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Try finding another one of these, muses Sam Dawson as he tests a very rare example of BMW’s earliest hot 5 Series
Guaranteed rarity, even in BMW circles
Sharknose BMW M535is are thin on the ground regardless, but this one is even rarer in being an E12-, rather than E28generation car. The E12 M535i was available for less than two years before being replaced by its E28 successor in 1981, and with no M5 back then, this was the fastest, most desirable E12 available from BMW showrooms. Sadly, rustproofing was virtually nonexistent back then, so most have rotted away.
This car hasn’t been immune either, with a couple of advisories for floorpan corrosion in the past, but this has been addressed by a full photo-casebooked restoration by Colourtech of Hampshire in 2023 to the tune of £3500. Vendor HPC has added a brake overhaul and a new power-steering belt. Sadly there’s no earlier history – the V5 form suggests it’s had nine former keepers – but it does come with the charming original book pack.
As a result of that recent restoration, the bodywork and paint now look very straight and consistent in finish, with just a couple of stonechips, which have punched through the BMW M decals on the driver’s-side rear wing. The little-known Ovation Ecovision tyres fitted allround are dated 2018, so could probably do with being changed – E12 M535is were originally issued with Michelin XWXs, and handle best on them.
Unrestored interior could do with refresh
It’s not quite the same story inside. The restoration only focused on the exterior bodywork, and while the interior is complete and solid, it’s slightly faded. The wooden trim has lost its lustre, but at least it hasn’t started to crack, making this an ideal time to subject it to some rejuvenation treatment. The carpet is also loose around the pedals in the driver’s footwell, but HPC says it will address these things before sale. The Recaro seats, however, are in superb condition, looking like they might be recipients of some older restoration work given how badly they used to wear, although there’s no paperwork backing this up.
The 215bhp M90 straight-six fires up instantly on the turn of the ignition key, sending a lovely, lusty noise through a spotless stainless-steel exhaust system. Power delivery is smooth, aided by the slickness of the Getrag dogleg gearbox.
M90 six still smooth and powerful
Handling is still excellent, as is grip, despite the questionable tyres, body roll kept in check and no untoward noises from the suspension. The only issue – on our test drive at least – was the steering, which had a slight looseness around the dead-ahead position. HPC said it would investigate this. More reassuringly though, the brakes are excellent, pulling the car up straight, with plenty of pedal feel and no sogn of fading – often a weak spot of BMWs from this era.
The price is high, but E12 M535is so rarely come to market that perhaps they’re now due a reappraisal, especially given the sums demanded for similar-condition E28 M5s, and the fact that this is a lot rarer. Also bear in mind the extra work that HPC promises to do as well – by the time you read this, this M535i may well be in mint condition.
CHOOSE YOUR BMW E12
► Launched in 1972 to replace Neue Klasse, the E12 was BMW’s first 5 Series. Four-cylinder 520, in carburetted and fuel-injected forms first, then 2.5-litre 525 straight-six.
► Range expanded dramatically in 1974, with 1.8 four-cylinder 518, and straight-six 528 and 533 (2.8 litres and 3.3 litres respectively).
► From 1974, BMW’s Motorsport division offered in-house engine transplants and tuning packages, derived from either the 3.0CSL or 633CSi coupé.
► 520 four-cylinder model replaced with a two-litre six-cylinder version from 1976. Nomenclature remained the same.
► M535i, based on a Motorsport upgrade package for the 528i, entered series production in 1980. E12 discontinued 1981, replaced by new E28-generation 5 Series.
1981 BMW M535i
Price £39,995
Contact HPC Classics, Eastbourne (07834 228821, hpcclassics.co.uk)
Engine 3452cc inline six-cylinder, ohc, electronic fuel injection
Power 215bhp @ 5200rpm
Torque 228lb ft @ 4000rpm
Top speed 138mph
0-60mph 7sec
Fuel consumption 17mpg
Length 4620mm
Width 1690mm
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