The 2002 BMW M3 Convertible sold for $14,500, which is strong money given its mileage and modifications.

This M3 is part of the iconic E46 generation and packs a punch with its 3.2L inline-6 engine, the S54, pushing out 333 horsepower. The convertible body style adds a layer of excitement to the driving experience, making it a favorite among those who enjoy open-air motoring. However, this specific car has its quirks: it features an automatic transmission, which is less popular among enthusiasts who often prefer the engaging feel of a manual. With 111,100 miles on the clock, this M3 is certainly on the higher end of the mileage spectrum for these cars. It comes with some notable modifications like an aFe air intake and Bilstein suspension, which could enhance performance and handling.

The bidding was quite competitive, with 25 bids suggesting there’s still plenty of interest in these models. However, the final price of $14,500 is 20% above the fair value estimate of $12,100. That’s a significant premium for an automatic, high-mileage variant, especially given its minor accident history and cosmetic wear. While some buyers might see value in the modifications and the convertible aspect, the price seems a bit inflated for what you’re getting.

Community feedback was mixed but insightful. One commenter noted, “If they are not properly maintained or abused or super high mileage I would shy away unless the price was right.” This highlights the importance of maintenance history, especially for a performance car like the M3. Another echoed that with the S54 engine alone being worth a good chunk of the final price, this could still be a fun investment for the right buyer.

For anyone in the market for a similar car, the key takeaway is to prioritize maintenance records. High mileage can be a red flag, especially if the car hasn’t been treated well. Look for documentation of regular servicing and any repairs done, particularly to the engine and transmission. Given the M3’s reputation for being sensitive to deferred maintenance, knowing the car’s history will help you avoid costly surprises down the line.

See all BMW E46 M3 listings on [Friday's Watchlist](https://fridayswatchlist.com/search?make=BMW&model=E46%20M3).