Hidden for Four Decades - BMW 507 Sells for $2.3 Million at Bonhams Audrain Concours Auction


Lot 133 - 1957 BMW 507 Series II w_Hardtop s_n 70059 Est. upon request - Sold $2,315,000

Lot 133 - 1957 BMW 507 Series II w_Hardtop s_n 70059 Est. upon request - Sold $2,315,000

 

Newport, 4 October, 2022

A rare example of BMW’s glamorous Fifties flagship sportscar, a 1957 BMW 507 Series II Roadster, which had been hidden in a Philadelphia garage for more than four decades, stole the limelight in the Bonhams Audrain Concours Auction on Friday (September 30), selling for $2,315,000 and topping the successful sale, which was 88% sold.

One of only 252 507s produced, making it one of the most collectible and coveted BMWs, this largely original example had been offered from a single-family ownership of 43 years, having been acquired by the vendor’s father in 1979. Unusually for such a glamorous statement car, the 507 was driven straight into a modest garage, where it remained without turning a wheel – only being started up from time to time.

Little wonder that this ‘garage find’ caused a stir in Newport’s International Tennis Hall of Fame where Bonhams hosted the sale as the auction partner of the Audrain Newport Concours & Motor Week. The bidding opened at $1.1 million, climbing to north of $2 million, earning applause from the saleroom.

Eric Minoff, Senior Specialist, Bonhams US Collector Cars, who found and consigned the BMW, said: “This car was a dream discovery. It is truly incredible that such an important sportscar could be hidden from view, in an unsuspecting shed, for more than 40 years. It was the epitome of the Million Dollar Barn Find - truly a hidden treasure – and this 507 offers a superb opportunity for its new owner.”

Another big hitter at the sale was a 1958 Mercedes-Benz 300 SL Roadster, also a match for the 507 in their heyday, which was the second most valuable sale at Audrain, achieving another seven-figure sum of $1,077,500.

Other desirable collector cars which performed well at the second edition of the Audrain Concours Auction included a brace of powerful, low-mileage Aston Martin V8s. A 1986 V8 Sports Saloon far surpassed its pre-sale estimate, making $280,000, while its sibling, a 1989 V8 Vantage Volante, offered from single-family ownership from new, sold for $207,200, topping its estimate.

The auction presented a boutique selection of 45 collector cars spanning more than a century of automotive excellence. One of the earliest offerings was a fine example from the very first sportscar brand in the USA: Mercer. The 1920 Mercer Model 22-70 Series 5 ‘Raceabout’ Conversion, which was formerly in the important collections of Bill Harrah and Al Ferrara, realised $268,600.

 

Further notable results in Audrain included:

1994 Lamborghini Diablo VT, sold for $252,000. A well-preserved, low mileage, example of the 200mph supercar which comfortably achieved its pre-sale estimate.

1977 Porsche 930 3.0 Turbo Carrera, made $162,400, exceeding its top estimate. A matching numbers, restored example of the desirable first generation 3.0 Turbo Carrera.

Rupert Banner, Bonhams Collector Cars Global Head of Specialists, added: We were delighted by the enthusiastic reception to this sale and strong bidding in the saleroom, with many ‘Newport sized’ bids and battles.

“The prestigious Audrain Newport Concours & Motor Week has firmly established itself as a must-attend date on the international collector car calendar, thanks to Donald Osborne and his professional team. Our commitment will extend with auctions through to 2025, while supporting their other events including the Veteran Car Tour in the Spring and the upcoming Nashville Tour in November." 

The Bonhams Collector Cars team will now cross the Atlantic for the Zoute Sale on Sunday October 9 at another world-class gathering, the Zoute Grand Prix, in the Belgian resort of Knokke-Heist. The sale is headlined by a rare 1985 Ferrari 288 GTO, delivered new to Walter Wolf, the former Formula 1 team owner.


Lot List

 

Lot

Description

S/N

Estimates

Result
incl. Buyer’s
Premium

101

1974 Porsche 911 2.7 Coupe

9114101466

$50,000 - 75,000
(NR)

$73,920

102

1976 TVR 2500M Coupe

3642TM

$25,000 - 35,000
(NR)

$20,160

103

1973 Lotus Europa Special S2

3366R

$25,000 - 35,000

$28,000

104

1981 Toyota Land Cruiser FJ40

FJ40L-VKA-UND-
40017

$40,000 - 50,000
(NR)

$32,480

105

1956 Austin-Healey 100M BN2 Le Mans

BN2L 233047

$160,000 - 190,000

Not Sold

106

1986 Aston Martin V8 Vantage Saloon

SCFCV81S7GTL
12520

$120,000 - 180,000
(NR)

