E30 M3 prices are my biggest automotive ick

60% want the CTS-V, and despite the age, I agree. Today, I reveal myself to you (not like that). I’m going to tell you my biggest automotive ick – spending a ridiculous amount of money on a car that doesn’t deserve it. The king of this? The E30 M3.

There. I said it.

Six figures for a box with wheels

See the 1988 M3 here

See the 1990 M3 here

I was in my E92 M3 driving in Staten Island, of all places. Nice day. Windows down. I pull up to a red light, and surprise, it’s a bright red E30 M3.

This thing was mint.

My rule for anyone in any M3 is this; we’re automatically friends. Sorry, that’s just how it is. I’ll flash you (which means something different if Mrs. Machines did it), or wave, or in this case, since the windows were open and we were stopped, I’ll say hi. So I did.

Normally I never ask what someone pays because it’s rude, but this thing was so clean, and I knew the market at the time had really taken off, so I asked.

He looked away sheepishly, then turned back and said a number I’ll never forget…

$100,000.

At the time you could have bought two E92s and had money left over to supercharge them both.

“Why don’t you like the original E30 M3? Hate this blog.”

I never said that. But I sure don’t like it for the price of about 100 other really nice cars.

What is an E30 M3 worth?

We’ll cover the “whys” of the negative points of an E30 in a future review, but for now let’s call out that a 325i had a better engine with more cylinders and wasn’t much slower. BMW almost didn’t make another M3 because of this car.

To find out what the car is worth, don’t bother with Cars & Bids, which has but a few questionable examples. Instead, check Bring a Trailer. Lots of things above $80,000 on that chart.

“Ohh Mike, I see ones for $48,000! Ur a lyar!”

Listen, if you want to spend nearly $50,000 for a car with 200,000 miles and a buzzy four-cylinder, you do you.

Clearly, any newer M3 is within your grasp at this price point, and I’d rather see you spend $80k on a nice E46 or E92 than one of these. At least you’ll have fun.

And by the way, there’s always at least one for sale at auction. Stop calling them rare – you can buy one 365 days a year.

The 1988 and 1990 BMW E30 M3s

So then, onto what’s available now. First, the ’88 model:

• 139,800 miles
• Bid to $30k so far
• Diamond Black Metallic, supposedly. The paint is so faded and peeled, it might as well be grey.
• Gaps in the service record. Given the investment, no bueno.
• The E30 has an S14 2.3-liter inline-four, with 192 horsepower and 170 lb-ft of torque. You have fun with that.
• Sunroof doesn’t work. Rust underneath. Please.

I’ll stop there. What else can you get for $30k? How about an unmolested 350Z? $15k, and I promise you’ll have more fun. Now, the 1990:

• 49,800 miles
• Diamond Black Metallic. This one at least has an intact clear coat. Not an M stripe fan?
• This is also bid to $30k, but it just opened.
• Minor issues, considering. Tires are old.
• Hooray again for incomplete service history.
• The mods are okay – BBS wheels, exhaust, Turner “chip”…is that like, a Nintendo brain? It would be worth more original.

So here are two examples, one cheap, one bound to end up over $60,000. Would you want one, or take anything else?

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