M5 Prices

Specific conversations and info for the BMW E28 M5 and M535i.
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JayM
Posts: 473
Joined: Oct 13, 2006 1:23 PM
Location: Ottawa, Canada

M5 Prices

Post by JayM »

No, not another "what's it worth" thread. Rich Euro M5 made a good point in the Pirelli M5 poster thread about the reluctance of people to state how much they paid for an M5. There seems to be "conventional wisdom" on what one is worth (at least a US one) so are people worried they'll get ridiculed if they paid too much?

In any case, how about some info on prices asked vs prices paid? Here's mine:

'86 Euro M5 (build date 1/86), leather, sunroof, a/c and rear headrests. 178k km (about 112k miles). Found in Japan, asking price was 1.2 million yen (about $12k CDN) and I got it for 1 million. Of course I then paid transportation and taxes to the tune of it costing about $16k CDN in my garage. It's still waiting a comprehensive checkup to determine how much more I'll need to sink into it.

I think I did fairly well, though I doubt I could flip it for a profit at this point. Some may think I paid too much (especially with all of the added costs), but to me it was a good price. :alright:
Kyle in NO
Posts: 17635
Joined: Feb 12, 2006 1:00 PM
Location: Nasty Orleans------> Batten-Rooehjch------>More Souther LA

Post by Kyle in NO »

I agree. It looks like a damn nice car!
wkohler
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Joined: Oct 05, 2006 11:04 PM
Location: Phönix, Arizona, USA
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Post by wkohler »

You need to tell everyone you paid 1 million for an M5. Look at their reaction. That would be great.
gray635
Posts: 1781
Joined: Dec 07, 2006 12:29 AM
Location: Perry, GA

Post by gray635 »

Thanks to Jay for getting this discussion started. I, too, thought Rich made a good point in the other thread and invited this particular conversation.

I have bought and sold a lot of cars through the years and never felt the need to be secretive about the transactions. When you "fool" (no pun intended) with old cars as a hobby, market value is always an interesting subject. To the extent that it might be interesting to anyone, I will share my recent experience.

I have been looking, off and on, for a solid e28 M5 for about the last three years. Several of the cars I looked at suffered from cracked dashes - which I despise. I was reluctant to buy these cars out of concern that a replacement would be expensive and that I would not be happy with the result.

I finally found one in the Atlanta area - about 100 miles north of me, so a real bonus in that I didn't have to travel. The car had 147K. I had been looking for something in the 80K to 100K range, but the car was convenient so I drove up one Saturday to look at it. The owner was BMWCCA, had all the records from around 90K and a stamped service book before that. Routine service was consistent and performed at a good indie shop in Atlanta. I did not get a PPI (pretty risky, I know!) but did talk with the tech (also an M5 owner) who had serviced the car for the seller. He gave it a good recommendation.

The interior was actually pretty good - no dash cracks, very good leather (not even a lot of wear on the driver seat bolster) and good (but dirty) carpet, which has now been professionally cleaned and looks great. Carfax was clean and the paint (except for some stone chips on the hood) was very good. All original body panels with stickers in place.

Aftermarket Borbet wheels (soon to be replaced with BBS) and Kumhos with about 8k on them. Engine dry. No oil consumption (seems to be accurate, based on about 1k experience) .AC works great. Nice Alpine CD player with Infinity speakers (both looked completely out of place in the car - just replaced with a Blaupunkt CD player & speakers-much better). Autothority chip in 1y/old replaced ECU. Autothority short shift kit (which I do not particularly care for - too tight with too much slop when in gear). The car runs great and is a blast to drive.

I was the first guy to look at the car. Asking price was $l2K. I offered $l0K and bought the car at that price. I would have paid more.

I have owned it for about a month now. I enjoy the car very much and it is good company for my 1985 635 garage queen and 1999 M3 daily driver. I have also enjoyed this board very much and have my reservations in for 5erFest. I hope to meet many of you in Chattanooga.

