For any of you who have followed the collector car market over the last few years, it’s likely that you’ve seen a few models accelerate in value only to plateau and recede over the last few months. For some owners, it has to be sobering to realize they paid top of the market pricing at a time in history where prices for everything went to levels not previously seen. And while the price of groceries and other must-have goods have stayed stubbornly high, cars that brought big money in 2020 and 2021 has been falling hard. This 1979 BMW 320i is a good example of this phenomenon, and it’s listed for sale with bids to $5,100 and the reserve unmet.

Now, I’m not suggesting that this seller grossly overpaid for this E21 3-Series; no, it’s more than it’s just a good example of what can happen when the market corrects and operates with a better understanding of what is desirable and what is merely average. The E21 3-Series has historically been one of the least loved eras of the 3-Series, with both the later E30 cars and the 2002s that came before it driving far higher prices, and more consistently, over time. In 2020 and 2021, we saw certain E21s rise to pricing levels never before seen, with sport package models selling for more than $20,000 if in excellent condition.

The problem is, and always has been, is that the E21 doesn’t possess the same charms as the E30 and 2002, and even if the market goes white-hot for a time, it doesn’t change the DNA of a car. However, what is good about the current market is that more cars are selling for what they’re actually worth. This E21 should safely bring over $5,000, perhaps even getting close to $7,500 or so. The body appears to be in excellent condition with no rust, and the interior is quite clean with no evidence of major soiling or other flaws. The only big demerit is the automatic transmission, which will absolutely have an impact on driving enjoyment in a car like this.

However, if you can get past this, the beauty of the E21 will inevitably shine through. These cars were built to high standards, with a bank vault-like quality that was highly unusual in a class of entry-level luxury cars. The cockpit was designed around the driver and the chassis was certainly sporting, even if it wasn’t as tossable as a 2002. The seller has installed new brakes, tires, and a fresh battery, so you’re getting a car with some basic needs already addressed. Have you seen some correction in the marketplace for other makes and models? Find this clean E21 here on eBay.