A bright red BMW convertible, black leather seats and the prospect of enjoying some open-top motoring on a sunny afternoon.
What’s not to like?
Well, perhaps the running costs, depending on the car!
But when this 2005 BMW 318Ci E46 Convertible appeared at Anglia Car Auctions’ first-ever Marketplace Modern Classics sale, we couldn’t help thinking it looked like a rather enjoyable way to spend the summer.
Finished in Imola Red, with a 2.0-litre engine and an MOT running until June 2027, it was being offered without reserve.
We filmed the bidding at King’s Lynn on 26 September 2026, and the result demonstrated just how accessible some modern classics have become.
The BMW E46 generation of the 3 Series arrived in 1998, replacing the hugely successful E36.
It was a particularly important model for BMW, combining the familiar rear-wheel-drive layout with improved refinement, modern styling and a range of four- and six-cylinder engines.
The Convertible followed in 2000 and quickly became a familiar sight on British roads.
With its four-seat layout, electrically operated fabric roof and well-appointed interior, it offered something slightly different from the traditional two-seat roadster.
You could enjoy a sunny afternoon with the roof down, but there was still room for passengers and luggage.
And unlike some more expensive sporting convertibles, the 3 Series was designed to be an everyday car.
More than two decades later, the E46 has developed a following of its own.
Enthusiasts appreciate its styling, relatively straightforward driving experience and the fact that it still feels distinctly like a BMW from an earlier era.
The more powerful six-cylinder models naturally attract plenty of attention, but the four-cylinder cars have their own appeal, particularly for buyers more interested in relaxed open-top motoring than outright performance.
This particular example was a 2005 BMW 318Ci Convertible, powered by a 1,995cc four-cylinder petrol engine.
Despite the 318Ci badge, the later E46 models used a 2.0-litre engine rather than a 1.8.
The 318Ci was never intended to be the fastest car in the range.
Instead, it offered a balance of reasonable performance, comfort and everyday usability.
And for someone simply wanting to enjoy a summer evening with the roof down, that could be more than enough.
The Imola Red paintwork was certainly a strong point in our eyes.
It’s a colour that suits the E46 particularly well, giving the car a sporting appearance without needing any elaborate modifications.
Inside, the BMW featured black leather upholstery and heated, electrically adjustable memory seats.
According to the vendor, the electrical equipment was working and the car drove well.
Those are encouraging claims, although naturally any prospective buyer would need to satisfy themselves about the vehicle’s condition.
The BMW had covered 127,600 miles and had six registered owners.
According to the auction catalogue, a previous keeper had owned it for 12 years, using it for regular daily journeys.
The vendor also described the car as having been serviced regularly.
One particularly important detail was the replacement engine.
The original 2.0-litre engine had been replaced in 2016, when the car was recorded as having covered approximately 89,000 miles.
An engine replacement isn’t necessarily a reason to dismiss an older car, but it’s certainly something we’d want to investigate.
The reason for the replacement, the condition and provenance of the replacement unit, and the standard of the installation would all be relevant.
It’s the sort of detail that makes examining the accompanying paperwork particularly worthwhile.
And with a car of this age, the maintenance carried out over the years can be just as important as the mileage displayed on the dashboard.
There was some encouraging maintenance history in the auction description.
The BMW had received an oil and filter service a few months before the sale, reportedly costing £399.
Other recent work included replacement rear brake callipers and discs, together with a rear coil spring.
The car was accompanied by receipts, previous MOT documentation, spare keys and its book pack.
Its MOT was valid until 9 June 2027.
Of course, an MOT certificate doesn’t guarantee that a car will be free from faults, particularly as it gets older.
The catalogue also highlighted some cosmetic imperfections.
The bonnet had been resprayed approximately two years earlier because of lacquer peel, and the vendor acknowledged that some other panels would benefit from similar attention.
We rather liked that the description was straightforward about these issues.
