Vehicle Description
Chassis No. 70010
Engine No. 40015
Body No. 001009
First unveiled at New York's Waldorf=Astoria Hotel in August 1955,
the BMW 507 was a bold and beautiful statement of intent from a
company at a crossroads. Emerging from the postwar tumult as a
manufacturer best known for small cars, BMW sought to redefine
itself in the eyes of the world-and especially in the lucrative
American market. The initiative was sparked by none other than Max
Hoffman, the influential U.S. importer responsible for introducing
American buyers to marques such as Porsche, Mercedes-Benz, and
Jaguar. Hoffman envisioned a glamorous sports car that could bridge
the gap between the Porsche 356 Speedster and the Mercedes-Benz 300
SL, and he found a willing partner in BMW.
The result was the 507, a car that remains one of the most
arresting designs of the 1950s. Styled by Count Albrecht Graf von
Goertz-protege of industrial design legend Raymond Loewy-the 507's
long, sweeping proportions, sensuous body lines, and plunging nose
created an icon. BMW's signature twin-kidney grille was reimagined
in dramatic fashion, flanked by curvaceous front fenders,
delicately integrated "shark gill" vents, and understated chrome
details. Its hand-formed aluminum body panels gave the car an air
of coachbuilt exclusivity.
Mechanically, the 507 drew from the best existing components,
including a shortened version of the 503's chassis and BMW's robust
3.2-liter aluminum-alloy V8 engine. With twin carburetors, it
produced approximately 150 horsepower, paired with a four-speed
synchronized transmission and drum brakes.
Yet the same qualities that made the 507 so compelling also led to
its commercial downfall. Hoffman had hoped for a $5,000 price
point; the car ultimately debuted at more than $9,000 in the
U.S.-well above its target, and even more than a Mercedes 300 SL.
The cost was due in part to unexpectedly high production expenses
for the bespoke aluminum body and hand-built nature of each car. As
a result, only 252 examples were produced between 1956 and 1959.
Production soon transitioned to the Series II models, and as a
result only 34 glamorous and ultra-rare Series I examples were
built. Despite its limited commercial success, the 507 became an
instant classic, in-demand by royalty, actors, and motorsport
icons-Elvis Presley, Ursula Andress, John Surtees, and King
Baudouin among them. More than six decades later, the 507 remains a
symbol of BMW's ambition, engineering prowess, and artistic daring
during one of the company's most pivotal chapters.
Series I BMW 507 chassis number 70010 was finished in Munich on the
8th of February 1957. Finished in Ivory the rare 507 was delivered
just three days later via Gebr. Spicker Automobil-GmbH in Duisburg,
Germany. By the early 1970s, the 507 was located in northern Ohio
where it was spotted by newly budding BMW aficionado Richard
Margolis. Margolis would first spot 70010 while driving his 1971
BMW Bavaria. It turned out that the owner was Mayer Robbins, the
director of a company he represented. Margolis met Robbins and the
507, inquiring as to its availability. The car was a little worse
for wear, yet unrestored it was firmly not for sale. As proof of
the impermanence of life, Margolis' phone rang in 1978 and was told
the car could be his for $10,000-a princely sum in the late 1970s.
While the car remained in "barn find" condition, a deal was made
with a twinge of regret.
Margolis realized that the 507, while special, would require work
to become a car he could drive and enjoy. The 507's new owner
wisely photographed the car prior to restoration, capturing details
like an NL oval country badge that suggests prior Dutch ownership,
and contacted the BMW Archive in Munich-receiving a kind letter in
reply along with a 507 Betriebsanleitung Owner's Manual. Margolis
began a restoration later that year "and thought I had it finished
several times after that, but the restoration was not really
completed until September of 2002." In truth, the car was restored
in stages with each successive attempt to better the previous.
After 24 years and "incalculable hours" spent restoring the car, it
emerged finished in red with a black canvas soft top over a black
leather interior piped in red leather with black carpeting. Clearly
satisfied with the results, a BMW Certificate was ordered, and the
Series I Roadster was ready to be driven and shown. It was selected
to be a "Car of the Century" feature exhibit at the Canadian
National Exhibition in Toronto, Canada and featured in shows across
his native Ohio including a June 2004 Ohio Region Stan Hywet Meet
where it received a perfect 100-point score.
In 2004, Richard Margolis made the difficult decision to part with
his 507 after a quarter-century of ownership. It was acquired at a
public sale in Arizona by the current owner, who after purchasing a
BMW Z8 and seeing a 507 for the first time at a Z8 driving event,
became enamored with the model. It moved to an expansive collection
in Upstate New York that featured many automobiles that were the
best of their kind-and, best of all, they are regularly driven. The
collection includes multiple Bugattis, a Duesenberg Model J, an
Erdmann & Rossi Mercedes-Benz 540K, and now the newly acquired
Series I 507, chassis number 70010. While with its current
caretaker of 21 years, the 507 has continued to be cared for,
driven, and shown at events including the Colorado Grand in 2014,
The Elegance at Hershey in 2015, the Greenwich Concours d'Elegance
in 2018, and many others.
A beautifully kept and exceedingly rare Series I, chassis 70010
exemplifies the hallowed legacy of the BMW 507. Thoughtfully
restored and cherished by just two passionate long-term owners over
nearly five decades, this remarkable example remains both a
show-worthy centerpiece and an eminently usable grand tourer.
Eligible for premier driving events and concours alike, chassis
70010 offers its next caretaker the rare opportunity to own one of
the most exclusive and historically significant postwar BMWs ever
produced-far rarer than a 300 SL, yet equally evocative. As both a
collector's prize and a spirited driver's machine, this 507 opens
the door to a world of distinction, beauty, and unforgettable
motoring experiences.
