Being a secret agent’s car is a top job. You get to park outside the world’s finest hotels, enjoy the fitment of a large number of non-standard factory options (such as rocket launchers and ejector seats) and have the occasional dust-up with a Ferrari on a winding mountain pass.

But there is a downside. You may be blown up, barrel-rolled, or cut in half by a bandsaw. James Bond has always preferred British metal when choosing his company car — notably Astons and Lotuses — but when it was time for 007 to save the world one more time in The World Is Not Enough he committed an act of automotive treason for which some have never forgiven him. Bond went to Munich and got his hands on a BMW.

As a sales puff, BMW must have been pretty happy with the film. By the time its Z8 went on sale in February 2000 both small boys and their dads were drooling over it. Even the hefty launch price of £86,650 didn’t seem a problem.

Only a handful of cars were destined for the UK and the waiting list for potential buyers stretched beyond two years. But some six years after the car’s film-star performance its long-term status as BMW’s ultimate sports convertible is still in the balance. So few were produced that none of the trade guides quotes second-hand values and buyers and sellers have to rely on instinct when setting a price. You can expect to be writing a cheque for £60,000-£70,000 if you want one.

Technically it’s hard to pick holes in the Z8. Under the bonnet is the same lusty 400bhp V8 that powered the previous generation M5 and under the light aluminium skin lurks a light aluminium frame, giving the generously proportioned convertible a modest kerb weight of 1,451kg. A light body and generous power results in electrifying performance. The Z8 sprints from 0-62mph in 4.7sec and has an artificially restrained top speed of 155mph.

Aesthetically, BMW would love us to trace the Z8’s bloodline back to the incredibly rare and valuable BMW 507 of the 1950s but in truth I still see a bit of Jaguar E-type in the Z8’s back end and more than a whiff of Ford Thunderbird in the wide-mouthed grille.

The interior also plays the retro card. Dominating the dashboard are the centrally mounted driver dials and a beautifully crafted three-spoke steering wheel that captures the spirit of yesteryear’s motoring.

But unlike many of its forebears the BMW Z8 has a generous cabin. Both front seats are electrically adjustable and boot space is remarkably good. The standard-fit electric folding soft top requires the minimum of effort and when the weather turns less than perfect the standard hard top is a boon.

As a practical year-round sports convertible the BMW Z8 comes close to perfection but buyers may struggle to extract the car’s ultimate performance on British roads because the steering wheel is on the wrong side. With production so low and with BMW’s eye firmly on the US market, a right-hand-drive Z8 was never on the cards. And with plenty of alternative right-hand-drive offerings available from the likes of Porsche, Mercedes-Benz and Ferrari it’s easy to understand why some buyers will be put off by the BMW’s compromised wheel position.

Like most ultra-exclusive limited-production sports cars, the BMW Z8 was always going to lead a privileged life. The chances are that second-hand examples will have covered minimal mileage and been serviced to within an inch of their lives, but don’t get complacent.

Make sure that the car you are looking at has a proper service history. When you’re handing over a bank draft for a second-hand car that costs about four times as much as the average new car you have every right to be fussy.

Leather Two-tone leather was a popular option on many cars

Climate control Standard on all Z8s

Engine 400bhp V8 is a well-proven unit lifted from the BMW M5

Electrics Multiplex wiring loom reduces the car's weight but demands more sophisticated electrics so check everything works or the bills get large very quickly

Rust Forget it, the Z8 has an aluminium space frame cloaked in an aluminium body. Only the bumpers and hinges are not

Dashboard Centrally mounted dials take a while to get used to

Push-button starter Creates a sense of occasion

Rear screen It may not be glass but the high-tech material used is incredibly scratch resistant and by folding very small liberates extra boot space

Retro styling Wonderful three-spoke steering wheel and body-coloured dashboard hark back to a previous motoring age

Electronics You'd be unlucky to lose control of the Z8 thanks to its sophisticated driver aids, which include dynamic brake control, dynamic stability control and traction control

Vital statistics

Model BMW Z8
Engine 4941cc V8 DOHC
Power 400bhp
Transmission Six-speed manual
Fuel N/A
Acceleration 0-62mph: 4.7sec
Top Speed 155mph

The one to buy

Trade guides do not quote second-hand values but a 2002 51-reg model with 17,000 miles is for sale via Times Online at £59,995

Or for similar money

1996 N-reg Lamborghini Diablo Roadster

1999 S-reg Ferrari 355 Spider

2001 X-reg Aston Martin DB7 Vantage

2001 51-reg Porsche 911 Turbo coupé

2002 02-reg Mercedes SL 55 AMG