The M3 may have shared a passing resemblance to the garden-variety E30-generation 3 Series when it broke cover at the Frankfurt Motor Show in 1985, but beneath those boxy rear arches lay wholesale mechanical changes introduced to homologate the model for Group A Touring Car competition. Advanced features include independent front and rear suspension with gas dampers, an anti-roll bar, and servo-assisted ventilated disc brakes—not to mention a wider track with beefed-up wheels and tires. Most notable, however, is the Paul Rosche-designed “S14” engine—a 197-horsepower, 2.3-liter double-overhead-cam four-cylinder which made the M3 an overnight performance legend.

In its inaugural year of availability, privately run and works-backed M3 entries dominated the World, Italian, Japanese, and German Touring Car Championships. The model continued this success streak with further titles in the 1988 European Touring Car and 1989 German Touring Car series, two British Touring Car crowns (1988, 1991), as well as three consecutive drivers’ championships in the Italian Touring Car series (1989, 1990, 1991) and six more consecutive titles in the Japanese Touring Car Championship (1988 through 1993).

The M3’s impressive exploits on the track translated to feverish sales for the model’s 5,000-unit homologation run. To catch up with the public’s demand for the model, BMW revealed rare special-edition M3 subvariants such as the M3 Evolution, the M3 Cecotto, M3 Roberto Ravaglia, M3 Sport Evolution, and, finally, the BMW M3 Convertible. With just 786 examples produced, this rarely seen model is in fact the sole Touring Car homologation special of the period to be featured in a convertible variant. Like its coupe brethren, the M3 E30-generation Convertible is derived from motorsport, combining thrilling performance and open-top extravagance in a way that had never been implemented before.

Finished in the excellent color combination of Macao Blue Metallic over black leather and a matching fabric top, this wonderfully preserved M3 Convertible is a German-market example delivered new to BMW Autouhaus Schaumberger of Landsberg in June 1989. Its original specifications are highlighted by the desirable “dogleg” five-speed Getrag transmission, a BMW Bavaria C cassette, heated sport seats, onboard computer, M Sport steering wheel, black fabric top, and light alloy wheels.

With only two recorded owners since new and an odometer reading of just 3,980 kilometers (~2,472 miles) at time of cataloguing, this notably original M3 Convertible is among the finest remaining specimens of the model available. Accompanying the sale are a matched spare, tool kit, history file complete with original sales invoice,Fahrzeugbrief, and set of manuals.

It is an incredible time-warp example of BMW’s first homologated convertible with world championship pedigree.