Looking into getting a high mileage E28 535is. Am I crazy?

[e30nub]

The car:
'88 535is
240k
Zinno on black
Interior is very clean (sport seats)
Couple of the seat adjustments don't work
Window switches need a cleaning of the contacts (finicky)
Everything else works
Headliner has some sun damage on the c pillar

Mechanics
Had head work in 1994 (40k ago)
Valves adjusted 15k ago (due for an adjustment now I think)
Drives good
Starts great from cold
Coolant light is on without it being low on coolant (sensor?)
Does not over heat
A/C seems to work but it was only about 65 degrees today
Brakes need service soon (pads and rotors)


Body
Body is almost flawless
Prob only 2 dings
Paint is very very nice
Little fade/oxidation on the wing the size of a quarter
The rock guard on the front valence is almost completely off (exposing the paint underneath; would look better if all the rock gaurd was removed)

Carfarx shows no accidents and is free of any mileage rollbacks, etc.

Looks almost identical to this in condition besides mileage

http://bringatrailer.com/2013/03/17/bat-exclusive-2-owner-california-1987-bmw-535is/

So my questions are:

How much would you pay for an example like this?
Does the high mileage steer you away? (240k m30b34 with 9 year old head work)
Reliability of an M30?
Cost of ownership? (Are parts prices similar to e30?)
Am I crazy for not having it in my driveway right now?

[efficient]

damn my co worker had a mint one of these, he took care of it. said he was gonna sell it for 1k if it didnt pass star smog. idk what happened to it because he got transferred to another job location.

[CrusherCurtis]

Wow that Bring a Trailer car was pretty damn expensive at $10k with 170k miles on it.

If your considering paying anywhere near that bring a trailer price, just be patient and hunt something down like this:

http://cgi.ebay.com/ebaymotors/535is-/271152262955?_trksid=p3984.m1438.l2649&ssPageName=STRK:MEWAX:IT&forcev4exp=true#ht_1043wt_1169

It was a much better deal at $8k with cardinal interior, billies, H&Rs and Euro Treatment + It looks to be a solid resto with lower miles.

Too answer your questions
1. $4000 is what I'd guess. (Honestly i rather find one clapped and build it. Mine was $500 with shot pads and rotors).
2. High mileage doesn't scare me away because i walk into almost every car considering a swap. An M60 e28 6 speed would be the coolest car in the world to me. If i were keeping it stock then a 270k mile car would have to be cheap for me to consider it. That's just me tho.
3. M30's are wonderful motors so long as their not overheating
4. My e28 cost of owership was less than my e30. Only routine stuff, never an issue.
5. That depends on what their asking for it.

[Wild Ride]

M30's are bulletproof. When I opened this thread Titled high mileage e28 I was expecting over 400k, that's nothing.
I saw an e28 for sale with well over 600k. Honestly it all comes down to maintence. Any wear part the past owner didn't replace YOU will be replacing.

A zinno e38 535is? Yea go buy it that's an awesome combo. Definitely get some euro bumpers and headlights for it.

[JFarhanbod]

Do it, m30s are awesome. I like my e24 more than my e30 a bit more everyday

[e30nub]

Thanks for the responses. I figured cost of ownership would be similar. I just read some weird posts that threw me off on bimmerforums. Something about them being super expensive to maintain cause they'll need lots of work, but I honestly expect it to be something similar to an e30. Maintenance is always key in any car

[MF DOOM]

i just bought an e28 535i with 245k. Would I do it again? No. But only because i miss the gas mileage of my m42 car. I broke my foot and cant drive it though. I might sell it if youre interested.

[xxx-Lost-Soul-xxx]

i just bought an e28 535i with 245k. Would I do it again? No. But only because i miss the gas mileage of my m42 car. I broke my foot and cant drive it though. I might sell it if youre interested.

Where you located???
I need a beater.

[South26]

That is low mileage on the M30. What you will have problems with is the front end with replacing the tie rods, control arms, etc. The mpg on the m30 does suck. I have a e34 535i and I get 23 freeway and 17 around town. I use to have e28 528e until some sh!t head ford truck rear ended it. I really enjoyed driving the e28. If it has an lsd great, if not I would get one.


Andy

[e30nub]

So I bought it. It was just too damn clean to pass up. Has LOTS AND LOTS of receipts. Popped the VC this morning to do a valve adjustment and it was glorious. Practically everything is new. Still needs a proper tune up, but that will come this weekend.

[James]

Fark that looks tidy. Nice buy. Spend some money refreshing the suspension and you'll erase the miles.

[Jean]

Nice example!

[dude8383]

Wow, what a pick up!! Looks great :)

[xxx-Lost-Soul-xxx]

wow, Thats nice too nice for me for my beater status lol

[bmwextremeguy]

I had one 1988 535is with 420k miles no engine problems, I parted it out to severe rust and major drivetrain work needing to be done, engine was solid, the car being posted looks good and well taken care of for sure As long as the person didnt pay top dollar, I am sure he got a good deal.
XXX-Lost-Soul-XXX, you need a beater you posted? I have one that many dont have, I have my very rare 1990 735i factory shadowline 5speed E32 for sale or trade. if you are intrested you can email me at bmwextremeparts@yahoo.com The RHD 730i is not for sale but I might have others you might be intrested in? The cars would have to be picked up for long drive or shipped?
SHAWN