1988 E28 M5 for sale. 54000 miles. Mint with all records

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1988 E28 M5 for sale. 54000 miles. Mint with all records

Postby Jproy » Feb 21, 2013 10:51 PM

I have a friend here in town with a 1988 M5 with 54,000 miles on the clock looking to get rid of it. It's a US spec car. Bone stock. One original owner. Garage kept and perfectly maintained. Black on Black, so Im told, in mint condition. I have not seen it yet. Im going to look and drive tomorrow morning at 9:15am. I'm considering buying the car and would like to know what you guys think it is worth in today's market, minimum/maximum, if it truly is in great shape for a one owner car with ~50K miles on it? Would any of you be interested in the car and at what price if it is in mint condition even if it is a tan interior? Obviously pics will follow after I put my hands on it. It has all meticulous mantinace records and some kind of M certification that is with it. Brand new tires etc.
Last edited by Jproy on Feb 22, 2013 12:13 AM, edited 3 times in total.
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Postby Mab1957 » Feb 21, 2013 10:58 PM

Cool :cool:

Please post lots of pictures and a writeup on the driving experience. I'll wing an opinion at min $20k max $45k. :dunno: I couldn't buy it though because I'd be afraid to drive it. :cry:
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Postby wkohler » Feb 21, 2013 11:09 PM

Where is "here in town?"
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Postby Jproy » Feb 21, 2013 11:19 PM

wkohler wrote:Where is "here in town?"


Lafayette, Louisiana
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Postby gray635 » Feb 22, 2013 12:02 AM

I'm watching this post with great interest. It's been awhile since a really nice, low mileage e28 M5 hit the market, at least to my knowledge. I know of several folks who are looking for such a car. I'm glad I've already got one. :banana:

Photos and details, please!
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Postby Jproy » Feb 22, 2013 12:10 AM

I am totally pumped about checking this thing out!! Cant wait till 9:15AM. I could hardly contain myself on the phone with the seller.
2000 Grey E39 M5. Found it rotting away under a tree for $500. Many many many thousands later it is such a great car. I have replaced almost every single part other than the engine block and trans.
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Postby RennSport88 » Feb 22, 2013 12:56 AM

Sounds awesome! I am in the market but my budget is capped in the teens and it sounds like this would be above it.
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Postby geordi » Feb 22, 2013 1:30 AM

Did you know EAG is currently out of stock of E28 M5s?? :shock:

My $.02, be ready to close the deal by Tuesday.

I saw you post on M5Board about same car… More than likely EAG has too. Those Cincinnati boys have probably already started the process of trying to locate this M5. Ok, call me paranoid…

Btw, Jproy… I have followed the restoration of your $500 2000 M5. What a find & nice job! That Beast looked like “swamp thing”. http://www.m5board.com/vbulletin/e39-m5-e52-z8-discussion/206048-2000-m5-restoration.html

Best of Luck!
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Postby S38Mike » Feb 22, 2013 1:32 AM

:popcorn:
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Postby RoyW » Feb 22, 2013 8:21 AM

If it "truly is in great shape for a one owner car with ~50K miles on it" and it's black on black, then it's worth big bucks, e.g., $25 to $35K+. It all depends upon condition, both mechanical & cosmetic, no accidents, and records. Good luck. :)

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Postby CSBM5 » Feb 22, 2013 10:05 AM

geordi wrote:Did you know EAG is currently out of stock of E28 M5s?? :shock:

My $.02, be ready to close the deal by Tuesday.

I saw you post on M5Board about same car… More than likely EAG has too. Those Cincinnati boys have probably already started the process of trying to locate this M5. Ok, call me paranoid…

No paranoia. They will immediately wire the funds, sight unseen, for something like this car. As a seller, it's hard to turn down immediate funds in bank versus dealing with all the calls, PPIs, etc, etc, I suppose. Personally, I'd rather see a car I own go to the right person, but I'm in the minority I imagine.

During my E90 M3 search this past year, I briefly considered an E92 M3 when I found the car with the options I want and without the ones I didn't want. As soon as it showed up for sale, it was claimed by EAG practically, and shortly on their site for $6k more than the owner's asking price. Typical. Anyway, glad they bought it as I really wanted the E90 and finally found it a couple of weeks ago.

geordi wrote:Btw, Jproy… I have followed the restoration of your $500 2000 M5. What a find & nice job! That Beast looked like “swamp thing”. http://www.m5board.com/vbulletin/e39-m5-e52-z8-discussion/206048-2000-m5-restoration.html

Best of Luck!


