One of the most expensive and rarest BMWs ever produced is the 507 Roadster. Due to a starting price of $9,000 in the late 1950s being too expensive for the majority of consumers, just 253 vehicles were sold.
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This 1957 BMW 507 is currently priced at $1.6 million and will eventually surpass all other cars on Bring a Trailer.
The BMW 507, created by Albrecht von Goertz, is among the rarest automobiles and is regarded by many as the most beautiful vehicle ever built. Only 202 of these cars are believed to still be in existence. A 1957 example that served as the model for the current BMW Z8 has been put up for sale on Bring a Trailer, and the asking price is already absurd. An auction held during the 2018 Goodwood Festival of Speed saw a 507 sample sell for $5,000,000. This example is presently sitting at $1.6 million with six days left to bid, and that amount is anticipated to increase.
The automobile, which began production in 1955 at the request of American BMW importer Max Hoffman, was initially designed to bridge the gap between more affordable Mercedes-Benz roadsters like the 300 SL and lower-end British sports cars. The 507 was a popular choice for both celebrities like Elvis Presley and race car drivers like John Surtees thanks to its 150 horsepower, 3.2-liter pushrod V8 engine. It was also advanced for its day, including a solid axle in the back and a double-wishbone suspension up front.
Every 507’s hand-formed aluminum bodywork made it unique, and some even came with detachable hardtops, like this one. The car has been painted and updated over the years, obtaining a new engine early in its existence that is stamped with the serial number of the original engine, and was brought to the United States in 2000. This example is simply one of only 15 units that are allegedly supplied in black.
The fuel tank on this 507 is 17.4 gallons because it is a “Series II” vehicle as opposed to the older “Series I” vehicles, which featured a gigantic 29.1 gallons beneath the seats. The larger tank was apparently replaced because it caused the car to smell like gas when the hardtop was up. According to reports, that’s the sole distinction between Series I and II cars; everything else on this car, such the body-color wheels, could be ordered on any 507 The fake center caps for the two-spoke wheel were changed in 2018, yet it appears that BMW still manufactures them. They definitely cost a lot, but maybe not.
The ZF four-speed manual transmission was the sole available transmission for the 507, and the one in this vehicle is an original. However, it appears that the car’s interior did not fare as well as its mechanical components. Since the car was imported in 2000, much of it has been replaced, including all of the upholstery. Additionally “rebuilt,” many of the knobs on the Nardi steering wheel were changed in 2014.
The car’s actual mileage is unclear with only 8,500 miles on the odometer, but given that this 507 is already selling for six figures, it doesn’t seem like a big deal. In fact, it has already exceeded the 1956 Mercedes 300 SL was sold for $1,234,567 in 2019 as the priciest vehicle ever sold on Bring a Trailer.
The Cost of Excellence
34 of the 252 BMW 507s produced between 1956 and 1960 were Series I models, while the remaining 218 were Series II versions. Late in 1956, after the 507’s formal debut in New York, full-scale production got under way. Hoffman predicted that BMW would make 5,500 units per year and sell them for around $5,000 each with just the first shipment of 507s to America.
Hoffman’s prediction, however, fell apart as the price approached $10,500 due to the premium materials utilized and the individualized care given to each 507, making the BMW 507 costly and unaffordable for the majority of users.
BMW 507 production begins, and financial difficulties start to appear
As soon as manufacturing began in 1956, BMW realized that selling a 507 with a full aluminum body for $5,000 as Max Hoffman had predicted would not be feasible.
The Series I BMW 507 originally cost $9000, which, when converted to today’s money and adjusted for inflation, would have been between $80,00 and $90,000. It simply wasn’t being marketed at this price as a less expensive replacement for the pricey Mercedes 300SL. BMW wished to sell the 507 for around $5,000, but the production expenses were simply too expensive.
In the summer of 1957, the most sought-after 507 Series II model was unveiled. A new design, primarily focusing on the interior, was seen in the second series. The dashboard was extended back further, giving the chairs additional options for back and forth movement and adding a rear parcel shelf. Additionally, there was a $11,000 price increase for the series II.
The 507 Series II’s price hike was eventually the primary cause of the roadster’s production halt. BMW was unable to continue producing the 507 because the specialist sports car market was restricted to only rich customers. Only 252 BMW 507s were ever produced after production stopped in December 1959, a long cry from the anticipated 5000 units annually. The BMW 507 is therefore a genuine rarity.
An Extensive Review Of The BMW 507
The BMW 507 has all the characteristics of a vehicle that was well ahead of its time.
The BMW 507 may go down in history as the vehicle that nearly brought down German automakers, including BMW. But thanks to the Isetta (the vehicle that saved BMW), they were able to avoid a financial catastrophe.
