Back in the mid-to-late 1950s, when tailfins were all the rage in America, another popular format was proving to be immensely successful for automakers. The open-top V8 roadster. From the Thunderbird to the C1 Corvette, this was a formula that delivered thrill and prestige in equal measure. Even European automakers were riding this wave and cashing in with models like the Porsche 356 and Mercedes’ 300 SL roadster. BMW, eager to get a foothold in the booming U.S. market, set out to create its own contender. It was none other than Max Hoffman, the prominent importer from New York, who planted the seed, urging BMW to create a competitive model that could take on the competition. The result was the 507, Bavaria’s answer to the roadster wars.
BMW 507: A V8 Roadster With a Mission
BMW roped in Count Albrecht von Goertz to design the 507, and what he delivered was a shape that has certainly aged gracefully and has stood the test of time. Making its debut in 1955, the 507 featured a long hood and a short deck lid. Wrapped in hand-formed aluminium, the overall shape and curvaceous form rivaled Italy’s finest at the time, but with a dash of German restraint. Under the skin was a shortened version of BMW’s 503 chassis, and riding on a 98-inch wheelbase, it made for a fairly compact sports car.
Powering the 507 was BMW’s first-ever production V8: a 3.2-liter overhead valve (OHV) unit that also featured in the 503, but tuned for more punch. With a hotter cam, polished combustion chambers, dual carburetors, and a revised ignition system, output climbed to 150 horsepower. All 507s were paired with a 4-speed manual transmission. 60 mph was done away with in 12 seconds, and the top speed was 125 mph. Onboard, things were simple: a tight cabin with clean lines, leather seats, and clear gauges.
BMW 507 Specs
| Engine Displacement | 3.2L (3168 cc) |
| Engine Configuration | Naturally aspirated OHV V8 |
| Horsepower | 150 hp |
| Torque | 164 lb-ft |
| Transmission | 4-speed manual |
| Curb Weight | ~2,900 lbs |
| 0–60 mph | ~12.0 seconds |
| Top Speed | ~125 mph |
The suspension was straightforward: double wishbones with sway bar upfront and a live rear axle and torsion bar setup in back. While drum brakes were offered as standard on early cars, later models were upgraded with front discs. At just a shy under 3,000 pounds, this was not a light car even for its day, but the balanced chassis and the good looks more than made up for it.
Max Hoffman had hoped for a $5,000 price point, but low demand and ballooning production costs owing to that labor-intensive bodywork eventually pushed the final retail price to well north of $10,000. This made the 507 just as expensive as the 300 SL and a hard sell. Even celebrity owners like Elvis Presley and Prince Ranier of Monaco couldn’t save the 507.
BMW reportedly lost money on every car it made, and where Hoffman originally envisioned thousands would be sold, that sadly never happened. The 507’s failure was one of several financial challenges that almost pushed BMW to the brink. The success of the quirky Isetta microcar and some strategic financial interventions kept the lights on at the factory.
BMW 507: Price & Collectibility
Although the 507 nearly put BMW out of business back in the day, it helped redefine the company’s future. Its clean lines, elegant front-engine rear-drive proportions, and grand touring spirit would be embraced by roadster models decades later.
The compact and playful 1996 BMW Z3’s long hood and short decklid drew inspiration from the 507. The BMW Z8, designed by Henrik Fisker and powered by an M5-derived V8, took things a step further with a cleaner aesthetic and aluminium space frame. The BMW Z4, which followed in 2002 and is still in production, has spanned three generations and follows the same tried and tested formula of an open-top two-seater sports car. The wide kidney grille on the latest Z4 harkens back to the 507.
The 507 has left an indelible mark in automotive history, and after being ignored for decades, the 507 has now ascended to collector car royalty. Given that only 252 examples were produced (11 with removable hardtops), with even fewer in original condition, BMW 507s command anywhere between $2-$5 million. While most 507s live in museums or collections, a handful are regularly used during vintage rallies. duPont REGISTRY currently has not one, but two BMW 507s listed for sale, presenting an excellent opportunity to acquire one of the world’s most beautiful roadsters.
Matching number cars, rudge wheels, factory hard tops, and unrestored cabins add significant value. Cars restored by the likes of specialists like Kienle or Brummer command a premium. Early cars with smaller trunks and simpler dashboards are often categorized as Series I models, while updated cars that came later are classified as Series II. BMW formerly didn’t distinguish between the two.
Comparable 1950s Grand Touring Roadsters
Mercedes-Benz 300 SL Roadster
Production Years: 1957–1963
Production Numbers: 1858
Average Market Value (Past 5 Years): $1.4M
Jaguar XKSS
Production Years: 1957
Production Numbers: 16
Average Market Value (Past 5 Years): $ 2.2 M+
Where the 300 SL offered similar levels of celebrity cachet and sophistication, it was quite common compared to the 507. The Jaguar XKSS, rarer and more exotic, was owned by the likes of Steve McQueen and is essentially a repurposed Le Mans racer. The 507 fell somewhere in between, elegant and sporty. But beyond everything else discussed, the Elvis Presley ownership and subsequent restoration by BMW Classic garnered global attention, and adds provenance once again, putting the spotlight on the 507.
Image Source: BMW Group Classic
FAQs
1. How Many BMW 507s are left?
A. Of the 252 examples built, around 200 are believed to survive today, many of which have been restored and are in the hands of collectors.
2. Why is the BMW 507 so expensive?
A. The 507’s high value is due to its rarity, aluminium body, timeless styling, and association with Elvis Presley, making it one of the most coveted post-war European roadsters.
3. How much did the Elvis BMW 507 sell for?
A. Elvis Presley’s fully restored BMW 507 didn’t go to auction. Instead, BMW Group Classic has showcased it as a heritage car, making the market value speculative.
4. How rare is the BMW 507?
A. The BMW 507 is very rare. Only 252 units were built during its three-year production run between 1956 and 1959.