Over the past year, the E46 M3 market has really started to take off. Back in 2015 it was unusual to break $25,000, but over the past year several have broken double that amount and one bonkers bidding war ended up at $90,000. Have all ships been lifted? That’s hard to say, but certainly more are coming to market in very good to excellent condition and fetching big dollars. As always, collectors are looking for something a bit unusual and BMW Individual-toned cars are hot items. Prior auctions have also shown that big bids won’t be reserved only for pristine original examples, as the top auction draw was a modified car.
So today we’re back with an obviously modified car in an unusual color for the chassis – Dakar Yellow. It’s got the “right” transmission and the subframe has been reinforced too, and the asking price doesn’t seem all that outrageous. So what’s the rub?
Update 11/8/19: This neat ZCP M3 sold for $20,800.
Among potential future classics, few shine quite as bright as the E46 M3. As a car that’s (currently) affordable and still fairly new, the E46 M3 offers performance levels few sports cars reach. It’s also one of the last BMWs mere mortals can work on, the last offering of the S54 motor before the M division switched to twin-turbocharged inline-6s and V8s. To some, the E46 was a mass-produced marketing tool; but to me, the E46 M3 corrected many of the perceived faults of the E36 M3. Of course, the motor was a large part, but outside the M3 was now really set off by flares, quad exhausts, bulges, gaping intakes and vents that really made it look as special as it was. Denied the CSL, for U.S. customers the most special of the breed were the late run ZCP “Competition Package” cars like today’s Interlagos Blue example.
The ZCP Competition Package added quite a few special details to an already special car for the end of the run. Cross-drilled front brakes were enlarged and lighter thanks to a two-piece design and hid behind spun-cast BBS RC wheels. Those wheels measured 19″ x 8″ in front and 9.5″ out back and not only managed to look more menacing, but were lighter than the Style 67 18″ standard wheels despite being larger. Turning those wheels was a quicker steering rack spun by an Alcantara wheel and containing a special “M” track-mode with revised software for the stability control. The ZCP package also had the aforementioned Interlagos Blue Metallic (A30) as its signature color and specific code ZCP milled aluminum effect interior trim. Reportedly, Interlagos could not even be ordered through BMW Individual – if you liked the color, you had to get the Competition Package. While the same S54B32 as standard production lay under the hood, the 333 horsepower screamer wasn’t exactly a bad thing. 2,410 ZCPs were sold in the U.S., with 843 of them being Interlagos – making for not only a great driver, but an instant collector:
If I’m honest, neither the outrageous Passat W8 nor the overpriced A4 Avant from Sunday really thrilled in the same way as the 2.7T-swapped B6 Ultrasport build did. Granted, you could just about buy both the Audi and the Passat for the same price as that build, but if you’re going to take on a complicated older fast wagon, there must be some sort of reward for all the risk, right?
Well, not to be outdone, here’s a stellar BMW option. The standard 325xi Touring, while available with a 5-speed manual, isn’t nearly as exotic sounding or performing as the duo from the other day. The M54 2.5 liter inline-6 was about 100 horsepower down on the Passat W8 and they weighed pretty close to the same. BMW also chose to not equip any of the xi models with the M-Sport suspension, either. While the 3-series was substantially cheaper than either the A4 2.0T S-Line Titanium package or the Passat W8 4Motion, out of the box it also didn’t feel as special.
Of course, if you rip it apart and rebuild it with a S54 borrowed from a M3 and a 6-speed from a X3, the story changes a bit…
Let’s say you want to start a car collection, and for ease of argument’s sake, let’s say you’re really into BMWs. Which is the model you want? You could be a 507 enthusiast, love the classic 3.0 CSL or 2002, envy every E30 or lust over the modern muscle the company produces. But odds are if you’re reading these pages you, like me, gravitate towards BMW’s Motorsport models.
Within the Pantheon of classic models, there then comes the difficult decisions. How do you choose between the E30 M3 and the 1M, for example? Well, Enthusiast Auto Group has a suggestion. Why not have them both? Or, even better, why not assemble all of the greatest hits from BMW’s M division over the past 40 years and put them together into one curated, turn-key package?
Update 10/15/18: This M3 Convertible sold for $22,100.
Like yesterday’s base 944, the M3 Convertible isn’t a car I spend a lot of time on. However, the recipe is hard to argue with; you get the beautiful lines of the E46 mated to the sonorous S54 with limitless sky over your head at the touch of a button. When this car was new, it was the fastest production 4-seat convertible available, though at nearly $60,000 it was hardly cheap. Fast forward to today, and it’s generally become the cheapest way to experience BMW’s gem of a motor in the ultimate development of the naturally aspirated inline-6.
Though I don’t write of them often, I do keep my eye on them from time to time. And today’s particular 2003 is a very special package. Presented in 400 Steel Gray Metallic over N5ZM Cinnamon leather, visually this car is quite a looker. Inside you’ll find a 6-speed manual, too, and a scant 34,866 miles on the odometer. Oh, and the auction is no reserve, too:
I mentioned yesterday I’d look at a M3, and here it is. There were some 26,202 E46 M3 Coupes to choose from when considering the model. So, often sellers and buyers are looking for something special to help differentiate their M3. Usually that manifests itself in color, miles or mods, but today’s example is quite unusual. Official production started rolling in early in 2001, but today’s M3 is claimed produced in June of 2000, making it a pre-production example of the legendary coupe. There seems to be good documentation to back up the claims that are made, along with a very unusual-to-see set of options. So is this the one to get?
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…
Let’s pretend for a second that you’ve been living under a rock for the past few years. Welcome back! Donald Trump is President of the United States, the Cubbies won the World Series and Kanye West has alienated the 50% of America that you wouldn’t have expected him to. A Castro is no longer in charge in Cuba, Facebook sells your information to make money and if Bill Cosby offers you a Jello pudding pop, I’d be suspicious.
While we’re on recent trends, have you checked out the pricing on Z3 Ms lately?
What used to be the cheapest foray into one of the most polarizing designs offered by BMW in modern times has become a cult classic and increasingly expensive, especially in Coupe form. But select the right options on a Roadster, and the price will still shock you. Take today’s, for example. Produced in August 2001, it’s a later example and that means something special is under the hood. That’s right, it’s a S54 cranking out 321 horsepower. Only ~1,600 were produced with that motor for North America, so that makes it pretty special. More special is the color; in total, only 39 E36/7 M Roadsters were specified in Phoenix Yellow Metallic. This is one of fourteen PYM/Black Nappa produced for 2001. As if that wasn’t outstanding enough, this particular M Roadster has turned only 19,760 miles since new. Guesses on the price?
So guess what caught my eye here? No surprise, if it’s a yellow M3, I’ll bite. This one grabbed my attention first because of the hue, then the price – just under $14,000 on a no reserve auction? Well, it must have a million miles rig….nope, not here. So it MUST be an SMG then, right? NO ONE wants a SMG because the moment you buy one they will murder you in your sleep and kick your dog and shut down the government (*according to actual internet comments I’ve seen). But nope, it’s a 6-speed manual.
But the more I looked at it, the more questions were raised. Why was no one bidding on this slick E46?
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: