Overrated or Peak M? Adam's Thoughts on the BMW M3 GTS

Speak to the right kind of enthusiast, and you’ll quickly learn that the E92 M3 GTS is one of the most underappreciated icons of its era. A car that was misunderstood when new. And now? Quietly climbing the ranks of the modern classic elite.

Back in 2010, BMW M offered the GTS at over £115,000 — more than double the price of a standard M3. What you got for the money was divisive: no rear seats, no creature comforts, and a paint colour closer to cone orange than competition silver. It wasn’t just a track car. It looked like a track car, and many buyers simply didn’t get it.

BMW planned to build 150 examples. In the end, they made just 138. Not because of parts shortages or regulation — just lack of demand. It’s a familiar story for fans of misunderstood specials. Lamborghini faced the same with the Murciélago SV — a car they intended to build in a run of 350, but ended up capping at 186. Cars like these were simply ahead of their time. In today’s market, both would be oversubscribed before the first customer drive.

There’s a cynicism that floats around cars like this, that you could build one yourself for less. And technically, you can. Take a regular E92 M3, fit coilovers, a cage, an exhaust, delete the seats, go wild with the stickers, and maybe you’ll get close. But it’ll never be a GTS. These cars are more than their spec sheets. They’re stories, chapters in a brand’s history, built by the right hands at the right time.

Most GTSs now live quiet lives in collections, and fair enough. It’s one of the rarest production BMWs ever made, and the last naturally aspirated M3. That alone makes it a cornerstone for any serious collector. But to drive it is to understand it.

Unlike many specials, the GTS doesn’t wilt when driven hard. It shines. On the road, it feels sharper than it has any right to. On track, it’s built to torment GT3s — not beat them on paper, but unsettle them with character. Grip, feel, and fury in equal measure. In the shadow of turbocharged successors and ever-faster lap times, it’s cars like this that remind us of what driving used to feel like. Raw. Mechanical. Emotional.

The GTS is finally earning the reverence it was denied in period. Prices are rising. Awareness is growing. And collectors are waking up to the fact that this wasn’t just a special M3 — it was the last of its kind. This isn’t just a future classic — it’s a story of missed demand, reborn through hindsight. And in years to come, the M3 GTS won’t just be remembered. It’ll be revered.

Opportunities to buy these cars don’t come up very often, but if you have a hankering for one or are looking for a safe place for your money, now is the time to pounce before this is another 997 GT3 RS 4.0, another Enzo, another car you wished you bought that appreciated out of reach.

Three things you didn’t know about the BMW M3 GTS

1. It wasn’t meant to be this rare
BMW originally planned to build 150 GTSs, but due to lukewarm demand at launch, just 138 were produced. In today’s market, it would have been a sell-out success.
2. It was never sold in the U.S. or Australia
The GTS was built exclusively for European markets. It wasn’t homologated for the U.S. or Australia, making it even more elusive to collectors outside the EU — only a handful exist overseas today via private import.
3. It was the only E92 built by hand at BMW M
Every GTS began life as a standard M3 shell before being stripped, caged, and rebuilt by hand at BMW’s M facility in Garching. It’s as close to a factory race car as BMW ever put on the road.