M5 Guru (>2000 posts)
Join Date: Nov 2010
Location: Sanborn, NY
Thanked 289 Times in 249 Posts
And I'll confirm: That is factory undercoating. I had to repair a lower section as part of a jackpad metal replacement. I've ground through it with the angle grinder. It can be thick in spots. Be thankful that is there and not rust!
Looks like Silverstone. Good luck with the purchase!
2013 M5 Imperial Blue/Silverstone II, 6MT 64k miles
2000 Anthracite daily driver
UUC dssr and shifter
Supersprint headers with Tubi catback
Dinan 3.45 JED lightened flywheel
286,000 miles and counting
'00 Imola/Imola 107k stock
'00 Silverstone/Silverstone 129k (SOLD)