Rare 1989 BMW M3 Convertible Fetches Over $101,000 At Auction

The BMW E30 M3 Convertible is a rare and highly sought-after modern classic car. With only 781 Convertible models built, seeing one listed for sale or on the road is few and far between. One of those few, however, was sold at Collecting Cars for 95,500 euros or around $101,770 at the current exchange rates.

This particular 1989 E30 example only has 49,963 miles (80,407 kilometers) on the clock, making it relatively fresh considering its age. Even better, it was extensively restored by BMW Group Classic, making it a very well-presented classic car both mechanically and cosmetically.

The naturally aspirated 2.3-liter inline-four powering this M3 Convertible is mated to a five-speed dog-leg manual transmission that drives the vehicle's rear wheels. The car has a soft Macao Blue Metallic paint job and a dark blue fabric top over a black interior with leather accents. Front sports seats, an M-spec steering wheel, air conditioning, and a BMW Bavaria C Electronic radio head unit are other features of the vehicle. The car's body is complemented by a set of original and restored alloy wheels.

As mentioned, this 1989 BMW E30 M3 Convertible has been completely restored by BMW Group Classic, with a vast array of documentation to show for it. During the restoration, the car received an engine swap with a BMW M5 motor and transmission. However, this was later replaced with a correct S14-type M3 engine and transmission by BMW Group Classic.

As part of the complete mechanical restoration, the gearbox, gear shaft, brake hoses, oil cooler, propshaft, rear axle drive, muffler, air conditioning pipes, condenser, filter-dryer, fan, and compressor were all replaced.

According to the seller, the automobile is in excellent condition on the interior and outside. The Macao Blue Metallic paintwork has recently undergone a water polish, and it looks fantastic. There are no known mechanical or electrical issues with the inside, which boasts black leather trim and has been treated to revitalize the leather upholstery. BMW Service Dusseldorf executed the last service in June 2021, which includes the annual maintenance as well as the replacement of brake discs and pads.