Actually demand for the last of the naturally aspired M cars is pretty strong. Low mileage cars with all the bells and whistles will demand a premium price.
That said, $60k seems a tad high. You can be sure that the original buyer didn't pay sticker. So, I'd start offer at $54k and meet in the middle - say $57.5 max.
Unless this car is super clean (like new) be prepared to walk away. There are still plenty of used M3's out there and time and patience will get you the one you want.
You didn't say if this is dealer (CPO?) or private sale. This can impact pricing.