I think I got a good deal and am very pleased with my purchase. I was prepared to pay around $l5K for a very nice car with less mileage. What do you guys think?

I wish I was technologically able to post some photos for the board. I know that C.R. will ridicule me for not having pics. However, I am a computer idiot, do not have a digital camera and am barely able to handle this email stuff!
Matt
Posts: 2345
Joined: Feb 12, 2006 1:00 PM
Location: Fargo

Post by Matt »

in Summer of 2000 i paid 14.5k for a 98k mile example. it had a bavauto chip, a weird exhaust, some aftermarket audio, and the a/c didn't work.

since then i've put about 30k miles on the car, including a few track days. also:

- put on new DEC cat
- put on new factory muffler
- repaired failed accordion valve in header (2x)
- had the car dyno'd a couple times
- crank hub failure => JB weld repair w/ new Fahey hub
- re-soldered ECU pads
- replaced crank sensor
- replaced plugs, rotor, cap
- adjusted valves
- installed lightweight flywheel
- replaced SLS accumulators
- bought LOTS of tires :)
- bought E34 M5 rear brakes
- brake fluid flushes, oil changes
- bought some brake pads for the track
- replaced windshield
- re-keyed master door lock cylinder (new tumblers, same key shape... used the rebuild kit)
- cleaned/rebuilt the power antenna
- had a pin-hole dent in the roof fixed
- had a failed body-filler job fixed properly
- replaced thrust arm bushings (twice)
- timing chain tensionier replaced
- repaired water leak in windshield gasket
- removed trunk trim and toolkit due to excessive moisture/condensation in the trunk
- remove drivers door panel to try to lube up power windows
- installed under-seat subwoofer
- replaced a turn signal bulb
- replaced bulbs inside of headlight/foglight switch
- replaced relay for SLS pump
- replaced fog light bulbs
- will need to replace a headlight bulb this spring (went out right before i put the car away for winter)
- bought replacement bmw glovebox flashlight

what the car "needs":
- front seat reconditioning
- trunk trim re-installed
- door panel re-installed
- starter sometimes doesn't engage
- leaking accordion valve fixed once and for-all
- oil leaks repaired (one bad one from front of motor, one occasional one on the diff?)
- replacement of all rubber suspension components (it's been at least 7 years :))
- detailing / paint touchup
- tires (again)
- drivers side drip rail (shadowline)
- turn signal harness contacts cleaned up
- squeaks in b-pillar addressed

This car is kind of a weird deal for me. There's no reason to get rid of it -- it is reliable, fun, fast, and practical. There's also not much reason to keep it - except for emotional and historical value. It was my first "nice" car and it's what i cut my DIY teeth on. Nobody will ever make a car like this one again, and it is truly a great balance of fun and every-day quickness/practicality.

Where i live now i can only drive it about 8 months of the year, and I'm getting a new A4 as my new "Default car" year round, so this will be relegated to "nice day driver" or "i feel like it" car. Shouldn't i have something more obnoxious to fill that role, like an air-cooled 911 ? :)
RoyW
Posts: 2799
Joined: Feb 12, 2006 1:00 PM
Location: Albany, NY

Post by RoyW »

I paid $1800 (in 2002) for one and $17,000 (in 2004) for the other... just goes to show you that there is quite a range depending upon mileage, condition, history, etc.

-RoyW
88M5
Posts: 33
Joined: Feb 18, 2007 12:27 AM
Location: KANSAS CITY

Post by 88M5 »

