A lot depends on the cosmetic and mechanical condition as well-any paint done?How is the leather?Do the shocks leak (expensive to replace)?How smooth is the transmission-any grinding?Were the inspections done-valve clearances checked?Any noticable leaks (a common M5 problem)?Keeping in mind M5's are expensive to maintain (especially high mile ones)you may be better off paying $22k for one with 65k to 90k miles in better overall condition.There are quite a few for sale in the Roundel magazine.