The BMW 7 Series has been a staple in the luxury sedan market for decades. While many other manufacturers have struggled to match its success, the 7 Series consistently stands out. The first generation, known as the E23, introduced a six-cylinder engine, advanced technology, and features like an onboard computer and sophisticated climate control.
The E32 followed, bringing a V12 engine into the lineup and marking a notable advancement for the series. However, the E38, launched in 1995, remains one of the most admired models. It’s known for its timeless styling, diverse configurations, and surprisingly affordable prices on the used market.
E38: The Perfect Blend of Style and Performance
The E38 7 Series, launched in 1995, is often considered the best iteration of the luxury sedan. The model introduced a more refined design compared to its predecessors, borrowing some styling elements but presenting a more mature and elegant appearance. The E38 was offered with a range of engines, from the entry-level inline-six to the more powerful V8s and V12s in higher trims.
The 7 Series was also available in three body styles: short, long, and limousine, offering plenty of options to suit different tastes. BMW’s commitment to cutting-edge technology was evident in the E38, which was the first car to feature curtain airbags and satellite navigation in Europe. It was also the first BMW to have an onboard television and the last model in the 7 Series line to offer a manual transmission.
In terms of driving comfort and performance, the E38 delivered with features such as auto-leveling xenon headlights, Active Comfort seats, and Electronic Damper Control. These features, combined with its luxurious interior, made the E38 an incredibly appealing vehicle. Despite its high-end features, the E38 is available at surprisingly affordable prices in the used market, especially when in decent condition.
Affordable Prices for the BMW 7 Series E38
The BMW 7 Series E38 is available in various trims, and the average selling price for the entire range is around $15,183, according to Classic.com. However, this is the average for all models, including both entry-level and top-tier variants. For the entry-level 728i, which features a six-cylinder engine, the average price is significantly lower, at about $6,231.
If you’re looking for a 728i in pristine condition, the price can climb up to $13,000. In 2020, a 2000 model with low mileage sold for $10,850, while a 1998 model in original condition went for $13,406 in 2023.
On the other hand, the range-topping 750iL, equipped with a V12 engine, demands a higher price due to its added luxury and performance features. The average price for a 750iL is about $18,894. At the time of writing, a 1998 750iL with 216,000 miles was listed for $25,500, while a 2001 example with just 71,000 miles was going for $31,000.
One standout sale in 2023 was a 2001 750iL Sport with only 55,000 miles, which sold for a staggering $61,000. Another 2001 sedan with 37,000 miles sold for $45,100, further illustrating the high demand for low-mileage examples in excellent condition.
The Alpina B12: A Rare Gem
Alpina, known for its performance modifications to BMW vehicles, has a history of producing special versions of the 7 Series. The Alpina B12, available in both 5.7 and 6.0 versions, is one of the most sought-after models in the E38 generation. These cars offered significant performance upgrades over the standard 7 Series, including enhanced V12 engines and luxurious interiors with high-quality leather.
The B12 5.7 was equipped with a modified 5.7-liter V12 engine, featuring new cylinder heads and other performance-oriented upgrades. Alpina produced only 202 units of this model. The B12 6.0, which had a more powerful engine, was even rarer, with only 84 units built. It was, at the time, the most powerful and fastest naturally aspirated engine produced by Alpina.
Today, both versions of the Alpina B12 command high prices on the used market. The average selling price for a B12 is around $57,347. In 2023, a B12 5.7 with 57,000 miles sold for $70,000, while a more worn version with 163,000 miles went for approximately $25,127.
The B12 6.0 is even rarer, and when one appears for sale, it tends to fetch a significant premium. For instance, a 2000 B12 6.0 with 114,000 miles and showing some wear was listed for $56,000 in 2023.
Final Thoughts: A Timeless Luxury Sedan
The late-1990s BMW 7 Series, particularly the E38 generation, remains a standout in the luxury sedan market, offering a combination of style, performance, and advanced technology that was ahead of its time. While the prices for some models, particularly the 750iL and Alpina B12, can be steep, the entry-level 728i offers a more affordable option for those seeking luxury at a reasonable price.
Whether you’re in the market for a well-preserved example of the 728i or dreaming of a high-end 750iL or Alpina B12, the E38 7 Series continues to deliver on its promise of luxury and driving pleasure, even decades after its initial release.
