This rare 1950s BMW cost $9,000 new and will auction for an estimated $2.3 million - tour the 507 Roadster
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.
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 or Ford Thunderbird. With such a lofty asking price, only few could afford BMW's beautiful roadster. The automaker stopped the 507's production in 1959 after selling only 253 cars.
Read on to learn more about this 507 Roadster.
The BMW 507 Roadster is one of the rarest and most valuable BMWs ever made. This one is headed for auction later this month.
There's a 3.2-liter V8 that produces a claimed 150 horsepower and a four-speed manual transmission.
This 507 also has an original Becker Mexico radio installed.
The 507 was created to compete with the Mercedes-Benz 300SL.
Originally, it had a target price of $5,000, which is about $49,000 in today's money. The final sticker price wound up being $9,000, however.
That's about $87,000 in today's money.
It was twice as expensive as a Chevrolet Corvette or Ford Thunderbird.
Among those who could afford and bought them were Elvis Presley, Alain Delon, Ursula Andress, and Prince Rainer of Monaco.
As such, BMW stopped production in December 1959 after starting in just 1956. Only 253 507s were sold.
This example will hit the auction block at Bonhams' Scottsdale Auction on January 21. It's estimated to fetch between $1.9 million and $2.3 million.
Read the original article on Business Insider