I believe I was the one who started this in the other poster thread when Gray was kind enough to ask me if I was enjoying my car. He was obviously familiar with the car I bought. I understand Rich's point and I was not trying to hide what I paid. I think there should be discussion so we as a group of owners know what is going on in the market... Gray, thanks for the kind words and btw I am originally from Atlanta. I have been looking for a car seriously for 2 years now. I found what i thought was the nicest car for sale at the time I did this deal last week. I purchased one of the cleanest E28 cars I have ever seen and paid 25k for it. I also had to travel to California to see it, have the car shipped home, and it needs a few things to make it perfect. (or as close as you can get) It has had a velour dash cover on it since new so the dash is crack free and really nice. The interior is a 9, the paint is a 8. It needs a little work. The trunk is perfect, the spare has never touched the ground. The tools are complete. it has 38,000 miles. The record keeping is unbelievable. Window sticker and invoice to every time anyone touched the car. All manuals, etc. Just completed Inspection 2 at Dinan, since the car lived down the street. (a $3000.00 bill) It came with a brand new set of euro bumpers, still in the box, and front airdam to go with them... So did I over pay? I am not sure but I do not care. I have one of my dream cars in as close to what I would say is perfect condition without being a museum piece. I appreciate all of your enthusiasm and for welcoming me into your group. :D

-Casey
Dana R
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Joined: Feb 12, 2006 1:00 PM
Location: Winchester, MA

Post by Dana R »

88M5 wrote: So did I over pay? I am not sure but I do not care. I have one of my dream cars in as close to what I would say is perfect condition without being a museum piece.
-Casey
Right on man. What you now have in your possession is very difficult to find, and you paid what you paid. Anyone that criticizes you for paying too much is an a-hole. All that matters is that you're happy with your new car. Enjoy, and drive!

I used to have an almost perfect M5, and I sold it, because I was afraid to drive it, I'm ashamed to say.
wkohler
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Joined: Oct 05, 2006 11:04 PM
Location: Phönix, Arizona, USA
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Post by wkohler »

Dana R wrote:
88M5 wrote: So did I over pay? I am not sure but I do not care. I have one of my dream cars in as close to what I would say is perfect condition without being a museum piece.
-Casey
Right on man. What you now have in your possession is very difficult to find, and you paid what you paid. Anyone that criticizes you for paying too much is an a-hole. All that matters is that you're happy with your new car. Enjoy, and drive!

I used to have an almost perfect M5, and I sold it, because I was afraid to drive it, I'm ashamed to say.
Here's the way I look at things:

If I feel I may have overpaid, I just say, "I have it. I have one that was good enough for me to buy, and if a better one comes along cheaper, we'll take it as it comes." That is usually what happens when I buy vinyl.
gray635
Posts: 1781
Joined: Dec 07, 2006 12:29 AM
Location: Perry, GA

Post by gray635 »

Matt: Thanks for the interesting information on your M5. The inability to drive your car 4 months out of the year makes me glad I don't live in ND!

While I obviously am a big fan of e28 M5s, and BMWs in general, I understand your desire to try a 911. I have owned three through the years (a beautiful 1969 911e that turned out to be a total rustbucket, and a 1987 and a 1988 Carrera - great cars with the 3.2 liter engines and G50 hydraulic transmissions). Of all the cars I have owned through the years, the 1987-1989 911s are the most fun to drive and about the most impractical. Unfortunately, mine turned out to be ridiculously expensive to maintain and I pretty much "lost my shirt" on every Porsche I have owned through the years (944S, 928S4, 968 cab and the 3 911s) - a lot of maintenance cost that was not even close to covered in the sale price. Having said that, however, I will surely own another one (or more) at some point in the future. If you have never tried a 911, you should give it a shot. That big air cooled engine hanging off the back is a blast and the sound is fantastic!

Casey: I absolutely agree with your philosophy re: your purchase of the M5. In 2001, I found and bought a virtually perfect, one owner, all records, Alpine White/Taurus, 5sp. , 43k 635csi. I paid way too much for it and, since then, have spent way too much maintaining it. But I don't care. It is one of the nicest old 6s I have ever seen and every time I look at it or drive it, the car gives me pleasure. How many things do you own that you can say that about? In retrospect, the car turned out to be a bargain. I doubt that I will ever sell it.

