Although no 5 Series before or since has ever been offered as a convertible, there was a seemingly production-ready E34-generation M5 droptop sitting right there 20 years after its creation, collecting dust instead of inspiring a generation of enthusiasts. Apparently, it wasn't always supposed to be that way, as BMWBlog just confirmed that the automaker intended to show the M5 convertible off at an auto show in advance of a production debut.
A Look At What Might Have Been
According to the news outlet, BMW was seriously considering making additional variants of the E34 5 Series beyond the four-door sedan and Touring station wagon – the first 5er of that ilk, by the way. In 1989, while development of the mighty M5 was underway, the M division also started cooking something else up. From the fenders forward, it would look just like its four-door sibling, but a more steeply raked windshield, two custom-fit doors, and a power-operated soft top would set it apart as the first-ever M5 convertible. BMW even had a spot for it all ready to go at the 1989 Geneva International Motor Show in April of that year, but about a week before the curtains dropped, it changed course very suddenly.
The M5 convertible prototype would have had an estimated sales price of £50,000, the equivalent of around $70,000 at the time. Assuming it came to the US at the same time as the 1991 M5 sedan (starting price: $54,000), the convertible variant would have been among BMW's most expensive products. For comparison, the 1991 850i coupe had a starting price of $73,600, while the 750iL sedan started at $74,000 even. It's possible that lofty pricing led to the M5 convertible's demise before it even lived, because according to BMWBlog, the automaker was concerned that the speedy, spacious four-seat droptop would have cannibalized sales (likely from the less comfortable, fixed-roof 8 Series).
We Can Still Dream, But That's About It
The 1989 BMW M5 convertible prototype still lurks around the automaker's heritage collection, but as a priceless, one-of-one piece of history, it doesn't get taken out much. As a result, the chances of us laypeople ever seeing it in person are slim to nil, much less driving it. On the contrary, the similarly seductive E34 M5 sedan is within reach of many enthusiasts, with good-condition examples selling for between $30,000 and $50,000 – or double that if you insist on absolute mint condition.
As compelling as the four-door M car is, we can't help but feel a little jilted that we were robbed an M5 convertible. If it had been successful – ragtops used to be big luxury business – then it might have even spawned an E39 variant, meaning 394 individual-throttle-body horsepower coming from a rip-rorting V8 under the hood. A whole dynasty of open-air M5s could've come about. We're not complaining, necessarily, because part of the sporty sedan's appeal is its Q-ship persona. But still, a large convertible M-car could have been a real dream to drive.
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