November 8th Update:   frankly, we’re dumbfounded on why this 1999 M3 5-speed convertible with less than 50K miles still hasn’t sold since we first featured it at the end of July is still for sale.  The latest Craigslist post shows the seller lowered his price another $500 to $16,499.  We’ve updated the links below.  Good luck with the purchase!

October 6th Update:  preparing for Sleeper Sunday, we noticed the low mileage, unmolested 1999 BMW M3 convertible we featured at the end of July is still for sale.  A fresh Craigslist post over the weekend indicates the seller lowered his price $1,000 to $16,999. 

Check out this Titanium Silver over Light Gray leather, 42K mile, 1999 BMW E36 M3 convertible currently for sale here on Craigslist in North Brunswick for the latest asking price of $16,999.  We say that because that price conflicts with the “$19,999 OBO” the seller states in the last sentence of his description, so that’s a likely sign the owner has been trying to sell his M3 for a while now.  Based on the Hagerty Insurance Online Valuation Tool, the private seller has his M3 priced about halfway between the #2 “Excellent” level of $24,100 and the #3 “Good” value of $13,800.

BMW’s motorsports division provides “M” versions of the brand’s 3-Series cars dating back to the E30 beginning in 1986.  The 1999 example presented here is the last year of the highly regarded E36 that came with the 3.2 liter S52 inline six cylinder producing 240 horsepower and 236 foot pounds of torque.  While modest by today’s standards, the E36 M3 is no slouch with a mid six second 0-60mph time and 14 second quarter mile times.  That’s still plenty of punch to easily get you into trouble on most public roads.  The E36 represents the last generation when BMW was really on their game and produced a true sports sedan that featured perfect hydraulic steering and a minimum of electronic controls.

As the prices of M3’s fall, they typically fall prey to “Hoonigan” enthusiasts who proceed to modify and drive the life out of these cars.  Its refreshing to find a low mileage, all original example such as this one. The private seller states that the only items currently needing attention on his M3 are the horn, driver’s side mirror, and the AM/FM radio portion of the optional C43 Harmon Kardon head unit no longer works. This is a great unmolested example of what a BMW M3 is all about and prices are starting to climb for well maintain versions.  Fix the minor items, keep the maintenance up, and this M3 is sure to put a smile on your face with every drive.  They only thing we would change is the exterior color (to Estoril Blue) but that’s just us.  Good luck with the purchase!