It probably won't have escaped your attention that old BMWs are now considerably more expensive than they used to be. Of course the same could be said for lots of brands, though it seems to have affected BMW most drastically. It's not simply the Motorsport cars that have shot up, either, with fairly ordinary Beemers now frustratingly out of reach for many: see the £20k325i convertible, £25k 6 Series and - sit yourself down for this one - the £220k Z8.
Sadly this story isn't about how the M535i is some unrecognised bargain of the BMW back catalogue (because it's still £30k), but it seems about time that the old E12 gets its 15 minutes in the spotlight. Especially as, when an E34 M5 Touring can command £65k and the best E39s are apparently somewhere near £40k, £30,000 doesn't look outrageous.
While the E12 is not a 'proper' M5, and lacks an M designated engine, it does mark the start of the fast 5 Series story and is therefore really quite significant. Introduced as part of the M1 launch and hoping to broaden the appeal of the new BMW 'M' badge (whatever happened to that?), the M535i was far racier than any other BMW saloon that had been seen before. The engine was from the E9 CSL, a limited-slip diff was standard and the whole car was overhauled to create a much more serious performance prospect.
Just 450 right-hand drive cars were ever made, with 200 for the UK; bear in mind the M535 emerged nearly 40 years ago, that it was a powerful rear-wheel drive car with no driver assists and how cheap it once was, and it's a miracle that any have survived. This particular car, in Cashmere Bronze with beige upholstery, must be one of the best out there, and for more than simply the fantastic colour.
This is the 'URN' M535i, so called because of its numberplate; not only has this car been the subject of many a magazine feature, it's also been part of BMW's centenary celebrations at the Goodwood Festival of Speed. Why? Well given the rarity of M535s, almost any car would have done, but URN has been restored - "when it was anything but fashionable to invest money in the model", according to the ad - and maintained to an exceptionally high standard. The gold paint gleams, the tool kit is present and correct, what can be seen of the upholstery looks good and the wheels, while not original items, are presentable. It's an absolute stunner.
Sold with a fresh service and MOT, the M535 looks like perfect summer transport for the classic BMW enthusiast. Rare, interesting, fast and good looking, there can't be many cooler classic saloons around than a Cashmere Bronze 5 Series. They won't be cheap ever again, sure, and that's a shame. But as the progenitor of perhaps the most successful sport saloon ever, M535i values must only be heading in one direction. Get in now to see what all the fuss is about...
SPECIFICATION - BMW M535I
Engine: 3,453cc straight-six
Transmission: 5-speed manual, rear-wheel drive
Power (hp): 220@5,200rpm
Torque (lb ft): 224@4,000rpm
First registered: 1981
Recorded mileage: 94,000
Price new: £13,745
Yours for: £29,995
See the original advert here.
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