M5 Prices

[Machtig]

I just bought a very clean US spec M5 (#740), all original save the alarm system, recovered front seats, recent timing chain et al, all service records, probably 9/10 condition overall, 113k miles. I paid $13k. A few months ago the seller had it in Roundel for $16.9k. I found it on autotrader.com listed at $13.9k. I asked if he'd take $13k and he said yes. I think I got a good deal. I'll post photos when I go pick it up next week.

[Rich in Tupelo]

Bought one over the holiday weekend. Good body(normal road rash from 21 years but easily fixed, no rust), good interior (replacement driver seat was done, minor dash crack at front vent, will need a redye). Motor has compression loss in two cylinders (30% in one and 33% in another). Spoke with the shop that had done the work on the car for the past several years. They had boroscoped the engine and did not see any head damage, just in the block. Picked up a known good block with pistons and crank when I got the car. Currently in it for $3,100. Will pull the motor this winter and see what needs to be done in addition to the block. Worse case, source a good used S38.

Car does need other minor odds and ends, but no major items. Figure I will sort the minor stuff out as time and $$ permits this fall.

Car came with a stack of records covering many years. It is a great project car in my opinion.




http://www.cardomain.com/ride/353952/20

[Speedmaster]

and that could have been a shill. It has over 200,000 miles.

Another one is currently at $2500 and it has less than 200,000 miles.

Not bashing but it looks like it supports the argument of high mileage is a significant influencer of price.

[GHasley]

Just picked up a 1 owner e28 M5 with 42,000 miles. They were asking $22,000....I didn't pay that but......

[RonP]

Just picked up a 1 owner e28 M5 with 42,000 miles. They were asking $22,000....I didn't pay that but......

Was that car in your area? Did you run a CarFax on it? I had a client looking at a car in the Desert and he ran a CarFax on it and the car (this year!) had over 90,000 on it. I hope that isn't the same car. If it is, that is fraud!

[GHasley]

Ron, same car and excellent observation. The car was located in Indian Wells, CA and I am local.

The 90k on carfax was incorrect especially in light of the fact that BMW Palm Springs always serviced the car and they worked on it just 2 months prior at 41k miles..hard to cover 50k miles in 2 months with the owner not among the living..I spoke to Paul, the service writer at BMW Palm Springs where I have my cars serviced, he made the mistake and typed a 9 instead of a 4. I have all the receipts so luckily no fraud. If that caused your client to pause, I am ever so grateful as I wouldv'e missed out.

Warm regards,

[wkohler]

I was thinking it was most-likely a typo. Haha. I had a similar thing happen at the emissions testing stations here in Phoenix.

[m-racer]

I closed today on the sale of my 1985 Euro M5. It sold at the asking price of 38.5k. Ron P did a terrific job on the cosmetics and the mechanicals were carefully restored/ improved over the last 3 yrs. of my ownership. The car is going to St. Paul to it's new owner who I am am satisfied will give it the right home. Many thanks for the help and advice I have received from the M5 enthusiasts on this over the yrs. Tim Jones

[funfunfer]

Bought mine in Connecticut for $5k to keep it from going to the crusher as a trade in. Probably should have paid $3k more for a much better car that showed up on CL in Houston the day I got home.

[grbbenny]

Just purchased US version. Approximately 88,000 miles, no accidents, no paintwork, no rust. Highlights include:
-timing chain done
-Euro headlights
-SLS delete with Bilstein Sports and MTechnic springs
-Fahey crank hub and cam gear
-New radiator, water pump, etc.
-Dinan chip
-New windshield, leather dash and door caps
-Rear sun blind
-Euro headers and Fahey track pipe

Car sound familiar to anyone?

$22K

[cfalco]

I bought mine in Feb of '08. Paid $9,000 with 167,000 miles. After driving my '88 528e for 9 years and 115,000 miles and always wishing for a bit more power/handling was in the market for a Boxster s when I saw an ad for the m5 only 40 miles away in Huntington Beach. I drove it, loved it, went back the next day and bought it. It replaced the 528e as my daily driver and now has 183,000 miles. I have spent around $5,000 on : diff mount, valve adj,tune up, new front end, new a/c system, fuel pump, trunk and tail light seals, Dinan chip and cam sprocket, window tint,tires, and a set of the original bbs wheels to replace the Fittipaldis. The car was originally purchased in Orange County and spent it's whole 21 years in So Cal. I'm still enjoying the car and plan to have the seats redone eventually. Additionally, it has the complete tool kit - even the blue snot rag.

