Would I be right in thinking at this kind of milage the head gasket is probably due a change? This info on the S54 in Zs at this milage is relatively thin, under 100k all the obvious elements have been done although it doesn't mention gearbox and engine mounts.
From m3cutters it seems like head gasket, camshaft and follower wear are items that can be more prevalent and there are quite a few over 200k. Guessing the clutch will probably will need doing too. It's all a lottery is suppose as it may have spent a lot of time on the motorway.
There are loads of assumptions on this car because the info is so thin history looks good with the current owner with it being looked after by Redish but previous to this owner there is no info on the listing. There are a few yellow flags tho things like missing keys and the central locking not working etc on a 2 owner car seems odd to me I would sort that to remove barrier. Few mot failures and one on a fuel tank leak. Milage seems like it's done 10-12k consistently most years, usual flags things like tyres near the limit, brake lines are mentioned a few times but there's no mention in the listing.
I would be interested to see what the history was previously, where it was done, when etc.
The positive thing is the Z has the last variant of the S54 where most kinks were worked out. I think the main thing I was trying to say is even if its 100-120k its still a fair amount lower and for the extra 1-2k on the budget can save a few ££ headaches as people seem to move them on seasonally.
It's all horses for courses save 2k here spend 2k there on maintenance. I mean if we are going to work to that rhetoric £695 to tax and insurance has increased heavily this year. Cost me £1345 to tax and insure mine this year, another £600 to service it. Like I said if your handy and do work yourself its a perfect candidate but I would say thats not the majority of buyers.
At the end of the day were not talking huge swings like 15k will buy you a 100k miler, 20k for a 60-80 25-28 will get into 40-60k. In sports car terms it's not huge amounts of money, I still think 25k for a low milage 343hp NA sport car with a manual is a bargain. You would need to find 10-15k more to buy a similar 997 with <60k on it and it will cost more in maintenance as they are more sensitive, even more worries.
This is probably why the convo sparks because generally these cars are cheap in the grand scheme of the market. Look at other M cars like good E46 M3s and E39 M5s eye watering money now.
You can spend ££ pretty quickly ive spent 5k in my 4 year ownership to get it back to what I think is a suitable standard and still have bearings and mounts to do, my vanos test passed with flying colours which is positive.
It is a thing in the UK it doesn't matter who you speak to, people will look for what ever they feel a "low milage example" is, especially when these are niche and you tend to get enthusiasts buying who want good ones to take to shows etc you also have the "milage is irrelevant buy on condition", fair enough but its also selling them on. Then again if your keeping it you can grab a bargain, but this isnt a bargain its nearly £16k but has some nice bits on it!
Whether you agree or not milage means something to the majority of buyers. Just depends how you feel about it. Personally I land somewhere in the middle. My Z4MR was £14.5k and had 63k on it.