The 1988 BMW E24 M6: Getting respect as an emerging collectible classic?
A 1988 BMW E24 M6 sold for a whopping $90,000 at Mecum’s Monterey auction last week. The all-in hammer price with the buyer’s premium was $99,000. The car was finished in highly desirable Cinnabar Red with Natur interior. Having travelled a mere 25,000 miles it was an “A” example in excellent original condition. The only incorrect item was the aftermarket BBS-type wheels which replaced the oddball factory metric rims.
Only 1767 examples of the M6 were imported to America. The car was only officially available here in 1987 and 1988. For some unknown reason there was a handful of 89′ model year M6 cars imported into the U.S. and Canada in early 1989.
This is undoubtably a new high-water mark for the “shark-nosed” E24 M6. A valuation of nearly $100,000 moves the E24 M6 into an exclusive club of legitimate collector cars. Time will tell if this was a one-off late night alcohol-induced Mecum auction result or if the market will really continue to pay up for first generation M6 super coupes.
Turtle Garage contributor Eric Keller of Enthusiast Auto Group was quoted in recent Hagerty auction commentary on the Mecum M6 sale, “All in, the Mecum car was probably sold on the money,”
Makes me scratch my head and wonder what my 1600-mile 1988 E24 M6 is worth in this overheated bubble market?
Read the Hagerty article here.
BMW 6 series cars are gaining respect in the collector car media world.
BMW magazines are also focusing on the collectability of early MM cars.
Great sale Scott !!! You seem to located some very fine gems !!! I bought a 560sl a few years ago from you and it was a beautiful car. Way to set the bar on these M6 cars which were way undervalued until recently.
Your 1600 mile car is worth quite a bit more! I am the seller of the Mecum car for what it’s worth. And it’s not an overheated bubble. These values are here to stay. Enjoy your car and if you ever decide to sell it, I am a buyer.
By the way, the interior color of my car was actually Natur, not lotus White. Not that it mattered really.
🙂
Scott,
Thanks for the correction! That was a lovely car and you broke records. I’m just stunned by the prices, but I’m also stunned by all the central banks dropping rates and printing money in unison. Its driving price distortion in a lot of asset categories. But I agree, these are special cars and are probably going to continue a steady climb north. I will correct the story. Hope to meet you.
Philip