If anyone is interested in the history of this car, search the M5board using username BigGar and threads he started. This car was one of three extremely well-cared for E39 M5s with very low mileage (back in 2008) that were part of an extensive collection maintained in a large climate controlled facility.
This car sold at an RM auction along with a 2000 model with about 1900 miles back in 2010.
FWIW, EAG sold a 390 (?) mile E39 M5 for $149k about 18 months ago. I seriously doubt anyone that is bidding on this car is worried about a gasket leak or has any intention of actually driving very far.
Pricing on E39 M5s has been growing very strongly for well-kept cars. I owned my 2001 for over 14 years and recently sold it at 66k miles on BaT for $34k ($35,700 buyer cost). My car was garaged 24/7 since new, almost never in rain, never in bad weather, and driven only ~1200 miles/year for the past 10 years. I never experienced all these internet horror stories about cars that aren't driven "enough."
It was a fantastic car that when driven was exercised "fully and completely" after a careful warmup. One of the best memories was trying to catch my daughter on track at NCCAR about 10 years ago; I was in her E46 and she was driving the M5. The wail of the Dinan exhaust from the M5 and it's lowered stance as it pulled away strongly on the straights was incredible.
Out of all the BMWs I've owned and then sold over the last 40+ years, the E39 M5 and my 1972 Bavaria go down as my favorites.
