BMW M3 CSL | PH Auction Block

Two door, six cylinder, track focused M cars are still a thing, but none quite like the CSL...

By Matt Bird / Monday, 16 February 2026 / Loading comments

While circuit-focused M3s existed before 2003 - think GT and Lightweight E36s - as well as after - GTS, most notably - still nothing has quite captured the imagination of M enthusiasts quite in the same way as the CSL. More than 20 years after launch, it has a hold on BMW aficionados like little else.

The noise of it, obviously, will play a part in the obsession, its legendary S54 never sounding better than when ingesting air for its six throttle bodies through a carbon air box. There’s an argument to say that the CSL is the best-sounding M car ever, and the competition is strong. The design of the CSL, undoubtedly appreciated when new, is now an even greater source of appreciation, given how some subsequent M cars have looked. Nobody, surely, prefers an M4 CSL to an M3 as something to look at, put it that way.

The E46 3 Series was always a handsome car (apart from as a hatchback), and the CSL took the M3’s handsomeness to another level of menace: the ducktail, the wheels and the carbon roof saw to that. The roof was part of an extensive weight-saving campaign that some will tell you the latest generation of M cars need. More than 100kg off a sub-1,500kg car was undoubtedly an impressive feat, and with the incredible response of the engine helped contribute to the feeling of the CSL as a raw, engaging, exciting road racer. Nevertheless, it wasn’t adored when new, for the simple fact that the standard M3 was so good - and the CSL wasn’t quite deemed £20,000 better.

How times have changed. The rarity factor (with just 422 RHD cars, with the majority grey), the move away from naturally aspirated, rear-wheel drive M cars and the popularity of manual gearbox conversions have really driven up CSL demand in the past decade and a bit. Where once £30k or so would have bought one, now you’re looking at at least twice that for the most famous E46. Or well into six figures, in fact, depending on mileage and condition.

This PH Auctions lot is notable as one of the black cars - it was also specced from new without the radio for maximum lightweight kudos. It’s been upgraded with AP Racing brakes, too. And if you think the body looks great, wait until you see underneath, because it’s stunning. Work to address the common rear subframe weak spot means the CSL presents perfectly between the driven wheels. The interior is equally pristine, with even the fabrics so susceptible to wear looking barely used.

Having been in storage for a little while, a service will probably be worthwhile before embarking on any grand road trips. But the seller will have the M3 MOT’d (and any advisory items addressed) prior to handover anyway. After that, the CSL really should be fit for anything, from track to show. It really is an M car experience like no other.

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