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Just checked Manheim auto action results for OP. In the last week 14 2012 X535i Premium's crossed the block nationally. Additional optional equipment is not listed. Here are the results average: Above average condition, $44146.00 with average miles of 17934. Average condition, $37558.00 with average miles of 35867. Below average condition, $30970.00 with average miles of 53801.
Some hammer prices of note from last week: $40500.00 with 14860 miles. $40000.00 with 13640 miles. $39400.00 with 29485 miles. So I would say the X5 your looking is in the wholesale price range which is where you want to try to buy at.
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