The original BMW M3 has become one of the most desirable performance cars of its generation, and clean E30 examples aren’t exactly easy to find anymore, especially with low mileage and a long ownership history.
This 1988 M3 checks both of those boxes, having covered approximately 51,100 miles over the past 38 years. Finished in Salmon Silver Metallic over a black interior, it’s also largely faithful to how it left the factory.
According to the seller, they purchased the M3 new in 1988 and kept it ever since. Its Carfax history only begins in 1995, but shows no accidents or mileage discrepancies during the period it covers.
That remarkably long ownership run finally came to an end when the BMW appeared on Cars & Bids this month. After attracting 88 bids, the auction closed on September 23 with a winning bid of $120,000.
An M3 From A Very Different Era
The E30 M3 was originally created to satisfy touring-car homologation requirements, resulting in a car substantially different from an ordinary E30 3 Series. BMW gave it unique bodywork, revised suspension, and the high-revving S14 engine.
This U.S.-spec example uses the naturally aspirated 2.3-liter four-cylinder, which produced approximately 192 horsepower and 170 lb-ft of torque when stock. Power goes to the rear wheels through a five-speed manual transmission.
Factory equipment includes 15-inch Style 5 wheels, leather upholstery, air conditioning, cruise control, and a power sunroof. There’s even an onboard computer, which was considerably more exciting technology in 1988.
Mostly Original, With A Few Changes
This isn’t a completely untouched time capsule. A Dinan performance chip has been installed, along with a BMW Z1 steering wheel, while the transmission was rebuilt and blueprinted to race specification by Metric Mechanic.
Fortunately for originality-minded collectors, the factory steering wheel and ECU chip accompanied the car. Owner’s manuals, an OEM service manual, and assorted spare parts were also included.
The listing disclosed some exterior chips, a scratch on the lower front bumper, a ding on the driver’s-side quarter panel, and normal interior wear. The rear spoiler had also previously been repainted.
$120,000 For 1980s M-Car History
The E30 M3’s modest output looks almost quaint next to today’s 500-plus-horsepower performance cars. Raw numbers, however, were never the only reason this car became so desirable.
It represents the beginning of the M3 lineage and comes from an era when BMW’s homologation requirements had a direct influence on what customers could buy at a dealership.
After nearly four decades with its original owner, this particular M3 is finally starting a new chapter. At $120,000, its second owner certainly paid quite a bit more than the first one did back in 1988, but for such a clean and honest car, it might actually be worth it.