2003 BMW M3 (E46) Convertible Manual

Highlights

• Recognised modern classic

• 343bhp straight six engine

• Desirable six-speed manual

• Serious recent mechanical spend

• Genuinely used and properly sorted

Overview

Three pedals and an award-winning naturally-aspirated straight-six is a combination that E46 M3 buyers cannot resist and it's exactly what we have here. The convertible was always the rarer body, with BMW building fewer than 30,000 against a sea of coupes. Fewer still left the factory with the six-speed manual rather than the SMG, so a genuine manual drop-top like this is a real find.

This one hasn't spent 20 years polishing its alloys in a heated garage. It's just returned from the Le Mans Classic weekend, which tells you plenty about how it's used. This is a drive-anywhere M3, sorted and ready to enjoy..

It helps that the mechanical side has had proper, recent attention. We'll spare you the invoice-by-invoice recital, as the sections below cover that. The big wearing items have been dealt with lately, so the next owner can concentrate on driving.

The 3.2-litre S54 is the star of the show. At launch it had one of the highest specific outputs of any naturally-aspirated production engine, spinning to a 7,900rpm power peak. Time has been kind, too, and the E46 M3 is now a recognised modern classic.

Finished in deep metallic Carbon Black that throws blue highlights in the sun, over black M leather, it looks every inch the part. Manual, properly used and freshly fettled for the road. If you've been holding out for an E46 M3 Convertible you can actually drive, this is it.

History and Documentation

• First registered on 01 September 2003

• In current ownership since 2013

• Stamped BMW service book with recorded services at Sep 2003 (1,356 miles), Oct 2004 (10,806 miles), Oct 2005 (20,780 miles), Jul 2006 (32,374 miles), Nov 2007 (44,728 miles), Mar 2011 (48,773 miles), Jan 2013, May 2014 (75,607 miles), Jul 2017 (87,570 miles) and Jan 2025 (97,241 miles)

• Jan 2025 at around 97,200 miles: new in-tank fuel pump, new starter motor, new battery and an Inspection I service (engine oil and filter, cabin filter, brake fluid and coolant) by a marque specialist

• 2014: suspension refresh at a BMW specialist covering springs, spring pads, a trailing arm bush, drive belts and Mobil 1 oil

• Mar 2022: alternator replaced

• Sep 2016: a pair of 275/35 R19 tyres fitted

• May 2026: the vendor tells us the rear axle bush set, pinion shaft seal and lock plate were replaced, and the invoice is present but shows a mismatched registration

• Two keys, the original book pack and a large collection of service invoices and old MOT certificates

• Current MOT runs until 04 May 2027

• HPI clear

Interior

• Black leather M Sport seats with M-embossed headrests front and rear

• Electric memory seats

• Leather M multifunction steering wheel showing light wear to the rim

• Grey-faced M instrument dials

• BMW Business stereo with CD

• Automatic climate control

• M3 door sill kick plates

• Door cards, carpets and rear seats all present well

• A small mark to the outer bolster of the driver's seat

• Overall, wearing very well

Exterior

• Deep metallic Carbon Black paint with a strong shine

• Even panel gaps throughout

• Xenon headlights with clear lenses

• Chrome M3 boot badge and quad chrome tailpipes

• 19-inch M double-spoke diamond-cut alloys in very good order, staggered and wearing Goodyear Eagle F1 tyres

• The vendor tells us there's a small mark on the boot lid, about the size of a 50 pence piece, which isn't clearly visible in the photos

• Black fabric soft-top that presents well up or down with only light creasing; the heated glass rear window is clear

Mechanical

• 3.2-litre S54 straight-six producing 343bhp and 269lb ft, driving the rear wheels through a six-speed manual gearbox and a limited-slip differential

• 0-62mph in 5.2sec and on to a limited 155mph

• Engine bay is clean and tidy

• The vendor tells us it has always been garaged in their ownership and has recently completed the Le Mans Classic weekend

• According to the vendor it starts first time, sounds superb and stops as it should

• With the fuel pump, starter motor, battery, alternator and suspension all attended to in recent years, the major wearing items have been covered off

Summary

With a manual gearbox, that glorious naturally-aspirated straight-six, and an owner who's clearly used it as BMW intended, right up to a run out to the Le Mans Classic, this E46 M3 Convertible looks to be a cracker. It's been given proper mechanical attention where it counts, so it's ready to be driven and enjoyed straight away. Cars like this are meant to be used, and this one plainly has been, without ever being neglected. If you want a genuine, well-sorted, three-pedal E46 M3 Convertible rather than a garage ornament, we'd struggle to point you at a better place to start.

To arrange a viewing, click the 'Book Viewing' button located under the 'Place Bid' button. Viewings can be booked up until the day before the auction ends, after which the option will change to 'Contact Seller' for further enquiries. This seller is located near Stroud, Gloucestershire.