M Coupe Buyers Guide

This week’s overview of what’s happened in the M Coupe market.

Most Popular Sales Listings

These are the cars that have been viewed most often this week:

2000 Alpine White over Dark BeigeBronx, NY - $18,900

1999 Imola Red over BlackWashington, DC - $25,000

2002 Steel Gray over Dark GrayCincinnati, OH - $34,990

2002 Estoril Blue over Estoril BlueZionsville, IN - $39,900

Best Deals

These are what I think are the best deals still available that are not already on the most popular list. The lesson is to act fast as a lot of the cars I would put on this list don’t make it till the next Friday before being snatched up.

1999 Arctic Silver over BlackPA - $15,000

2000 Imola Red over Imola RedChandler, AZ - $16,500

1999 Arctic Silver over BlackCincinnati, OH - $16,990

2000 Titanium Silver over EstorilProvidence, RI - $17,000

Sold This Week

Here are the cars that appear to have gone to lucky new owners this week.

• 2000 Cosmos Black over Black
  List Price: $16,000 – Sold Price: Unknown
• 2001 Black Sapphire Metallic over Black
  List Price: $26,900 – Sold Price: Unknown
• 1999 Arctic Silver over Dark Gray
  List Price: $20,500 – Sold Price: Unknown
• 2000 Imola Red over Dark Beige
  List Price: $14,000 – Sold Price: $14,000

This week’s overview of what’s happened in the M Coupe market.

Most Popular Sales Listings

These are the cars that have been viewed most often this week:

2002 Estoril Blue over Estoril Blue
Zionsville, IN - $39,900

2000 Imola Red over Dark Beige
Fitchburg, WI - $14,000

1999 Arctic Silver over Dark Gray
Laurel Canyon, CA - $18,500

1999 Arctic Silver over Dark Gray
Bedford, TX - $23,499

Best Deals

These are what I think are the best deals still available that are not already on the most popular list.

2000 Imola Red over Imola Red
Chandler, AZ - $16,500

2000 Titanium Silver over Estoril
Providence, RI - $17,000

1999 Arctic Silver over Imola Red
Kennett Square, PA - $19,850

1999 Estoril Blue over Dark Beige
Woodland Hills, CA - $23,000

Sold This Week

Here are the cars that appear to have gone to lucky new owners this week. Some of these sold earlier, but I only heard about them this week.

• 1999 Imola Red over Imola Red
  List Price: $7,000 – Sold Price: $7,500
• 2002 Estoril Blue over Estoril Blue
  List Price: $26,900 – Sold Price: $26,900
• 2000 Imola Red over Imola Red
  List Price: $17,900 – Sold Price: Unknown
• 1999 Arctic Silver over Black
  List Price: $13,800 – Sold Price $13,800
• 2000 Titanium Silver over Dark Gray
  List Price: $20,995 – Sold Price: Unknown

While most of us are searching for the perfect color combination, there are many other things to look for in an M Coupe. To start, look for a complete set of maintenance records, so you can judge the car’s service history and verify its mileage. You should also consider ordering a title report from AutoCheck® or Carfax to verify a clean title and make sure there are no unknown accidents in its history. A Pre-Purchase Inspection by a mechanic knowledgeable of these cars is also a must regardless of the coupe’s apparent condition and mileage. Any inspection should include the usual checks for engine compression, cosmetic flaws, body and chassis corrosion, accident damage, malfunctioning accessories, etc.

There are many things specific to the M Coupe that should be checked as well. The list below encompasses most of the common issues you should be aware of and have checked out when looking to purchase an M Coupe. It was originally compiled by wildag (www.dreamingwell.com) in this Bimmerforums thread. I’ve edited it to be more coupe specific and added a few of my own thoughts.  I plan on editing and adding to it as I come across more information.

Water Pump:
The water pumps on Z3s fail like clock work around 60k. If the car is over 50k, and hasn’t had the water pump replaced, expect to replace it. The usual symptom of a failing pump is a noisy bearing. I highly recommend to upgrading to a water pump with a metal impeller like the one from Stewart. Part costs ~$150 and labor is 2 hours. (Water Pumps on Ebay)

Differential Mount and Trunk Floor Welds (Subframe Failure):
This I’m sure is the issue you are probably most aware of. As far as I can tell, the problem is not as widespread as you may have been led to believe, although it could be a significant problem. The issue is commonly referred to as subframe failure which is kind of a misnomer. The Z3’s differential mount and rear trunk floor welds are prone to tearing. To inspect, remove the carpet in the trunk and look for spot welds along the back floor. These spot welds should be little flat circles. If they are sunk, or cracked, there will soon be a problem. Under the car, look at the C shaped mount to which the differential is bolted. Inspect for tears in the corners of C. Also look at the bottom of the trunk floor for signs of tearing or separation.

