This 1988 BMW M3 may have mileage that is approaching 300,000, but that’s not stopping bidders from pushing the bid total up to almost $30,000. While the rapid rise in value for the E30 chassis M3s has been well documented, it still amazes me how a car that traded hands for relatively short money just a few years ago is now selling for numbers that would have seemed laughable when an E30 M3 was 20 years old. This example has had one repaint since new and is surprisingly good condition for the miles; find it here on eBay and located in Virginia.

This M3 spent most of its life in Texas before heading to the mid-Atlantic region, and the seller emphasizes there is no rust to be found on the car. The M3 retains its original basketweave wheels and factory-correct bodykit, along with flared fenders, all specific to the M3. The respray was done in its original color and did not include the roof. The seller notes the presence of chips and cracks on the rear spoiler but not anywhere else on the body. Mileage clocks in at 261,000, a testament to how overbuilt these high-strung performance cars were.

The interior looks far better than you’d expect for this kind of mileage, and it actually doesn’t look like it’s been re-done recently, either – it’s still pleasingly weathered, and doesn’t give off the vibe that a freshly re-trimmed cabin does. The seats are correct to the car, too, as E30 M3s had horizontal stitch patterns going across the seat (as opposed to vertical stitching in the non-M cars.) A factory fire extinguisher appears to be mounted to the bottom of the seat, which is a popular U.S.-market upgrade and standard in overseas vehicles.

Now, there’s no such thing as a cheap E30 M3, and generally if you do find one, rest assured the tightly-wound S14 four-cylinder engine will likely need to be rebuilt. The seller claims this engine did get a rebuild at around 150,000 miles, but there’s no documentation included to support this. Despite the lack of evidence, the M3 is said to run well and the engine bay looks reasonably tidy. I’d still want to pull compression numbers before taking home such a high-mileage example, especially at the current price point – and see a thick folder of maintenance records, too.