Sure, all the cool kids drive rad-era cars now, but it’s not getting any cheaper for any of us: Gooding & Company just sold a 1988 BMW M3 for $151,200.
One of BMW’s most sought-after, motor sports-derived models, this 1988 #BMW #M3 has #SOLD well over its high estimate for a solid $151,200! #AmeliaIslandAuction #GoodingAmelia #Rudyfied pic.twitter.com/GdptO2ocTI
— Gooding & …
I can't say I'm too surprised by the result, but I find it interesting it sold well over what Good & Company expected it to sell for.
I'd say it's a case of having the means and wanting what you want.
Did car people by this or did speculators buy this....
David S. Wallens said:
QFT
Was it a US spec car, or maybe one of the european evo 1/2/3 cars? They go for a lot more money.
Have you seen the restomod e30 M3 being sold by Redux in the UK? They are having the cars built by Retropower, and are sort of an optimized version with lots of carbon fiber body panels, etc. You can see a video of it on the Retropower YouTube channel. They sell for around half a million dollars.
In reply to stuart in mn :
Pretty sure it was a US spec car with 56k miles.
Noddaz said:Did car people by this or did speculators buy this....
Not sure there is any room left to speculate anything there ...
Dad had one new back in '87. One of the first in the Midwest, in Alpine White. I was 16, and drove it like a typical jerk whenever I could. It was firm, had a deep rumble you could hear a block away, and wasn't very fast unless you really wound it out. My dad used to hunt down Mustang 5.0s on the highway, challenge them, and drop it into 3rd gear to race.
They never sold well back in the day. They never even made the cover of car magazines. Americans didn't appreciate the racing purpose behind them, and despite their boy-racer looks with flares and spoilers, their (excellent) engines were de-tuned enough for common consumption to not offer much of an advantage over the contemporaneous 325i with the larger, smoother 2.5L 6 cylinder m20 engine.
Nader said:Dad had one new back in '87. One of the first in the Midwest, in Alpine White. I was 16, and drove it like a typical jerk whenever I could. It was firm, had a deep rumble you could hear a block away, and wasn't very fast unless you really wound it out. My dad used to hunt down Mustang 5.0s on the highway, challenge them, and drop it into 3rd gear to race.
They never sold well back in the day. They never even made the cover of car magazines. Americans didn't appreciate the racing purpose behind them, and despite their boy-racer looks with flares and spoilers, their (excellent) engines were de-tuned enough for common consumption to not offer much of an advantage over the contemporaneous 325i with the larger, smoother 2.5L 6 cylinder m20 engine.
More proof that Americans are idiots.
In reply to maj75 (Forum Supporter) :
A lot of now-famous cars didn't sell well at the dealership. See also: M3 LTW, M coupe, Cobra, DeLorean. I know, right?
I remember when I was about 18 so 1998 or so seeing these in a "10 best cars under 10,000$!" Article in road and track or automobile or something.
In reply to joey48442 :
I bought mine in 1994 for $9995 from a Saab dealer.
In reply to akylekoz :
Nice.
Also, I was a freshman in 1988. A classmate once dropped me off at my dorm in one!
I had a pair of Chuck Taylors.
Almost bought a 1988 or 1989 M3 in the mid 90's during the fall in upstate NY for $5900. Had 75k. Miles on it and no winter miles. I did buy a nice running and driving 1970 911T a few years after I missed the BMW. $3200, part of a divorce deal. Those were the days.
I'm selling one of mine. No rust or accident damage. Alpha-N conversion, Schrick cams, and fresh engine full of BMW Motorsports parts. Factory Gruppe N suspension (springs and custom-valved Bilsteins).
LanEvo said:I'm selling one of mine. No rust or accident damage. Alpha-N conversion, Schrick cams, and fresh engine full of BMW Motorsports parts. Factory Gruppe N suspension (springs and custom-valved Bilsteins).
Based on the auction result leading off this thread, that should be a $150k car. Not kidding.
And I sold my 1988 M3 with 101K miles on it for $12K in 2003. 
dyintorace said:And I sold my 1988 M3 with 101K miles on it for $12K in 2003.
And I passed on a e30m3 with rear fender damage for 15k in 2009 for 15k. So guess we even?
LanEvo said:I'm selling one of mine. No rust or accident damage. Alpha-N conversion, Schrick cams, and fresh engine full of BMW Motorsports parts. Factory Gruppe N suspension (springs and custom-valved Bilsteins).
She's got no roundel!
In reply to Spearfishin :
Fresh roundels and M3 badges went on after the detail.
In reply to dyintorace :
I'm asking $65k ... which seems pretty reasonable to me for a clean (no rust, no accidents) example. Even the windshield is original, which is unusual these days as they cracked easily. Oh, and it's got some Evo I bits, like the carbon under tray/splitter.
LanEvo said:In reply to Spearfishin :
Fresh roundels and M3 badges went on after the detail.
I assumed, was just making a funny. Looks great.
In reply to LanEvo :
$65K for that car seems reasonable.
I'm also in the "kicking myself for not buying one 20 years ago when decent drivers were $10K" camp... except 20 years ago, $10K was a lot of money to me. Today somewhat less so...
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