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I just ran the car through the Kelley Blue Book private party value check, and a 2001 M3 vert' w/ 18,000 miles in excellent condition should go for $40-$41,000. Sounds like a good buy to me.
Personally I like the Coupe more then the Convertable, and you should be able to get a coupe for less, but if you like it, thats awesome. M3s are great cars.
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Kimi Raikkonen 2007 WDC
Scuderia Ferrari 2007 WCC
"I collect walnuts"
-Kimi Raikkonen on his hobbies outside of F1
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