$280,000

107

1968 MG C Roadster

GCN1U/3076G

$30,000 - 40,000
(NR)

$28,000

108

1968 Mercedes-Benz 280SL

113.044.10.
003720

$25,000 - 35,000
(NR)

$67,200

109

1954 Jaguar XK120 SE Roadster

S674747

$130,000 - 160,000

$123,200

110

1963 Facel Vega Facel II

H2KA186

$140,000 - 180,000
(NR)

$117,600

111

1964 Mercedes-Benz 230 SL

113.042.12.
006037

$110,000 - 140,000

$112,000

112

1956 Cadillac Eldorado Biarritz Convertible

5662073179

$110,000 - 130,000

Not Sold

113

1935 Lagonda Rapier Sports Special

D11419

$150,000 - 200,000

$140,000

114

1920 Mercer Model 22-70 Series 5 "Raceabout" Conversion

5092

$200,000 - 325,000
(NR)

$268,800

115

1989 Aston Martin V8 Vantage Volante

SCFCV81V0KTL
15715

$150,000 - 200,000

$207,200

116

1977 Porsche 930 3.0 Turbo Carrera

9307700192

$90,000 - 120,000
(NR)

$162,400

117

1963 1963 Jaguar E-Type Semi-Lightweight Competition Roadster Recreation

861113

$125,000 - 150,000

Not Sold

118

1957 Jaguar XK150 3.4 Drophead Coupe

S837126DN

$50,000 - 60,000
(NR)

$50,400

119

1958 Mercedes-Benz 300 SL Roadster

198.042.85.
00081

$1,100,000 - 1,300,000

$1,077,500

120

1926 Rolls-Royce 40/50hp Silver Ghost

S335RL

$450,000 - 550,000

Not Sold

121

2022 Mercedes-Benz SL55 AMG

W1KVK8ABXNF
001830

$190,000 - 230,000

$190,400

122

1953 Jaguar XK120 Fixed Head Coupe

680893

$100,000 - 130,000

Not Sold

123

1929 Packard Model 645 Deluxe Eight

177446

$175,000 - 225,000
(NR)

$117,600

124

1966 Sunbeam Tiger Series I

B382001098
LRXFE

$85,000 - 105,000

$84,000

125

1995 Porsche 911 Type 993 Supercup

WP0ZZZ99ZS
S398082

$350,000 - 400,000

Not Sold

126

1964 Jaguar E-Type Series I 3.8 Coupe

889928

$160,000 - 190,000

$142,800

127

1969 Mercedes-Benz 300 SEL 6.3

109.018.12.
002404

$60,000 - 80,000
(NR)

$56,000

128

1974 Alfa Romeo 2000 GT Veloce

AR3024419

$55,000 - 75,000
(NR)

$72,800

129

1966 Ford Mustang Fastback Resto-Mod

6R09A107619

$50,000 - 80,000
(NR)

$62,720

130

1940 Buick Super Model 59 Estate Wagon

137554990

$80,000 - 110,000

$86,800

131

1966 Maserati Mistral 4000 Coupé

AM190A1 1260

$100,000 - 130,000

$114,800

132

1963 Daimler SP250 Roadster

100929

$40,000 - 50,000
(NR)

$31,360

133

1957 BMW 507 Series II w/Hardtop

70059

 

$2,315,000

134

1939 Cadillac Series 75 Convertible

3290731

$100,000 - 130,000
(NR)

Not Sold

135

1948 Rolls-Royce Silver Wraith Drophead

WFC4

$220,000 - 260,000

Not Sold

136

1994 Lamborghini Diablo VT

ZA9DU07PXRLA
12203

$225,000 - 275,000

$252,000

137

1912 S.G.V. Two Plus Two Roadster

460

$75,000 - 125,000

Not Sold

138

1980 Mercedes 280 GE TO 300D Specs

460.233.17.
007105

$60,000 - 80,000
(NR)

$38,080

139

1969 Rolls-Royce Phantom VI Limousine

PRX4565

$80,000 - 120,000
(NR)

$97,440

140

1912 Stanley Special 30HP Tribute

6700

$125,000 - 175,000

$109,200

141

1972 Mercedes-Benz 600 SWB

100.012.12.
002034

$175,000 - 225,000
 (NR)

$154,000

142

c. 1903 Knox Model C Runabout

202

$40,000 - 60,000 (NR)

$45,920

143

1967 Rolls-Royce Silver Shadow Coupe

CRX2727

$50,000 - 65,000

$39,200

144

1939 LaSalle Series 39-50 Convertible

2305268

$50,000 - 80,000

Not Sold

145

1932 Stutz DV32 Custom Roadster

DV33138

$150,000 - 200,000

$106,400



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