Concealed For Four A long time – BMW 507 Sells For $2.3 Million At Bonhams Audrain Concours Auction
October 3, 2022 by Bonhams
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A scarce instance of BMW’s glamorous Fifties flagship sportscar, a 1957 BMW 507 Series II Roadster, which had been hidden in a Philadelphia garage for additional than 4 a long time, stole the limelight in the Bonhams Audrain Concours Auction on Friday (September 30), offering for $2,315,000 and topping the successful sale, which was 88% offered.
One of only 252 507s produced, creating it 1 of the most collectible and coveted BMWs, this largely original illustration had been offered from a solitary-family members possession of 43 several years, getting been acquired by the vendor’s father in 1979. Unusually for such a glamorous assertion auto, the 507 was pushed straight into a modest garage, wherever it remained without the need of turning a wheel – only getting commenced up from time to time.
Minimal wonder that this ‘garage find’ brought on a stir in Newport’s Global Tennis Corridor of Fame where by Bonhams hosted the sale as the auction lover of the Audrain Newport Concours & Motor 7 days. The bidding opened at $1.1 million, climbing to north of $2 million, earning applause from the saleroom.
Eric Minoff, Senior Expert, Bonhams US Collector Cars and trucks, who located and consigned the BMW, explained: ‘This motor vehicle was a dream discovery. It is really outstanding that this kind of an vital sportscar could be hidden from perspective, in an unsuspecting get rid of, for extra than 40 a long time. It was the epitome of the Million Dollar Barn Come across – really a concealed treasure – and this 507 delivers a excellent possibility for its new owner.’
An additional huge hitter at the sale was a 1958 Mercedes-Benz 300 SL Roadster, also a match for the 507 in their heyday, which was the next most valuable sale at Audrain, accomplishing one more 7-figure sum of $1,077,500.
Other desirable collector cars and trucks which carried out well at the second version of the Audrain Concours Auction bundled a brace of powerful, small-mileage Aston Martin V8s. A 1986 V8 Athletics Saloon far surpassed its pre-sale estimate, earning $280,000, although its sibling, a 1989 V8 Vantage Volante, offered from solitary-relatives ownership from new, bought for $207,200, topping its estimate.
The auction introduced a boutique assortment of 45 collector autos spanning more than a century of automotive excellence. One of the earliest choices was a good illustration from the incredibly to start with sportscar brand in the Usa: Mercer. The 1920 Mercer Product 22-70 Series 5 ‘Raceabout’ Conversion, which was previously in the essential collections of Invoice Harrah and Al Ferrara, realised $268,600.
Further more noteworthy benefits in Audrain bundled:
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1994 Lamborghini Diablo VT, bought for $252,000. A properly-preserved, low mileage, case in point of the 200mph supercar which easily reached its pre-sale estimate.
1977 Porsche 930 3. Turbo Carrera, manufactured $162,400, exceeding its leading estimate. A matching figures, restored illustration of the attractive very first technology 3. Turbo Carrera.
Rupert Banner, Bonhams Collector Automobiles World wide Head of Specialists, included: We were delighted by the enthusiastic reception to this sale and strong bidding in the saleroom, with a lot of ‘Newport sized’ bids and battles.
‘The prestigious Audrain Newport Concours & Motor Week has firmly set up by itself as a must-show up at day on the global collector motor vehicle calendar, many thanks to Donald Osborne and his experienced workforce. Our dedication will increase with auctions by way of to 2025, when supporting their other functions which include the Veteran Vehicle Tour in the Spring and the approaching Nashville Tour in November.’
The Bonhams Collector Automobiles team will now cross the Atlantic for the Zoute Sale on Sunday Oct 9 at another entire world-class collecting, the Zoute Grand Prix, in the Belgian resort of Knokke-Heist. The sale is headlined by a uncommon 1985 Ferrari 288 GTO, sent new to Walter Wolf, the former Method 1 team proprietor. Bonhams : The Zoute Sale.