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. It is anticipated that this sample would get between $1.9 million and $2.3 million when it is auctioned off soon.
In This Article...
Why does the BMW 507 cost so much?
Even though the chassis and engine were constructed upon already-existing platforms, the hand-made bodywork skyrocketed the cost of production. As a result, when the 507 finally launched, it had a price tag higher than $9,000 ($96,715), making it more expensive than the 300SL “Gullwing.”
What does a 507 cost?
The BMW 507 had a starting price of $9,000 in 1957 dollars, which is equivalent to $87,000 in 2021 dollars. When Max Hoffman suggested that BMW should create its own rival to the Mercedes-Benz 300SL, BMW agreed. Max Hoffman was an Austrian-born vehicle importer with a US base who fought for the development of the BMW 507. Hoffman believed that the initial cost of the BMW 507 was $5,000 in 1957, or $49,000 now. Given the high-quality materials used in production, the price nearly doubled after it was produced.
Additionally, this caused the price of the BMW 507 to be double that of the Ford Thunderbird or Chevrolet Corvette at the time. As a result, only a select few wealthy people could afford to purchase a BMW 507, which led to its standing as a prestige symbol. Elvis Presley, Alain Delon, Ursula Andress, and Prince Rainer of Monaco were a few of the exclusive owners. In 1959, just two years after it began, BMW stopped producing automobiles after only 253 had been made.
How many BMW 507 are still around?
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.
What kind of engine was in the BMW 507?
Hoffman recognized that Americans who enjoy driving sports cars are passionate about strong engines. A four-speed ZF transmission and 3.2-liter V-8 engine with 150 horsepower were installed in the 507 vehicle. The 507’s performance tuning for the overhead-valve V-8 engine, which was BMW’s first V-8 engine, comprised polished combustion-chamber surfaces, a compression ratio of 7.8:1, high-lift camshafts, and an improved ignition-advance curve.
The bulk of 507s had soft convertible tops, but 11 of them came with an optional detachable hardtop for the fortunate few. The 507’s suspension had a front anti-roll bar, double wishbones, front and back torsion bars, and Alfin drum brakes. It was put together by the greatest BMW mechanics in Bavaria (later replaced by Girling brakes).
Elvis had a BMW 507, right?
Elvis Presley served in Germany for two years after enlisting in the Army in 1958. He bought one of the few BMW 507s ever made there to use as a daily automobile while he was there. Originally painted white, the car allegedly received frequent kisses from swooning admirers, leaving lipstick stains all over it. Presley had the car painted red out of annoyance.
The automobile was discovered in a California barn over 50 years later, in 2006, by Klaus Kutscher, a Restoration Expert at BMW Classic. Even before he discovered it had belonged to Elvis, he thought it was worth restoring because there were only approximately 250 BMW 507s produced in total.
“They had other equipment in the car, and the dashboard was cut. The frame was cut. The vehicle was painted twice: once in red and once in black. Then the car was involved in a serious accident, “Kutscher says this in the most recent Petrolicious video.
But Kutscher was able to bring Elvis’ vintage 507 back to its former splendor thanks to the resources of BMW Classic. This year’s Pebble Beach appearance was partially covered by us in advance, but watch the video below for even more information straight from Kutscher.
This material was downloaded from YouTube. At their website, you might be able to discover the same material in a different format or more details.
A BMW M1 costs how much?
It was a 1981 BMW M1 model, and in 2020 it sold for retail on Gooding Scottsdale. The cost of the BMW M1 increases with time. And based on historical price fluctuations and traditional tendencies, the BMW M1’s price could reach its upper limit of $800,000 within the next five years, if not sooner. But in the end, the price increase for the BMW M1 is unavoidable.
Keep in mind that the BMW M1 is one of the most sought-after classic automobiles to date if you’re trying to figure out why it costs so much. You see, the German company only produced a few M1 vehicles. History indicates that BMW only produced 453 vehicles bearing the BMW E26 M1 logo. And only 53 of those 453 models found a home in the motorsport industry.