Only about 252 of the BMW 507’s manufactured in the middle of the 1950s were sold between 1956 and 1960. For a vehicle that US importer Max Hoffman persuaded BMW to design for its American customers, this sales total was extremely depressing.
The great Albrecht von Goertz, who collaborated with Mercedes on the 300 SL Gullwing, the automobile of the century, also created the BMW 507. It was designed as a less expensive alternative to vehicles like the Gullwing and Porsche’s 356 speedsters.
Here’s a look at the BMW 507 from the mid- to late-1950s and what it had to offer drivers.
This is the current price of a BMW 507
Following a recommendation from a vehicle importer, BMW started producing the 507 in 1956. The concept and design were sound, but the high-end materials’ planned budget was so out of reach that the manufacturing run had to be halved. Because of their scarcity and rarity, these cars are incredibly expensive. When production ceased, just 253 units had been built, and only the wealthiest people could purchase them. Even in fair condition, they can now be resold for millions of dollars, and at some auctions, they can even sell for more. Following the failure of the 507, BMW has since produced automobiles that are far more affordable and productive.
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Count Albrecht von Goertz originally created the BMW 507, which was essentially the sportier, two-seater version of the 1956–1959 BMW 503 grand tourer. Among the owners were John Surtees, King Constantine II, Albrecht von Goetz, and Elvis Presley, who owned a model with the chassis number 70079 with a Feather white finish (along with a second example). Only 252 copies were ever produced since the car was pricey. The BMW 507 cost more than $9,000 in 1956 ($96,715 in 2022 dollars), outpacing the Mercedes 300SL Gullwing in price. Ironically, the BMW 507 nearly brought BMW to ruin, but today, each of the 252 specimens can sell for between $1.8 and $2.2 million. Elvis Presley’s automobile is thought to be worth $9 million.
Venezuela’s Caracas is where this specific specimen with the chassis number 70059 was first purchased. The current seller’s father bought the car in 1979 after it ended up in Montreal, Canada. It was promptly stored in Philadelphia by the father of the current seller, where it remained for 43 years. One of the Series II versions, 218 of which were produced starting in 1957, is this one. The fuel tank was smaller in the Series II automobiles, allowing for additional cargo room. There were just 34 Series I automobiles produced (1956 model year only).
The exterior of the BMW 507 was repainted in Pontiac Bright Blue Metallic in the 1970s. The entire interior is original and appears to have been inhabited. The automobile has optional hardtop and replica Rudge wheels. It’s important to note that the engine’s condition is not mentioned.
Eric Minoff, Senior Specialist at Bonhams US Motor Cars, said “The serious collector has an incredible opportunity with this garage find gem, which has been hidden for more than 40 years and is being sold with no reserve. The recently discovered gem can either be lovingly renovated or completely restored by the new owner.” Regardless, it is anticipated that the extremely rare Bavarian classic will bring in a sizable price when it is offered at the Bonhams Audrain Concours sale in September 2022.
I was born in 1992, and my family is very into cars. When I was six years old, a Lamborghini Diablo SV that I had seen in a magazine sparked my interest in automobiles. I graduated from high school with a Master of Arts in Media and Communications and a Master of Science in Marketing. I’ve developed my precision driving skills over the years and have tested more than 250 vehicles all across the world. I’ve learned some fundamental mechanics throughout the years, and I even assisted with the restoration of an Alfa Romeo Giulia Sprint and a 1964 Jaguar E-Type. My main passion is modern vehicles, but I also enjoy Asian Martial Arts, swimming, war history, craft beer, vintage weapons, and car repair. Recently, I’ve developed a taste for automotive photography. I eventually want to restore my own classic car and get my racing license, following which I intend to start my own racing team.
The BMW 507 debuted when?
In a nutshell, the history of the BMW 507 is as follows: It is often regarded as the most beautiful vehicle produced by the German manufacturer, and it nearly brought about the demise of Bavarian Motor Works.
The BMW 507 roadster had its American debut at the Waldorf-Astoria Hotel in New York City in the summer of 1955, when it was expected to be the more affordable option when compared to the well renowned Mercedes-Benz 300SL. The BMW 507 was hailed as the most beautiful automobile in the world even before it arrived in the United States. When it was originally unveiled in Europe, it quickly gained notoriety as Munich’s dream car.
The background of the BMW 507: BMW commissioned Albrecht von Goertz, an industrial designer, to create a sports car specifically for American consumers on the advice of Max Hoffman, a luxury European car importer and dealer located in New York. Hoffman, who was also influential in the design of the 300SL Gullwing, had an idea for a sports car that would sit in the midst of the pricey Mercedes-Benz and expensive MG Gullwings. So von Goertz built a roadster that would seduce hearts and pierce souls of anybody who saw it.