OK, guys, we've had a few brave souls step up and reveal, for all to see, what the asking price on their M5 was and what they finally paid for their cars. Any more players in this game out there?
88M5
Posts: 33
Joined: Feb 18, 2007 12:27 AM
Location: KANSAS CITY

Post by 88M5 »

Matt-
that
I am a new 911 owner. It is water cooled of course being a 997 but I love it anyway. I have had lots of fun with it and it is totally different than all the BMW's that have lived in my garage at one time or another. I have done a few mods to it. A roll cage, GT3 seats, brakes, suspension, exhaust, etc. It is a C4 so the all wheel drive is a blast in inclimate weather. I agree, everone should own a 911 once in their life. Water or air it is up to you.

Enjoy, and try to drive or own everycar that sits in the back of your mind.

quick story as an example. When I went to Cali to buy the M5 last weekend, I rented one of the Shelby/Hertz Mustangs. I was not even born the first time the rent a racers were available but in the future I will have a great story to tell about how I bit the bullitt, rented a shelby/Hertz stang in San Fran (see Bullitt movie) and drove to buy a E28 M5. What a great memory.

Enjoy

-Casey
[/img]
gray635
Posts: 1781
Joined: Dec 07, 2006 12:29 AM
Location: Perry, GA

Post by gray635 »

Hey, guys. I thought I would bump this post. As a new M5 owner (who is busily dumping money into the new toy and having big fun so far) I am curious about the current values (asking/paid) on these cars, in their varying conditions. Several of the board members have stepped up with some info and opinions - any more players?
LateStart
Posts: 122
Joined: Jul 06, 2006 2:49 AM
Location: San Francisco, CA

Here's my purchase details...

Post by LateStart »

I bought my M5 last May.

Purchased off of Craig's List in San Francisco. I had been looking for an e34 M5 and was convinced by a friend to look at an e28.

Purchased for $5500 including an MG Midget which was sold immediately for $500.

160k miles
Decent repair history
Front seats in crap condition -- leather ripped and driver's seat frame bent.
AC and cruise control didn't work.
Front suspension shot, rear in worse than average condition
Dash heavily cracked and wearing the fakey cover
Rotors and pads toast.
Front windshield has minor crack.
No rust, but many minor body imperfections
Rear parcel shelf sunburned

Since purchase have fixed all of the mechanical issues and cleaned up some of the cosmetics:
New timing chain, guides, etc
New radiator
New water pump and oil pump
Rebuilt injectors, tested and flowed
New rotors and pads in front,
540i Sport brake upgrade in the rear with new rotors and pads
New shocks and springs all around
New front suspension almost complete replacement
New leather for front and rear seats and new parcel shelf cover.
All fluids replaced and engine compartment cleaned up.

Purchased but not installed yet:
Dinan adjustable rear suspension
Saab glass sunroof
Crack-free dash
New window rubber front and rear windows and doors, new shadowline trim for front and rear windows
throwing star wheels (need new tires)
e32 Master Cylinder
e34 cams and cam gears 264 degrees versus 248, etc
Replacement switches for seats
Rear fog-light set up.

Needed but not purchased yet
New stereo and replacement speakers
New front windshield
Cluster for additional gauges - oil pres, temp and water temp

Open Issues undecided:
How much to clean up the body work, perhaps a partial repaint?
Euro bumpers - they look much better, but PITA to install
Custom chip after cam install
Dyno testing to confirm current hp output
MAF replacement for AFM?

I have driven the car approx 1500 miles since purchase. Drives pretty good, looking forward to a quieter ride once the new window seals are in place. Have had it up to 120 mph on Hwy 5. Very stable and comfortable, but a bit noisy. Not sure I am seeing all of the expected power, but the dyno will tell the real story.

Goal was to stay under $10k with all upgrades. I will probably go over that, but stay under $12k. If I had to "do over" would have bought a car in a bit better cosmetic shape as those issues are a pain to fix.
Last edited by LateStart on Sep 24, 2015 10:38 PM, edited 1 time in total.
Tammer in Philly
Posts: 10712
Joined: Feb 12, 2006 1:00 PM
Location: CHI, IL

Post by Tammer in Philly »

No longer an M owner, but:

Purchased in 2005 for $9300. Over the course of a year, I tracked it a couple times, drove it 10k+ miles, replaced most front-end components, rear pitman arms, a set of tires, and picked up a spare set of wheels for it. I cleaned up the interior quite a bit and gave the paint a good polish. It was imperfect but a very solid driver and about a 3-footer. I sold it almost exactly one year later for $10,500. Maybe I was down a few hundred net when I sold it, but that's pretty cheap to own such a wonderful car for a year.