That car is hilarious. It's the only automobile I've ever seen that was owned by a dog. BMW didn't anticipate the claw wear an owner who is a dog would have on the leather interior apparently. I wonder how well he liked the M5.
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Postby Pavel » Feb 22, 2013 10:11 AM

Give us the VIN if you have a chance.
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Postby WilNJ » Feb 22, 2013 10:20 AM

beliq wrote:Give us the VIN if you have a chance.


You can rest assured, if that gets out, he'll never see the car.
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Postby GaAlpinaOwner » Feb 22, 2013 11:45 AM

RoyW wrote:If it "truly is in great shape for a one owner car with ~50K miles on it" and it's black on black, then it's worth big bucks, e.g., $25 to $35K+. It all depends upon condition, both mechanical & cosmetic, no accidents, and records. Good luck. :)

-RoyW


Agree sorta...
this one if black and if a perfect, one owner and with books and records I would have it priced at 30 - 35k or slightly more ....
there simply is not much supply that is 100% stock around with this amt of mileage...
Here is a benchmark for the naysayers.
I sold my first one a few years ago with 36k miles and it had several things to make it perfect....it sold for 36k ...
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Postby SicStang03 » Feb 22, 2013 11:46 AM

Was the black interior an option for US cars? I thought they were all tan.
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Postby BimmerSultan » Feb 22, 2013 12:24 PM

Jproy wrote:I am totally pumped about checking this thing out!! Cant wait till 9:15AM. I could hardly contain myself on the phone with the seller.


In the words of Judge Smails, "Well.......we're waiting."

Let's hear all about it!
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Postby Mark in Toronto » Feb 22, 2013 1:35 PM

SicStang03 wrote:Was the black interior an option for US cars? I thought they were all tan.


You can thank the Canadians for the existence of black interior M5's. :laugh:

From the M Registry:

Why are all North American E28 M5s essentially identical?
Because the E28 M5 was hand-assembled, yet needed to be manufactured for the North American market in relatively large numbers within a relatively short amount of time, BMW of North America was forced to limit the model's specification to just two color schemes: Black (086) with a Natur (tan) leather interior and (officially for Canada only) Black (086) with a black leather interior.

Why is a North American E28 M5 with a black leather interior so rare?

Though a Natur (tan) extended leather interior was the only official interior color choice for the U.S. market, Canada insisited on giving E28 M5 buyers the second option of a black extended leather interior. The black interior option was later expanded to the U.S. market at the very end of E28 M5 production. In total, 101 E28 M5s with a black interior were produced for North America, of which 71 were built to Canadian specification and the rest to U.S. specification.


http://www.bmwmregistry.com/model_faq.php?id=7
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Postby unt0uchable » Feb 22, 2013 1:52 PM

Ooh this will be interesting.

:popcorn:

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Postby bigdaddy » Feb 22, 2013 2:28 PM

It's worth a price some where between what you offer, and the seller asks for...

...at least until another buyer enters the picture.
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Postby Jproy » Feb 22, 2013 4:07 PM

The EAG boys sure didn't waste time reaching out to me. I bought the car this morning. She's not in quite as good a shape as I thought she was. It's pretty nice nonetheless for a car this old. Interior is dirty but will clean up well. The leather is in great shape and hardly has any wear cracks at all. The suspension need some help. Bounces around like a fat lady on a roller coaster. The engine sings. Diff bushings are probably shot. Brand new high end continental tires. Just under 55,000 miles. The gauge cluster was completely and officially replaced at about 54000 so the gauge cluster only shows 1086 miles on it. All proper documentation and labels associated with the cluster replacement. We have all maintenance records. Every single piece of paper that was ever associated with the car including widow sticker. No wheel rash but the silver on the wheels has faded and they are almost white. Paint is in good shape but she could stand for a wet sand. Rear rubber spoiler is a little faded and so are most of the plastic bits on the exterior of the car. Brakes work well. Ill post pics shortly. It is a tan interior.

Jim
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Postby BimmerSultan » Feb 22, 2013 4:26 PM

I look forward to seeing it...
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Postby bigdaddy » Feb 22, 2013 4:45 PM

In the spirit of transparency (and not to be out done by the Obama administration), would you tell us what you had to pay for it?

Less than 20K?
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Postby Kyle in NO » Feb 22, 2013 4:48 PM

Damn, less than 2 hours from me. Unbelievable.
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Postby Pavel » Feb 22, 2013 4:57 PM

It will be nice to hear more about this car with some visuals. Great purchase!
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Postby rcbmw » Feb 22, 2013 5:00 PM

There are no USA spec Black/Black E28 M5 examples remaining with 54,XXX miles. I did not post in this thread earlier because I did not want to reveal the VIN which I already knew based on registration records and that it is a TMU car.

There will be no more low mileage cars to emerge or hidden barn finds. I have tracked them all down.

Best,
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