Sold 8/23/11 - It appears that it has sold already. Both the Craiglist listing and the Wheels and Deals listing are gone.

8/23/11 Update - Bimmerforums member manny328i drove by the lot and checked it out in person. He had this to say:

It's a "For Sale By Owner" lot btw so you negotiate directly with the seller. Car seemed in good shape from a quick glance, no obvious flaws, body and paint seemed ok.

He also posted a few photos that I've added below. I guess it is technically for sale by owner as the ad says.

If it has a clean title and in decent shape, this coupe is pretty well priced. The VIN checks out as imola red over black, but it's weird that the trim piece behind the seats is imola red. It's also kind of weird that it says for sale by owner but is listed by a dealership. In any case, it would probably be worth checking out if you're in the area.