Bidding on an M3. Max value?

A member of our local Facebook BMW Enthusiast page was involved in an accident recently. They came out pretty much unscathed, but the car didn't fare so well. Its up for auction on Copart now:

http://www.copart.com/us/Lot/19211026?searchId=422331537

Here's what the owner says about it:

"It looks like our old M3 is going to auction April 1st. If anyone is considering bidding, it was a great car, we've had it for nearly 11 years. Its not perfect, but a good driver. Has a DINAN CAI and reprogram, it has less than 1200 miles on a full suspension refresh, everything except springs and rear shocks, replaced starter a couple of years ago, 3-4 years ago I replaced the water pump, radiator, hoses, thermostat and housing. I had a vapor leak somewhere along the line, not something a gas cap would fix, front bumper was pulled off on the driver side from the driveway at our shop, it had a deep gutter... front seat bolsters are shot."

I would love to buy this and turn it into a track rat. Whats the most you guys would pay?

about 2k.

Yeah, maybe you could go as high as $2500. While it's a shame to say this, it's a good part-out candidate too so that may drive the price up.

Personally, if I was that guy I wouldn't have had collision coverage on it, but that's his prerogative.

No help on the value, but make sure you check out coparts updated fees. They raised there fees quite a lot a month or so ago. Plus took away the discount for having a cash deposit. Its almost not worth buying from/through them anymore. Unless its a unicorn or you get lucky and no one else bids.
Good luck
Paul

For these cars, I treat the chassis as pretty much disposable. Chassis with blown HG motors or dead ATs are available (in non-M) for about $1,000 in good paint if you hunt. If I bend an E36 up to the point it needs repair to keep tracking it, I will get a new chassis and transfer the guts of the car over to it. An M needing body work is not something I do, because I don't DIY body work. Not only would I face panel fix & paint costs, but potential issues whether the unibody got tweaked and needed straightening too. Just too much hassle for me.

If this one had no body work issues, around here it might go for $8k to $10k, if the interior was really clean. If the interior was ratty, more like $7k?

At worst, maybe I can pick it up for ~$2k and just part it out, keeping the powertrain for myself, maybe to swap into our E30...

I'd be surprised if Richard in Provo doesn't buy it. He's been hoarding E30s and E36s.

In reply to 2002maniac:

Haha, I know Richard. Yes, he has quite the collection. Good guy. I'll have to beat him to it if the price is right.

The door gaps and the condition of the roof would determine the value of that car.

From the photos I can not tell if it I just a rear clip or if the frame/body got tweaked.