2001 BMW M3 with 10,000 Miles

2001 BMW M3 with 10,000 Miles

EDIT 8/10/2017 – IT’S BACK! Now with a $58,900 asking price, according to Hunting Ridge Motor’s site. With prices on the rise when the right combinations appear on these E46s, it will be interesting to see when and what amount it finally sells for.

EDIT 7/25/2014: with a few well placed seeds and some research, it appears that this car is the same one as the 10,000 mile M3 I wrote up in May here. That makes the asking price and modifications all the more puzzling. Thanks for the interest and sorry that I didn’t catch it the first time around!

What is the price for perfection? What would you be willing to pay for a brand new example of the car you love? There are certainly a lot of people who love the E46 M3 including me. I really think it was a high point of design for BMW; those sweeping arches, the delicate lines in the hood, the hunched, angry stance – it’s perfect, and best of all, it’s relatively affordable still. But many have already begun to fall into disrepair, and of course when you’re buying an older car you’re subject to what comes to market and managing repairs, restoration and asking price. But what if the car was effectively brand new? Chances are everyone would say “Sign me up!”, especially if that car was in one of the most sought after color combinations. They would, that is, until they saw the price tag:

CLICK FOR DETAILS: 2001 BMW M3 on eBay

2002 BMW M3 with 11,000 Miles

2002 BMW M3 with 11,000 Miles

A familiar face popped into my usual searches this week. It was a 2001 BMW M3 in Laguna Seca Blue. What stood out immediately were the wheels (okay, and the color); BBS CH and near faultless condition throughout pointed towards the example I looked at twice in 2014. Three years later, it’s still for sale and though the price has dropped, the seller is still looking for the best part of $60,000.

In the future, that price may not seem quite that outrageous. After all, finding a perfect condition, 10,000 mile M3 in one of the two signature colors isn’t something you come across everyday, right?

CLICK FOR DETAILS: 2002 BMW M3 on eBay

2006 BMW M3 Competition Package with 11,600 Miles

2006 BMW M3 Competition Package with 11,600 Miles

To me, this M3 is a very interesting counterpoint to yesterday’s RS6. Many aspects are the same; pristine original condition, lower mileage, mid-2000s leading edge performance car.

It’s there where the similarities end.

While the RS6 represented the stepping over a threshold of performance into a war of escalation, the E46 M3 was, in many ways, BMW’s equivalent of the Porsche 993. It was the ultimate development of the normally aspirated inline-6, and to many (this author included), it was the best of the breed.

The third generation M3 is simply a marvel. It took the basic layout of its predecessor and improved essentially every aspect. The E36 wasn’t aggressive looking enough? Fixed. The motor wasn’t the technical marvel that was the European version? Fixed that, too. And the build quality and plastic materials in the second generation were a bit lacking? Solved that one, as well.

Are there drawbacks to the E46? Sure, it only came in two-door guise. There are also some known weaknesses in the chassis, like the subframe problems that can be a costly repair. The S54 is also a more expensive motor to repair than the S50/52 had been, and requires more maintenance (and, super costly oil).

But enough gripes, because while there isn’t a collector market for 2000s Audis, the E46 never really went through the dip in value that the E36 did. Prime examples have always demanded strong money and appear to be on the rise, with several notable auctions recently hammering for ever increasing numbers. Today’s example comes from the end of the line for the E46, and is about as desirable as they come to market. One of 2943 A08 Silvergray Metallic coupes imported, it has the desirable N51M Imola leather interior, the even more desirable 6-speed manual transmission and equally sought ZCP Competition package, and it’s only traveled a reported 11,600 miles since new.…

2002 BMW M3

2002 BMW M3

My dad’s E46 M3 was by far and away the best car he ever owned (though I guess that’s not saying much, since he mostly owned Fords). It was a convertible and, as a result, the chassis was somewhat compromised – the dash would shake at the slightest provocation from a pothole. Still, it was a great car, mostly because it was such a perfect all-rounder. It was fast, handled like a precision instrument and looked sufficiently aggressive without being too shouty. It was also very practical. If you took it down to the shops to pick up a pint of milk, and resisted the temptation to mash the throttle, it could be a very docile car to drive. But if you did open it up, the sound of that 3.2 liter straight six was pretty incredible. There’s nothing else I’ve heard that’s quite like it. It wasn’t a growl. It was a rasp, a sinister, menacing one. I hope that one day I’ll own one too.

