The first M5 to offer V8 power set new standards in design and performance delivery. This was a car not vastly different in size or concept from the E34 model it replaced, yet as a driving experience it went closer to perfection than any previous four-door BMW.
E39 versions of the M5 were displayed in 1998 at the Geneva Motor Show and the first cars sold seven months later in 1999. The model was listed for Australian sale during 1999 at $198,500 and remained available here until 2003. By then the base price had dropped to $195,800, but the reduction was significant because the price by then needed to absorb 10 per cent GST.
The E39 was a very successful model for BMW, with 20,482 of all types produced. Build numbers for right-hand drive aren’t exact but believed to exceed 5000 cars. Most would have gone to the UK and Japan, but Australia from 1999-2003 did sell 5327 Five Series sedans, so local deliveries are likely number more than 300.
Unusually for a high-end luxury car, the 5 was offered only with six-speed manual transmission. The 5.0-litre V8 made 294kW at 6600rpm and while performance figures vary depending on the source, you can rely on an M5 in decent mechanical fettle to run from 0-100km/h in 5.2 seconds or less.
As is normal for BMWs, E39 M5s came with an extensive options list and fitting just a few items would that have lifted the cost of most locally delivered cars well above $200,000. Even if you do find one in factory stock condition it is still going to include leather seats with heating and power adjustment.
Throughout the cabin, BMW’s ‘M’ for Motorsport symbol will be liberally scattered, extending even to the illuminated gearshift knob for the six-speed Getrag gearbox with its heavy-duty clutch and altered final drive ratio.
The E39 suspension was brimming with sophistication and parts lifted from bigger BMWs. Included was Dynamic Stability Control which adjusted damper settings to deliver optimum ride. Wheels were 18-inch diameter alloys, wider by 1.5 inches at the back than the front and running 35 and 40 Profile tyres.
The engine was derived from BMW’s long serving 4.4-litre V8 with an expanded bore and extended stroke, a higher 11:1 compression ratio, and continuously variable valve timing (VANOS) units acting on exhaust and inlet valves.
A car this complex must be serviced on time by specialists, using only correct parts and recommended lubricants. Avoid any M5 without complete service history.
Despite the scarcity of finding locally delivered M5s, values have only recently begun to recover and are yet to reach even half the cars’ original cost.
