When it comes to classic BMW cars, one instinctively turns to one model: the 507. The extraordinarily styled coupe was offered by the German carmaker between 1956 and 1960 but only 252 copies of it were ever built. Obviously, the stars aligned to make it a highly sought-after collector's model today
And thus, very expensive!
While it's rare to see old BMW classics sell for more than $1 million at auction, it won't be surprising to see this gorgeous 507 push bidding beyond that amount.
Incredibly, the long-lost car has been resting peacefully for four decades in the Philadelphia region in, yes, a barn!
Celebrities running the gamut from Elvis Presley to former Formula 1 supremo Bernie Ecclestone, owned one of these 507s at one time or other. Two series were offered. Of the first series, there were only 34 made; the model found belongs to the second, production of which began in 1957.
Unusually for such a find, the history of the unearthed version is known. It was bought new in Caracas, Venezuela, before the current owner's father acquired it in the late 1970s. Rather than being driven or shown, it spent 43 years in a Philadelphia warehouse, until now. In September it will be auctioned off.
To add spice to the story, it’s actually one of several BMW 507s owned by the same family.
The Bonhams Group, which will be auctioning it off, explains that the car was actually driven a fair amount, which is clear from its condition. The upholstery, for example, is original and shows wear. The exterior was repainted in the 1970s with a Pontiac tint. Under the hood is a 193.3 cubic inch V8, a block that once developed some 150 hp. The manual transmission is four-speed and bears the signature of the ZF manufacturer.
This sports car took 11 seconds to reach 100 km/h at the time. 11 seconds of pure happiness, we guess.
Bonhams estimates the car’s value at between 1.8 and 2.2 million USD. It will be offered at the Audrain Concours in Rhode Island in September.