CLICK FOR DETAILS: 2002 BMW M3 on eBay

Imola Overload: 2004 BMW M3

Imola Overload: 2004 BMW M3

I’ll admit that I seem to be unnaturally drawn to yellow M3s. I can trace that back to the launch of the E36 and the twin Dakar Yellow examples that turned up at Watkins Glen International for a HPDE; like a newborn, I was apparently imprinted upon them. That doesn’t mean that I don’t like other colors, though, and this Imola Red example certainly caught my attention. It ticked the right boxes; post-LCI example, low miles, 6-speed, great condition and a fantastic exterior color with the optional Fuchs 19″ Style 67 forged alloys. But even more impressive when scrolling through the images was the interior shade of matching Imola Red leather. Who would have ordered such a specification when the majority of new M3 purchasers were considerably more conservative? The answer was a bit surprising:

CLICK FOR DETAILS: 2004 BMW M3 on eBay

2001 BMW M3

2001 BMW M3

Of all the various iterations of the M3, the E46 version is my favorite (and the only one that I’ve actually driven. My dad owned one for a while). I love the S54 engine. The 3.2 liter, straight six powerplant emits an intoxicating, raspy howl when you mash the throttle and puts out just over 330 hp, enough to get the car to 60 in under 5 seconds – numbers that remain respectable today. I love the looks. The standard E46 coupe is attractive, in a sober and responsible way, but the bulging wheel arches, wider track and squat stance dial up the menace and aggression without overdoing it. And finally I love the everyday usability of these cars. The E46 cabin, for example, is a study in perfect ergonomics, offering a comfortable driving position and thoughtfully laid out controls. The chassis is taut and communicative, equally at home on the track or on the street doing the grocery run. Either way, it’ll put a smile on your face every time you drive it, which you can comfortably do, every day. These cars were produced in large enough numbers that finding one isn’t difficult, but you might have to wait a while (and spend a bit more) to get one in your ideal spec. For me, that would be a 6-speed manual coupe in a dark metallic color.

CLICK FOR DETAILS: 2001 BMW M3 on eBay

Feature Listing: 2006 BMW M Roadster

Feature Listing: 2006 BMW M Roadster

Like earlier’s Audi TT, BMW’s first successful foray into the roadster market came in the 1990s with the Z3. The Z3’s styling was less aggressive and more organic than the original “Future Roadster” – the Z1 – had been, but initially motivation wasn’t much better. However, when BMW decided to stuff the E36 chassis full of the higher-power M-product motors, they instantly created a hit. Rear drive only with a singing inline-6 and attached to a manual transmission, they were affordable sports cars that offered a very high fun quotient even if they were not the most refined product, style or substance-wise.

At the same time that the M Roadster and M Coupe debuted in North America, planning was already underway for the Z3’s replacement. The new E85 Roadster and E86 Coupe debuted as a fresh face to replace the 90s-era Z3 in the early 2000s, but almost immediately the styling was considered controversial. There were hard edges, curves and cuts integrated into the exterior, and the traditional driver-oriented dashboard was gone, replaced by a more modern flat-cockpit layout. Much like the original Z1, it didn’t look like anything else on the market at the time, and reception was mixed.

