1989 BMW M3

2dr Coupe

4-cyl. 2302cc/192hp FI

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$65,700*

-0.6%
#4 Fair condition#4 Fair
Value Graph04/2407/2410/24$20k$40k$60kJan 2025
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1986-1992 BMW M3 (E30) stats
Highest sale
$207,500
Lowest sale
$29,642
Most recent sale
$118,650
Sales
100
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Model overview

Model description

In the mid-1980s, BMW tasked its Motorsport Division with homologating the E30 3 Series for Group A racing in Europe. Group A specs allowed minimal changes from cars produced in production runs of 5,000 units built for street use, so BMW’s M division reengineered almost every aspect of the 3 Series platform for a large production run. What emerged was the radically styled box-fendered M3 in 1986, with the hood and roof being the only bodywork shared with the standard 3 Series coupe.

Underneath the M3’s flared fenders was a thoroughly reworked front suspension as well as new BBS wheels, larger brakes, and larger tires. The 2.3-liter S14 motor started with a block similar to the one used in the 320i, and added a 16-valve head to produce 192 hp in North American trim. This free-revving powerplant motivated the M3 to the tune of a sub-7-second 0-60 dash and a 146-mph top speed that complemented its neutral and confidence-inspiring handling.

Almost 15,000 first generation M3’s were built from 1986-1992, with just over 5,000 coming to the U.S. from the middle of 1987 (as 1988 model year cars) until the end of 1991. Throughout the production run there were a myriad of changes to interior and exterior colors, and in 1990 changes to the North American cars included aluminum control arms, a driver’s side airbag, and the option of a glass sunroof.

Other than valve adjustments every 15,000 miles and occasional leaks in valve cover and oil pan seals, first-generation BMW M3s demand very little of their owners. Collectors should note that a very small number of E30 M3 convertibles made it to North America, as well as a handful of Euro-spec cars that can be identified by their differing transmission and shift pattern that includes a dog-leg first gear. Various special editions were available in Europe that included Evo I, Evo II, and Lightweight cars that were not offered in the U.S., however some gray market cars have found their way here.

Vehicle specifications

  • Wheel Base Shortest - Inches100.9
  • Wheel Base Longest - Inches100.9
  • Shipping Weight2865
  • Drive TypeRWD
  • Manufacturer NameBMW
  • Front Tire Size15R205
  • Manufacturer MSRP34950
  • Market SegmentationIndeterminate
  • Manufacturer CodeC116
  • Front Tire Size Code30

Equipment

  • StandardOptional
  • Transmission5 Speed Manual
  • Power BreaksPower Brakes
  • Power SteeringYes
  • EntertainmentAM/FM CASS
  • Air ConditioningYes
  • Power WindowsYes
  • Roof DescriptionPower Sun/Moon Roof
  • Anti-Lock BreakingAll Wheel
  • Restraint typeActive (Manual) Belts
  • Security EquipmentNone

Equipment

Standard

  • Transmission5 Speed Manual
  • Power BreaksPower Brakes
  • Power SteeringYes
  • EntertainmentAM/FM CASS
  • Air ConditioningYes
  • Power WindowsYes
  • Roof DescriptionPower Sun/Moon Roof
  • Anti-Lock BreakingAll Wheel
  • Restraint typeActive (Manual) Belts
  • Security EquipmentNone
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Common Questions

The value of a 1989 BMW M3 can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $65,700 for a 1989 BMW M3 in good condition with average spec.

The highest selling price of a 1989 BMW M3 at auction over the last three years was $107,486. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.

The lowest selling price of a 1989 BMW M3 at auction over the last three years was $40,950. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.

In the last three years there have been 11 1989 BMW M3s sold at public auction.

The most recent auction sale of a 1989 BMW M3 was $59,549 on December 17, 2024 by Collecting Cars.

Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.

Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.

Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.

The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.

All prices shown here are based on various data sources, as detailed in About Our Prices. The Hagerty Price Guide is for informational purposes only and is not intended as financial advice. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.com/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of The Hagerty Group LLC, ©2024 The Hagerty Group, LLC. All Rights Reserved. The Hagerty Group, LLC is a wholly owned subsidiary of Hagerty, Inc.