Only about seven BMW E26 M1s have actually been sold in retail during the past five years since they are so uncommon. According to the historic automobile valuation tool, only 3 of the sold cars are from the 1981 model year, while 4 are from the 1980 model year. Over the past two years, there have been no sales of models from before 1980. This is loud and clear and makes a powerful statement. You must consider the fact that it will be difficult to find a vintage BMW M1 if you’re searching for one. Use auctions to your advantage to purchase the BMW M1 for a fair price.
What is the value of a 1957 507 Roadster?
A rare BMW 507 that was stored in a garage for almost 50 years is receiving a fresh lease of life.
On September 30, the 1957 Series II Roadster in question will be sold at the Bonhams Audrain Concours auction. It is predicted to bring in between $1.8 million and $2.2 million, making it the holy grail.
The 507 is regarded by many as the most valuable and desired BMW to date. Only 252 copies of the flagship sports automobile were produced by the German manufacturer in the late 1950s. The glitterati of the time were drawn to the gorgeous convertible because of its exclusivity (and high price). King Constantine II and Elvis Presley are two notable owners.
What was Elvis 507 sold for?
Soon after, Tommy Charles, a radio DJ and hot-rod enthusiast, purchased the BMW 507 for $3,500 USD from a Chrysler dealer in New York who had advertised the roadster as the “Elvis Car.”
What model BMW convertible debuted first?
The BMW Z1 is the first model in BMW’s Z series of roadster (two-seater convertible) vehicles, and it was made in small quantities between 1989 and 1991.
Plastic body panels and doors that slide vertically into the door sills give the Z1 a distinctive look. One of the first BMWs to utilize a multi-link rear suspension is this one. The 2.5-liter straight-six engine and 5-speed manual transmission from the E30 325i are the only drivetrain options.
What Ferrari is the most expensive?
- Jo Schlesser raced a red 1963 Ferrari 250 GTO in 1960, which was auctioned for $52 million in 2013.
- With a sale price of $70.2 million, another Ferrari 250 GTO in silver blue was the most expensive automobile ever.
Elvis had a BMW, right?
Elvis’ first car in Germany was an old Volkswagen, which he later gave to Jurgen Seydel, his German karate coach. Elvis rented a BMW 507 from BMW Glockler on December 21, 1958. Elvis was aware that the vehicle had previously been utilized by racing legend Hans Stuck. Mr. Glockler told Elvis that “Mr. Stuck ran the automobile in extremely properly.” Stuck had raced the vehicle in a number of sports car competitions, but Elvis had the engine upgraded for daily use. (Therefore, the car was pretty unique.)
The cost, which was $3,750 USD instead of $7,160 for a brand-new one, seemed really fair. Elvis mistakenly believed he was purchasing the car since he couldn’t read the German-language paperwork.
However, he soon discovered that it was only on lease and would need to be returned when he departed Germany. Elvis had to pay for BMW to use the advertising value of him driving their vehicle.
Elvis originally want a Porsche Spider, perhaps because he was a fan of James Dean and saw Dean driving one (And died in).
Elvis was intrigued by the BMW 507 but was unable to acquire it right away. He most likely chose the “used” automobile because it was available right away.
On December 21, 1958, Elvis received the car’s keys in a “ceremony” in front of Uschi Siebert, a former Miss Hessen who later became a well-known television personality. Twelve photographers and journalists captured the action on camera. It’s unclear when he actually got the car, but it must have happened soon after a service and registration change. Elvis’ car had the license plate A-1499, which said “1958 US Forces In Germany.” Before Elvis assumed ownership, the car had the license plate “F-04071.”
Elvis traded in his white sports vehicle at BMW Glockler in August 1959 for an ared 507, which he drove until October 1959. Elvis noticed a strange-looking small BMW Isetta that day. King-sized Lamar Fike was asked by Elvis to get in the car, but he declined, much to Mr. Glockler’s relief. Elvis reportedly bought one of these cars that day as well, but in reality, he was just posing for photos.
The white BMW 507 gave Elvis a lot of grief since some female fans used lipstick and pens to write greetings, phone numbers, and “I love you”s on it. Complete removal is not possible.
Rumor has it that Elvis gave Ursula Andress his 507 while they were filming Fun in Acapulco. That is untrue. Both of the cars were leased from BMW Glockler and were never owned by Elvis.
To view our next page about Elvis Presley in the U.S. Army, click the U.S. Army logo.