May be a reasonable price, perhaps a little high but the dealer can probably get it if he gets it out on the internet. You already know this, but I would give it a thorough examination, by a reputable indy bimmer tech, if possible, though you appear to have lots of bimmer experience yourself. As it passed through a dealer, I assume no service history available, unless you can get it from a BMW dealer for the service at the New England dealer. Get its codes history read at the BMW dealer if you can, and look for all the common M54 issues [ccv, oil leaks, water pump issues, suspension]; I would have a Blackstone analysis run on the engine oil and tranny [unless they were recently changed]. Good luck! For comparison's sake, I bought my comparable example at Enthusiast [an M dealer outside Cincy] in Oct 2013, with 8k on the odo, for $18k, in pristine condition with $4k+ in service they put into it for the sale. That was top of the market then for a facelift M54 stickshift version. Does it have an OEM trailer hitch
?