Dynamically, though, it was hard to argue that the Z4 wasn’t a vast improvement in refinement over the Z3. The rear suspension was updated with a new multi-link setup which handled power (and bumps) significantly better than the outgoing E36 chassis with E30 bits. A stiffer structure meant more overall composure. And though the interior remained plastic-heavy, the new generation of dashboards looked much more upscale and modern than the dated 90s pieces. Yet the biggest change lay at the end of the run, as it had with the Z3, as starting in 2006 BMW installed the legendary S54B32. Providing 330 horsepower to the rear wheels and trick M-differential via a 6-speed manual, the limited production M Roadster and M Coupe also corrected one of the perceived flaws of the normal Z4 lineup by retaining a hydraulic steering setup.…

2002 BMW M3

2002 BMW M3

The BMW M3 was a massively successful car in terms of sales for the most recent chassis iterations. For the U.S. specification E46 Coupe, that meant some 26,202 were sold. Yet, when I was searching for a nice one to buy, finding a lower mileage, great condition and fully original car was extraordinarily hard. It wasn’t that they weren’t out there – pop on to EAG’s site, for example, and all you need to do is pony up. Pony way up, that is, as most of their E46 inventory is priced above $30,000. However, the delta between really exceptional examples and really poor examples of the model is substantial. Even when not in stock form, such as the 2001 I looked at a few weeks ago, the asking price can be quite strong. However, drop the miles way down and present the car in a rare color, such as this Topaz Blue Metallic example, and sprinkle with some top-dollar modifications, and you’ve got an asking price that’ll get you the much more powerful E92 replacement:

CLICK FOR DETAILS: 2002 BMW M3 on eBay

2001 BMW M3

2001 BMW M3

Though I’ve quite happily entered into M3 ownership and don’t regret my choice, I still keep my eye on where similar examples trade for. Just last week an Interlagos Blue ZCP came to the attention of both Dan and I and sold for just below $20,000 – not bad, but the car had quite a few miles and no major services completed and some unoriginal changes, such as darkened wheels. There was another that I was following at the same time – this earlier 2001 example. While not a ZCP, this 2001 had the later look with updated wheels and taillights, plus a CSL trunk. The condition also looks generally a bit better and it has lower miles, but is also missing most of the major maintenance these cars can require. Still, there’s the big draw – that amazing Laguna Seca Blue exterior, this one hiding a rare Gray interior. It was my second color combination choice, and worth a look:

CLICK FOR DETAILS: 2001 BMW M3 on eBay

Motorsports Monday: 2004 BMW M3 GTR Replica

Motorsports Monday: 2004 BMW M3 GTR Replica

In 2001, BMW wanted to race the new E46 M3 in the Le Mans GT series. But in order to really be competitive, it needed more power – after all, it would be racing the likes of the Corvette C5R, the Porsche 911 GT3, and even Ferraris. As stout as the S54 was, BMW opted to stick a V8 into the E46. Not only did the V8 produce more power, but a look under the hood revealed that it moved the weight back – far back – from where the inline-6 would normally hang. Run by Schnitzer in Europe and PTG in the U.S., they were quite successful if often protested, and in 2001 the PTG developed car won the Petit LeMans in the U.S. and continued to win until 2005 in Europe. They also won the imaginations of BMW fans across the globe, with the the necessary road-going 380 horsepower GTR model a mythical beast of near biblical proportions. Some went a step farther, though, and made track ready weapons. To lower the M3 and be able to run massive wheels – like the 18×11 and 12″ variety of this particular replica – it required some work. Well, a lot of work:

CLICK FOR DETAILS: 2004 BMW M3 GTR Replica on eBay

2002 BMW M3

2002 BMW M3

1When I went away to university, my dad finally got his hands on the best BMW he ever owned: a six-speed E46 M3 convertible in carbon black. He would put the roof down whenever he could, just to hear the raspy S54 motor sing from those quad tail pipes, even if the weather was crap (which, being England, it frequently was). With 333 hp squeezed from that naturally aspirated, race-tuned straight six it was fast, comfortable and relatively practical; a performance car you could daily drive. I’d like to own one myself one day, though I’m not willing to put up with the compromises made for the convertible, so I’d go with a coupe instead. I even have my ideal spec picked out: a six speed manual in stahlgrau (steel gray), a gun metal color discontinued after the facelift of ’03 and replaced by the more mercurial silver gray. While steel gray was not unique to the M-cars, I’ve always thought it suits the bulging lines and wider track of the M3 very well.

