No Service History; good or bad idea?

Hi guys,
I'm in the hunt for a 1997 840ci at present and all going well, will get one in the coming weeks. Anyway, had my eye on one in Kent but unfortunately it sold. I've spotted this one however (http://www.carplanetltd.co.uk/ - go to the european cars section on the left and it's there!).
I mailed the guy about it and he said "Hi Alan,

The BMW 840ci is in pristine condition, however the last owner has loss all the service history of the car, if not the car has long been gone. If you still interested in the car without the service history, then I will decide the price you are asking for."

I mailed to see if there was a service history and other pics of the interior. However, I said that other similar '97 840ci's were around 7.5k (correct me if I'm wrong). Anyway, inspections etc would be carried out if I decided to view it but is no service history a bad move?
Thanks as always guys, Alan

P.S. Would it be easy enough to get my hands on an 840ci badge for the boot and remove the M badge?

!!! Thanks guys. The advice is much appreciated. I have only bought one car in my life (my current Peugeot 406 coupe) and because, like the 8 series, is a car I always wanted (and could only afford at the time!), I kinda rushed into it a little without giving 100% thought to it (my current car is perfect however a few initial problems caused me hassle!). I don't want to get an 8 series that'll cause me problems!!!

I'm assuming he'll laugh me out the door but it's hardly worth saying that, without history, I won't give him more than 4k????!!!! I guess the worst he can say is no

Anyway, maybe it's something I'll steer clear of. I'll see if he can get a history on it but if not, might look elsewhere? Thanks again guys and sorry for all the (daft!) questions. But all and any advise is golddust in my pursuit! Cheers, Alan