Would You Buy a BMW E30 M3 For 100 Grand?
This year bringatrailer.com hosted a car sale that breached six figures. On its own, that statement isn’t remarkable. As you all know bring a trailer does that quite often. However, What if I told you that the car that breached six figures was a BMW E30 M3?
Bringatrailer.com was responsible for selling this BMW E30 M3, With 35,000 miles on it at $102,000. Just 4 years ago a similar example netted $58,000. To delve even deeper the original 1989 MSRP for an M3 was $34,950, which is $72,730 in today’s money. So why in just a few years has the value of these vehicles doubled and surpassed the original MSRP?
After all, the original specs list of the E30 M3 is rather lackluster by today’s standards. 192 BHP, 170 lb-ft of torque, 2866 lb’s, 0 – 60 MPH in 6.6 seconds, and some rather cliche boxy 80’s styling. With outdated specs like that is it worth 6 figures? That’s Porsche 911 Money, That’s two corvette stingrays, that’s a new BMW M3 plus a Toyota Camry. So why would anyone pay over $100,000 for a BMW out of the 80’s?
Because the E30 M3 is a purist driving experience, it’s racing heritage, and It’s one of the most iconic vehicles to ever apply power to the pavement. On paper, it may seem unremarkable, but when you’re in the driver seat it is anything but. Built under the pretense of homologation for Group A racing, the M3 was truly a racecar with few luxuries. The S14 powerplant, the improved chassis design, and the M badge all contribute to its iconic view. It was one of the first of its kind.
Even by today’s standards, the E30 M3 is often considered one of the best handling road cars. M cars are known for winning road races because of their pristine balance, and wonderful power application. These were the background poster cars of many peoples childhoods. The car that would sit next to the Porsche poster. The car that was similar to the E30 your neighbor might drive, but just different enough to blow your mind. I believe these are the reasons for the sudden appreciation of these cars. That and the average Beamer(or Bimmer for the uneducated) enthusiasts has more money than they know what to do with.
With all of that history backing it, it is no wonder why the E30 is becoming a collectors car. That and most of the 18,000 produced were more than likely poorly maintained. So to find a clean one like what just sold with only 35,000 miles on it is becoming increasingly rare. Do I think that $100,000 Is too much? Yes, I do, but it wasn’t my purchase. If you have an 80’s M3 on hand right now, I recommend that you sit on it for the next few years. My guess is that these cars have a lot more appreciating to do.
Do you agree or disagree with my use of Beamer? If you think I should start using the proper spelling give me a comment down below.