-tammer
unslow
Posts: 268
Joined: Feb 12, 2006 1:00 PM
Location: DFW, TX

Post by unslow »

I'll throw my $0.02 in too. I paid $16.5 for my M5 in July of '05. This was with a hair under 60k miles ("hair" as in I rolled 60k less than 4 miles after taking delivery) and 8/10 exterior and 9.5 on the interior.

It came with a stack of receipts and was owned by a CCA member so I'm confident it came from a good home. Very minor mods (chip, cam, gear, and bushings) but other than that it was stock.

Overall, I am pleased with the purchase. Anything under 100k miles is bound to fetch a premium and this was exactly what I expected to spend. My only regret is seeing that Roy paid only $500 more than me and while I am extremely pleased with my car, his is an absolute work of art. That was a steal if you ask me!
RoyW
Posts: 2799
Joined: Feb 12, 2006 1:00 PM
Location: Albany, NY

Post by RoyW »

unslow wrote:I'll throw my $0.02 in too. I paid $16.5 for my M5 in July of '05. This was with a hair under 60k miles ("hair" as in I rolled 60k less than 4 miles after taking delivery) and 8/10 exterior and 9.5 on the interior.

It came with a stack of receipts and was owned by a CCA member so I'm confident it came from a good home. Very minor mods (chip, cam, gear, and bushings) but other than that it was stock.

Overall, I am pleased with the purchase. Anything under 100k miles is bound to fetch a premium and this was exactly what I expected to spend. My only regret is seeing that Roy paid only $500 more than me and while I am extremely pleased with my car, his is an absolute work of art. That was a steal if you ask me!
Unslow:

Thanks for the compliment on my street M5... but, to make you feel somewhat better, my low mileage M5 (38k miles when purchased) wasn't nearly as good when I bought it as it looks now (maybe it was an 8 out of 10 on both interior and exterior, at best... and U.S. bone stock). Since then I've put about ~$8K into it, including the euro bumper, front euro valance, euro headlights, UUC muffler, H&R/Bilstein spring and shocks, and the Throwing Star wheels. Not to mention a lot of hours of detailing inside and out. That the car you saw at last 5erFest.

So, while I still think I got a pretty good deal initially, its taken a lot more $ and effort to get to where it is now.... and, it still has some flaws!

Hope to see you at this year's 'Fest!!

-RoyW
gray635
Posts: 1781
Joined: Dec 07, 2006 12:29 AM
Location: Perry, GA

Recent FMV info

Post by gray635 »

I hope the group will respond to a bump of this subject. From some recent posts, it looks like there have been some recent M5 purchases. Any new buyers' responses to the subject of "asking/bought" prices would, I think, be interesting to all of us M5 owners.

Any new "fair market value" information out there anyone's willing to share? Don't be shy!
Cory
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Post by Cory »

Just paid $14,500 for a very well cared for one with 122,000 miles. Basically stock with Bilsteins/springs, new wheels and tires (with flawless originals in my attic), Conforti Chip, Nakamichi CD400/Infinity sub and loads of parts already properly replaced. Really well maintained great one.
I've since spent a total of $2,120 on it for all fluid changes, many hoses, alternator bushings, transmission and rear differential seals, rear trailing arm links, valves adjusted and a few other things. I'll get around to the timing chain and crank hub and that should do it, hopefully.
marksv4
Posts: 63
Joined: Apr 12, 2007 11:34 AM

Post by marksv4 »

We paid $13,500 Cdn. for our black on black 3rd owner car. 125,000 km. (78,000 miles) Came with recent clutch job at dealer,4 brand new BBS 16" wheels, all new brakes, new foglight,throttle cable and sub frame mounts uninstalled. Dealer stamps were lacking. Rear rubber part of trunk spoiler has a large nick in it from the garage door being lowered on it.

