Rare BMW 507 could sell for $2.3 million at Bonhams auction – Business Insider – Business Insider

  • The BMW 507 Roadster is one of the rarest and most valuable BMWs ever made.
  • Only 253 examples were sold because a starting price of $9,000 in the late 1950s proved too expensive for most buyers.
  • This example will be auctioned off soon and is expected to sell for between $1.9 million and $2.3 million.
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If you’ve never heard of the BMW 507 Roadster, don’t worry. With a mere 253 sold, most people probably haven’t ever heard of the car, much less seen one. But if you are interested in owning one of the rarest and most valuable BMWs ever made, all you need is a spare seven figures.

This 1959 BMW 507 Roadster will be at Bonhams’ Scottsdale Auction on January 21, and it’s expected to fetch between $1.9 million and $2.3 million. You can view the listing here.

The 1950s were a golden era of gorgeous sports cars, giving rise to the Mercedes-Benz 300SL and the Jaguar XK120. In 1954, Max Hoffman — an Austrian-born and US-based car importer — convinced BMW to create a competitor to the 300SL. He projected a $5,000 target price for the car, or about $49,000 in today’s money.

Unfortunately, things don’t always go according to plan.

By the time everything was said and done, the 507’s sticker price was a whopping $9,000 — or $87,000 in today’s money. It was, according to the Bonhams listing, more than twice the price of a Chevrolet Corvette