This Pristine 1989 BMW M3 Sport Evolution Is the Ultimate E30

[McLaren]

I certainly understand the appeal of it, it's a car I've always liked a lot... but I don't think they're worth 200k, at least not for another 15-20 years. Just as I don't believe the original NSX is worth 120k, or any 930/964 that's not a Turbo or any other special model is worth anything more than 20k. It's a strange bubble we're in right now.

The inflated price seems more to do with the restoration than anything I'd imagine. I'm not sure what the car looked like prior to the dealer getting their hands on it. But with the previous owner having it for 18 years, chances are they drove it enough for it to at least have some wear and tear.

Pricing is a bit high to cover restoration costs, but that is where the market is for the Evolution models. Auto Salon has one listed at $184,000 and another dealer in Germany I believe, is listing at $208,000 that also underwent restoration in 2016 and has lower mileage. In the states, there's an Evo II for $130,000, and an Evo I for $165,000. You have to remember, they're relying on the limited number of these models to build asking prices.

If you really did want a well-maintained, clean E30 M3 of any variety, you're looking at $75-$90,000. There's one for $53,000, but that's the lowest I've seen and she's got double the mileage most of these 60-80,000 mileage examples are asking for. Seems to be the current market just to get into them, but a lot of owners are holding on to them, too. There's not a very large selection of them anymore to browse between.

 

[eiriksmil]

But it's not "fool theory" to think that about a house, or stocks, or gold, or bitcoin? Or is it just that you think that it's impossible to own an appreciating asset? There are some cars, and some houses, and some stocks (especially stock funds) even, that you know are going up in value. Sure maybe you have trouble forecasting the price over the short term, but over a timespan of say... 10 years... you know they'll be worth more than they are today. Almost without question. Not everything is a depreciating asset.

Sorry for my late reply, I was more or less working the whole week.. Of course you can own an appreciating asset.. I for instance like buying cars that are future classics because they will appreciate somewhat to atleast offset the ownership costs so it funds my hobby. I don't expect the value to reach astronomical levels though.

It's fool theory if you buy something at a price you believe may be too high, but you justify it by telling yourself that there is always someone else who will pay a higher price. Sometimes that's not the case, and you pick up the tab for everyone else's gain. Regardless whether it's something traded at the spot market or say housing or classic cars.

If the classic car market plummets (prices seem to have hit the ceiling some years ago) and say in 2040 gasoline powered cars are banned from driving around in urban areas and cities, I have trouble seeing how the market will ever hit 2015 levels again. Just the way I'm sceptical about oil prices hitting bull market 2008 and 2014 levels again (hyped up then crashed because of over supply) because atleast the way it looks now, that's not part of our future and alas, the demand will just not be there.

Or I'm dead wrong, the target oil price should be $200 and BMW M3s of 80s vintage will fetch $500k in not too distant future. Having said that, if someone has the Google powers and/or the time to figure out what the Sport Evo was new and what the cars sold for sometime in the late 90s and mid 2000s, we could always adjust that for inflation and see if the $200k price point is justified. I ran some numbers on the Golf Mk2 G60 Limited which will command around €50k (and which may seem insane). It will cost you the same amount now as it did new in 1991, adjusted for inflation.

 

[Danoff]

Sorry for my late reply, I was more or less working the whole week.. Of course you can own an appreciating asset.. I for instance like buying cars that are future classics because they will appreciate somewhat to atleast offset the ownership costs so it funds my hobby. I don't expect the value to reach astronomical levels though.

It's fool theory if you buy something at a price you believe may be too high, but you justify it by telling yourself that there is always someone else who will pay a higher price. Sometimes that's not the case, and you pick up the tab for everyone else's gain. Regardless whether it's something traded at the spot market or say housing or classic cars.

If the classic car market plummets (prices seem to have hit the ceiling some years ago) and say in 2040 gasoline powered cars are banned from driving around in urban areas and cities, I have trouble seeing how the market will ever hit 2015 levels again. Just the way I'm sceptical about oil prices hitting bull market 2008 and 2014 levels again (hyped up then crashed because of over supply) because atleast the way it looks now, that's not part of our future and alas, the demand will just not be there.

Or I'm dead wrong, the target oil price should be $200 and BMW M3s of 80s vintage will fetch $500k in not too distant future. Having said that, if someone has the Google powers and/or the time to figure out what the Sport Evo was new and what the cars sold for sometime in the late 90s and mid 2000s, we could always adjust that for inflation and see if the $200k price point is justified. I ran some numbers on the Golf Mk2 G60 Limited which will command around €50k (and which may seem insane). It will cost you the same amount now as it did new in 1991, adjusted for inflation.

The gasoline thing, and especially the existence of gas stations which seems more and more tenuous, will probably make some car values tank. The best of the best in terms of collectible cars will remain valuable though, and people will go to lengths to drive them. I agree that that's a reason not to buy the golf, and why it's important to be picky if you're in the market for an E30 M3.

 

[MatskiMonk]

Having said that, if someone has the Google powers and/or the time to figure out what the Sport Evo was new and what the cars sold for sometime in the late 90s and mid 2000s

New:

E30 M3 was ~60,000 DM
E30 M3 Evo was ~70,000 DM
E30 M3 Sport Evo was ~85,000 DM
E30 M3 Convertible was ~93,000 DM

For Context a 320i was ~34,000DM

I'd have to dig into my archives to get 90's prices, but one thing that is evident from a quick google is that the Sport Evo has gone up in value much more than the Convertible. The difference in the number produced is only ~200 though.

edit: So thumbing through a couple of magazines from around 1998 - 2001, M3's were typically cropping up for between £7,000 and £11,000.. though I've not found an example of a Sport Evo. Buying guides at the time were recommending around £9000-£16,000 for a Sport Evo. As a new car 10 years earlier it would have been about £30,000ish (converted from German Marks)