Ask any BMW fan which M5 was the best and I’m willing to be the majority of answers will go to the E39 M5. Sure, the E60 holds a special place as well with its screaming V10 engine but the Bangle era looks make it hard to swallow for some. Then again, the E39 M5 could be used as an example of pure Bavarian design. It was the first car to introduce the iconic corona rings on a production model and, to this day, is considered a reference point in the history of the M brand, not just for its looks but also for the way it drives.
That being said, some would still argue that paying $176,000 for one should be considered blasphemy and yet, that’s exactly what happened this weekend at Pebble Beach, during an auction. A mint 2002 BMW E39 M5 with only 437 miles on the clock was sold for that exact sum to one very interested collector. The sellers were expecting anything between $140,000 to $180,000 which shows they were pretty spot on with their estimates.
The car is finished in Titanium Silver and has Black Nappa leather inside and a couple of other options and is part of the collection of a certain Glen Konkle. Among enthusiasts, he is know for purchasing two cars at a time whenever he decides he wants one. He does so just because he wants to keep one in storage, under controlled conditions while driving the other on a daily basis and this is exactly what happened here as well.
The car’s history shows that it was sold back in 2010 at auction, when it had about 69 miles on the clock, for some $48,400. The demand for such M models has gone up lately and even though the car has close to 500 miles on the clock today, that still didn’t take away any of its appeal as it is basically brand new still. Therefore, we arrive at the $176,000 sum which may be a lot for some but it definitely points to a trend, one that may turn a profit for you, if you still have a mint M5 in the garage.