Most cars depreciate in value over the years. However, some old vehicles – especially the ones called classic cars and vintages – have more value than expensive modern models. For instance, this ultra-rare 1960 BMW 507 is worth more than a Rimac Nevera. We mean no offense, but for some, a BMW car from around 60 years ago might not tickle any senses. They may not find it appealing or even worth their money.
The Nevera has a price tag of around $2.2 million, taking the market like a storm. Compared to a Nevera, a 1960 BMW 507 is too underpowered, and it employs elements that many would consider obsolete. But more discerning gearheads think otherwise, knowing the real value of a BMW 507 classic car, especially this ultra-rare specimen.
BMW 507 Roadster Is An Icon Born As A Failure
BMW gave birth to the 507 Roadster in the 1950s. The first ones came out of the production line in 1956. High production costs pushed its prices to soar, thereby affecting its overall popularity and nearly bankrupting BMW. While production became limited due to high costs, the 507 Roadster proved popular with celebrities at the time, including Elvis Presley and John Derek.
Interestingly, the 507 Roadster was one of BMW’s failures. But now it sits on the pedestal as one of the most special models in the brand’s history. It is more than just a car that the King of Rock and Roll came to love and drive. It is a design icon that made people recognize it even from afar. The German carmaker only built 252 examples of the 507 Roadster. Examples that managed the test of time are now worth massively, with some of them selling for six digits at auctions.
Built on a shortened 503 frame, the 507 Roadster boasted sporting credentials. It features a body almost made from hand-formed aluminum and is powered by BMW's 3,168-cc OHV V8 engine. It can zoom from 0-62 mph in 11 seconds and go as fast as 122 mph. These numbers may mean the 507 Roadster is slow and less potent compared to a modern sports car. But at the time, these were grin-worthy figures.
A Breathtaking BMW Worth A Few Million Dollars
The fact that BMW built and sold less than 260 examples of the 507 Roadster makes the classic car a rare, hidden gem. Production lasted from 1956 until 1959. The 1960 BMW 507 Roadster distinguishes itself from the earlier examples as the final model year, marking an end to a breathtaking model. Of course, no two examples of the 507 Roadster are the same since BMW made the body from hand-crafted aluminum.
Nevertheless, while the BMW 507 Roadster found itself unappealing to target customers during its production, surviving examples of this classic managed to attract the attention of today’s more discerning gearheads and car collectors. In fact, auction houses and organizers were able to sell BMW 507 Roadster examples – restored or in original condition -- for extremely high prices.
For instance, a 1958 model (#70134) and a white 1959 BMW 507 Roadster (#70244) each had a final sales price of around $1.8 million. An expertly restored midnight blue 1958 BMW 507 (#70157) received a final bid of $1.9 million. A 1958 BMW 507 Roadster (#70156) changed hands in 2014 at Amelia Island for $2.42 million. Thus, it’s no surprise if further examples of the BMW 507 Roadster get sold for millions of dollars.
Reasons Why This BMW 507 Roadster Is Worth $2.5 Million
This elegant red BMW 507 Roadster, however, tops the final auction prices of the previously sold examples. Placed on sale at The Amelia in northeastern Florida, this 507 Roadster is a unique example of the classic Bimmer. It may not be the last 507 Roadster to come out of BMW’s Munich plant, but it is the last one that was officially sold via a BMW dealership to a customer.
Essentially a BMW 507 Sport Series II model, this example – with chassis number 70240 -- is the only one that gained designation as a 1960 model on its manufacturer’s plate. Thus, it is the only 1960 BMW 507 Roadster in existence. It is also one of the very few that features a removable hardtop at the factory. Also featuring a hand-formed aluminum body, this 507 Roadster employs a 3.2-liter V8 engine upgraded to “Surtees” specs. It originally delivered around 150, but the upgrades hiked the output to around 165 hp.
This BMW 507 Roadster features a red exterior over tan interior. Belonged to few owners since new, this 1960 model managed to pass the test of time with occasional repair and maintenance. It has retained its original looks since, as its owners wanted this 507 Roadster to maintain the same appearance when it came out new from the factory decades ago. Its latest owner purchased the car for $2.5 million – a price fit for this kind of legend.
Source: BMW