval. After all, the Z3 is great value for the money. They’re cheap to buy, cheap to maintain, and fun to drive. But what actually came out of my mouth was laughter. Not maniacal laughter, mind you, but just the uncontrollable mocking type that you immediately feel a bit bad about. Hoping to redeem the situation a bit, I prodded “Six cylinder…?” Nope. 4. I contained further laughter at this point, but I was grasping for straws. Meekly, I ventured “…..manual….?” hoping for some affirmation. “YES!” he happily retorted, glad to finally confirm a question of mine.
It’s actually a nice car, and it’s in great shape, and he paid almost nothing for it. But from the same period, BMW had some other affordable, fun to drive and even more potent options for enthusiasts. Take, for example, the M3 Sedan. Like the Z3, it was rear drive. Like the Z3, it has a manual, and they share some achitecture. But while the Roadster has a bit of a stigma that results in enthusiasts’ dismissal, the M3/4/5 has developed into a legend in its own right. Damn the fact that it didn’t have the more exotic Euro motor, if you want a cheap and pure driver’s car while still being able to comfortably transport 4 adults, they don’t come much better than this platform:
Continuing on the theme of adding diverse tones to your life, BMW’s M3 has been traditionally one of the most colorful pallets in the Bavarian lineup. We saw the late shade of Fern Green on the late-model Convertible the other day. But fans of the E36 lust much more after the favorite “M3/4/5” model – the limited 1997-1998 3.2 sedan in manual form. It offered practicality and reportedly slightly lighter weight than the Coupe. And just like the Coupe and Convertible, it was available in all sorts of eye-catching shades. Today I have two of the most conspicuous: Techno Violet Metallic and the very limited Byzanz Metallic. Which is your favorite?
As they had with the first generation, with the E36 BMW continued the tradition of chopping the top off its curb-hopping M3 to alter the character of the model substantially. The resulting “BK” models are the least produced of the second generation. In European form, some 3,800 were produced with a bulk of them heading to England starting in 1996. The U.S. model began production as the model’s run came to a close; in March 1998, the first of what would become 6,269 U.S. spec 3.2 M3 Convertibles rolled off the production lines in Regensburg. That meant the M3 outlasted normal E36 production, as if you walked into a dealer you’d find the all-new E46 model being sold along side these topless M3s. As they came towards the end of production, most of these M3s came as well-equipped as the E36 was available, and options included forged M-Double Spoke wheels and a removable hardtop. Extra bracing went in to stiffen the chassis, which resulted in a 10% weight penalty and slower performance – but I’d wager that wasn’t on most buyer’s minds. Of the just over 6,000 models sold here, the majority – about 60% at 4,017 – were sold with the 5-speed automatic. So today’s example is already in the minority; a last year example, it’s also a 5-speed. But to push it just that little more over the top, it’s also in the rare shade of 386 Fern Green Metallic:
Edit 11/3/2017 – I looked at this Dinan modified M Roadster last August, but there was little information and it hung around for quite a while at $25,000. It has now moved on to a new seller who has taken some more photos and raised the price $4,000. After last month claiming it was an ISR3, the seller has confirmed what our comment from Eric indicated – it’s “just” a S3 Roadster. It has about 1,000 more miles since last year but still looks relatively reasonably priced if you like the color combination and gutsy Dinan modifications – Ed
The other day I was talking with my friend about Turner Motorsports. I first met Will Turner when he was a BMWCCA instructor, just trying to establish his business of selling parts on the side. He and his compatriots all sported E30 M3s; this was, after all, the days before the launch of the U.S. E36 M3. Turner managed to parlay early success in a local modification scene outside of Boston into a countrywide business, and after some time in the club race scene he moved into the major leagues. Success against better funded teams was sometimes difficult, but today Turner is still alive and very much kicking, having become one of the two defacto factory-backed teams running the M6 GT3. To get to that point of factory involvement is an arduous journey to say the least, and few who start out make it.
One other who did was Steve Dinan, who took a niche tuning business from the 1980s into a factory option today. You can walk down to your dealer and order up a fully backed, Dinan modified car. That took a tremendous amount of work and is a testament to the quality of the products on offer from Dinan. They truly take the well-engineered BMWs to the next level, but modifying them to do so can be quite pricey. Take today’s M Roadster, for example. While it wasn’t exactly a cheap car to begin with, with entry level prices in 1998 starting around $42,000. This M Roadster, though, went on to get a further $36,000 in modifications from Dinan:
The first BMW to arrive in our family was an Arctic Silver E36. My dad bought the 318iS coupe from the British telecom giant he worked for, some time toward the end of the 90s. It was a manager’s company car and after three years serving on the fleet it was to be sold off. Ever since then, I’ve always enjoyed seeing arctic silver paint on this generation 3-series. Despite articles proclaiming that silver is the new beige, I think the color really suits the clean, crisp lines of the “dolphin” body shape. But the paintwork isn’t the only thing to admire about this particular car – an M3/4/5 (a four door, five speed M3). The sedan version of the E36 M3 is as fast and finely balanced as the coupe, but adds the practicality of two rear doors. A pocket rocket for those with a family to cart around, these cars are fun and practical, even if they are notably down on power in comparison with their Euro-spec counterparts.
I’m a fan of the sedan version of the E36 M3 and often wondered why BMW declined to build a four-door version of the E46 M3 that followed. (At least one person has tried it – click here to read an account of a wild and very successful E46 M3 sedan home-brew build.) In the sedan, you get the same basic ingredients as the coupe – a revvy engine and dynamic chassis that’s fun to throw around yet easy to live with – with the added practicality of a rear set of doors, useful if you have family or friends to cart around. Even if the US-spec cars were a bit “neutered” in comparison with the more powerful version offered in Europe, the E36 M3 offers a nice, well-rounded package and remains relatively inexpensive, although nice condition examples get thinner on the ground every year. The M-Tech bumpers and side skirts look neat on the sedan body style, and remain subtle enough that passers by might just mistake it for a plain old 328i.
This past weekend I drove by the spot where I first encountered the M Coupe. The year was 1998, and to be honest the Z3 lineup had been pretty forgettable. In many ways, the car’s signature launch through the James Bond film Goldeneye summed up how most felt about the Z3:
“Hey, look, a new convertible BMW!” (moves on)
But that changed with the launch of the M-tuned models. The E36/7 and /8 suddenly had the performance to back up the hoopla associated with the launch when the S52 from the M3 found its way under the hood. Augmenting that were upgraded brakes, giant shadowline Roadstar wheels with massive (and awesome) lips, and wide flared fenders culminating in quad exahusts emerging from the rear middle of the car – what would become signature on the next round of BMW M models. It looked great, it drove great, and was available in some pretty wild colors. It was pretty much the instant recipe for a collectable, but values languished for some time before the Coupe models really started taking off a few years ago. But it’s still possible to get into a collector-condition Z M model for not an outrageous sum:
The M Coupe has really emerged as the next great thing in the BMW world, with nearly every single for sale advertisement riddled with hyperbole about how they’re the next big thing and how incredibly rare each particular color combination is. The truth is that if you’re just trying to get on to the M Coupe train, you’re a bit late to the party – but that doesn’t mean it’s not worthwhile to check out a good looking one: