Ownership Log: 1990 Diamond Black Over Black Sport Leather S14B23 M3

[Shock(/\)ave]

The story of my E30 M3 starts off with the story of my first E30, a 1991 318iS.

After owning my E36 M3 (Canadian Edition) for a few years, I had read enough about the E30 M3 to seriously consider owning one, but I suspected that the idea might be better than the reality. Having read about the "poor man's M3", I decided to look for a 318iS which would give me a proper taste of the chassis, and a close approximation of the M3 based on it. I had no idea how rare they were in Canada, but I ended up very lucky and my dad found a great one for me weeks after I made my decision:





I bought this car for a terrific price with only 108,000 kilometres on it from the original owner in need of moderate restoration work, all of which I did myself to build my skills and confidence. No sunroof, sport cloth interior, limited slip differential, air conditioning... it was a great car, and it made me love my commute again. The more time I spent with it, the better it fit me. After having completed my restoration work I realized what a special car I had created, and I made the difficult decision to put it up for sale so I could pursue an M3 before they climbed in price beyond my reach. It sold in a week to the first person who came to see it.

After forcing myself to sell the 318iS, I invested the proceeds into an E34 M5, which I partially restored and sold on in turn. By the time the M5 sold I had enough saved up to start shopping for really nice examples when this car, which I had been interested in when it was listed two years earlier, turned up for sale again. There were no manuals and not much in the way of service records with the car, so I passed on it and continued my search... until weeks later, when the seller dropped the price to the point where I couldn't resist it.







It's got just under 79,000 kilometres on it, is completely rust free and it has a perfect interior with the exception of a small hole in the sunroof panel fabric. I've owned this car since 2010, and would now be priced completely out of the market for these, so I'm very happy to own one.

I'm looking forward to maintaining this thread over the years as I continue to enjoy this car and start tackling some projects.

[Powling]

Love the M3 and the story...and the 318is as well. I remember you giving me some pointers through PM when I was looking at snagging an M3 a couple years back. Would love to see yours in person some day (and talk about the paint resto you mentioned in my build thread a while ago too).

[hankolerd]

Very cool. So is it all stock? Do you have any plans for the car?

[Court M3]

Nice find and great example. Look forward to more pics.

[Shock(/\)ave]

Love the M3 and the story...and the 318is as well. I remember you giving me some pointers through PM when I was looking at snagging an M3 a couple years back.

I still can't believe that Pfaff listed that car for $99,000 (I don't mind people making money, but I'd much rather the car had gone to directly to an enthusiast than allow them to triple their investment on a quick flip), and that the car was apparently literally 5 minutes away from me! It was a gem for sure, and it's a damn shame the finances didn't work out for you. I might have already told you this, but not long ago I had to watch a 66,000 km original owner Canadian E28 M5 sell for $17,000. I could've tripled my investment on that car on a quick flip (hypocrisy intended), but I didn't have the $17,000, so it might as well have been $1,700,000 for me. I messaged the seller, but never received a reply, so someone else likely scored on that one.

The timing will work in your favour someday if you keep at it.

Would love to see yours in person some day (and talk about the paint resto you mentioned in my build thread a while ago too).

My M3s are garaged elsewhere until we build our garage, but you're welcome to drop by and see my M5 and my girl's touring. :D

Very cool. So is it all stock? Do you have any plans for the car?

Completely stock with the exception of the wheels, which I am currently seeking appropriate replacements for within my budget.

The engine bay is somehow filthy, and there's missing trim in it I'll be correcting as well. I'll be taking care of the sunroof fabric when I find a mint condition glass moonroof to swap into the car.

My priority is to refresh the car mechanically and start driving it. I've driven it less days than the years I've owned the car so far, but I bought it with a long term ownership in mind and haven't been in the position to spend any money on it until very recently. I'll likely chip away at the engine bay cosmetics and electrics over the winter, with an eye toward getting the car ready for a full freshening in the spring.

Nice find and great example. Look forward to more pics.

Me too! I need to get proper wheels and tires on the car, then get it out for some pictures.