Not every affordable modern classic needs to be a show car.
For someone wanting a usable summer convertible, a few cosmetic imperfections might be perfectly acceptable.
The more important questions are often about the mechanical condition, the roof operation and whether the car has been maintained sufficiently to provide enjoyable, reliable motoring.
This BMW appeared as Lot 9 at Anglia Car Auctions’ inaugural Marketplace Modern Classics sale on Saturday 26 September 2026.
The new sale provided an opportunity for more affordable modern classics and enthusiast cars to find new owners through the auction process.
And the E46 Convertible seemed an appropriate candidate.
It wasn’t an exotic sports car or an exceptionally rare BMW.
It was a recognisable, relatively accessible convertible that could appeal to someone looking for an enjoyable second car.
Importantly, it was offered without reserve.
That meant there was no reserve price preventing the car from selling if the bidding remained relatively modest.
We were at the sale filming the individual lots as they passed through.
And although the BMW didn’t generate the most exciting bidding contest we’ve ever witnessed, it was still interesting to see what the market would make of it.
The bids progressed until the hammer fell, with the successful buyer bidding from the room.
Sometimes the appeal of an auction isn’t an extraordinary car or a frantic bidding battle.
It’s simply discovering what an ordinary, usable modern classic can actually be bought for.
We filmed this BMW as it went through Anglia Car Auctions, including the bidding and the final result.
Watch the full auction play out below:
The hammer fell at £1,750, with the car going to a bidder in the auction room.
That’s a fairly modest sum for a bright red BMW convertible with leather upholstery and an MOT extending well into the following year.
The buyer would, of course, have had to pay the applicable auction fees in addition to the hammer price.
And the replacement engine, mileage and cosmetic imperfections all needed to be considered.
But we couldn’t help thinking that, provided the mechanical condition was satisfactory, it looked like a potentially enjoyable purchase.
After all, £1,750 doesn’t buy a great deal in today’s used-car market.
And there was something rather appealing about the thought of driving away in a BMW convertible for that sort of money.
We wouldn’t automatically describe it as a bargain without inspecting it more thoroughly.
An older premium-brand car can become expensive if neglected maintenance or unexpected faults need attention.
But there’s a difference between buying a cheap car and buying a car that might offer a great deal of enjoyment for relatively little money.
This BMW certainly made us think about that distinction.
The E46 Convertible occupies an interesting position in the modern classic market.
It’s old enough to have character, but modern enough to provide many of the comforts people expect from an everyday car.
There are plenty of more valuable and collectible BMWs, including the M3 and desirable six-cylinder Sport models.
But not everyone wants to spend substantial sums on a weekend car.
For someone who enjoys open-top motoring, the more affordable four-cylinder models can still offer much of the same experience.
The styling, driving position, rear-wheel-drive layout and feeling of driving a BMW convertible are all still there.
The important thing is to buy carefully.
Corrosion, cooling-system problems, suspension wear, oil leaks and ageing roof mechanisms are among the areas worth checking on an E46.
A low purchase price can quickly lose its appeal if major repairs are required.
But a well-maintained example bought at a sensible price could still provide an enormous amount of enjoyment.
And that’s really what attracted us to this particular car.
There’s no shortage of expensive classic cars in the auction world.
But sometimes the more ordinary vehicles are just as interesting.
This 2005 BMW 318Ci Convertible wasn’t particularly rare, and it certainly wasn’t perfect.
Yet it offered a smart colour combination, leather interior, open-top motoring and the prospect of enjoying a modern classic without a huge initial outlay.
You can see the original photographs, specification and catalogue description here:
View the 2005 BMW 318Ci E46 Convertible at Anglia Car Auctions
At £1,750 under the hammer, we thought it looked like a fun way to spend a summer.
Would you have been tempted to put your hand up?
And if you’ve owned an E46 Convertible, we’d be interested to hear whether it proved to be an enjoyable and affordable car to run.
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