Randy Forbes and Dinan both have kits that strengthen the diff mount and trunk floor. These can be used as a preventative measure. A comparison of the two kits is discussed here. If the coupe you are looking at has been reinforced, it’s a really big plus.

A lot more information can be found in this Bimmerforums thread and the Z3Power Website.

Alignment Bushings and Brake Pads:
While driving the car at least 40mph, lightly hold the steering wheel and press the brakes with force. If the car swerves, or does not stop in a smooth straight line, you’ll need to inspect the following: front control arm bushings, tie rod bushings, brake pads and rotors. The control arm and tie rod bushings may be cracked or broken, causing extra “play” in the steering alignment. The brake pads and rotors may be too worn or warped.

Rod Bearing Failure (2001-2002 M Coupes):
The S54 engine in 2001-2002 M Coupes had a very significant design flaw that can be fatal to the engine. The rod bearings on the crank shaft can become misaligned, causing the crankshaft to move out of alignment. Replacing these bearings with an updated version is a permanent, but costly fix. All S54 owners should ensure that this problem has been corrected. BMW covered this problem under warranty on other models, and has been known to cover this issue on a case-by-case basis for the Z3. If purchasing an S54-engined M Coupe, check the maintenance records to see if either the bearings or entire engine have been replaced. Expect to pay $800-$1200 to have it done on your own dime.

Manual Transmission Shifting:
The manual transmission shift lever may lean to the right (5th gear) or may be difficult to put in 1st and 2nd gear. This indicates worn shift pins, most often due to excessively aggressive driving or mileage. Replacement parts cost around $100. It could also mean the 5th gear detent needs to be replaced. The transmission needs to be removed and special tools are required for either of these services. BMW does not publish service instructions for the Z3 transmission, so a seasoned transmission specialist will need to be consulted. These issues may sometimes be resolved with a simple fluid flush and change.

Slight Seat Rocking:
With hard acceleration or braking, both the driver’s and passenger’s seat may rock slightly. This is caused by two very soft rubber bushings that have deteriorated. You can order a fix it kit from Doug Whalen or find one on Ebay. It takes about 3 hours to fix both seats. (Seat Bushings on Ebay)

Dash and Center Console Lights:
The lights behind the gauge cluster and HVAC controls in the center console may burn out. The lights themselves are very cheap, but replacement can take a few hours.

Check that dash and center console lights are illuminated when the head light knob is pulled out. If they do not illuminate, try turning the head light knob in either direction. If the lights dim heavily when they’re supposed to be lit, do not have a consistent slope of illumination or are completely dark, the head light knob circuit needs to be replaced. Parts are about $90 and installation takes an hour.

A/C Control:
Check that turning the “hot/cold” HVAC knob (center) has the desired effect. If the knob turns very easily, or not at all, there’s a problem with the tension cable. If the knob moves too easily, the HVAC control may need to be replaced for about $150. If the knob doesn’t move, especially from hot to cold, the tension cable needs to adjusted; 2 hours of work.

Check that turning the fan speed knob (right) has the desired effect on all 5 settings. If the knob only works on the upper most settings, its likely that a resister in the fan control has broken. Parts cost about $30 and require 2 hours of labor.

Blown Speakers:
Check that the stereo speakers all sound normal. The subwoofer and kick-panel speakers will degrade over time. The subwoofer is very expensive to replace, but there are many aftermarket options. The kick panel speakers can be replaced easily.

Sagging, Squeaky Glovebox:
The glovebox may sag, or not align correctly when closed. This is caused by poor design of the glove box door and latch. This can be fixed for about $20, and 2 hours of work. (Glovebox Fix Kits on Ebay)

Rear Shock Mount Bushings:
The rear shock mount bushings wear quickly in spirited driving. You will hear a solid “clunking” sound inside the cabin from either side of the rear. This indicates that these bushings have worn and need to be replaced. Parts cost ~$30. While Roadster install time is around 2 hours, Coupes require disassembling almost the entire trunk carpet, and therefore takes around 3 hours. I would suggest installing Rouge Engineering Rear Shock Mounts, as they will allow much easier replacement of these bushings in the future.

Parking Brake Cable Tension:
The parking brake cable can stretch over time. This may cause the parking brake to not fully engage, and the cable may rattle against its retainer clips during normal driving. The rattling sound will appear to come from outside the car and over the driver’s left shoulder. The cable can be re-tensioned using simple tools; takes about 30 minutes to learn. In some cases, a retaining clip and spring inside the rear wheel hubs may have failed, causing the rattle. These can be replaced for ~$20 and take about 30 minutes.

