M5 Prices

Specific conversations and info for the BMW E28 M5 and M535i.
Ken H.
Posts: 1787
Joined: Dec 04, 2006 9:43 PM
Location: Suburban Gomorrah

Re: M5 Prices

Post by Ken H. »

As anyone who has owned one of these things can testify, pricing on an M5 can be a real trip down the Rabbit Hole. At one end, we see examples from EAG getting into six figures; on the other, someone like Mac's buddy scores one for less than 5 Large. Who got the better deal may be in the eye of the beholder.

Having owned mine from new (absent 3103 dealer demo miles) and gone basically nutso on what has been done to it, whatever I am offered for it will not, repeat, not recover the dollar investment. OTOH, it beats serial purchasing of Corvettes. Or Porsches, for that matter. :facepalm:
Zanzibar996
Posts: 2
Joined: May 26, 2019 7:56 AM
Location: Florida

Re: M5 Prices

Post by Zanzibar996 »

I also have been looking at M5’s and just recently learned that one of the first cars I viewed is still for sale at same dealer 4 years latter
This tells me much about the high end of this situation
M5BB
Posts: 1500
Joined: Jun 13, 2007 10:13 AM
Location: Peachtree Corners, Georgia

Re: M5 Prices

Post by M5BB »

I've owned one for 10 years and it's a show level car. Currently insured for $48000.

I think it should be more as I watch the values go up on BAT.

There was an extremely nice car on there last week that sold for low 50's.
I thought it should be more.
The seller didn't have a leak down test posted and I think the engine health and potential rebuild cost is the single factor that keeps the prices down.

There are so few people capable of rebuilding these engines correctly.
I happen to be lucky enough to be one of those people.
Look up my build on here. M5bb.
Gary
RoyW
Posts: 2799
Joined: Feb 12, 2006 1:00 PM
Location: Albany, NY

Re: M5 Prices

Post by RoyW »

Had some fun getting caught up on this thread (it had been a while)... I especially liked the comments by one poster who likes to spend $10k or even $15k to "restore" these classic cars .. LOL :) That's a riot! Replacing a few parts isn't restoring a car, it's maintenance! To properly restore a vintage BMW takes many 10's of thousands of dollars. depending upon starting condition and end goal.

RoyW
prizefighter
Posts: 47
Joined: Sep 09, 2009 10:00 PM

Re: M5 Prices

Post by prizefighter »

Roy,

Agree. I took over an '85 Euro M that had been well cared for since new. It benefited from good early owners, was a show car from about 2002 to 2005 with an owner who lavished attention and expensive on the externals. It then had a knowledgeable and capable owner from about 2006 to 2009 who had revamped mechanicals with care in intelligence. I took over the car at 106,000 miles in 2009 and have driven it some 20K miles since then.

The car is about 90% of whatever perfect is, there are few things left to do (just sourced some new Euro headlight wiper motors out of Germany and will put them in this Fall, this will bring the car up to 92% - as an example of how I think about this) but it's in pretty good shape. I just threw some recent pictures up in the eye candy section. The car is only driven in the summer and spends probably a good two months every year in the shop (a dealership where I live has a group of people who understand and appreciate the car). I'm a fairly meticulous person by nature and apply a level of attention that I hope is consistent with the energies that went into the creation of these cars. This means something, entropy is constant and if you want to fight it, there will be resources that are needed.

Just the other day after taking the car out of a stay in the shop I totaled all repair, restoration and maintenance bills for this car from 2009 - 2019. A little over 70K during this time period.

Well worth it, in my opinion, the car keeps growing on me. But it's important to have a realistic understanding of what sort of undertaking this can be.
austin8753
Posts: 1116
Joined: May 16, 2010 1:37 AM
Location: Portland, Oregon, USA

Re: M5 Prices

Post by austin8753 »

I won't reveal what I paid for my 107k mile, (formerly) Dinan Turbo M5, but it was a steal, in today's market.

2791066
12/1986
107k miles indicated, which I believe to be accurate
Very presentable interior
Repaint in Lagunengrun-metallic :/
Dinan turbocharger setup and low compression engine (very little remains of the Dinan parts)
Dinan stage 3 suspension setup - sway bars, Bilsteins, blue springs and (I believe) fixed camber plates, strut bar, etc

After finally getting it running decently, the head gasket popped. After tearing it apart, we found that the cylinder head had a few cracks, and wasn't really cost effective to repair.

I pulled the engine and all turbo components out (with no intention of reinstalling) and sourced a 110k mile long block, and am currently (as we speak) doing a basic regasket/refresh so I can install it in the car. The turbo setup was super hacked together, by someone/people who had no idea what they were doing, with very little remaining of the original Dinan setup - my interest in reinstalling those parts was minimal, at best.

Mechanically, it will be very sound, once this engine stuff is all buttoned up. I have a new set of Spax dampers and springs to install, to replace the worn out Dinan setup. Still needs a paint job (big "fuck you" to whoever painted it green), but the body is fairly straight, never been in a collision (wears all its VIN matching original panels); however, the interior is very presentable, which is surprising, given how the car was cared for, over the last 25 years.

