Hi there, I'm the owner of the aforementioned M325i advertised on trade me.
The reason for the relatively high asking price is the condition and originality of the car (compared to others for sale) and the work that has been done on it (alot $$$). Between 150-180 Miles the M20 motor is getting pretty close to needing a head overhaul. This has already been done. At this age rust can also become an issue, especially around the rear wheel arches. again, in this case that has been seen to. those 2 jobs alone cost around $2500 each to be done properly. It has also had the clucth replaced among other things. As for whether it is genuine, it is a U.K spec 325iSport (same as an NZ 325iMotorsport), I spent almost a year looking for one I was happy with 5 years ago. Best way to check is look at the diff, and make sure it has a black headlining. Building a convincing fake would probably be more expensive than buying a real one anyway. Finding a manual 325I is hard enough. And oh yeah, $11,500 is the ASKING price