Update 1/17/18: After not selling over the summer at $45,000 ask and bidding to only $31,500 on Bring a Trailer with the reserve unmet, the dealer has dropped the asking price to $38,900 today.
Recently I looked at both the E36/7 M Roadster and 36/8 M Coupe. Both have developed cult status, yet values vary dramatically within the short production range depending on configuration. Early S52 M Roadsters are the least expensive of the bunch, with the unique Evergreen/Evergreen example I took a peek at selling under $13,000 despite lower mileage and great condition. Compare that to the S52 Coupe, which sold at $16,100 with 260,000 miles on the clock.
So what does a late model, equipped with the more potent and more desirable S54 bring? Again, that depends on a lot of things. Let’s start with mileage – here, it’s a mere 8,600. Then color? Well, this Phoenix Yellow Metallic example is one of the most infrequently specified combinations, with only 14 produced in the 2001 model year. You can probably guess where the price is heading already…
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?
Last November, I took a look at what was to me a very eye-catching and interesting M Roadster. The E36/7 is still a fairly polarizing design, but as with many models there are signature colors which help to make it both stand out from the rest of the crowd and, in some ways, make it more desirable. For the M Roadster and Coupe, color-matched interior was available on Imola Red, Estoril Blue, and perhaps the most outlandish color – Evergreen Metallic. Finding one of the twin Evergreens can be difficult; only a claimed 176 of color 358 Evergreen Metallic with the Q6EV Evergreen/Black Nappa interior were produced for the U.S. market. I looked at one in November of last year:
Evergreen Forest: 1998 BMW M Roadster
While that example was quite clean and, as what was probably a former press vehicle, it had an interesting history, the asking price was close to top-dollar for a S52 equipped car. But today I have a comparative point; another ’98 Evergreen/Evergreen M Roadster. But under the hood lies something a bit more potent….
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:
A few weekends back I took a ride out into the hills of Connecticut to check out the inventory at Coventry Motorcar. It’s always worth the trip, because though on the grand scale they’re a small dealer they’ve always got some very interesting second-hand cars that you just don’t normally see gathered together at one spot anymore. Like a European-only car show, there were Porsches, BMWs, and of course Audis lining the lot. A cool Volvo C30 T5 stood out, along with a lineup of M3s as my search for a nice one continues. But the car that really grabbed my attention was a M Roadster. It wasn’t a case of the color being outstanding in this case; while some wild combinations were available on the M Roadster, Titanium Silver Metallic was the most popular option, and within that color the Black Nappa Leather was the most common interior. According to the M Roadster Buyer’s Guide, there were some 1,562 (15% of total production) ordered in Titanium, with the majority of those at 1,134 having the black interior. In fact, nearly half of all M Roadsters had all black interiors, amazingly – since it seems the really wild colors are the ones that stand out in my mind. But something else struck me as really special as soon as I saw the date; a 2002 would make it the rarest year of the M Roadster, with only 643 sold. That’s nice, but what’s nicer is what that means under the hood – the full bore, 315 horsepower S54 motivating the small roadster.