How much to pay...?

So I have been a long time creeper on Bimmerfest and I am getting ready to pull the trigger on an E36....328is or preferably an M3. The M3 has avoided common sense on pricing, I always find people pricing them way above book value and I have no idea what is a good deal and what is a complete joke.
For instance...
http://boston.craigslist.org/nwb/cto/2959621219.html
The KBB and Nada are both about 11k, so this is way over. Is he asking a reasonable price assuming a clean stock vehicle? Or are his expectations about 3k too high?
I am finding many M3's in the Boston/New Hampshire area are all the same way, with asking prices inflated way over book value.
If anyone could point me in the direction of realistic pricing for these cars that would be great :-p

Originally Posted by Prediluted

So I have been a long time creeper on Bimmerfest and I am getting ready to pull the trigger on an E36....328is or preferably an M3. The M3 has avoided common sense on pricing, I always find people pricing them way above book value and I have no idea what is a good deal and what is a complete joke.
For instance...
http://boston.craigslist.org/nwb/cto/2959621219.html
The KBB and Nada are both about 11k, so this is way over. Is he asking a reasonable price assuming a clean stock vehicle? Or are his expectations about 3k too high?
I am finding many M3's in the Boston/New Hampshire area are all the same way, with asking prices inflated way over book value.
If anyone could point me in the direction of realistic pricing for these cars that would be great :-p

man I am 18 and i bought my M3 for $4.4k if you dont believe me i can show you bill of sale

it has 150k miles, interior is in good condition no ripped seats, just a ripped steering wheel. i got pic if u wana see let me know.

M3 prices are not accurate in many pricing guides. Other factors drive the market.

There are deals to be had, but you also have to be careful that too low a price means there is something that may bite you later.

And asking price is just that, ASKING, you can offer less.