This rare BMW roadster with bids over $1.5 million may become the most expensive car ever sold on auction site Bring a Trailer

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This rare BMW roadster with bids over $1.5 million may become the most expensive car ever sold on auction site Bring a Trailer
  • Around 250 BMW 507s were built in the late 1950s, and now one of them is poised to rake in millions at auction.
  • With the bidding already at $1.6 million, a stunning 1957 BMW 507 is on its way to becoming the most expensive car ever sold on auction site Bring a Trailer — but it'll need to meet reserve for that to happen.
  • The pandemic has fueled a boom in online car auctions through companies like Bring a Trailer, RM Sotheby's, and Hemmings Auctions.

While the auto industry as a whole has taken a beating this year, car auctions are thriving. And popular auction site Bring a Trailer may broker its biggest sale ever come Monday.

The bidding on a stunning 1957 BMW 507 has already hit $1.6 million as of this writing, and that figure may keep climbing before the auction's end on December 7. To date, the priciest car ever sold on Bring a Trailer was a 1956 Mercedes-Benz 300SL Gullwing that brought in $1,234,567 last summer.

Read more: Online car auctions have seen a pandemic boom, partly because buyers want to move money into alternative assets

The potential record-setting sale comes as online car auctions experience a pandemic-fueled boom in interest. Economic uncertainty has led some to invest in concrete assets like classic cars, and as people spend less money on travel, some enthusiasts now have more money to play around with, representatives from Hemmings Auctions and Bring a Trailer told Business Insider.

Take a closer look at the exceptionally rare BMW up for auction below:

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Many consider the 507 to be one of the best-looking BMWs ever built - and its rarity makes it highly coveted and extremely valuable.

Many consider the 507 to be one of the best-looking BMWs ever built - and its rarity makes it highly coveted and extremely valuable.
1957 BMW 507 Series II. Bring a Trailer

BMW planned to mass produce the 507, but the project ended up being too expensive, so it stopped at 252 cars built from 1956 to 1960.

BMW planned to mass produce the 507, but the project ended up being too expensive, so it stopped at 252 cars built from 1956 to 1960.
1957 BMW 507 Series II. Bring a Trailer
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They tend to bring in millions at auction, and a 1957 model sold for roughly $5 million in 2018.

They tend to bring in millions at auction, and a 1957 model sold for roughly $5 million in 2018.
1957 BMW 507 Series II. Bring a Trailer

Source: BBC

This particular car was sold new in Rome and spent most of its life in Italy, before being imported to the US in 2000.

This particular car was sold new in Rome and spent most of its life in Italy, before being imported to the US in 2000.
1957 BMW 507 Series II. Bring a Trailer
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It's gone through lots of work to bring it to showroom condition.

It's gone through lots of work to bring it to showroom condition.
1957 BMW 507 Series II. Bring a Trailer

The seller says it's one of only 15 507s delivered from the factory in black. But the paint isn't original - it was refinished before the car was imported.

The seller says it's one of only 15 507s delivered from the factory in black. But the paint isn't original - it was refinished before the car was imported.
1957 BMW 507 Series II. Bring a Trailer
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The car comes with an optional hardtop, which was also refinished.

The car comes with an optional hardtop, which was also refinished.
1957 BMW 507 Series II. Bring a Trailer

The car sports color-matched wheels, and several parts have been rechromed.

The car sports color-matched wheels, and several parts have been rechromed.
1957 BMW 507 Series II. Bring a Trailer
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The 507's butterscotch-leather interior was reupholstered before it was imported ...

The 507's butterscotch-leather interior was reupholstered before it was imported ...
1957 BMW 507 Series II. Bring a Trailer

... and its wood-trimmed steering wheel was rebuilt in 2008.

... and its wood-trimmed steering wheel was rebuilt in 2008.
1957 BMW 507 Series II. Bring a Trailer
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But, according to the listing, the car's mechanicals have stood the test of time better than its interior or its paint job.

But, according to the listing, the car's mechanicals have stood the test of time better than its interior or its paint job.
1957 BMW 507 Series II. Bring a Trailer

The 507's four-speed manual transmission is original ...

The 507's four-speed manual transmission is original ...
1957 BMW 507 Series II. Bring a Trailer
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... and although its V8 engine was replaced early in the car's life, it hasn't been replaced since.

... and although its V8 engine was replaced early in the car's life, it hasn't been replaced since.
1957 BMW 507 Series II. Bring a Trailer

The car is being sold with a factory tool kit that's housed inside the engine compartment, along with an owner's manual and a service manual.

The car is being sold with a factory tool kit that's housed inside the engine compartment, along with an owner's manual and a service manual.
1957 BMW 507 Series II. Bring a Trailer
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Its odometer shows approximately 8,500 miles, but the true mileage is unknown, according to the listing.

Its odometer shows approximately 8,500 miles, but the true mileage is unknown, according to the listing.
1957 BMW 507 Series II. Bring a Trailer

Multiple cars have bid well into the millions on Bring a Trailer and not met their reserve, so we'll have to wait until Monday to see if this 507 officially breaks any records.

Multiple cars have bid well into the millions on Bring a Trailer and not met their reserve, so we'll have to wait until Monday to see if this 507 officially breaks any records.
1957 BMW 507 Series II. Bring a Trailer
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