CLICK FOR DETAILS: 2002 BMW M3 on Bimmerforums

2002 BMW M3

2002 BMW M3

When I pull the cover off my M3, it still seems like a bit of a dream. I can’t believe that I finally was able to get the car that I really wanted for such a long time. Yet, I still wonder a bit – did I pick the right one? With only around 500 Phoenix Yellow Metallic coupes imported to the U.S. there aren’t a lot to choose from any day of the week, so it is always a bit surprising to see one which outwardly looks exactly like my car. Well, almost exactly…

CLICK FOR DETAILS: 2002 BMW M3 on eBay

2006 BMW M Roadster

2006 BMW M Roadster

The perfect counterpoint to the pristine Golf Cabriolet from earlier is this E85 M Roadster. Now, the M Roadster – in either guise – is not the favorite German convertible, nor is it the favorite M product. Heck, we barely have ever covered the model, either – I wrote one up 3 years ago, but this may be only the second time we’ve looked at an E85 M Roadster. Critics detest the Bangle-era styling among other things, and some will point out it wasn’t even built in Germany, as the final assembly point was the Spartanburg plant in South Carolina. Excuse that for a moment and let’s consider that the E85 M might be one of the best values going in the used performance BMW market. There’s the classic Roadster recipe; two seats, front engine, rear drive. There’s the legendary S54 inline-6 under the hood, and it’s mated to a 6-speed manual. They’re rare, too as they ran only two years with some 3,041 sold in the U.S., which makes it one of the least frequently seen Ms. While not a market darling at the moment, it wasn’t terribly long ago that buyers ignored the E36/7 so there’s a reasonable expectation that they’ll appreciate. Pick up one in a great color and with low miles and it’s just about a sure bet:

CLICK FOR DETAILS: 2006 BMW M Roadster on eBay

2004 BMW M3 Individual

2004 BMW M3 Individual

I’ll admit it; I’m a bit of a sucker for off-colored cars. Perhaps it’s having something that most others don’t. Maybe it’s my anti-social id expressing itself through vibrant tones. Or, more likely, it’s just nice to see cars in a shade out of gray scale. In this case, this 2004 M3 is one of twelve imported in the BMW Individual shade of Brass (Messing) Metallic. Are the results of choosing such a different tone on the E46 successful? You bet your brass….

CLICK FOR DETAILS: 2004 BMW M3 Individual on Seattle Craigslist

2003 BMW M3 Individual

2003 BMW M3 Individual

In my search for an E46 M3, one thing became quite clear – finding uncommon colors in good shape was very difficult. When you start to look at the color breakdown of the 2001-2006 M3s imported, it soon becomes clear why. According to the M3 Portal, some 5,853 coupes were ordered in Titan Silver Metallic – basically, one out of every 5 coupes in the U.S. is this color. A further 4,700 are Carbon Black, about 3,400 are Black and and nearly 3,000 are Silver Gray. See where we’re going? A full 60% of E46s were either silver-gray or black, and a further 10% were eaten up by Alpine White or Steel Gray. So only 30% – about 7,500 in total, broken up between the eight stock colors, with a minority – only 321, or just over 1% – being special ordered through BMW Individual. Some of the Individual colors are just about that, with about 30 different shades being selected. For example, there is one Malachite Green Metallic E46 M3 kicking around the U.S. somewhere. But today’s color was a much more popular selection, though it bookends E46 production. Available on the E36 and back by popular demand on the new 3-series, Estoril Blue Metallic certainly looks great on the lines of the E46, and this is one of a reported 58 imported in this color:

CLICK FOR DETAILS: 2003 BMW M3 Individual on eBay