The big story
The BMW Z3 may be a genuine Bond car – and M-spec models already a solid investment – but values of lowlier models are starting to climb too
BMW Z3
Classic car old hands might laugh at newcomers to the classic scene who want a slice of the action, but don’t want to get their hands dirty doing much more than they might on their daily driver moderns.
Those attitudes have had considerable bearing on the rise of the modern classic, which has a perceived link with more traditional classics, but without the need for regular fettling. In other words, a car that’s reliable, needs little attention, is backed by plenty of specialists and doesn’t require much mechanical nous. Ideally, said car will also span a broad price range, with the lowliest variants available for pennies.
Having more than a stylistic hint of the 507 roadster of the Fifties,
BMW’s Z 3 took the fight to the Mazda MX-5 in late 1995. A selection of four- and six-cylinder engines were offered, the smallest being a 1.8, the largest a 3.2. More sixes than fours were offered over the Z3’s brief life; such broad coverage means that there’s a Z 3 for most drivers, from those who like pottering around to those who want to get a serious move on. Most Z3s were sold as convertibles, but an opinion-polarising coupé, sold from 1998 – which was really a small estate – was available in the UK in 3.2-litre M guise. The rest of the world got smaller 2.8 and 3.0 six-pot options; any that you see here will have been imported from a LHD market.
Z3 prices can vary wildly, not only because of condition but the model in question. As ever, performance models are the dearest; 1.8- and 1.9-litre four-cylinder models sit at the bottom of the tree, while the firebreathing, tail-happy M Roadster and Coupé fetch strong fi ve-figure sums.
As an example, Z3s sold in November 2018 varied from £1342 for a Condition 3 Z3 1.9 to £28,125 for a Condition 2/2+ Z3M Coupé sold by Silverstone Auctions, while in January South Vehicle Auctions (SWVA) sold a Condition 2 1999 Z3 1.8 for £2808. As the fi gures attest, a tired but serviceable four-pot Z3 could be yours this summer for well under £2k. Pre- and post-facelift cars (from 1999) don’t attract any particular premium at the lower end of the Z3 range – it’s all down to mileage, options and condition.
Higher-mileage, smaller capacity six-cylinder cars are achievable if you shop around – an 84,000-mile 2.0 sold at Mathewsons’ February auction for £1300. While the smaller sixes add little in terms of performance (2.0-, 2.2-, 2.3- and 2.5-litre units were all sold after the Z3’s facelift), they’re much more refi ned.
SWVA’s Chris Holmes says: ‘They are great-handling cars and will put a smile on your face every time you drive one.
‘There are lots of different engines – we especially like the 2.8- and 3.0-litre versions – they are quick, even by modern standards.
‘If possible, go for a high-spec car and don’t forget the Coupés. If you’re buying one, I suggest one with fewer
than 75,000 miles on the clock and make sure that all the stamps are in the little book – that’s most important.’
As an aside, a Z3M Coupé remains the car Salvage Hunters: Classic Cars’
Drew Pritchard most regrets selling – and values for these models are slowly climbing. Historics’ Ascot Racecourse sale on 2 March saw an M Coupé fetch a strong £29,680.
Other specialists favour different iterations of the Z3. Anglia Car Auctions’ Rob George says that the best model in his opinion is the regular 3.0, not the Z3M: He says: ‘That’s my favourite because it’s more of a touring car than a sports car. The interior’s a nice place to be, and overall they are better built than potential rivals.’
With better trim and better overall quality than an MX-5 – which can often be on a par price-wise with smallerengined Z3s – the BMW makes sense, but there is an added bonus. Rob George says: ‘Like the original Mercedes-Benz SLK, they will start going up in value.’