I typically would stay far away from posting a car in the condition of today’s E28 M5, and not just because it hurts my heart to see rust all around the lower edges of the car. We’ve posted a few project cars, but for the most part GCFSB is interested in nice examples of fast, rare, and awesome German cars. This M5 inherently covers the first two, but falls far short of awesome. The reason I’m posting it is because the no-reserve auction is already well over $12k, more than I paid for my distinctly non-rusty M5 a few years ago. This one has a Euro bumper and headlight conversion that shares the major flaws on parts close to the pavement. The S38 has 167k miles, but certainly holds some intrinsic value if you look at this as some bidders probably are: a parts car, or at least a car that will need another parts car to become complete. It’s about as unoriginal and in-need-of-work M5 as I’ve seen that runs, yet is still getting scores of bids! The bottom of the market coming up like this is as strong of evidence of the E28 M5’s overall rise as any.