So far we've done rad, starter and all fluids, filters, belts,heater control valve kit. We are into it for $2.5k more. Compression was 170 in all except #2 140. Car sat for awhile and only driven 5k in 4 years. Paint is great but looks like the doors were sprayed as the owners manual shows door dings on the body inspection chart done at the dealer. Interior is beautiful, perfect dash, drivers seat losing a bit of color but we have now Meguired them to death. Originally sold by Park Shore Motors in North Vancouver, B.C.
M635CSi
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Joined: Apr 09, 2006 6:25 PM
Location: .From Sea to Shining Sea

Post by M635CSi »

US spec M5 asking price $9,500, seller agreed to $8,000. Body is 8.5 out of 10; interior 9 out of 10 and the engine has just over 130,000 miles and has been maintained as required, so you decide what that means but its dry and runs fine. I would call the car 8.5 out of ten. The only modification is an aftermarket stereo. The car is in good shape not due to being a garage queen but because of an easy life and the maintenance was kept up. I wanted a middle of the road car as a daily driver not something for the garage.

I'd have preferred my white 535i in M5 trim but that wasn’t worth the trouble, expense or time so I took the easy way out and got an M5.

The tires are new but the suspension and mechanicals should be gone through for checking and the timing chain components replaced as a preventive repair measure.

As for modifications I doubt there will be any but if there are, it would be either black euro bumpers and M5 spoilers with M5 wheels or the tupperware body parts with throwing star wheels.

I'm not happy I bought another car but its an attractive car at an attractive price.
dejablue
Posts: 71
Joined: Apr 11, 2006 6:58 PM
Location: Las Vegas

Post by dejablue »

i paid $6300 for the Wisconsin M5 last April and essentially got a 5.5 to 6.0 car. On the positive, there is no rust as it was only in WI for 14 months or so. Since that time I have spent the same amount (almost to the dime) on the suspension, hydraulics, brakes, rotors and tires. Nothing major done to the engine yet except t-stat, hoses, plugs have been changed, and the A/C was recharged. Engine runs great. My Fahey hub awaits installation at which time I will do the timing chain and related items up front. The interior needs $$ and it could use a paint job. All this will come in due course. I have driven it over 5,000 miles since purchase and enjoy it more each time. To me, all this is money well spent, and I have no intention of selling it. At my age, it goes to the grave with me !!! Jim
Wiseguy
Posts: 2026
Joined: Feb 12, 2006 1:00 PM
Location: Between 17K and Rt 52 but a lot closer to 52

Post by Wiseguy »

I paid $5,300 for mine when I got it last February. It had 161k on it and is now approaching 184k.

It needed: Interior was rough, dash has cracks, rust in a few spots but not terrible.. will be $2,000 to fix that.

Paint is all original and decent for a 20 year old car.

Rear subframe mounts/trailing arm links wasted

Really needs a new suspension

Came with new but hellishly bad Kumho 712s (I HATE them)

AC was broken.

Had oodles of little maintinence issues.

Will need a clutch soon.

Engine uses a quart every 5-600 but runs like a raped ape with good compression and leakdown, go figure.

Has some minor leaks but nothing major.

I have done:

Pioneer head unit and Sirius.
UUC SS Brake Lines
UUC Evo3 SSK
UUC Tranny Mount Enforcers
New fuel lines
New fluids, all of them.
E34 M5 rear brakes
New pads and rotors all around
Rebuilt the front calipers
Rear subframe mounts and trailing arm links
New Tires (P-Zeros)
New Stereo system
New AC Compressor
New heater valve
Adjusted valves when I got it, again at 170k and again at 179k and soon will get em again. I am anal about this and check em every 8-10k usually.
New Valve cover gaskets of course
New Thermostat
All new cooling hoses
Better and then reupholstered front seats.
Euro Lights
Supersprint Exhaust and straight pipes
Wiper Blades
a bunch of stuff I forget.