[funfunfer]

BTW,
That car I missed in Houston turns out to be a Black on Black US Spec model in great shape. "Well bought" as they say on the car auction broadcasts!

Good job, Jose!

[1st 5er]

BTW,
That car I missed in Houston turns out to be a Black on Black US Spec model in great shape. "Well bought" as they say on the car auction broadcasts!

Good job, Jose!

Yes, a beautiful example, at an even better price.

Here's hoping he'll find this thread and post pics and details.

[MShimon]

I don't think I ever contributed to this thread. I purchased my M5 in PA around July 2007 for $9,100 sight unseen on ebay. As far as I'm concerned I rescued it and it hasn't let me down once.

[jamestr]

Just purchased US version. Approximately 88,000 miles, no accidents, no paintwork, no rust. Highlights include:
-timing chain done
-Euro headlights
-SLS delete with Bilstein Sports and MTechnic springs
-Fahey crank hub and cam gear
-New radiator, water pump, etc.
-Dinan chip
-New windshield, leather dash and door caps
-Rear sun blind
-Euro headers and Fahey track pipe

Car sound familiar to anyone?

$22K

Yes, indeed. I was lucky enough to do the pre-purchase inspection on this car and it is the nicest example I've ever seen. Drive's like a brand new car! Nice buy Graham.

[junkyard_sal]

Just purchased US version. Approximately 88,000 miles, no accidents, no paintwork, no rust. Highlights include:
-timing chain done
-Euro headlights
-SLS delete with Bilstein Sports and MTechnic springs
-Fahey crank hub and cam gear
-New radiator, water pump, etc.
-Dinan chip
-New windshield, leather dash and door caps
-Rear sun blind
-Euro headers and Fahey track pipe

Car sound familiar to anyone?

$22K

Yes, indeed. I was lucky enough to do the pre-purchase inspection on this car and it is the nicest example I've ever seen. Drive's like a brand new car! Nice buy Graham.

I was a day late on buying this car. Well bought. Congratulations.

[Cory]

Just bought Mike's for $14,000 plus shipping. It's quite stellar with 164,000+ miles. I've checked out several, but just didn't get a warm fuzzy even though they all had less mileage; much less in some cases.
This one's already set up exactly how I'd like it thereby saving lots of dollars. The maintenance record is spectacular.
Generally stock with Koni's up front, Dinan Cam Gear and software, BBS RX's/Bridgestone RE050A PP's, Nak CD-400/Blaupunkt speakers on the rear deck, Optima red top battery, alternator bushings and all maintenance up-to-date/Castrol GTX 20W50.
The only discrepancies are a potential AC problem, a door lock issue and a leaky trunk gasket. I'll be replacing the air filter and fuel filter and taking a look at the distr. cap/rotor/wires, gear fluids and brakes.
I couldn't ask for more cosmetically both inside and out. I'm grateful for the find and might have it in about a week or so.

Just a quick update:
The following happened recently just to get 100% sorted out:
- air filter
- Bilsteins/Dinan Springs (rear only) - shocks supplied by Mike
- rebuild front brakes/flush system
- right side engine mount
- rear subframe mounts
- fuel filter
- distributor cap/rotor/wires - not really necessary, but supplied by Mike
- full body lube (got rid of 95% of the creaks)
- clutch/resurface flywheel/pilot bearing
- transmission bolt something or other
- trunk gasket refit
- exhaust fixed up a bit
- valve cover & rear head cover gaskets
- transmission and rear differential fluid
- AC - I never use it so I'll just leave that alone
- door lock issue was resolved by cleaning a connection under a panel by the driver's left foot
- Valvoline VR1 20W50 Racing Oil
- Bridgestone RE760's - eventually, but not for awhile
- Fahey Crank Hub - maybe/maybe not

[KRsM5]

Paid $6,800 for mine in late '07 with just over 150K miles on it. Body 8/10, engine 8.5/10, interior 6.5/10 (wear & tear - bolster/e-brake handle, dash cracks). I love the car every time I think of it still, tho I've dumped a bit of cash into it (which was expected). I've learned a lot about minor fixes, wished I had the time/space/skill for more major fixes, wonder 'what's next' every time I drive it...BUT my heart still sings every time I get a chance to dip into the power. The sound of that engine, the exhaust, the occasional thumbs-up from another admirer, even the smells...think of the Rush song Red Barchetta:
shifting and drifting/mechanical music/adrenaline surge...well-weathered leather/hot metal and oil (sure, you'll get no "sunlight on chrome" with these beauties

[bibaboon]

Hello..
Does repainting a faded M5 or any e28 for that matter bring the value down on whats it worth? Just curious thoughts on subject?

