Is the BMW M3 a good investment?

The thesis

The E92 M3 features the only V8 ever fitted to an M3: a 4.0-litre naturally aspirated S65 producing 414bhp and revving to 8,400rpm. It is the last naturally aspirated M3 and the last 'analogue' M car before turbocharging and heavy electrification. Hagerty's 2025 data confirms modern classics (1980s–2000s) are the growth segment, with the E92 increasingly recognised as the end of an era. Prices for low-mileage manuals are rising year-on-year. While E46 values have already climbed significantly, the E92 remains undervalued relative to its technical achievement and last-of-breed status.