BMW M3 Convertible

1988 to 1991 · Convertible · Limited edition · 786 built

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Shifty Estimate

$55,600

Low confidence · $42K to $70K

Median · all time: $113,000
Sales · all time: 3
Market cap: $43.7M · 786 built
Original MSRP: $40,000Up 39% since new

Collectible

Sold$55,555 · Bring a Trailer · Dec 2025

The market

Every recorded 1988 BMW M3 Convertible sale, by date and price

Dec 2025 · Bring a Trailer

$55,555 · 158,000 mi · Diamond Black Metallic

See this car

Sold Bid to, not sold

1 sale · 4 unsoldmedian $113kupdated Jan 2026

Every E30

Sold prices, all years · Oct 19, 2026

Every E30. Sold prices, all years · Oct 19, 2026
	Convertible1988 to 1991	Sport Evolution1990	Coupe1986 to 1991
Shifty Estimate	$55,600Low confidence	$247,900Low confidence	$75,700
Sold median	$113,0003 sales	$247,8623 sales	$71,00022 sales
12-month move	Too few sales to call	Too few sales to call	Too few sales to call
For sale	None	1	10

Other M3 generations

Specifications

Engine: Naturally Aspirated I4, 2.3L
Power: 200 hp
Torque: 170 lb-ft
0 to 60: 7 s
Top speed: 143 mph
Transmission: Manual
Drivetrain: RWD
Curb weight: 2,866 lb
Production: 786 built
Original MSRP: $40,000
Designer: BMW Motorsport

Common questions

How much does a BMW M3 Convertible cost?

A 1988 BMW M3 Convertible cost $40,000 new. Across every sale we have on file, 3 have sold publicly at a median of $113,000. The Shifty Estimate for a well-kept example is $55,600. Cars have changed hands anywhere from $41,700 to $69,500, depending on mileage, color, and history.

What is a 1988 BMW M3 Convertible worth today?

The Shifty Estimate is $55,600. That sits below the $113,000 median of actual sales because the estimate weights the most recent results most heavily, and recent sales have come in under the longer-run median. We rate confidence low: 3 public sales in a year is not enough to be firm, and the honest range is wide. Treat it as a starting point, not a valuation.

Is a BMW M3 Convertible a good investment?

It has appreciated 39% against its $40,000 list price. Only 786 were built.

What has a BMW M3 Convertible sold for at auction?

The 2 most recent public sales we have on file:

$55,555Dec 12, 2025Diamond Black Metallic · 158,000 mi
$179,200

About the 1988 BMW M3 Convertible

The original M3 convertible remains one of BMW's rarest and most desirable classics. With just 786 units produced, this E30 variant featured the legendary S14 2.3-liter four-cylinder engine producing 200 horsepower, the same motorsport-derived powerplant that dominated touring car racing. The convertible's additional structural reinforcement added weight but maintained the E30's sublime handling balance. These cars represented the pinnacle of 1980s BMW engineering, combining race-bred performance with open-air motoring. Today, clean examples command astronomical prices, often exceeding six figures. The E30 M3 convertible's combination of motorsport pedigree, extreme rarity, and timeless design makes it one of the most collectible BMWs ever produced, with values continuing their relentless climb.