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Conventional wisdom would have it that North America was robbed of the “real” M3; the undiluted, S50B30/B32, individual throttle body, floating rotor, continuously variable VANOS enthusiasts’ dream. Conventional wisdom, though, is wrong. Exploiting a loophole in importation laws, in 1994 BMW Canada commissioned a run of 45 exclusive European-spec E36 M3s. These were the full-fat BF91 rather than the BF93 which would come slightly later to U.S. shores. That meant the full spectrum of Euro goodies were optional on these cars, but most notably the 286 horsepower engine was the highlight. Each got a numbered plaque to commemorate fooling “The Man”, the only real changes from standard specification were the additions of daytime running lights and a third brake light to meet Canadian road laws. Sure, your E36 M3 is special, but these Canadian Edition cars are more specialerer. And this one isn’t in Canada anymore – it’s in the U.S.. Feel cheated no more, E36 fans!
We try to stay far away from politics on these pages, but there’s a story I have to share with you that has hit the news here in Rhode Island over the past few weeks that in a round-about way is relevant to this car. Rhode Island, if you’re completely unaware of its reputation, isn’t known for having the most…shall we say morally upstanding lawmakers and leadership. A few years ago, twice-convicted felon Vincent “Buddy” Cianci was nearly elected for the third time to run the capital of Providence. So notorious is the corruption on Capital Hill that when RI recently announced its complete debacle of a revised state slogan in “Cooler and Warmer” (reportedly, it cost 5 million dollars for a firm to produce that), people on social media changed the catch phrase to “Lobsters and Mobsters”. That gives you just a hint of context to contemplate the next story with.
Hot on the heels of Craig’s Mugello Blue RS4 Cabriolet, I spotted this Mugello Red M3 that looked quite familiar. A 1994 model, it’s a full European specification 286 horsepower car, meaning it’s the E36 that you wanted but BMW decided was too expensive to import. Back in 2014 when I first looked at this car was it a reserve auction, but as of now the first bid at $12,500 will get it. The current seller has taken a gamble with the no reserve auction format, but no information provided means the buyer would also be rolling the dice if you didn’t have the earlier description we do below. With only 4,000 more miles accrued, this hotter M3 is in above average condition with below average mileage and quite desirable package overall that is very affordable.
The below post originally appeared on our site October 12, 2014:
Nate has been on a run of covering some great classic Alpina models, and it’s very easy to see the appeal of the brand. Their tried and true recipe of taking the motor out of a higher-end model and swapping it into the smaller chassis might have seemed a simple task, but the execution of Alpina was always top notch and the results were undeniable. Coupled with upgraded wheels and suspension and full of lovely details, they always managed to feel like a premium product and today that appreciation is shown in high asking prices. In the same vein as the legendary Alpinas, many enthusiasts have tried to take the motor out of M models and fit them to lesser 3-series and 5-series models with varying success. But if done right, the result can be a very tidy looking and appealing package on a more friendly budget:
It is always a bit of a treat to look back at some alumni of the GCFSB pages, especially so when it’s a lovely example of a special car that was snapped up by one of our enthusiast readership. For years we’ve banged on about the E34 M5, a conundrum of the M lineup. It’s got all the right DNA to be a classic, yet like the similar 944 Turbo has generally languished in value compared to similar products. That may sound like a broken record on these pages, but it’s a tune which is both catchy and sweet-sounding for BMW fans because it means they’re getting more car for their money. Recent market activity in 2015 has started to remix the tune, though, and E34s have been on the rise. Hagerty currently places top value on 1991 M5s at $42,000 – steep sounding given what they’ve traded for over the last few years, but perhaps more in line with their legendary build quality and performance especially when considering their siblings. But in terms of overall value, let’s consider today’s Jet Black 1991. It is nearly 100% original, fully documented, accident free and has under 100,000 miles on the clock – and currently represents the best value of the original M-car experience:
