The M Coupe has moved from cult legend into one of the most desirable M products produced. Late production S54 equipped models have recently topped $90,000 at auction. Add in a rare color and great condition, and they’re all the more desirable. While not quite a 1:1, the M Coupe is like the Porsche 964 and has gone from being ugly duckling to the market darling, 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. Take this 2000 in Dakar Yellow, for example. First off, only 2,180 S52 M Coupes were sold here. Of them, 52 were Dakar Yellow II – so you know this one is special. But even more telling is the number when you consider slicktop models, of which this is one. Just 342 were delivered sans sunroof, and only 14 of those were Dakar. Just ten shared the black Nappa leather seen here. So this one is a very low production number car with interesting options and, in this case, fairly low mileage. What does that mean for the price?
Euro cars always hold a special appreciation for me, especially from the 1970s and 1980s. First off, they were much better looking, generally with slimmer bumpers and larger, more clear class lights. There were colors and interiors that we didn’t get in the U.S. as well, helping to set yourself apart. Sometimes there were low-spec engines not imported, but usually the output of the motors that were similar to U.S. cars was higher, giving more performance to enthusiasts. Sometimes that gulf was huge; while usually around 10% higher, a great example is the Quattro which was a full 25% more powerful in Europe than the U.S. restricted version. But as we got towards the late ’80s, the gap inbetween both the looks and performance of the Euro models versus the U.S. models closed steadily. True, in some cases we still didn’t get the full-fat versions of cars like the M3 until the E46 chassis. But for most models, there was a negligible difference. When it came to the BMW E31, in fact, there were almost no differences between the U.S. models and European models; styling was exactly the same, as were the wheels, most of the colors and interiors, and the basic suspension and engine. So, it’s just not nearly as exciting to see a European-spec newer model like this ’91 850i pop up for sale, though it is a bit odd:
A familiar face popped into my usual searches this week. It was a 2001 BMW M3 in Laguna Seca Blue. What stood out immediately were the wheels (okay, and the color); BBS CH and near faultless condition throughout pointed towards the example I looked at twice in 2014. Three years later, it’s still for sale and though the price has dropped, the seller is still looking for the best part of $60,000.
In the future, that price may not seem quite that outrageous. After all, finding a perfect condition, 10,000 mile M3 in one of the two signature colors isn’t something you come across everyday, right?
As I’ve said before, I usually try to stay away from regurgitation of material. However, there were a few reasons to look at this European specification M3 one more time.
I’ve recently featured a string of Canadian Edition E36 M3s with some sticker shock for fans of the traditionally affordable chassis. The first was a Hellrot model in August with a $35,000 asking price. That car, to my knowledge, failed to trade hands because though it was actively bid upon, the reserve was never lifted in the mid 20K range. The next stunner was the Individual Giallo car in September, which broke predictions at the $65,000 mark. I looked at another Dakar model in November hoping to capitalize on those high asks, with a reported sticker price close to $30,000. It, too, failed to break the reserve.
The traditional, and very valid, argument to paying high prices for these cars is that they’re essentially just a stock Euro model with a number attached to them. Why not just import a much cheaper and more plentiful example of those then? To that point I had twice looked at a non-Canadian Edition but European specification ’94.
This Mugello Red model originally came to our site in October, 2014. With about 83,000 miles and in generally good condition, it was certainly a unique and appealing alternative to the normal M3. It popped back up in June of 2016 with a few more miles, poor photography and a little more wear. It was also boldly offered with no reserve, though the auction ended with an “error in the listing”; eBay seller speak for the bidding not heading in the direction they were hoping.
Well, here it is again. This time, it is listed by the same seller as the Giallo car. It’s been cleaned up and has some great photography. Only a few thousand miles have been added since we originally listed the car. However, small items like the broken headlight haven’t been rectified. No additional maintenance is disclosed. It’s also interesting to me that the seller doesn’t note this as a rare “slicktop” no sunroof car – appealing to some. The photography and polish will cost you, as the asking price is nearly $23,000 this time around. That’s about what the similar mileage, similar specification Hellrot car bid to. Is it worth that much of a premium?
The below post originally appeared on our site October 12, 2014:
The search for what I’d consider to be the ideal M3 continues; my bank account may not reflect it, but I’m one year closer to E46 ownership – at least, in theory. And for those of you who follow my posts, that means my pool of candidates is reduced to something in a shouty color. So when this BMW Individual Dakar Yellow M3 popped up, it seemed to fit the criteria of cars I’d drool over – but at the same time, it looked familiar. Sure enough, last May I wrote this very car up. It’s pretty unique outside of the special shade, as a “slicktop” with no sunroof and with very low miles (less than 500 accrued since last May), this is a neat package. I like, too, that the seller has lowered the price to $28,500 and fitted some ZCP BBS wheels instead of the expensive but ugly (in my opinion) HRE wheels featured last time around. There are even better photos showing how vibrant the color is. The drawback? For me, still the SMG transmission is the one item that is the deal-breaker. Otherwise, though, this is one cool package!
The below post originally appeared on our site May 21, 2014: