8/30/2011 Update: This car has been sold to Europe.

From 8/10/2010:

Of the 252 BMW 507’s ever built, this is the 12th one produced and it wears serial number 70.012. The car was one of three originally shipped to the USA in February 1957 and now shows 39,584 original miles. Records indicate that after spending several decades in the USA, the car was purchased in 1977 by a Japanese collector and shipped to Japan where it remains today. It has all matching numbers and comes with both Japanese and California titles and both original black plates. It is available in Osaka, Japan for $950k.

The 507 was intended to revive BMW’s sporting image but instead, because of extensive research and build costs, it took the company to the edge of bankruptcy. The Series 1, also known as the “Continental Version,” was designed to be a sports car for the USA, and only 34 were made. It was first introduced at the Waldorf-Astoria Hotel in New York in the summer of 1955. The body is almost entirely hand-formed aluminum and no two models are exactly the same. Finished in Feather White over bright red leather with a black soft top, this car has the right look and even looks impressive with the top raised.

The Albrecht Von Goertz body design has never looked better, and the color-matched wheels cover the big Alfin drum brakes at all four corners. Inside the interior is in lovely condition, and the striking color combination was clearly specified for the US market. The dash, upholstery, and factory steering wheel are all in top condition.

70.012 is equipped with its original 3168cc V8 engine #40020 and a 4-speed manual transmission.

This is an impressive example of one of the best looking open cars of all time. We are excited to feature it here as a BaT Exclusive and while it does look terrific standing still, we hope that the next owner can drive it as it was meant to be. Check out the Flickr album slide-show below for 50+ detail photos.