Lightweight mania continues, but that doesn’t necessarily mean that you’re without options. You could try one of two things; on the one hand, you could buy a track-ratted, rusted, and incomplete factory example for about $18,000 in need of a total restoration.
Sound like a solid plan?
If not, you could consider this car. Now, first off, this car is NOT a real Lightweight. But it’s got the same body, the same color, Lightweight-style modifications, and while not hand-picked, the same drivetrain. It’s got some tasteful upgrades on the interior, too. And at the end of the day, it’s still an M3. To top it off, this tribute will set you back a bit over $1,000 less than the real-deal basket case that was on BaT last month. What’s the catch?
For some time, critics have claimed that the E36 chassis was just too prolific and not special enough to be considered by collectors. They weren’t built well enough, they didn’t have the pedigree of the E30 or the power of the E46, and since you could buy one on your local Craigslist for $5,000 (less, sometimes!), why the hell would you pay a premium for one?
It’s been about a year and a half since we last looked at a M3 Lightweight. The ask was $90,000 on a model with below 30,000 miles, and it was no surprise that for many that ask was far too strong, though I suggested opportunities like that weren’t going to come along every day. In that time, we’ve seen some big numbers start to roll in for special E36 variants, like the $65,000 Canadian Edition M3. But all expectations on the E36 market, and especially those on the Lightweight model, were thrown out the window this past March when a lower mile, all original example came up for auction at Amelia Island.
The price? After hot bidding and when the hammer finally fell, it hit $145,750. I was astounded, even though for years I’d been claiming these cars would increase in value in the not too distant future. What does that number mean for the rest of the run?