Best
Walter

[KRsM5]

I haven't heard good stories about resprays. Surely it could affect value but very few of these are concours-quality cars and I imagine the ones that are, would've had to gotten a really good (sheetmetal off) repaint job. Seems like there's so few e28 M5s out there in the offing, so a lot will depend on how desperate the buyers are in the area it's offered and the timing of when a car goes up for sale. You can see from this thread that pricing varies wildly.

Wondering if, in another 10, 20, 30 years, we'll see these things up on auction at a Mecum or BJ auction. By then, there will surely only be a handful left in pristine condition. (mine will not be one of them!)

[junkyard_sal]

Wondering if, in another 10, 20, 30 years, we'll see these things up on auction at a Mecum or BJ auction. By then, there will surely only be a handful left in pristine condition. (mine will not be one of them!)

Just my $0.02

But it seems like e28 m5 owners have been waiting for the collector car prices of over a decade. I think in the end it will come down to the value will largely be held in a few low mileage cars. GeorgeH told me when I was considering his car that the value of an e28 m5 is and always will be a function of miles.

These cars re not like e30 m3's. They don't have a racing heritage, they were Q-ships. Other than Detroit muscle cars I am hard pressed to think of a car like the e28 m5 that has soared in value.

[Tucker]

I wouldn't count on anything with an internal combustion engine being worth heaps of money in another 30 years, especially 80's sedans that are slower than a new Camry. These cars certainly aren't investments. On the topic of resprays, if done properly on a sound car I don't think it should affect the value. A well-done fresh coat of paint will always look better then faded 20 year old paint that's been buffed to the primer and is full of chips. Our cars aren't old enough for stuff like that to be called "patina."

[gray635]

After selling my M5 to Cory (see post above re: that sale), I found that I missed the car so much I started looking around for a low-mileage replacement. I found such a car in Geoff Hasley's (ghasley on the board) 44K M5 - which I purchased for $27,500. The car was never advertised for sale publicly and this sale/purchase came about because of our mutual involvement on the board and shared interest in these cars. Geoff had a chance to acquire a true "trophy car" and, in order to make that happen, needed to free up some garage space. Hence, the sale of this outstanding example to me!

I acknowledge that this is a lot of money for a 22 year old car. However, as you know, it is getting increasingly difficult to find these cars with low mileage and a well-documented service history - and typically the folks who own such cars are not interested in selling them.

A few specifics on this car:

44K original miles - 100% documented
No wreck/repair/repaint history
All original paint in outstanding condition - front spoiler does show some wear, however, which is to be expected
All exterior shadowline trim in outstanding condition
Interior in excellent shape - front seats recovered by Jim's Auto Upholstery in San Diego, CA
Car purchased by Geoff 9/09 from the estate of the original owner at approx. 42.5K
Complete service history from the date of original sale - the car appears to be completely sorted mechanically with no current service or repair requirements
Engine bay completely detailed - better than showroom condition
Totally stock condition (down to the fully functional SLS system and radio) with exception of recently installed Jim Conforti chip

The car is pretty well known on the board. For some additional detail and photos, check out Chris Keefer with LaJolla Independent's blog entry re: this car at www.bimmerdoc.com

[prizefighter]

Sold the car listed here

http://www.mye28.com/viewtopic.php?t=70584&highlight=

for $8500 to a local guy.

[1 OF 30 M5]

Bought my car in October '09, this car was located in Tomball, TX. It was originally advertised on Craigslist for $7000.00. Yes, this is the black-on-black, US Spec with the Hartge wheels.
I knew this car existed but had never actually seen one with black interior. Nevertheless get to own it. When I went over to look at the car it was sitting in storage, no need to hear or test drive, it was love at first sight Once I bought it, I had it checked with the dealership and they confirmed it was in fact 1 of 30 black-on-black. Work done to it:

Replaced clutch, All fluids, Window gaskets other than that the car runs and drives beautiful.
I feel like the luckiest dog in the world!!

