The Alfa Romeo P3 grabbed the “Best of Show” award at the Concorso d’Eleganza Villa d’Este over the weekend. However, it was another car that won the public’s hearts: a 1957 BMW 507 Roadster. One of the early examples of the grand tourer took home the “Coppa d’Oro Villa d’Este” title after receiving the most votes from the gathered audience.
This luxury grand tourer with a detachable hardtop wasn’t the only 507 on display. Over the weekend, we had the opportunity to photograph the only example painted yellow from the factory. These are exceptionally rare cars, with only 251 units produced between 1956 and 1959.
BMW designed the Bavarian GT to compete with the Mercedes 300 SL Gullwing and Roadster, specifically targeting the North American market. However, high production costs forced the company to set a much higher asking price than initially projected, making the 507 prohibitively expensive. The original goal was to produce 5,000 units annually, but only 5% were built over four years.
American automobile importer Max Hoffman convinced BMW to develop the roadster, believing it would succeed in the United States. But the car that was supposed to cost $5,000 nearly doubled in price at launch and exceeded that later in its production run. The 300 SL, by comparison, was far more successful, with 1,400 coupes and another 1,858 roadsters produced.
If you’re wondering how much a 507 is worth today, well, a lot. A 1958 Series II fetched 1,750,000 euros at Broad Arrow’s auction over the weekend at the Concorso d’Eleganza Villa d’Este. The 507 is essentially the most expensive BMW money can buy. Even the company’s priciest new car ever, the 3.0 CSL, seems like a bargain by comparison. The firm’s most powerful inline-six production model was available for a rumored 750,000 euros.
Given its rarity and beauty, we can’t imagine 507 values declining anytime soon. It may have been a commercial flop that nearly bankrupted BMW, but that doesn’t diminish its appeal among collectors.
