With the Red-Whites trailing by a lone goal scored by Kingsley Coman in the first half, the Ghana international was thrown into action for Milan Pavkov but further goals from Robert Lewandowski and Thomas Muller put them to the sword at Allianz Arena.
Going into this tie, Boakye who registered three goals in the qualifying phase had expressed optimism about his side’s chances against Europe’s big boys, while hoping to score against Die Bayern.
“We are ready to play in the Champions League this season,” he told Ghanasoccernet.
“I know our group is very difficult as we will come up against teams such as Bayern Munich, Tottenham and Olympiacos but we are confident we can beat them as well."
Red Star have now conceded 16 goals in their first four away games in the Champions League, more than any other team in their first four matches in the competition.
Sitting at the base of Group B, Boakye will be aiming to help his team bounce back when they host Olympiacos on October 1.
Before then, they face Partizan Belgrade and FK Macva Sabac in the Serbian SuperLiga.