[edlocke]

http://bmwmregistry.com/detail.php?id=8025
Since buying my M5 last Christmas I can only say I wish I would have bought one long ago. I'm very pleased with mine. I paid 10,400.00 with 117,000 miles that are documented thru carfax. I have some history but the records are slim.....this I wish were more complete but then again I think this is why I got the car for 10k instead of 15k. The paint still shines deep, absolutely no rust, interior is wonderful and even better now with new recovered leather front seats. Its a stocker including original radio/CD pack in the trunk. Compression reads like new across all pumps. Tranny in 1st gear has the normal sing and you can hear the road near by, all the things that remind you that you're in an older car but it just FITS....I love starting that car, I love going thru the gears......I just don't have the heart to drive it everyday. Sunny dry days have been few in NC lately......I look forward to spring and driving in the country side. I love railroad tracks....they tell you a lot of the condition of the suspension.......my M5 feels like new....its solid.
I'm doing little things here and there but the car is turn key....everything works on it. It has a little ding in the trunk lip and the gas cover but that will be fixed very soon. I have Eibach front springs and Dinan rear springs. I'm looking to Chip and probably go with a cat back, other than that.....I'm driven baby.....!
PS, I also have my Aplina wheels on it now that I had refurbished over the winter.

[1st 5er]

Bought my car in October '09, this car was located in Tomball, TX. It was originally advertised on Craigslist for $7000.00. Yes, this is the black-on-black, US Spec with the Hartge wheels.
I knew this car existed but had never actually seen one with black interior. Nevertheless get to own it. When I went over to look at the car it was sitting in storage, no need to hear or test drive, it was love at first sight Once I bought it, I had it checked with the dealership and they confirmed it was in fact 1 of 30 black-on-black. Work done to it:

Replaced clutch, All fluids, Window gaskets other than that the car runs and drives beautiful.
I feel like the luckiest dog in the world!!

Hey Louis,
Found this - http://www.bmwmregistry.com/detail.php?id=7752

Very nicely done...

[1sickm5]

Sold my '88 M5 with 27K original miles for $18k in 2007 - I miss my car!

[BlackKnight]

Bought my (almost bone stock) M5 in 1999 with 87k miles on it and paid $14,000.00. Now, 10 years later, I just rolled over 200K. It looks as good as it did the day I bought it and the drive train still cranks out the horsepower.

In fact, last weekend I went on a "fun run" with the local BMW CCA chapter and a couple of guys with much newer BMWs told me they couldn't keep up with me. I don't know if they realized how much that fed my ego!

Anyway, I was looking for just this sort of information as my M5 will be up for sale soon. It will be hard to let go, but other priorities have crept in and I just don't have the time and attention to put into it anymore. I've kept it as original as possible right down to the water hose clamps with the BMW roundel. I just need to find it a good home for a reasonable price.

[bdog]

Bought mine in 1997 (I think) for $16,000. I was a Jr. mechanic at the time working at a local Autohauz. I was originally looking for my first "Awesome car" and that I decided was an Audi Ur-S4. Well a customer came in with their E28 M5, test drove it and well that was that, search changed to this rig. Took 2 years to find an example I was comfortable getting a loan to buy. I (we) checked out many but insisted a through inspection by our shops top tech, a Swiss guy who knew this model very well. He insisted that after purchase, I wasent allowed to drive it anywhere until he replaced all the timing chain, rails, ect components. He was suprised it had a dual chain (ya I learned the difference between the M88 & S38, so did he). His labor rate doing the work after shop hours was fantastic so I asked what other preventitive work he could do. With him as the lead and me the grunt, we yanked the tranny, dropped the crankshaft and pistons. Changed the bearings and rings. Tossed in a clutch while everything was out. Had the driveshaft rebuilt while out too. This refresh at 100k would've cost a regular mark thousands. Since then I've replaced every wearable item on the car at least once and before it failed or had an issue. I put as much love and care into it as possible as that was my craft and passion. Well I graduated school and became an enginner with AT&T. Dailey commute was nearly 100 miles with my preferred route. Drove the M5 dailey with joy. Kept my desire to keep the car as perfict as possible. This wasent hard as now I was making real money and kept shop access/relations from my old shop, shop prices on parts, and mostly pride in my ride. It's been a great car and will continue to be if I have anything to do with it. I rambiling now but my point is allot of owners of these cars our obsessed with their care, I know I was. Buying a regularly maintaned car vs a obsessivly maintained means more than problems addressed, it also speaks volumes to how the car was treated outside of a mileage number or repair reciepts. Rare sports cars are tough to find in good shape because well, they are "sports cars" and driven as sutch. Especilly the price on these being so high, the owners were not mechanics, rather wealthy persons who could afford it and used it, often hard.
My $0.02 & food for though I hope.
Cheers all,
Brian

[mooseheadm5]

Paid $7500 for my first beater M5 in 2001. Paid ~$2500 for the CarBQ M5.

bdog,
You should use Firefox. It will catch all of your (plentiful) spelling mistakes.

