2006 BMW M3 Cabriolet (E46) SMG

Highlights

• Carbon Black over Kiwi Leather

• SMG gearbox

• In-depth history folder

• Eye-catching specification

• Ideal for those lovely winter evening cruises

Overview

Arguably one of the best-ageing designs of the 90s, the E46-era M3 has aged like a fine wine, and its pared-back lines, subtle aggressive touches and overall aesthetics are as desirable today as they were when new back in the late 90s. 

For those looking to make the most of that glorious and iconic S54 soundtrack, BMW offered a cabriolet version of the M3, and whilst many were quick to point out it lacked the final 5% of dynamic ability and precision of the coupe, the cabriolet was arguably a better long-distance cruiser, especially when optioned with the six-speed SMG gearbox, which made both city driving and lengthy motorway cruising a breeze.

This particular ‘46 is finished in the desirable shade of Carbon Black (which turns a deep blue when the light hits it) over the lesser-seen Kiwi leather, which we’re sure will provide plenty of discussion; love it or hate it, we love an unusual spec here at PH, and this certainly ticks the box.

In the care of the current enthusiast owner since 2017, this M3 has clocked up the miles in its current ownership, but the seller is keen to point out that the vast majority of those have been motorway miles, thanks to a monthly trip from the fringes of Devon up to London to see family. 

If you’re looking for an M3 to use and enjoy, with some scope for aesthetic fettling and improvements during the quiet winter months, then this is just the ticket.  

History and documentation

• Registered 22 Dec 2006

• Stamped service book with services as follows: Sep 2006 (PDI), Feb 2007 @ 1,508 miles (running in check), Nov 2007 @ 11,059 miles, Mar 2009 @ 19,658 miles, Dec 2009 @ 21,464 miles, Jul 2017 @ 39,991 miles, Jun 2019 @ 56,433 miles, Nov 2020 @ 69,876 miles,  Mar 2022 @ 82,921 miles, May 2022 @ 83,613 miles, Oct 2023 @ 94,936 miles, Nov 2024 @ 107,523 miles

• The seller advises that in his ownership, he has supplied the servicing garage specifically with Castrol Edge oil as recommended by BMW

• Full document pack

• Collection of invoices and old MOT certificates

• Two keys

• Current MOT expires 08 Jul 2026

• The current MoT has advisories for the condition of the rear brakes, and play in the steering rack inner joints

• The brake discs and pad advisories have been addressed, with an invoice in the history file to substantiate this work

• V5 present in owner’s name

• HPI clear

• The private plate is not included in the sale of the vehicle

• The owner has correlated the car’s history in a well-stocked ring binder, with all documentation in chronological order

Interior

• Lesser-seen Kiwi leather interior contrasts well against the subtle Carbon Black exterior

• The interior presents in fair condition, but would benefit from a steam cleaning and leather treatment to address some of the staining and signs of wear

• The outer driver’s seat bolster has a small hole, and the driver’s door card has a number of abrasions around the pull handle

• Elsewhere, there is some wear to the steering wheel, typical wear to the lower door cards, and the soft-touch covering on certain parts of the dashboard and centre console has worn over the years, as is often seen on these M3s 

• The seller advises that the air con has been regassed in the last 2 years

• In the rear, the fold-down tool kit is partially complete, and under the boot floor the emergency tyre inflator kit is present

• The seller notes that only the rear speakers are working, and that the aftermarket Parrot hands-free system is also inoperable

• The folding roof is in full working order, with no reported water ingress issues, though the original cords have perished with age and been replaced with shoe laces

• Other than the above, there are no reported faults or issues, and no warning lights on the dash

Exterior

• Carbon black exterior - a great BMW colour that changes as the light hits it

• The bodywork is in generally fair condition

• The paintwork would benefit from a thorough machine polishing and correction to remove the numerous light abrasions, swirls and minor scratches

• The vendor advises that the windscreen wipers were replaced in Aug 2025

• We’d note that the front end is extensively peppered with stone chips, both lower bumper corners are scuffed/cracked, and there is lacquer damage to the bonnet and front wings

• Elsewhere, we note an impact on the nearside front corner, a dent to the nearside door, bubbling on both front arches (typical of an E46), bubbling to the offside rear corner, and bubbling on the driver’s mirror mount

• All four of the wheels require refurbishment - a great opportunity to personalise the car with wheels of your choosing should you wish to do so

• The seller informs us that the front tyres were replaced in Mar 2025 and one rear in Jun 2025

• The seller notes that the boot floor was checked twice in his ownership, and both times shown to be free of any issues

Mechanical

• 3,246 cc inline-six naturally aspirated S54 engine, producing 343bhp and a wonderful soundtrack

• Power is sent to the rear wheels through a six-speed automated manual (SMG) gearbox and limited-slip differential

• No reported modifications or changes from factory specification

• The front and rear discs and pads, along with the handbrake shoes, have all been replaced this year

• The seller advises that a new battery has been fitted in the last couple of years

• The nearside rear brake caliper was replaced in Sep 2025

• We note some staining around the oil filter and fill points in the engine bay, but no other signs of any obvious issues

• No known VANOS faults

• No reported mechanical issues

Summary

Cars in unusual colour schemes always spark conversion, and this Carbon Black over Kiwi E46 M3 Cabriolet will be no exception - love it or hate it, we admire the fact it’s different to the sea of black-over-black cars, and have no doubt that there will be plenty of fans out there. 

This M3 requires a little aesthetic love to bring it back to its best, but looks to be a great starting point for a cosmetic restoration or the base for creating your dream M car, whilst offering a usable E46 M3 that you can drive and enjoy without worrying about keeping the mileage low - cars are meant to be driven, after all!

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 in Barnstaple, North Devon.