Uneven Tire Wear:
Moderately uneven tire wear on all four tires is normal. The factory recommended camber and toe setup will cause this uneven wear. Tires that are heavily worn on only on one side of an axle indicate a suspension geometry problem. This may be due to sagging springs, bent arms or NASCAR circuit driving. These kinds of issues can be quite costly, and should be remedied before purchase.

Thanks again to wildag for initially compiling this list and allowing me to post it here. Please let me know if I’ve missed any other issues that M Coupe shoppers should be aware of in their search.

This week’s overview of what’s happened in the M Coupe market.

Quite a few coupes sold in the last past week, but there are still many available. If you’re a buyer, it’s a great time to be in the market as there is a lot of selection. I still think many of the S54 coupes are pretty overpriced. You need a unique color combination or <25,000 miles to fetch over $30,000 these days.

Most Popular Sales Listings

These are the cars that have been viewed most often this week:

2001 Estoril Blue over Estoril Blue
Richmond Hill, ON - $39,900

2000 Titanium Silver over Estoril
Providence, RI - $17,000

2002 Phoenix Yellow over Black
Woodbridge, ON - $33,000

1999 Estoril Blue over Dark Beige
Richmond Hill, NY - $12,000

Best Deals

These are what I think are the best deals still available that are not already on the most popular list.

2000 Imola Red over Imola Red
Chandler, AZ - $16,500

1999 Arctic Silver over Imola Red
Kennett Square, PA - $19,850

1999 Imola Red over Black
Washington, DC - $25,000

2000 Imola Red over Imola Red
Alexandria, VA - $16,900

Sold This Week

Here are the cars that appear to have gone to lucky new owners this week. Some of these sold earlier, but I only heard about them this week.

• 2000 Cosmos Black over Dark Beige Oregon Turbo
  List Price: $32,000 – Sold Price: Unknown
• 2000 Matte Black over Dark Beige Oregon
  List Price: $16,400 – Sold Price: $11,000
• 1999 Cosmos Black over Black
  List Price: $22,500 – Sold Price: Unknown
• 1999 Cosmos Black over Imola Red S50
  List Price: $23,000 – Sold Price: $21,000
• 1999 Imola Red over Imola Red
  List Price: $14,500 – Sold Price: $14,500
• 2002 Laguna Seca Blue over Dark Gray
  List Price: $32,900 – Sold Price: Unknown
• 2000 Cosmos Black over Black
  List Price: $16,000 – Sold Price: Unknown
• 2000 Estoril Blue over Black
  List Price: $15,950 – Sold Price: Unknown
• 2001 Black Sapphire over Black
  List Price: $21,000 – Sold Price: Unknown
• 2000 Cosmos Black over Black
  List Price: $18,990 – Sold Price: Unknown
• 2001 Steel Gray over Black
  List Price: $18,000 – Sold Price: Unknown

2001 Estoril Blue M Coupe - Production Date: August 9, 2000

Last week, I came across this 2001 Estoril Blue M Coupe in Richmond Hill, ON, Canada that besides its great condition and very low mileage did not appear otherwise significant. The seller makes mention that this particular car is one of twelve pre-production S54 coupes. I had never heard of such a thing and decided to see what I could find out. After some research and consulting with a couple resident coupe experts Z3Couper and JoshS, we determined that there were indeed twelve S54-engined coupes produced in 2000 starting as early as March 16, 2000. Here’s how we came to this conclusion.

JoshS remember reading a Roadfly posting about a similar car years ago and even more amazingly was able to find it again. This Roadfly posting details the purchase of LK60000: a Laguna Seca Blue over Laguna Seca Blue M Coupe with an S54 engined built on April 12, 2000. There’s a little more information about it in this Roadfly posting as well. While it has the lowest VIN number of all S54s, it appears that both LK60001 and LK60002 were produced before it in March of 2000, and LK60003 was produced two days prior on April 10, 2000. The buyer goes on to say on the CarFax  report it says it was first imported into New Jersey on January 2, 2003. The buyer thinks the car may have been sent to Germany to shake down as a pre-production unit. We’re speculating it may have always been in the U.S., but because the factory is a foreign trade zone, in order to make it sell-able, it required some special paperwork to have it “imported”. New Jersey happens to be where BMW NA is based. The buyer mentions it had never been titled before despite being almost 3 year old, so it appears that some of these cars (maybe all) were sold as CPOs directly by BMW NA once they were finished with them.

