The Dinan S-1 M5 That Got Away

It’s been quiet this summer on the M car front. It’s good news there hasn’t been big maintenance needs, not so good news that there were no DIY events in the past few months. Here’s a post about something else that didn’t quite happen – I came close to purchasing a Dinan S-1 M5.

Of course as the classic expression goes, close only counts in horseshoes, hand grenades and drive-in movies. But it was an exciting purchase to contemplate. A well-known enthusiast and member of the E39 M5 Facebook group put the car up for sale. He was located in western Maryland, not close but very driveable. There was no question he was the type of person you want to buy this car from:

If you or someone you know is in the market for a low mileage, well maintained, tastefully modified and enthusiast-owned LeMans Blue M5, this could be the one you’ve been waiting for. This is an outstanding car with an accident free 2 owner history. I’ve owned a huge number of M5’s in the past 16 years and I find this one to be among the best I’ve had overall. I would keep it myself, but I’ve recently invested in several cars and have accumulated a mini collection of old school muscle. 

If you’re reading this post you probably know the Dinan name. Steve Dinan was the premier tuner of these cars back in the day, and was the only shop certified by BMW. Dinan offered a 4-year, 50K mile warranty on his work that matched BMWs new car warranty. He sold the business in 2013 and started a new company, CarBahn, in 2019 focused on newer BMW models.

The car for sale was a 2003 Dinan S-1 M5, which included the following: Stage 2 Engine Software; High Flow Cold Air Intake; Free Flow Exhaust; Front Strut Tower Brace; Rear Shock Tower Brace; Stage 1 Suspension System-Koni (Dinan Mono-Tube shocks available as an option); Dinan Pedal Pad Set; Serial Numbered S1 Plaque; Dinan Deck Lid Badge.

I already have a Lemans Blue E39 M5, but this one had substantially fewer miles and the Lemans interior, which I like. The mods don’t add much horsepower or torque, but greatly enhance the handling of the car. Or so I’ve read – I did not get out there in time for a test drive. Here’s the Dinan catalogue for the E39 M5 – some but not all parts are still available from Dinan.

For a few days the plan was to purchase this car, then transfer over some items from my current car. Bigger things like the Euro headlights and donut spare, and smaller things like the trunk mat, euro center console, and bluebus module. Then I’d sell my car, probably using one of the main online auction sites, Bring a Trailer or Cars and Bids.

My car wouldn’t bring nearly the amount this car was priced at, but what I’m confident I could get would take a substantial bite out of the spend. I’ve a bit of a track record for these near misses. Three years ago I almost did something similar with my E46 M3, in that case getting out-bid on Bring a Trailer.

I couldn’t make it to see the car until the weekend. The buyer could and bought it immediately. That means it wasn’t meant to be. I already have two great cars, and if there is a next time maybe I’ll move faster. Happy Labor Day!

UPDATE – this deserves a link. Doug DeMuro talking cars that will continue to appreciate in value. He leads off with analog BMW from the 1990s and early 2000s, and specifically calls out my two vehicles.

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