I hope to bond with the car this summer, as I really never had a chance to before. Goal is to have it back on the road for 5erWest.

I wouldn't sell it for less than $50k (my "not for sale" price) and it isn't worth anywhere near that. The E28 M5 is the car I lusted after pretty hard, in high school, and now I own one, so it makes a small part of my cold heart happy.
vandiesel
Posts: 159
Joined: Jan 02, 2012 5:16 PM

Re: M5 Prices

Post by vandiesel »

Funny I was just discussing your exact car last night with my friend Wes who used to work on when some shysters owned it. I saw it at JJ motorwerks years ago and felt sad to see it in a sad state. I'm glad to hear it is in good hands I hopefully will see you at 5er west.
austin8753
Posts: 1116
Joined: May 16, 2010 1:37 AM
Location: Portland, Oregon, USA

Re: M5 Prices

Post by austin8753 »

vandiesel wrote:Funny I was just discussing your exact car last night with my friend Wes who used to work on when some shysters owned it. I saw it at JJ motorwerks years ago and felt sad to see it in a sad state. I'm glad to hear it is in good hands I hopefully will see you at 5er west.
Lol, I have talked to no less than a dozen people, who have worked on this car over the years. All have shared the sentiment. The previous owner was a really nice guy (to me), but the shop owners have not felt the same way... where did your friend work?

DJM had absolutely zero business working on this car. Still can't believe the PO had them working on it. Loose bolts and orange silicon gasket maker everywhere, on things they touched.
VZehn
Posts: 66
Joined: Apr 23, 2010 4:19 PM
Location: Chicago IL / Naples FL

Re: M5 Prices

Post by VZehn »

In all of calendar year 2018 there were 19 E28 M5s on sale on BAT, but only two on BAT so far in 2019 - until now, bang, there have been four for sale in the past three weeks!

Of the 12 that sold on BAT in 2018 the average winning bid was $26,657. The four sold on BAT so far this year run from a $21k higher mileage runner (247k miles) to a well sorted black-on-black example at $45k (126k miles).

With so few examples sold recently, and with several of them at higher mileage, it's hard to judge if the market is stable or something else.
KRsM5
Posts: 68
Joined: Feb 09, 2008 4:44 PM
Location: Virginia, USA

Re: M5 Prices

Post by KRsM5 »

Offloaded my rusty example end of August...not sharing price (lower than most I've seen here); the buyer knows what he's doing and I hope it'll bring it some life. Sad to say goodbye but I wasn't able to treat her well anymore.
boomvader
Posts: 92
Joined: May 22, 2019 4:05 PM
Location: Asheville, NC

Re: M5 Prices

Post by boomvader »

KRsM5 wrote:Offloaded my rusty example end of August...not sharing price (lower than most I've seen here); the buyer knows what he's doing and I hope it'll bring it some life. Sad to say goodbye but I wasn't able to treat her well anymore.
I think I almost bought it from your buyer. It was rough in the rust/rot category, but otherwise well maintained in other areas. In the end, I was relieved not to take on such a project. I can deal with most anything, but rust/rot is the worst. I was looking at a re-chassis and a 'Clone M5' project at best. If it's the same car, it ended up going to a body repair guy in the end.
MattyCV
Posts: 44
Joined: Jul 21, 2017 11:54 AM
Location: Seattle/Raleigh

Re: M5 Prices

Post by MattyCV »

Bought an M5 with 233k miles (swapped E34 M5 head) with an unoriginal (but from Canadian M5 I believe) black interior. Classic Euro Parts euro bumpers. Some rust here and there, nothing that would tell me to run away, though. Bought it from Asheville, NC. $22k.
M5BB
Posts: 1500
Joined: Jun 13, 2007 10:13 AM
Location: Peachtree Corners, Georgia

Re: M5 Prices

Post by M5BB »

My black on black (Black Betty after the song) continues to give me and her visitors great pleasure.
A little over 180000 now and driven at least a couple times a month.
She lives a sheltered life in my garage with a dehumidifier running in the summer. Atlanta humidity produces mold very quickly.
She is insured with Hagerty for $60k.

If you don't know me I have been a regular on here since 2003 when I owned my white 533i. I bought the M5 in 2007.
I built a pretty amazing engine for mine in 2009 when I burned a piston in her doing DE's at Road Atlanta. Made it to 140 on the back straight.
Currently has 361 HP at the crank, 325 Ft lbs of torque. It's as fast as my DD E46 M3.
Look up my build under M5bb.
Prices are going up and really good clean original cars are getting hard to find. EAG has one for over $100k. Under 50k miles.
Originality is the way to go with this car. Mine is not but tastefully modified. I have NOT done the euro bumpers because of the one of 30 black on black M5's. You can read all about it in the section I started about black interior M5's.
Hope to see you all after this crappy virus is over. Black Betty went to a meet at a brewery on Sunday and got lots of attention. At least from the guys that know what it is. Many under 30 don't have a clue. LOL.
Later,
Gary Beck
Atlanta, GA
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