[bdog]

Ya spell check....I'm doing this stuff off my iPhone. It allows me to kinda exist on the internot while staying outta the main house. So sorry for the grammer & spelling errors all. F7 not as easy but missed.

[tomQ]

[quote="mooseheadm5"]Paid $7500 for my first beater M5 in 2001. Paid ~$2500 for the CarBQ M5.

Just paid 5k for an 86 M5 Euro here in Panama, the only one ever sold at the dealership. 40,000 kilometers, super strong, no air, no fuel gooahj, seat recliners broken, SLS works.

[Mab1957]

I purchased WBSDC9037J2791912 for 9,500 USD on Friday. The car has 155k miles on the odometer. It remains a stock vehicle including the cassette audio system, Self Levelling Suspension, and cross-weave wheels. Early ownership records are not available but I'm, at a minimum, the fourth owner, Jeff Tripp (NH) and James Phelps (NJ) were previous owners. Sports Cars International of Ft. Lee NJ sold the car to James in 1998 with 94k. The first CarFax database record was a 1994 lien at 51,005 mi in Westport, CT.

It was a fabulous drive to McLean, VA from Manchester, NH. The E28 M5 remains a wonderful sports car at 23 yrs of age.

Matt Bowen

[KRsM5]

Congrats Mab - hope you love it! Hope I see ya on the road sometime (I'm in NoVA too).

[KatoM5]

Hey Matt,

Sounds like you are quite happy with your purchase. I am as well with mine from Guido. Would like to hear more about your experiences with the car so far. I will pm or email you. Thanks again for your input on my car.

Greg

[1stm5nut]

i bought mine w116k on the clock, only issue was a cap over cracked dash, and slight crazing on the horizonal paint surfaces.paid 12.5k ten years ago.
the paint is still original, and is getting extremely thin on the horizontals. i have over the years simply done whatever the car needs when it needs it.
mechanically perfect. interiour8 hoizontals3 sides and trim8.
when i bought it all i knew was how to change oil.
possibly the best part of owning this car has been the mechanic skill journey, brakes, alt, st pump, oil pump, timing chain job, new dash,shocks, bushings, you guys know all the jobs we do. it makes the ride that much sweeter.

[Nater]

Been chasing the dream and am gaining traction. Saw the M5 this weekend whose owner I've been communicating with for a couple months.

260k miles on the chassis, 30k on rebuilt engine w/ new clutch.
Dinan chip, cam sprocket, stage 1 suspension w/ SLS delete.
Has the wiggle under high-speed braking, so I need to get the rotors and UCA bushings checked (thanks forums!)

Exterior is very straight, a few chips and one small spot of clearcoat deterioration, along with a little wavy rear bumper trim.

Interior is where it really shows its age and mileage:
-Has a dash cover that doesn't look that bad, but isn't ideal, and old seat covers hiding the standard wear.
-Worn e-brake, but new shifter and boot.
-Steering wheel is quite worn too, but will be looking for a quality cover.
-One M insert in back seats has lost the blue and red.
-Most, but not quite all, seat position buttons work, as well as seat warmers and windows
-Brand new A/C conversion

Asking $12k, which I'm ready to spend if the inspection goes well this week. The pull of the S38 is just too damn addicting.

[Rich Euro M5]

Exterior is very straight, a few chips and one small spot of clearcoat deterioration, along with a little wavy rear bumper trim.

I'd be asking questions about when the car was resprayed and why if there is clearcoat deterioration. E28 M5s were painted with single stage paint and did not have a clearcoat from the factory. If it' now has clearcoat, it was either repainted or may have been involved in an accident. There's also a slight possibility it was done by the dealership when the car was new.

In today's market, $12,5K is pretty steep for an M5 with 260K miles, although a rebuilt engine would help to justify the price. Be certain to ask to see the receipts for the engine rebuild. You should also ask to have a leakdown and compression test done by an independent BMW shop. If the seller balks, look elsewhere. It's a buyers market right now, and you can purchase a very nice lower mileage M5 for the kind of $$$s you're willing to spend.

Just my $.02.

Rich

[Nater]

I very much appreciate the 2 cents, Rich. It was repainted by the original owner, though I didn't ask the reason; I will. He also had compression numbers but I'm going to ask for a new test; he said all were at 145, but I think they're supposed to be higher, right (180-190)? Please forgive dumb questions, I'm new to this game.

He's a nice guy who isn't mechanically inclined but has enjoyed the car for 17 years. It may be a buyers market, but it's also an example with the mods I want and for sale locally, so I don't have to deal with eBay and distance.

I very much appreciate the input, and will update once it gets to the mechanic and I get to chat with him a bit.