Are E36 M3 surpassing the E46 values?

[maw1124]

Might be a combination of both however just two days ago a 99 yellow with 131k miles sold for $29K and a white 96 with 99k miles sold for $24,500. Similar E46 M3’s with those miles are the same if not less than what these E36’s are getting. I understand if they were low mileage examples however most I see completed aren’t.

It also probably has to do with the financial outlay for the "Big Three". Exhibit A... https://carsandbids.com/auctions/92D...m_medium=email ... car probably went $10k light because the Big Three weren't done.

When I was looking at E36M (my original choice), I couldn't get my head around the science project that would have been adding power to it, knowing that the factory had already added the 100hp I was looking for, in a newer car with an updated chassis and a warranty, maxing out the inline 6 engine that made their name, with a "real M" motor. So buying the Dakar over Black E36M and dumping $10k into it for science project power mods didn't make a whole lot of sense when I could just buy an E46M and be done. So that's what I did. If one needed the Big Three and the other didn't, that would have certainly factored into my analysis.

The E36M certainly has its fan base, some who have argued to me it was better than the E46M. They may be the ones buying the cited examples (Dakar being one of the best colors IMO). But most just move to the E46M (of which there are tons, so loop back to the supply and demand story).

maw

EDIT... full transparency, I wanted Dakar over Red in the E36M which didn't exist, or an Estoril over Red which also didn't exist, so timeless TiAG over Red in the E46M is where I settled.

[EthanolTurbo]

E36 M3 really is an amazing car, and I went from hating the US motor to loving it. I think there are so very few clean ones left despite the high production numbers (think NA Miata) that there will always be demand and scarcity for those true gems.

[Nate047]

If we're doing an E36 M3 appreciation thread, I'm definitely on board. I love mine, and unlike my E46, I haven't spent my entire ownership time trying to un-fuck the car from previous owners' neglect.

I don't know if I'd call it a $30K+ drive experience, but maybe it is. People pay boat loads of cash for air cooled 911s, and some of those drive like total garbage. When cars get old enough, it becomes more about the vibe, and less about the actual drive.

[Epoustouflant]

Might be a combination of both however just two days ago a 99 yellow with 131k miles sold for $29K and a white 96 with 99k miles sold for $24,500. Similar E46 M3’s with those miles are the same if not less than what these E36’s are getting. I understand if they were low mileage examples however most I see completed aren’t.

There are very few mint condition E36s - the limited supply might be playing a part in the prices you're seeing.

Personally, if I had to get into an E36, I'd want it mint over a clapper project. Unlike an E46, it would be very difficult to recuperate the cost required to bring it up to mint condition.

[nyc951]

People pay boat loads of cash for air cooled 911s, and some of those drive like total garbage.

When cars get old enough, it becomes more about the vibe, and less about the actual drive.

Agreed. And agreed.

[Casa de Mesa]

If we're doing an E36 M3 appreciation thread, I'm definitely on board. I love mine, and unlike my E46, I haven't spent my entire ownership time trying to un-fuck the car from previous owners' neglect.

I don't know if I'd call it a $30K+ drive experience, but maybe it is. People pay boat loads of cash for air cooled 911s, and some of those drive like total garbage. When cars get old enough, it becomes more about the vibe, and less about the actual drive.

Beautiful car dude. Hellrot E36 is pretty epic.

[R1pilot]

I had a '97. There is definitely some magic in that chassis.

They definitely punch above their weight class and will keep up with higher hp cars at the track.

[bigjae46]

The E36 is small, you almost rub shoulders with a passenger...or at least that's what it feels like. Part of it was no one really thought an M3 would ever be a collectible in the E36 era and were treated accordingly.

Most S52s aren't far off in price from an S54 nowadays so I'm sure E36s are getting closer to E46 prices. A low mileage mint E36 M3 is a unicorn unlike an E46.

[jet_dogg]

I don't keep up with e36 prices but what you're seeing is inflated e46 prices correcting since they were overvalued the past three years and other classics rising in price as people turn their attention to substitutes. Enthusiasts are looking at other, older cars that were under-appreciated and underpriced to bring them a similar utility quotient.

Also consider recessionary pressures, rising prices due to inflated money supply and shitty economy in general causing people to seek more value for their dollar.

E46 m3 is still the greatest iteration as well as the most covetable and I wouldn't ever bet on that not being the case. Regardless, all E-chassis cars are nice to look at and that is one of the driving factors period.

[maw1124]

Keep in mind that all these young classics jump in price generally at the 20y, 25y, 30y, 35y marks. The E36M is seeing its 25y jump now, whereas the E46M hasn’t even reached 20y and to jett dogg’s point, it has already jumped, arguably too much.

I saw this with my 500E, which I bought just before it turned 20y — it damned near doubled the next few months and jumped in plateau steps generally every 5y thereafter. All the articles heralded the 30y mark, and on and on. Meanwhile better examples went higher and higher, worse examples not so much, etc., etc.

If we think E46M jumped the last few years, wait until it starts to hit these hallmarks. I doubt the E36M will keep up, for reasons we all know (“non-M engine” will be all anyone remembers, unfortunately).

maw

[Obioban]

Keep in mind that all these young classics jump in price generally at the 20y, 25y, 30y, 35y marks. The E36M is seeing its 25y jump now, whereas the E46M hasn’t even reached 20y and to jett dogg’s point, it has already jumped, arguably too much.

I saw this with my 500E, which I bought just before it turned 20y — it damned near doubled the next few months and jumped in plateau steps generally every 5y thereafter. All the articles heralded the 30y mark, and on and on. Meanwhile better examples went higher and higher, worse examples not so much, etc., etc.

If we think E46M jumped the last few years, wait until it starts to hit these hallmarks. I doubt the E36M will keep up, for reasons we all know (“non-M engine” will be all anyone remembers, unfortunately).

maw

Non m engine, no wide body, interior that falls apart, annoying on the highway because no 6th gear…

[01SG]

I doubt the E36M will keep up, for reasons we all know (“non-M engine” will be all anyone remembers, unfortunately).

maw

I beg to differ. Cheaper to own as you said, rarer to find a good one, and just as good if not better as a driver's car are all reasons the e36 ought to stay close in value. I think it has largely, and rightly, shed the non-m engine stigma. And now the euro e36s are here too anyway.

I like both about the same. E46 is more car overall, but on the street the e36 is probably more fun. Smaller, more intimate, cable throttle, and better feeling.

[maw1124]

Yeah… most people aren’t as astute, nor have they driven both. I mean, the number of people who can actually appreciate what you’ve said from experience is pretty small I’d bet.

Not to mention (flamesuit on), the SMG is a MUCH better automatic transmission. We can argue about SMG. An automatic E36M doesn’t even exist, and people aren’t bothering to convert them.

maw

[Obioban]

Yeah… most people aren’t as astute, nor have they driven both. I mean, the number of people who can actually appreciate what you’ve said from experience is pretty small I’d bet.

Not to mention (flamesuit on), the SMG is a MUCH better automatic transmission. We can argue about SMG. An automatic E36M doesn’t even exist, and people aren’t bothering to convert them.

maw

What?

US e36 M3’s got torque converter automatics (optionally), and euro e36 M3’s got SMG (1).

My s50b32 e36 M3 started off life as an SMG car 😜

[maw1124]

When I shopped E36M I stopped looking when I saw that automatic gear selector. It was so bad back then, Autotrader ads wouldn’t even specify a transmission because it was an automatic $5k deduct or no sale. For those and the 850s. Sound familiar?

maw