BMW M5 bought for a staggering price
Even though experts do not consider one of the most expensive BMW models ever sold to be a classic, there is a good possibility that it will become one in the future. The fact that the vehicle is one of a limited edition of 300 units sold globally may have a lot to do with this, with just 30 units reaching the US.
The model is, of course, the 30 Jahre M5, which was bought for $700,000 when it was auctioned in Arizona by Barrett-Jackson. The proceeds will finance the BMW Club of America Foundation's driver safety programmes and several other charitable schemes.
The bid that eventually proved too much for the rest of the pack was from a BMW dealership in Charleston, South Carolina. The vehicle was not bought for resale but will put on display in a museum.
This particular 30 Jahre M5 is painted an eye-catching Frozen Dark Silver and has dark chrome accents. The most important part of the M5, however, is found under the bonnet. The engine is an upgraded V8 4.4-litre, which can accelerate from 0-62mph in an incredible 3.9 seconds. The top speed is 190mph.
The laws of demand and supply dictate that anything in short supply will become more expensive and nobody can estimate what the price might be for other limited editions in the future. To many BMW enthusiasts all over the world, $700,000 is a small price to pay - even for a vehicle not yet classed as iconic.