After looking through the M Coupe production data, I guessed the estoril blue coupe pictured above was VIN LK60004 (as he says it was the 5th of 12) and was later able to confirm this with the seller. It then follows with the conclusion that these twelve cars are VINs LK60000-LK60011. Here’s they are:

• LK60000 – April 12, 2000
  Laguna Seca Blue over Laguna Seca Blue
• LK60001 – March 29, 2000 (Canadian Version and sunroof-delete)
  Titanium Silver over Black
• LK60002 – March 16, 2000 (sunroof delete)
  Imola Red over Dark Beige
• LK60003 – April 10, 2000 (sunroof delete)
  Steel Gray over Kiwi (?)
• LK60004 – August 9, 2000 (Canadian Version and the car pictured)
  Estoril Blue over Estoril Blue
• LK60005 – August 18, 2000
  Titanium Silver over Black
• LK60006 – August 29, 2000 (Canadian Version)
  Steel Gray over Kiwi (?)
• LK60007 – September 5, 2000
  Imola Red over Imola Red
• LK60008 – August 29, 2000 (sunroof delete and 1 of 1)
  Laguna Seca Blue over Dark Beige
• LK60009 – August 30, 2000
  Steel Gray over Imola Red (!)
• LK60010 – September 11, 2000
  Steel Gray over Imola Red (!)
• LK60011 – September 15, 2000
  Black Sapphire over Dark Gray

There are a few interesting things to note about this particular group of cars:

• First, they were all built before the restart of coupe production on February 12, 2001 after a 5 month hiatus between S52 and S54 models.
• It’s absolutely confirmed that 2 of them have S54s and are considered 2001 model year cars, and they all have model year 2001 VINs ending in 1LK60xxx.
• 7 of the 12 have paint colors only available in S54 cars yet are not marked as special orders like the S52 coupe in steel gray for example.
• The only 2 coupes with Kiwi interior are in the list. Perhaps this was a color they were considering offering then changed their mind.
• The list includes 2 of the 23 steel gray over imola red coupes I would love to have one of.
• The list includes the only Laguna Seca Blue over Dark Beige Oregon coupe.
• LK60004 appears to have (as far as I can tell from the photos) all the S54 coupe upgrades as outlined in my article “Year Makes All the Difference“, but it is unknown if any of the other cars were fully upgraded or have some combination of available options (or potentially never publicly available options). There’s a mention of LK60000 perhaps not having chrome shadow wheels, having flat rather than the later curved badges, black rather than chrome trimmed rear-view mirror, and relocation of the AC and recirclating  switches.

I guess there really is always something new to learn. If you own any of these cars, I would love to hear what you know about their history and any interesting trim pieces or options. Finally, if you’d like to own one of these very special cars, details of the car pictured above can be found here.

Update: I’m starting a list of the cars that I can confirm made it to the public. Let me now of any others you know about.

• LK60000 (Roadfly threads above)
• LK60004 (pictured car)
• LK60007 (Bimmerfest Thread from 2003)
• LK60008 (Bimmerforums Thread from 2009-2010)

This week’s overview of what’s happened in the M Coupe market.

There are more M Coupes for sale right now than I ever thought I would see at any one time. If you’re a buyer, it’s a great time to be in the market as there is a lot of selection. As a seller, you may need to consider adjusting your price or do something else to make your car stand out from the large crowd. Coupe buyers seem to be unwilling to pay the $10k premium for S54 cars any longer and most of the cars priced over $30k have not had much success in recent months.

Most Popular Sales Listings

These are the cars that have been viewed most often this week:

2002 Laguna Seca Blue over Gray
Mooresville, NC - $32,900

2002 Steel Gray over Imola Red
Arvada, CO - $49,500

2002 Black Sapphire over Imola Red
Washington, DC - $25,000

2000 Titanium Silver over Black
Rockville, MD - $23,800

Best Deals

These are what I think are the best deals still available that are not already on the most popular list. If you’re looking for a well priced imola red M Coupe, head to Washington, DC.

1999 Imola Red over Imola Red
Washington, DC - $14,500

1999 Imola Red over Black
Washington, DC - $25,000

2000 Imola Red over Imola Red
Alexandria, VA - $16,900

2000 Titanium Silver over Estoril
Providence, RI - $17,000

Sold This Week

Here are the cars that appear to have gone to lucky new owners this week.

• 1999 Estoril Blue over Dark Beige Oregon
  List Price: $10,991 – Sold Price: Unknown
• 2002 Steel Gray over Dark Gray 🙁
  List Price: $21,998 – Sold Price: $21,998
• 2000 Cosmos Black over Black
  List Price: $24,000 – Sold Price: $22,500
• 2000 Cosmos Black over Dark Gray
  List Price: $14,987 – Sold Price: Unknown

2002 BMW M Coupe - $21,998

Pictured above is the first coupe I ever actually tried to buy in my 5 years of searching (click here for more photos). My 5 week-old daughter woke me up at 5:30 this morning, and I decided to drag myself out of bed. Before starting work, I did my morning nationwide M Coupe search and this car came up at a CarMax near Los Angeles. I immediately called them knowing they obviously would not be open at 4:30 AM local time, but deals like this on a car I want, do not come up often and I wanted to get my name in first. I left a message on my first call, sent an email through their website, then proceeded to call every 15 minutes to half hour until the store closer to me in Colorado Springs opened at 9 AM.

