One of my top three 'M' cars. I've been saying for years now, that they are undervalued. But at £20K you'd really need to have the hots for one, in fairness to get a £5K one into that condition, 20K seems almost right.
My parents had a customer in 1996/7 that had an identical car; wonder if its the same one. My Dad had a W124 coupe at the same time and it was then my merc-geek took hold, seeing the E500 around town...
Cracking cars, 5 speed dogleg getrag gearbox, twin servo, 6 pot calipers, LSD diff all from the factory, I have owned three of them, the E12 5 series M535i was the first proper M car. Awesome cars, and for the day they were quick! Though this one is missing the black rubber boot spoiler that all three of mine had.