Needs:

Somewhat fixed the AC, need to do a (*&%&^ing expansion valve and evap before 5erfest)
Heater core
Redye of the door panels and center console
A hell of a detail
Refinishing the rims
New Dash
New Steering wheel
New floormats
Fix the rust
Some paintwork
Fog Light lenses and brackets
New window channels
New tires again.. soon
New suspension
New control arms, thrust arms and tie rods.
New PS hoses
Reseal the Steering box
New Clutch
A UUC DSSR as SOON as Rob gets that sorted out .. working on it! ;)
Replacement of some plastic bumper trim
Proper wiring of the Euro Lights so the city lights work.

It will be, when done, close to a $15,000 car if not more, but it will be gorgeous.

A gorgeous M5 costs $15k as a minimum, usually much more. by the time you're done with it. I think that, when done, it MIGHT be worth $12,000-13,000. It will not be for sale ever. I've let others go.. I regret that and won't make the same mistake twice, or is it thrice?

It's also one of the earliest ones out there.. VIN 2791007.
Tammer in Philly
Posts: 10712
Joined: Feb 12, 2006 1:00 PM
Location: CHI, IL

Post by Tammer in Philly »

For those of you who have a spare that has never touched the ground: buy another cheap BMW wheel and put a new tire on it, and make that your spare. Put your pristine original spare in the basement. A 20-year-old tire that's never carried any load isn't going to get you to the next exit.

-tammer
gray635
Posts: 1781
Joined: Dec 07, 2006 12:29 AM
Location: Perry, GA

Post by gray635 »

Since it looks like there may have been some recent M5 activity out there :wave: I thought I would bump this post. Always interested in the market for our old cars
sanjose88m5
Posts: 11
Joined: May 03, 2007 12:06 AM

M5 Prices

Post by sanjose88m5 »

Glad to stumble across this thread...I'm pretty new to the community, and have been lurking for a bit.

I "inherited" an 88M5 about 6 months ago. My father purchased it in 1989, passed it on to my brother about 7 years later. I paid $3000 for it, with the committment to "clean" it up, as its been used very little in the last 3-4 years. I've loved this car since the day my father drove it home...and understand how rare a classic car it is. (though that seems to be another great debate).

The details:

About $2K getting the inetrior cleaned up. Broken drivers seat frame, torn leather etc. re-dyed the passenger and rear seats (the dash has no cracks and the door panels cleaned up pretty well).

About $2500 bucks tuning up the motor: New distributor, rotor, plugs, O2 sensor, throttle switch, ingnition coil, K&N air filter, AC, front brake overhaul with new pads, rotors, caliper rebuild, bushings.

New Stereo system, speakers, sub, amps etc...(Black deck with amber lights to match dash lights)

At this point, I'm about $7500+ all in. I have a small leak in the radiator, and will need a new waterpump and hoses when the radiator goes...so I expect another $1500. There are a few other items, I'm sure the punch list will grow, but thats agood summary.

The good news: The car is pretty much stock, with the exception of a stainless steel exhaust, and removal of the SLS. It's never been hit, all body panels have stickers. ie everything is numbers matching. Recently professionally polished and it cleaned up nicely. The paint looks fairly good but does have some scratches and road dings (beauty marks) that won't polish out. The rocker panels behind the front tires have worn paint...from road debris...no rust anywhere as it was garaged and never winter driven!!! Exterior is a 7/10, interior is 8/10. 128000 miles (as of today) and a fairly new set of BS SO3 Pole Position treads.

I've had 4-5 random "offers" to buy it, in the 6 months I've owned it. The most recent and serious was a guy with an 87 535. He clearly new a great deal about the car, and offered me $8K on the spot...("follow me to the bank across the parking lot so I can give you $1000 down payment serious")... my guess is he'd have paid more had I really considered selling.

Anyway, cool to see all the feedback. Makes me feel good about putting some money into a great, classic and really fun to drive car.

See you around.
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