I had never dealt with CarMax before as the Colorado Springs store is 2+ hours away, and I honestly didn’t know it was even there. I primarily just had questions about their inspection, warranty, etc. and didn’t want to wait until the California store opened to ask them. After all, I had already been staring at the photos, looking for flights, planning my route home, and not getting any work done for 3.5 hours. The guy I talked to informed me about CarMax’s ability to do transfers between stores because CarMax is not franchised but has one parent company. He also enlightened me to the fact that if you purchase a car from a dealer in California, you pay sales tax to California whether or not you’re going to register it there. In essence, you would be paying sales tax twice. He said the transfer fee would be far less than paying California sales tax (not true, see comments below). Now that I was convinced I should have it transferred rather than flying out to get it, he put in the transfer request which was then immediately rejected because the car was non-transferable. CarMax did not have the title in hand yet, and Colorado consumer protection laws won’t let dealers sell you a car without a title. He said to wait until the dealer selling it opened and talk to them directly if I was willing to fly out and buy it in person.

I continued to try the California dealer’s number every 15 minutes until someone finally picked up. Somehow the salesman I talked to (who said he was one of 50 there), had already had 2 calls on it before me. One of which was from Cincinnati who I immediately knew was Enthusiast Auto. I told him I had cash and could fly out tomorrow to come get it. He started to put in my order but said someone had already put in a transfer request to Ohio. I told him I had tried to do the same thing a while earlier but was told it was non-transferable. He said it shouldn’t be able to be transferred and would talk to their business department and tell them he had a cash buyer. He also said that his particular CarMax didn’t sell to dealers which gave me a little hope. After quite a bit of back and forth and a call to the business department directly, I learned that Ohio allows transfers without title, the Cincinnati dealer opened 2 hours before mine and his formal transfer request was slightly before mine, they do “sometimes” sell to other dealers, and the car was sold.

What I learned:

• Sometimes you can be prepared, get an early start, do everything you can do, and still not be able to get the car you want.
• CarMax sales people are very helpful and informative (although not completely truthful) when they have a car they think they can sell to you but lose interest quickly.
• CarMax does not know how to handle cars that generate nationwide interest.
• It’s not the time you first call or email, but when you actually get a hold of someone and put in a formal request to buy a car that matters.
• Consumer protection laws sometimes only protect you from the car you’ve been seeking for years.
• CarMax buyers on the East Coast have a large advantage when looking for cars on the West Coast. I’m not sure if in the future I can call an Eastern time zone dealer and put in a transfer request then have the transfer request switched to my dealer later? I have a feeling I’ll never have another opportunity to find out.
• Steel gray over gray at the right price, can make me compromise on my search for steel gray/imola. I’m not sure any other color combination could, and I don’t see a deal like this ever happening again.

I guess it wasn’t meant to be. Life goes on. The search continues…

If you’ve been shopping for an M Coupe and need a loan, you were probably very surprised by what the bank told you your dream car was worth. Most banks are now willing to loan 90% of the Kelley Blue Book price for a used car (if you have good credit). The problem is KBB says the car is worth about half of what the market says. Some banks may be willing to look at Edmunds True Market Value or NADA price quotes as well, but they really are not a whole lot better.

These organizations’ price estimates are largely based on a simple depreciation scale  rather than the market and seem to no way factor in rarity, desirability or collectability. KBB does not even seem to factor in the S54 engine in the later cars. For an example, my personal dream coupe gets docked for not having a sunroof and for being Steel Gray. It obviously does not seem to gain anything by being one of two made in its configuration, a final model year car, having the S54 engine, ridiculously low miles, etc. A similar M Roadster is actually estimated higher as convertibles are typically more desirable in the average market, but that’s certainly not the case in the M Z3 market.

“KBB says…” is probably the most annoying phrase ever uddered to an M Coupe seller as well. Potential “buyers” expecting to buy an M Coupe at KBB value will be sorely disappointed. I don’t blame those sellers who don’t even return communication of any interested parties that even mention that phrase. For those reading this, know that this is not a bargaining point. If you are able to find a coupe priced at blue book, buy it and consider yourself lucky as it’s a rare occurrence by uninformed sellers.

