The guys at Carscoop found this immaculate 1988 BMW M3 for sale on eBizautos. From the pics, it may be the cleanest example remaining that wasn’t shipped off to a temperature and humidity controlled museum. It looks to be silver with a red interior, and it’s only got about 47,000 miles on the clock. It’s a great buy at $15,000, and still a decent investment at $20,000. The problem? The seller has it listed at $32,500, which goes beyond “wildly optimistic”. If anyone’s interested, I’d be willing to sell my 2004 BMW K1200RS for only $17,500.
The E30 BMW M3s were essentially race cars sold to comply with homologation rules in Group A Touring Car racing. The first generation M3s had a 2.3 liter inline four motor, good for 192 horsepower in U.S. trim. The cars were quick enough for their day, capable of 0 to 60 miles per hour in 6.7 seconds and good for a top speed of 148 miles per hour. Handling was where these cars really excelled, and I’ve yet to meet an owner who didn’t regret parting with his E30 M3.
Nearly 5,000 E30 M3 models were imported to the U.S. between 1986 and 1992, so chances are you can find a clean example with higher mileage for a lot less money. On the other hand, $32,500 is a lot less than you’d spend doing a ground up restoration on one, especially if it needs paint and a new motor. Is the price justified? Maybe for the right buyer.