The BMW M5 (E39) (1998–2003) is widely regarded as one of the greatest performance sedans ever built, thanks to its 4.9L S62 V8 (400 PS), timeless design, and analog driving experience. Prices in the EU vary significantly based on condition, mileage, and provenance.

Here’s the latest market overview (mid-2024):

Average EU Prices:

By Condition:

• Project car (needs major work): €15,000 – €25,000
  (High mileage, rust, or mechanical issues; requires investment.)
• Good driver (solid, but not perfect): €30,000 – €50,000
  (100,000–150,000 km, some wear, but well-maintained.)
• Excellent/low-mileage (collector-grade): €50,000 – €80,000+
  (Sub-80,000 km, full history, no rust, original spec.)
• Concours/rare specs: €80,000 – €120,000+
  (Sub-30,000 km, Le Mans Blue or Individual colors, documented provenance.)

Key Price Factors:

Mileage: The sweet spot is 80,000–120,000 km—low enough to retain value but high enough to avoid "garage queen" premiums.
Timing chain guides (a known weak point) must have been replaced (~€3k job).
Rust-free chassis (check wheel arches, floor pans, and trunk).

Originality: Numbers-matching engine, unmodified examples fetch 20–30% more than tuned cars.

Color/Interior:
Exterior: Le Mans Blue, Oxford Green, and Imola Red command premiums.
Interior: Black or Caramel Nappa leather is most desirable.

Country Variations:
Germany/Netherlands: Prices are 10–15% higher due to strong demand.
Southern/Eastern EU: Better deals, but check for rust.

Where to Buy?

• Classifieds: Mobile.de, Classic Trader, Autoscout24.
• Auctions: Watch Catawiki or Collecting Cars for rare specs.
• BMW Forums: Enthusiast sales (e.g., M5Board.com) often list well-documented cars.

Market Trend:

• Rising Values: Clean E39 M5s have doubled in price since 2020, with top examples now crossing €100k.
• Future Classic: As the last analog M5 with a V8, it’s a safe bet for appreciation.

Pro Tip: Avoid cars with "cheap" mods (e.g., aftermarket exhausts, wheels)—purists pay extra for originality.