Some coupe owners have talked to Edmunds about their low estimates, but no one really has any solid data to back up what is the market value. That’s one of the reasons I’m trying to collect sale prices on M Coupes. Perhaps in the future we can have some more realistic numbers from these organizations.

Here are some examples I ran of similarly optioned, relatively stock coupes (I won’t even get into modification values) of various years and mileages currently on the market that I think are priced fairly versus their suggested retail value as given by each of the three organizations:

2002 M Coupe - 7,000 miles

2002 M Coupe

7,000 miles
Condition: Excellent
Private Party

Asking Price: $49,500
Kelley Blue Book: $16,820 (I wish!)
NADA: $25,025
Edmunds TMV:$22,141

2000 M Coupe - 13,505 miles

2000 M Coupe

13,505 Miles
Condition: Excellent
Dealer Retail

Asking Price: $23,800
Kelley Blue Book: $16,280
NADA: $20,400
Edmunds TMV: $15,186

2000 M Coupe - 67,142 miles

2000 M Coupe

67,142 Miles
Condition: Good
Private Party

Asking Price: $17,000
Kelley Blue Book: $10,880
NADA: $14,325
Edmunds TMV: $11,635

1999 M Coupe - 56,980 miles

1999 M Coupe

56,980 Miles
Condition: Excellent
Private Party

Asking Price: $19,850
Kelley Blue Book: $10,710
NADA: $13,800
Edmunds TMV: $10,758

1999 M Coupe - 118,000 miles

1999 M Coupe

118,000 Miles
Condition: Good
Private Party

Asking Price: $15,900
Kelley Blue Book: $6,960
NADA: $10,625
Edmunds TMV: $8,020

Me and My Dream

The problem with starting with perfection is that it’s hard to settle for anything less. That’s the problem I’ve run into.

Last Sunday, my wife and I went to her cousin’s graduation party in Denver, CO. We were only a few miles north or where “My Perfect M Coupe” lives, so I contacted the owner Glenn to see if we could swing by so my wife could see it (and I could see it again). My wife had never seen a steel gray M Coupe in person before and photos just do not do it justice (but that’s a whole other article). I felt I had to justify to her why I stare at photos of it all day. Glenn was gracious enough to oblige, so we headed over to his house. The coupe is usually in the back of his tandem garage covered and surrounded by Styrofoam panels. Needless to say we had to move a lot of stuff (including his beautiful 1996 Viper GTS) to get to it. He pulled it out of the garage to let us look it over in the sunlight. We oohed, aahed and took photos for a while until his wife got back and could watch their daughter. He then took me for a ride in the foothills behind his house.

In Awe

After a great ride he very unexpectedly pulled over and called a “Chinese fire drill”. I have to say it was probably the most exciting car moment of my life. Believe it or not, I had never actually driven an M Coupe before despite having this entire website devoted to them. I had driven a Z3 Coupe 3.0, an S52 M Roadster and an S54 M3. I had just assumed an S54 M Coupe would be the perfect combination of the three, and I wasn’t disappointed. He said I was the only other person to drive it since he got it which made me feel especially honored. When we were leaving, my two year-old son went over to the coupe and called it “Daddys”; I’ve never been so proud.

Before that day I had been semi-considering compromising my long search for steel gray/imola and pursuing one of the other coupes currently listed. There are a lot of choices and some very good deals on great cars right now.  Seeing his car again, and then driving it, has ruined me for all other coupes. It only reaffirmed my dream color combination, and convinced me to do what I can to try to make this special car mine.

Thank you Glenn! And a special thank you to my wife for being willing to keep our 2 year-old and 4 week-old up late, so I could live out a dream.

Our A3 Among Friends

Back Sides

This week’s overview of what’s happened in the M Coupe market.

Most Popular Sales Listings

These are the cars that have been viewed most often this week:

2000 Titanium Silver over Black
Rockville, MD - $23,800

2002 Black Sapphire over Imola Red
Washington, DC - $25,000

1999 Cosmos Black over Imola Red
Baltimore, MD - $23,000

2000 Titanium Silver over Gray
Boulder, CO - $20,995

Best Deals

These are what I think are the best deals still available that are not already on the most popular list:

1999 Imola Red over Black
Washington, DC - $25,000

2000 Imola Red over Imola Red
Alexandria, VA - $16,900

2000 Titanium Silver over Estoril
Providence, RI - $17,000

1999 Arctic Silver over Imola Red
Kennett Square, PA - $19,850

Sold This Week

Here are the cars that appear to have gone to lucky new owners this week.

