An attractive example of BMW’s sought-after performance hero, equipped with a handful of subtle modifications, and benefiting from extensive mechanical refurbishment. It is powered by an ‘S54’ 3.2-litre straight-six, producing 338bhp, and driving the rear wheels through a six-speed ‘SMG’ automated manual transmission with paddle shift. This M3 has been with its current owner for approximately four years, and was subject to a full cylinder head and VANOS rebuild around 2,000km ago. This example boasts the rare, genuine CSL alloy wheels by BBS, and a revised suspension setup. This E46-generation M3 is finished in Silver Grey Metallic over a black Nappa leather-trimmed cabin with aluminium shadow brushed inlays, and rides on a set of 19-inch CSL double-spoke forged alloy wheels. It has been enhanced with black kidney grilles, and black front quarter guard vents, and a blackout M3 badge on the boot lid. The windows all have a 20% 3M ceramic IR tint. The factory specification also includes an electrically operated glass sunroof, a premium Harmon/Kardon sound system, tinted windows, climate control, and electrically operated front seats with three-position driver’s memory. Adjustable MCA Suspension ‘Street Essential’ coil-overs have been fitted, which still deliver an OEM feel, along with Eibach wheel spacers and studs. A modern Android-based infotainment unit has been added. The car comes with the original owner’s book pack, service book, various receipts including the original purchase receipt, toolkit, tyre inflator and warning triangle. It will be sold with numerous spare parts, including fresh rear quarter window seals, new OE rear brake lines, two oil filters, 10 litres of new unopened engine oil, two valve shim kits, and an air filter, among other items. The seller will also include specialised tools needed to perform maintenance on the car for the DIY enthusiast, such as valve shim removal and install tool, valve clearance feeler gauge set, rear trailing arm bush removal, and install tool and fan hub spanners. Specification highlights: S403: Electric glass sunroof S431: Interior mirror with automatic dip S459: Electrically adjustable seats with memory S508: Park distance control S521: Rain sensor S522: Xenon headlights S534: Automatic air conditioning S550: On-board computer S609: Navigation System Professional S644: Mobile phone and Bluetooth preparation S674: Harman/Kardon hi-fi system S710: M leather steering wheel S737: Aluminium shadow brushed interior mouldings There is no known bodywork damage. The Silver Grey metallic paintwork is believed to be all original and is in good condition for its age, with some stone chips on front bumper and bonnet, a few small scuffs on the nearside front bumper, some minor water staining on the bonnet, and a small blemish on the nearside wing mirror. Moving inside, the original black leather upholstery presents excellently for the mileage. There are some creases on the front seats, a couple of blemishes on the centre of the front passenger seat, and some wear to the driver’s upright bolster. The door cards display a few signs of use, and there is some slight peeling around the door-mounted speakers. Its headlining is in great shape, with no sagging of the A- or C-pillar covers, which is a common E46 M3 issue. Its steering wheel has been re-trimmed, and it has been fitted with new OEM cup holders and a new coin tray. There are no known mechanical or electrical faults, and no warning lights are illuminated on the dashboard. This M3 was most recently serviced in February 2021 at 170,397 km by German car specialist G-Spec, who performed an Inspection II and oil service, including replacement of the air filter, rod bearings and starter motor. Around 2,000 km ago, this BMW M3 was subject to a full rebuild of the cylinder head, including new intake and exhaust valves, valve guides and valve stem seals, and adjustment of the valve clearances. The surfaces were checked for flatness, and the head was ultrasonically cleaned and pressure and crack tested. The VANOS system was also rebuilt at the same time, with a Beisan Systems oil pump drive hub, solenoid pack, exhaust upper timing chain guide, anti-rattle kit, and seal kit. New OEM VANOS hub spring plates were fitted, along with a replacement valve filter and seal kit. During this rebuild, the M3 was also fitted with a new head gasket, exhaust gaskets, intake gaskets, and valve cover gasket. The rod bearings were replaced with ACL Race items, and ARP rod bolts and head studs were installed. A raft of replacement OE items were also fitted, including timing chain tensioner, camshaft position sensors, engine mounts, starter motor, water pump, thermostat, viscous fan hub, drive belts and pulleys, temperature and pressure switches, new coil packs, and a brass coolant bleed screw. Other notable mechanical work includes a gearbox service, incorporating a new OEM gear position sensor, drain and fill plugs, and extension housing seal. The SMGII software was also re-flashed with the ECUworx CSL 255 update for smoother and faster shifting. As well as being fitted with adjustable MCA coil-over suspension, this M3 has also received new OE sway bar drop links, rear trailing arm bushes, and front and rear strut tower reinforcement plates. The driveline ‘Guibo’ has been renewed, along with the tailshaft bolts, and with the rear differential oil and plugs have been changed. Powered by a superbly sonorous straight-six engine, the E46-era BMW M3 is a celebrated performance hero, and delivers a wonderfully involving driving experience without sacrificing the 3-Series’ inherent practicality. This well-cared-for example has been used and enjoyed as intended, and benefits from significant recent mechanical refurbishment including a full rebuild of the cylinder head and VANOS system. It would make for a rapid daily driver, a fantastic track-day toy, or tasteful addition to a collection of M-car greats. The description of this auction lot is, to the best of the seller's knowledge, accurate and not misleading. Collecting Cars requests a range of detail about the lot from the seller, and performs a level of due diligence. However, bidders must satisfy themselves as to the accuracy of the description, and conduct any research they feel is necessary before committing to a bid. Please see our Terms and Conditions for full details. This vehicle’s VIN has been checked against the Australian Personal Property Securities Register, and while there is currently a finance agreement in place, this will be settled as part of the sale. This vehicle has been checked through the Austroads NEVDIS system, and there are no markers under the written-off or stolen databases.