Possible M3 vert purchase

[Mr. Bill]

I may have an opportunity to purchase a '99 M3 convertible. Specs as follows:
155K miles
Automatic
Southern car (no salt/rust)
Silver/Grey/Black top
I'd rate the car as a 6.5 of 10. It's all there, just needs some love

I have a couple questions for the experts here:
Value wise, is an automatic less desirable?
Are there any common issues to know/check?
What would be a fair market value?

I have owned 8-9 BMW's and currently have a '96 318iC vert that I've been bringing back to its former glory. I don't need another project but a chance to buy an M3 doesn't come along very often. I'm prepared to spend at least $3-K to bring it up to snuff. The only issue I noticed so far is the top is a little balky and when you put it in Reverse or Drive, there is a rattling noise that sounds like a metal shield rattling against other metal. Going to put it on a lift to see what I can see. Thanks to this site, I'm a pretty capable DIY'er.

Love to hear y'all's opinions. Thanks in advance!

[Eric93se]

Sure auto lowers the price, so does paint, rust, 4-door, does it have a service history? The vert also lowers the desirability. Mileage of course.

Make sure you do a compression test, remember these heads if they over heat warp and can crack, a compression test should reveal that (other problems can cause low or no compression in a cylinder).

It being a '99 is nice but I would not spend over 6k.

[Mr. Bill]

Thanks!