Seems a little high. I think the price should be somewhere between 55K and 57K for a 2011. If you are considering purchasing an M3 I would visit the classified section of this forum. There are a lot of members selling 2011s. Some are in the low 50s. Other members have posted 2012s in the 60K-62K range. Unless this car is certified I would keep looking.
Best of luck.