Despite low miles and desirable spec, this M5 does have one flaw
Ask the average BMW fan what the best M5 is, and most would probably vote for the E39. It represents BMW design at its peak, and its naturally aspirated V8 engine is the stuff of legends. Throw in a manual gearbox, remove the terrible reliability concerns of the newer E60 and the tech overload of more recent models, and the E39 is as perfect as it gets.
A 2003 example of this fine sports sedan has just come up for sale on Cars & Bids, and with two days to go, the high bid is nearing $60,000. This example has a desirable spec and extremely low miles, but how much is too much to pay for it? Read this before you place your bid.
Related: BMW’s Iconic E39 M5 Almost Had The Unlikeliest Engine
Unmodified and Barely Driven
2003 BMW M5
Finished in Carbon Black Metallic over Caramel Nappa Heritage leather, this E39 is stealthy on the outside and classically luxurious from behind the wheel. In place of the all-new M5’s garish interior lighting are glossy wood inserts, and everything—from the analog gauges to the angled center stack—is easy to figure out at a glance.
This M5 has covered just 18,700 miles, so there’s plenty of life left in the 394-horsepower V8. The car is unmodified, has a clean title, and includes equipment like a power sunroof, M Audio with enhanced bass, and a limited-slip differential.
2003 BMW M5
On the downside, this M5 was involved in one accident in 2019, which is explained in a Carfax history report. The front/right front of the car was damaged, but the photos suggest that it was flawlessly repaired.
“There was an accident on this car, which was in a parking lot,” said the seller. “The front right corner was damaged. There was paint work performed and bodywork to the front right corner. Also, the front right wheel and tire were replaced… but I will tell you the work is absolutely incredible.”
$6,000 in preventative maintenance was recently completed, so assuming this M5 is as good under the skin as it looks, it could be worth buying.
Related: 1999 BMW M5 Retro Review | A hero worth meeting
How Much Should You Pay?
This 2003 M5—the last model year for the E39 M5—had an MSRP of $70,400 when new. Demand for the E39 is high, given that it’s considered the best M5 ever built, in addition to its highly desirable V8 engine and manual gearbox.
Classic.Com indicates that the average sale price of 2003 BMW M5s over the last 12 months is $53,238, with the top sale being for one example that sold for $134,400. That’s a broad range which underlines the impact of mileage and condition on the sale price.
The following E39 M5s were sold or are currently on sale over the last few months, giving us an idea of what values are for the sports sedan:
|
Model Year |
Miles |
Price |
Listing |
|
2003 |
10,826 |
$155,990 |
DuPont Registry (currently for sale) |
|
2001 |
11,000 |
$102,730 |
|
|
2001 |
32,000 |
$65,000 |
|
|
2003 |
27,000 |
$62,500 |
|
|
2003 |
34,000 |
$61,000 |
The first example is currently for sale, while the others have been recently sold. While many E39 M5s in poorer condition and/or with higher miles have sold for under $40k this year, those in near-perfect condition with low miles sell for far more.
The black example here with 18,700 miles rates as one of the lower-mile examples, and it has a great spec. Without any accident damage, we would not be surprised to see it sell for over $75k, but this factor may prevent some from taking the plunge.
Assuming it has been repaired to its original condition, this could be a great opportunity to get behind one of the great BMW M cars for around $70k, a price that will get you a new 540i with a few options. It’s even quicker than this M5, but not nearly as involving or special to drive.
Bidding for this E39 ends on October 16.
