The 1M was something stupid like R550 000.00 or R600 000.00 from the Dealership. Guys that were lucky enough to get one then re-advertised them at R700 000.00 to R750 000.00.
One needs to remember that the M3/M4 is pushing R1 100 000.00. They cant make the M2 the same price so it would be somewhere around R850 000.00 or so.