AutoTrader Find of the Week: 1988 BMW E30 M3 Gets Better With Age

Some products nail it right out of the gate. The original Air Jordan sneaker. The iPhone. Star Wars.

This is not to say that future iterations didn’t improve the formula or the concept, but the first one is inarguably the most iconic. So iconic that when you say the name, it’s the original that comes to mind.

This doesn’t happen very often in the world of cars. In fact, outside of the Ford Mustang, you’re probably struggling to think of any car model in which the first generation is the most iconic.

This immaculate 1988 BMW E30 M3 for sale by Pfaff Automotive in Woodbridge, Ont., on AutoTrader is another fine example of an instant automotive icon.

And even though it’s the most lusted after M3, it wasn’t a sales success when it first launched in North America. While the M3 had been shaking up the European scene since 1986, North America didn’t get a version until ‘88, and it was clear BMW hadn’t educated its average American customer on what an M3 was.

Apparently, most buyers couldn’t tell the difference between the M3 and a standard 325i on paper — true enough, the M3 may have been up 20 horsepower to the 325i (oh, how times have changed), but it only scooted to 60 mph a mere 0.2 seconds faster than the 325i coupe.

In the showroom, the M3 certainly wasn’t as plush or well-appointed as the 325i, and it had a smaller engine. On test drives, the M3 was rugged and sharp compared to the 325i’s “buttery smoothness.” And the two models cost the same money, so the M3 mostly sat in the showroom.

Roughly 17,000 E30 M3s were built between 1986 and 1991, and of those, 5,300 were produced for North America, including 185 vehicles destined for Canada. However, of those 5,300 North American units, only 4,996 were purchased new in the U.S. The E30 M3 was such a sales flop in North America that BMW had an inventory overstock.

But as Car and Driver rightfully pointed out in its 1987 road test of the M3, what the country club crowd thought of the M3 didn’t matter. Because the M3 wasn’t for them — it was for the enthusiasts. 

In 1988, if you were the sort of person who was more concerned with your golf swing than your corner entry speed, you wouldn’t have noticed that the BMW M3’s iconic C-pillar was flatter and wider than on the normal two-door 3 Series, which improved its aerodynamics. The wider wheel arches with fenders and the iconic rear wing probably seemed gauche and unseemly. You certainly wouldn’t have heard about how BMW developed the car at some place called … the Nürburgring?

The high-revving 2.3L inline-four engine developing 200 horsepower coupled with a five-speed manual transmission probably did nothing for you. 

It’s a supreme irony that the E30 M3 was passed over by so many, not just because it has now exploded in value, but because it is so widely considered one of the most iconic and timeless pieces of automotive styling in the entire genre. 

Speaking of iconic, this example is finished in “Zinnoberrot” (or “Vermillion Red”) paint and features a tan leather interior — a colour combination so recognizable to the model that BMW uses it in its archive guide to highlight the model.

Originally sold new from Sharpe BMW in Grand Rapids, Mich., this E30 M3 stayed in the U.S. until late 2017, when it was imported into Canada. It’s not one of the original 185 Canadian M3s, but with just over 65,000 miles (around 105,000 km) on the clock, who could complain?

Pfaff claims the car comes with comprehensive service records dating back to when the vehicle was new and can provide “a detailed history and assurance of its well-maintained condition.”

Normally, I end these write-ups with something like, “Sure, you could buy a brand new M3 for the money it takes to buy this classic one, but this one is timeless, blah blah blah … ”

But I’m not going to talk you out of a new M3. If you’re buying the latest M3, you want that new-new. Nevermind that its grille looks like a beaver and a vacuum cleaner had a baby. Nevermind that it’s a big, heavy forced-induction-fed bruiser and miles away from the simple, analogue, visceral driving experience of the E30.

Just like everyone who bought a 325i in 1988, you won’t be convinced. 

But for the true enthusiasts out there, you don’t need to be convinced. You already know what you’re looking at. You always have. Because some things are timeless.