• 1999 Imola Red over Imola Red
  List Price: $11,500 – Sold Price: Unknown
• 1999 Estoril Blue over Black
  List Price: $18,999 – Sold Price: Unknown
• 2000 Oxford Green over Dark Beige
  List Price: $23,500 – Sold Price: Unknown
• 2002 Titanium Silver over Imola Red
  List Price: $31,000 – Sold Price: Unknown
• 2000 Cosmos Black over Black
  List Price: $8,500 – Sold Price: Unknown

Over the past week I’ve been working on a couple more new features for the site.

Market Research

This was a feature that was immediately suggested when I first posted the sale listings. I think it is a great idea and will be really cool to see as time goes on and it matures. What I’m trying to do is provide some useful stats for BMW M Coupe shoppers and fanatics based on my Sale Listings database. As times goes on, this data should get increasingly interesting and useful.

I’m very open to ideas of cools ways to display the data I’ve collected so far. I think I’m only at the tip of the iceberg as far as what I can do with this, but the first couple things I have attempted are as follows:

• Sales Trends
  Charts number of M Coupes for sale and sold over time
• Price Trends
  Charts averate asking price of M Coupes over time
• Price vs. Mileage Charts
  Scatter plot of both currently listed coupes and recently sold coupes with simple trendlines

I think the most useful data in the database is the sale prices of coupes. Aside from Ebay auctions, these are hard to come by unless they are volunteered. Please contact me through my site if you’re willing to contribute the price you recently paid for your coupe. More data is better data.

Find Coupe Stuff

As with any coupe lover, I don’t just love coupes, I like everything to do with coupes. Like many, I regularly watch Ebay and Craiglist for “Coupe Stuff” like scale models, brochures, magazines featuring the coupe, etc. Ebay recently added some ways to embed searches, so I’ve embedded some of my favorites as well as some popular parts and accessories for current or soon-to-be coupe owners. If you have ideas of other searches you think would be handy, let me know. So far I’ve setup:

• Cars
• Parts & Accessories
  • Glovebox Fix
  • Aftermarket Headlights
  • Clear or Smoked Corner/Bumper Lights
  • Springs & Coilovers
  • Wheel Spacers
  • Car Covers
  • LeatherZ Accessories
  • Aftermarket Pedals
  • Grilles
• Repair Manuals
• Scale Models
• Magazines & Brochures
• BMW M Apparel & Merchandise
• BMW & M Banners/Flags

This week’s overview of what’s happened in the M Coupe market.

Most Popular Sales Listings

These are the cars that have been viewed most often this week:

1999 Imola Red with Imola Red Interior
San Francisco, CA - $11,500

1999 Cosmos Black over Imola Red
Baltimore, MD - $23,000

2000 Imola Red over Imola Red
Chandler, AZ - $18,500

2002 Estoril Blue with Black Interior
New Hyde Park, NY - $31,000

Best Deals

These are what I think are the best deals still available that are not already on the most popular list:

2000 Titanium Silver over Estoril
Providence, RI - $17,000

1999 Arctic Silver over Imola Red
Kennett Square, PA - $19,850

2000 Titanium Silver over Dark Gray
Boulder, CO - $20,995

2002 Sapphire Black over Estoril
Macon, GA - $24,500

Sold This Week

Here are the cars that appear to have gone to lucky new owners this week. The first car was only on the market 5 days; the second for almost as long as I can remember.

• 2001 Titanium Silver over Black
  List Price: $24,000 – Sold Price: Unknown
• 2001 Laguna Seca Blue over Laguna Seca Blue
  List Price: $31,900 – Sold Price: Unknown
• 2000 Alpine White over Black
  List Price: $29,950 – Sold Price: Unknown

This week’s overview of what’s happened in the M Coupe market.

Most Popular Sales Listings

These are the cars that have been viewed most often this week:

2002 Steel Gray over Imola Red
Arvada, CO - $49,500

1999 Cosmos Black over Imola Red
Baltimore, MD - $23,000

2000 Estoril Blue over Black
Santa Barbara, CA - $18,999

2002 Steel Gray over Imola Red
Los Angeles, CA - $59,995

Best Deals

These are what I think are the best deals still available that are not already on the most popular list:

1999 Imola Red over Imola Red
San Diego, CA - $11,500

2002 Titanium Silver over Imola Red
Saskatoon, SK - $31,000

2000 Titanium Silver over Estoril
Providence, RI - $17,000

2000 Imola Red over Imola Red
Chandler, AZ - $18,500

Sold This Week

These are the cars that went to lucky new owners this week. All of them were on the lower end of the S52 market besides the Imola one which had a few nice upgrades.

