Valuable steel: the £500,000 BMW M1

6 November, 2016

Have you ever wondered why the 2009 BMW 1M was never called the M1, like every other M-series car that the automaker has ever produced? It’s because of this car — the incredibly rare BMW M1.

In the ’70s BMW wanted to enter into GT Racing (what would later become the Procar Series), and the German-designed horses were to be built under an agreement with Italian manufacturer Lamborghini. However, conflicts arose between the companies, which prompted BMW to produce the car themselves in-house.

With a production run of a mere 457 units, only 399 sold as road cars from 1978 to 1981, while the rest were used for racing purposes — the car also claims the title of BMW’s first mid-engined model to be mass-produced, and now commands a price tag of £500,000 or more for what little of them remain today.

But that’s enough ramblings from us, watch, and more importantly listen to the beautiful sounds of the BMW M1 as driven by James from the YouTube channel MR JWW.

Bronze treasure unearthed

The car was put away in favour of something more practical, and when his father was unable to drive any more, Matt’s friend asked him to come and take a look at his dad’s old Holden. It turned out this was one of those phone calls that leads to that feeling of pure joy in the classic car world — the ‘barn find’ that turns out to be even better than expected. The HT Monaro had been put to bed some years before and had not seen the light of day since. Layers of dust and boxes of junk littered her undercarriage and bodywork and access points all around.

NZ Classic Car magazine, September/October 2026 issue 407, on sale now

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“The owner offered it to his grandchildren, and they didn’t want it, so he got the guy out at Mosgiel in the Mobil petrol station to sell it for him, and he put it on Trade Me for them. We never met the owner, and we were always dealing with the guy at the petrol station. We put a bid on it, and we were the only people that bid on it.”
Their bid was eventually successful, eight years ago. Not knowing much of the history, in situations like that, it’s always a risk buying a car, but they were in for a bit of a surprise.