The E28 M5 is arguably some of the vital automobiles from BMW historical past. Its low manufacturing numbers, coupled with the truth that it was the primary automotive to ever obtain true “M5” designation, makes it instantly enticing to collectors. Its M1-derived inline-six and 152-mph high velocity makes drivers swoon, too. Final week over at Hagerty’s Market, a really particular E28 M5 set a brand new promote worth file: over $195,000 together with consumers charges. Might it even presumably be price it?
Meet the $200k BMW E28 M5
It in all probability goes with out saying, however any uncommon BMW commanding a fair bigger premium than common typically has some tie to EAG. EAG, or Fanatic Auto Group, focuses on BMW M automobiles, normally discovering low-mileage and exceptionally clear examples and making them as near like-new situation as attainable. This E28 isn’t any totally different in that respect. The promoting seller “sourced” the automotive from EAG’s “personal assortment.” However this E28 has one other well-known identify connected to it: Canepa. Maybe much less ubiquitous within the BMW world, Bruce Canepa previously raced in IMSA and different race sequence — completed third in 1979 24 Hours of Le Mans, too — earlier than opening up a restoration and velocity store in California. Refreshing and upkeep from Canepa totaled round $50,000 — complementing the $25,000 in receipts from EAG properly.
In fact, to say the automotive is well-kept barely scratches the floor. The E28 M5 in query has simply 9,800 miles on the odometer, which probably makes it one of many lowest-mile examples in existence. Like nearly all North American automobiles, this E28 M5 dons black paint over Natur leather-based upholstery. The automotive comes full with service data courting again to 1991. Saying the automotive checks all of the packing containers is an understatement. And it’s a reminder that classic BMWs are solely getting increasingly costly.
Why This Sale Issues
The E28 M5 is arguably the definitive BMW fanatic piece; a hand-built engine, ties to the M1, and historic significance to the model make it an immensely vital automotive by itself. In fact, the same old analog charms apply too, like old-school BMW dealing with and a guide transmission. This particular automotive’s well-illustrated service historical past did quite a lot of the heavy lifting right here; in any case, the E28 M5 has no scarcity of ache factors in the case of upkeep. And even earlier than at present, the E28 M5 commanded eye-watering costs; Hagerty says that in 2016 a wonderful situation automotive went for $57,400 on common.
So, certain, possibly the E28 M5 — and this one particularly — is an outlier. The subsequent highest-selling instance was the King of Sweden’s automotive, which hit Deliver a Trailer in 2023 and bought for the very royal sum of $140,000 earlier than charges. Nonetheless, that automotive had 15 instances the mileage, with an odometer studying 252,000 kilometers (156,000 miles). Actually, low mileage E28 M5s are nearly unimaginable to seek out today. Nevertheless it appears the demographic is greater than keen to pony up for provenance. The combo of each makes this E28 M5’s astronomical worth simpler to digest.
However this E28 M5 sale additionally serves as a grim reminder. For those who haven’t picked up your dream analog BMW but, there has by no means been a greater time than now. Costs are creeping up and there isn’t actually any motive to suspect that pattern will reverse any time quickly. Particularly when you’re stuff from the Eighties and Nineteen Nineties, just like the E28 M5 or any of its contemporaries. This sale is — and can probably stay — a excessive water mark for the E28 M5. A minimum of till one pops up with 9,700 miles on it.
Public sale itemizing: 10k-mile E28 M5
