Where are you located? Maybe in "BMWLand" there is an imbalance of buyers and sellers. In NJ, that price is a bit high as a
sell price, It's about average for an
ASK price near me. Also bmwusa.com has lists of pre-owned certified cars. Compare and contrast. While my dealership is GREAT on service, they are higher priced than others in the area for things like doc fees, so a little shopping goes a long way. Here's a sample list I pulled off the BMW site:

Good luck
Ed in NJ
PS. Wait until the LAST day of the month. In fact if you can wait until the last day of June (the half year reporting period) they are much more willing to deal. Also, I noticed that certain (non 4.8 X5s) 06's are being marketed at .09% financing. That
raises the price if you need to finance the car. But it'll be tough to get that rate at a bank. Ed