Bitten by the convertible bug...

[adamred]

The weather in NJ is positively glorious and for the first time in a long time I'm seriously bitten by the convertible bug...
Am considering a BMW, e30 convert...
Would be nice to park my gas guzzling CLS 500 for the summer, get some rays, save some gas, have some fun and still be able to haul the kids/dog around.
Thoughts from the PPOT sages? Things to watch out for? What should be a target price for a >100K late '80s e30 convertible?
Anyone know of any for sale within say 100 miles of NYC? I see one on the 'bay he's got a $3500 buy it now.