BMW E46 M3 Market Analysis for 2020

I found every E46 M3 in the country and spent hours sifting through the data to create this handy reference for you.

How Much is the BMW E46 M3 Worth?

The median cost of a BMW E46 M3 is $17,411 with the average at $17,921, but that includes all the models like the Convertible, SMG and Manual variants.

  • For a BMW E46 M3 Coupe with a Manual Transmission, owners are asking about $22,500.
  • For a Manual Convertible or SMG Coupe, the BMW E46 M3 will cost you about $17,500.
  • The best deal for a BMW E46 M3 is the SMG Convertible where owners are asking $12,450!

Below you will find an in-depth market analysis of the BMW E46 Market.

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Market Update: August 2020

With the oldest E46 M3 approaching 20 years old, the depreciation curve has hit bottom (usually after 15 years) and is not entering into the stage of either continuing to slowly depreciate or begin the increase that investors are looking for.

I conducted a yearly analysis of every E46 M3 for sale on Craigslist and then sorted them by Transmission, Coupe/Convertible and Year to produce this handy guide for you.

Since this is the first analysis I have conducted on the E46 M3, I have no historical data to compare this data to, but from my constant searching for a few years back it feels like the overall price is up about $2,000 on the whole. Good news for existing owners and those wondering how much to put into the restoration and upkeep of their cars.

At the bottom of the pack is the Convertible BMW E46 M3’s with the SMG transmission. These cars are priced at about $12,450 and with 6 currently available you could get quite a deal if you are looking for an automatic convertible.

Next up are the Manual Convertible cars and the SMG Coupes. Similarly priced around $17,500 I was surprised that the SMG caused such a discount in price. Across the board, you can expect to pay a 14% discount for SMG cars and an 11% discount for Convertible M3’s.

The most valued BMW E46 M3 is the Manual Coupe priced on average $2,250 with 17 available this is a pretty reliable number

What does the BMW E46 Market Look Like?

For personal interest, I wanted to understand how much BMW E46 M3’s are going for nationwide in the USA. I wanted to understand which models were commanding a premium over their siblings and to see if there were some unexpected surprises.

Below you will find a table based on my nationwide searching of the BMW E46 M3 for each model I could think of.

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How Much is a BMW E46 M3 going for?

Nationwide data as of 8/28/2020


Vehicles for Sale



BMW E46 Convertible (Manual) 21 $17,837 $16,850
BMW E46 Convertible (SMG) 6 $13,091 $12,450
BMW E46 Coupe (Manual) 17 $22,388 $22,250
BMW E46 Coupe (SMG) 9 $17,292 $17,167

Will the BMW E46 M3 become a classic?

Yes, the BM E46 M3 will become a classic. From my perspective, the increase in prices has already started. It was only a few years ago that you could pick up a lower mileage (100k) copy with manual transmission and a hardtop for around $15,000 but these days you need to spend about $22,500 in order to get into the game.

Are E46 M3’s Going up in value?

Yes, the BMW E46 M3 is already appreciating in value and will continue to do so. If history is any indicator of this, look at the BMW E30 325is, a car with similarly high production volumes that is beginning to rapidly increase in value. If the E30, a much slower variant, is still fun to drive, so too can the E46 M3.

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Is an E46 M3 a Good Investment?

No vehicle is a “Good Investment”. The day it rolls off the production line, every car, truck, the classic will begin deteriorating and will require constant upkeep to keep running and in good condition. Is the E46 M3 a speculative investment? Yes, it certainly is and if something odd happens you may make your money back but there is a significant risk of not making any money back. You should buy a BMW E46 M3 for the fun of it, how it drives, how it behaves on the track, how it looks, what feelings it brings to you and most of all how much joy you get out of it.