• 1999 Arctic Silver over Black
  List Price: $15,800 – Sold Price: Unknown
• 2000 Estoril Blue over Estoril Blue
  List Price: $19,800 – Sold Price: $19,800
• 1999 Estoril Blue over Estoril Blue
  List Price: $11,990 – Sold Price: Unknown
• 1999 Imola Red over Black
  List Price: $22,500 – Sold Price: Unknown

I just added a new feature to my sales listings database, a sold cars list. Just click on the “Recently Sold” link under “Sale Listings” at the top of the page. The listings are still sortable and searchable with new orderable fields added of Sales Date and Sale Price. I think these listings should be helpful for a couple things:

• following the coupe market both in terms of the type of cars selling and their sales prices
• if you see a car listed on one of the classified sites that I don’t have listed in my for sale listings, you can check it against the sold list (I typically update my site faster than most of the classified sites do)

This feature will only be as helpful as the new buyers of these cars are. If you are willing to share the price you recently paid for any of the cars, please let me know. This will be a great help to both buyers and sellers in the future. Hopefully this will give new sellers an idea of what they can price their car at and buyers an idea of what they should pay for their perfect coupe. I will say to buyers, be willing to pay a little over market price for your perfect coupe. You don’t want someone else to buy it before you. Also let me know of any other features I should add to make it more helpful to you.

Many people have noticed that the two M Coupes in the color combination I want happen to be by far the highest priced. Bad luck? Ironic twist? Or victim of a conspiracy? The so called “Coupe Cartel” was specifically created for coupes such as these. The cartel believes M Coupe prices should start at $60,000 and seems to have succeeded with these two. Here’s where it all started…

History

According to an inside source, the cartel originated on the Roadfly forums in November 2002 with a group of original S54 M Coupe owners. The concept was pitched by “Polar Bear” (Neal Zimmers who ironically owned a 1999 with the S52 engine), it was later named by “marauder” (Chaz the creator of 368s.com), it was seconded by “MDork” (who created Dorkfest), and the price point was suggested by “dp” (Dennis Palatov of palatov.com and dpcars.net). The pitch went something (exactly) like this:

I was thinking (dangerous habit) there’s few enough S54 M coupes that will a little work, the owners could collude on prices and try and bring the resale value up…….

there’s what, maybe 500-600 S54 coupe owners?

And so it began…  This small group had no idea the far reaching effects this one innocent thread would have, and the impact it would have on this poor M Coupe lover almost 8 years later.

The original thread can be viewed here.

The Coupe Cartel Today

The cartel pricing policies are pushed today by many coupe owners including all E36/8 coupes – Z3 and M. Many not even knowing the true history. One of the most ardent promoters of the cartel philosophy is “Z3Couper” (Jeremy) who owns www.coupecartel.com. You may have noticed his silver coupe he sold last fall for $17,750 still posted on AutoTrader at the cartel price of $60,000. He only recently formally joined the cartel with the purchase of a beautiful 2002 Laguna Seca Blue coupe, but that hasn’t kept him from quickly rising through the ranks. He uses his cartel site for vile deeds like designing beautiful M Coupe t-shirts and wall vinyls for the coupe community. One of which I wore recently when my daughter was born (thought she should be introduced to the coupe early). He’s currently offering a cool “Coupe Cartel” vinyl sticker. Check it out:

Coupe Cartel Vinyl Sticker

Am I Truly a Victim?

Having seen the Colorado coupe in person, I would be hard-pressed to say it’s worth much less than asking. I will say it will take the right type of buyer. One who is willing to pay the same type of money for a coupe as he could also get a late model Porsche 996 Turbo, Lotus Esprit, Lotus Exige, C6 Corvette Z06 or even some Ferrari F355s. I would be that type of buyer…if I had the cash. I think the coupe will age better than some, is more practical than others, cheaper to maintain than most, and can be just as fun to drive.

Despite it’s very suspicious price of $59,995, I have seen no evidence of collusion in the price of he M Coupe listed in California. The seller also owns a Cosmos Black over Imola Red S52 coupe that he daily drives. The car listed is his fun car and I think he’s only listing it for the price he’d be willing to let it go for.

And that’s the real story of the Coupe Cartel. Obviously no collusion has ever happened, it’s just that very few people are willing to leave the cartel once they own a coupe. $60k may not be what their car is worth or what they could realistically be able to sell their car for, but it is what their car is worth to them. I can’t hold that against them. I’ve heard of coupe owners insuring their cars for as much as $100k just because that’s the consolation they would need should something happen to their prized coupes, and more than one has said his kids can try to pry his coupe out of his cold, dead hands. I, for one, know I will one day be a proud member of the Coupe Cartel.

So if you ever run into a high-priced coupe and hear it referred to as “cartel pricing”. You now know what they mean.

I’d like to thank “JoshS”, one of the very first coupe owners, for being my not so confidential source.