Estoril Blue II

Estoril Blue was originally introduced on the M3 of two generations prior, the E36 M3, so it was quite 'common' back then being a standard range paint option. Also on the E46 M3 despite now being an Individual option it was still relatively popular.

On the E9X M3 however it's a lot more rare, so rare in fact that this is the only Estoril Blue II E9X M3 full stop, that's across all body styles Coupes, Sedans and Convertibles.

It's located in the US and it perhaps won't surprise you that it was sold through EAG since they are the go-to for all things BMW.
The pictures taken under their studio lights highlight the light blue tone of Estoril and how it's metallic flake accentuates the body lines of the car. They also made a detailed video on this car that you can watch here.