The BMW M1 is undoubtedly one of the best applications of the wedge shape, at one point predicted to be "The Shape of Things to Come" by more than one automaker. But unlike most other practitioners of sharp angles, the novelty of M1's design and its significance for the company have hardly dissipated more than three decades later.

With just 399 road-going examples produced there is really no such thing as a high-mileage, driver-grade example, even though some M1s see more miles per year than others. But in less than two weeks, well-heeled bidders will have an opportunity to purchase an example with just 682 kilometers, or 423 miles, on the clock.

The M1's story is a complex one even without the engineering innovations packed into its design. The mid-engined coupe grew out of a desire by BMW to beat Porsche in Group 4 and Group 5 racing with the existing lineup, capable as it was, proving no match for the homologated cars coming out of Zuffenhausen. Penned by Giorgetto Giugiaro, the M1s paired an expansive, aerodynamic body with a 3,453cc inline six-cylinder engine producing 277 hp and fed by Kugelfischer mechanical fuel injection, with a five-speed manual transmission sending power to the rear wheels. With a wheelbase of 100.8 inches, the M1 was longer and significantly wider than BMW's cars to date, with the fully-developed road cars nevertheless offering plenty of luxuries along with impressive performance.

This example is finished in Arctic white over checkered cloth. RM Sotheby's

The FIA moved the goal posts before BMW had a chance to use the M1 to take on its rival from across the autobahn, but the coupe ended up gaining popularity in the single-model Procar series developed with F1. The result was a tremendous amount of publicity for BMW, with Procar series races taking place before each European GP event.

But just how did this Arctic white over black-checkered cloth example escape accumulating miles over the last 34 years? RM Sotheby's says that this M1, with chassis No. 4301426, ended up unsold at BMW Italia S.p.A., Palazzolo, a European dealer, and was then brought to the U.S. and stored in a warehouse. The car is said to have been imported by a dealer who was searching for an M1 for baseball legend Pete Rose, but in the time that it took the dealer to locate an unsold M1 for him Rose had found another example. The dealer, Don Rosen, ended up keeping the car, storing it until 2015.

The auction description is silent as to the conditions in which the M1 was stored all these years, but what is known is that the consignor purchased the car from Rosen this year, and then treated it to "a sympathetic freshening" which reportedly required the replacement of various soft parts, which we hope included as many hoses as possible. RM Sotheby's does not list in detail just which parts were replaced, or whether the car was exercised at all during its three decades in storage, though we don't see too many road trips during spring break in this car's future.

This M1 is said to have received recommissioning work recently, with a number of soft elements being replaced. RM Sotheby's

RM Sotheby's estimates this M1 to bring between $800,000 and $1 million on auction day. The best examples currently trade just north of $500,000, with the M1s having broken through the half-million dollar mark just a year and a half ago. For a little more perspective, the very best M1s started achieving more than $250,000 just four years ago, having broken the $200,000 barrier in 2010.

We can probably say "well purchased" to the consignor, though that doesn't change the fact that the most money a production M1 has brought in the last five years was $620,000 achieved this spring. Values are certainly going up, but the liberal estimate range reflects the uncertainty surrounding the pace of appreciation for this model. An ambitious estimate certainly creates buzz, but the right bidders have to be willing to bet that the money paid will be repeatable in the near future, with a little extra profit for themselves on the side. Of course, the winning bidder may choose to store it for another 30 years.

When it comes to BMWs at RM Sotheby's sale, this M1 may actually be overshadowed by a black BMW 507 seeking much greater money and riding a roller coaster of its own.

Visit the auction website to view the full list of lots from the upcoming NYC sale.

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