Shattering sale price benchmarks for the BMW E36 M3 market
Sale Price
$85,000
Previous Record Increase
+28%
BaT Listing Views
27,174
Comments
130
- 1995 BMW M3
- VIN: WBSBF932XSEH00652
- Record Setting US Spec E36M3 (non LTW)
Attention to detail and commitment to originality brought back this 12k-mile BMW M3 to proper form and fueled market-altering results at no reserve.
This commission appeared on our radar as we got better acquainted with Jim Herrold, owner of the well regarded independent BMW shop, Kassel Performance in York, PA. We brought them an E39 540i Sport 6-speed after an ill-advised, impulse driven purchase on BaT – but that’s a story for another day.
While commiserating over our 540i situation, he shared news of an off market E36 BMW M3 with 12k miles that the owner was open to selling. We quickly agreed that a partnership to secure the car could be worth our time and investment.
Our Process
Maximizing value at auction through detailed storytelling and presentation
Acquisition
Since Jim had already seen the car, we decided to secure a certified check for the full asking price, and drove two hours out to take a final look before purchasing. We were very eager to see the car, and in the excitement, we realized an hour into our drive that we had forgotten the check. Rookies! Nevertheless, the car had not been used for some time and was in desperate need of a detail, but it was clear the potential was very high.
Our strategy:
- Bring back the radiance to the car through interior and exterior detailing.
- Retain the originality of the car as much as possible.
- Document the details of the car in complete detail, leaving nothing to the bidder’s imagination.
- Establishing this listing as an outstanding reference for E36 M3 owners everywhere.
Preparation
Kassel Performance serviced the car, returning it to top order and Garage 44 led the effort on preparing the car cosmetically. It was evident we had an exceptional car on our hands, so we went all out.
We were dedicated to making every decision with the integrity of the car in mind, not necessarily the maximum profit. Beyond the cleaning of the car, we concentrated on providing a reference style listing that the E36 BMW community could use as a playbook when wrenching on their own cars. We concentrated on documenting date codes and displayed each one we found. This M3 was all original, and we were dedicated to leaving nothing to a bidder’s imagination while educating the community about how to identify originality on an E36 M3.
Presentation
True to our plan, we offered the car at No Reserve and strategically timed the listing to run the week of an open house at Kassel Performance, along with the AACA Hershey Fall Meet where it’s safe to say thousands of people saw it.
The decision to display the car for 4 of the 7 days the auction was active gave the listing a massive boost of credibility and there were tangible benefits as the underbidder and his son fell in love with the car after seeing it at Hershey, even bidding at the end within eyesight of the car.
The final sale price reached $85,000 (not including buyer fees) and broke the previous record for a US Spec E36 M3 (non-LTW) by $18,500 or 28%. This listing was a very good apples to apples comparison of the value generated by the Garage 44 process since the prior record was set roughly 60 days prior by a near identical Alpine White 1995 BMW M3 example with 13k miles on the odometer.
BaT Listing
This car created a great friendship and the reaction to the listing cemented my intentions to make a career out of this. We left no stone unturned in preparing and presenting this E36 because the car deserved everything. “It sure is fun selling nice stuff” was a recurring conversation while we prepared and documented this car. Chris Beal shot the meat and potatoes of the photo gallery and deserves a huge thank you for his time and effort.
