To help answer some questions I've received, please read below:
I bought this car with the intent to surprise my parents for their upcoming retirement. However, in keeping it a surprise, they ended up buying a different convertible from a neighbor for a very reasonable price. That car is slightly nicer than this one (Mercedes 560SL) and is more their style - they have seen this car but the red is too "flashy" for them. So they no longer have room for another car (on top of the three cars and two motorcycles they have now) and I really don't have a use for a convertible. I've been driving BMW's for a while now (more than ten years, less than 20) and have owned several cars of this generation. This car drives as nice as the 1997 328i I had when that car was then three years old. And its in as nice condition too!
I received no service records for the car so I have done the next best thing. My BMW mechanic (25 years of experience) has evaluated the car and found absolutely zero issues. No vibrations during driving, no overheating or cooling problems, no unusual noises, no apparent fluid leaks, suspension is tight, steering is like any BMW from this era (tight, responsive, excellent feedback) and it works as intended, exhaust sounds great, accelerates and shifts like the car is supposed to - he said the car is as nice as it can be for a 1995 unless it had been stored in a museum since new. The motor had an oil change two weeks ago, and the brake light switch was just replaced since it was intermittently failing (the switch failed during a test drive on Sunday). This is a common issue on every older BMW I have owned. The rubber around the radio antenna has crumbled away, so I have a replacement part on order from my local BMW dealer - I should have that in two or three days and it will be replaced before the car is on it's way to the new owner.
Option wise you didn't have many options to choose from in 1995. Automatic transmission, premium package and all-season traction control are the installed options. It is pre-wired for a CD changer but one was never installed.
NADA shows the market valuation to be over $7000. I believe that to be accurate because I saw another similar convertible in Florida sold (via eBay) for $6500 (same model, a few more miles but different color combination).
If you have any questions not covered above, please do not hesitate to ask.