One to Buy: ex-Gustavo Quintero 2-owner 1957 BMW 507 Series 2
Although it had been conceived as a mid-range model to rival other sporty convertibles from the likes of Jaguar, Alfa Romeo and Chevrolet, its unexpectedly labour intensive construction process meant the BMW 507 ended up retailing at more than twice the price of its rivals.
Accordingly, despite having arguably been the prettiest car of its era, just a little over 250 examples of the 507 were ever completed and BMW lost a substantial sum on every example sold.
Production was split between two series, the second of which made up around 85% of the production run and came with features like a repositioned fuel tank that eliminated the smell of petrol into the cockpit and a much-improved interior.
Set to go under the hammer at Bonhams’ auction at the Quail Lodge & Golf Club in Carmel on August 16th is a sensational second series 507 that has been in the possession of just two owners from new.
Chassis 70082 was ordered through the Venezuelan BMW distributor, Gustavo Zingg in Caracas, by Gustavo Quintero on September 5th 1957. The car was subsequently delivered on November 29th, however, Quintero had requested a white example so the Silver Grey machine that arrived was subsequently repainted to his requirements.
In the late summer of 1961, chassis 70082 was sold to its second Venezuelan owner with whose family the car has remained ever since.
Optioned with the desirable Rudge wheels, an aluminium hardtop and radio, this matching numbers 507 represents a rare opportunity to acquire a never restored-in-the-modern-era example of BMW’s most sought after production model.
Reprinted below is Bonhams’ description:
Estimate: Refer to department
Chassis no. 70082
Engine no. 40073
In present ownership since 1961
Just two owners from new
Among the longest single-ownership tenure of any 507
Preferred 'Series II' model benefitting from factory refinements
Desirably equipped with hardtop, Rudge wheels, Becker Le Mans Radio and Reims Short-Wave Radio
Numbers-matching example, per BMW Group Classic correspondence
Delivered new to Venezuela
Exacting older refurbishment maintaining a high standard of quality
One of the most beautiful sporting cars of the 1950s
THE BMW 507
During the 1950s, car designers on both sides of the Atlantic produced some of the all-time greats of automotive styling, none of them more classically beautiful than the sublime BMW 507. Indeed, a measure of the 507's enduring significance may be discerned from BMW's 're-introduction' of the model after a gap of 40 years, in the form of the Z8 roadster. In an age when it has become de rigueur for heritage-conscious motor manufacturers to incorporate styling cues from landmark models into their latest offerings, few have ventured as far as BMW in paying homage to a recognized Classic.
Transatlantic in inspiration - aimed at the United States market, styled by a New York-domiciled German expatriate and built in Germany - the 507 reflected North American taste yet was unmistakably European in origin. The 507 saga began in 1954, when Austrian-born entrepreneur Max Hoffman, at that time the US importer of various European makes, convinced BMW that if they built a sports car to rival Mercedes-Benz's successful 300 SL, he could sell sufficient numbers in the United States to make the project viable.
Hoffman knew just the man to style the car too: Count Albrecht von Goertz, an independent industrial designer who had worked for the legendary Raymond Loewy on the latter's trend-setting Studebakers. Designer of everything from fountain pens to furniture, Goertz had never before styled an entire car, and after the 507, would not work for BMW again until the 1980s.
The fundamental elements of BMW's proposed new sports car already existed in the 502 saloon, most notably its 3.2-liter, all-aluminum V8 engine, which was installed in a shortened chassis for the 507. Mechanical design was handled by BMW stalwarts Fritz Fiedler and Alex von Falkenhausen, with Goertz shuttling back and forth between the USA and Germany to oversee production of the full-size clay model. The robust nature of the 502-based chassis necessitated the use of aluminum for the 507's bodywork in the interest of weight saving, the finished car tipping the scales at around 1,280kg. With 150bhp on tap, performance was adequate if not stunning, production cars being capable of around 200km/h (125mph), with 100km/h (62mph) coming up in 11 seconds. For relaxed cruising though, the 507 had few peers, its state-of-the-art V8 engine delivering ample torque over a wide rev range.
Although the prototype displayed at the 1955 Frankfurt Auto Show met with critical acclaim, the 507's reception at its New York debut two months earlier had been disappointing. BMW had missed Hoffman's $5,000 price target by a wide margin, the 507's initial US selling price being set at $9,000, more than double the cost of a Ford Thunderbird or Chevrolet Corvette. In the UK, one could buy two Jaguar XK150s for the price of a single 507. Even Mercedes-Benz's 300 SL Coupé was cheaper, though the Stuttgart firm was sufficiently impressed (worried?) by the 507 to introduce a direct competitor in the form of the 300 SL Roadster.
Production proper of the 507 did not begin until 1956, the first series being built until June 1957 when the design was revised in detail. Improvements were mainly concentrated on the interior, which gained a deeper dashboard, a greater range of fore-and-aft seat adjustment, and a rear parcel shelf. There was, almost inevitably, an increase in price that only served to place the 507 even further beyond the reach of ordinary mortals.
For those who could afford style at any price, however, BMW's svelte roadster was the car to be seen in: pop idol Elvis Presley, motorcycling World Champion John Surtees, film stars Alain Delon, David Carradine and Ursula Andress, skiing champion Toni Sailer, Prince Rainier of Monaco, King Constantine II of Greece and the Aga Khan all being owners at one time or another. Nevertheless, such a limited clientele, however exclusive, could not sustain the 507 in production, which ceased in December 1959 after only 253 cars had been sold.
THE CAR OFFERED
This remarkable example of BMW's iconic 50s Sportscar carries an incredible 63 years of tenure in its current ownership, something that may well be the longest of any of these cars, eclipsing even John Surtees' 61 years to its sale by Bonhams|Cars in 2018 for the world record price of $5m. The longevity of this partnership reflects the true knowledge and passion for these cars of its 1961 purchaser, and the respect and esteem with which it has been held by his family as custodians in later years.
The long-term Venezuelan owner was a good friend of the importer for these cars, Gustavo Zingg and saw a number of the thirteen 507s that were delivered new through him, including this example, 70082, which would originally be retailed by Zingg to Gustavo Quintero in 1958.
Factory records state the car was originally ordered on September 5, 1957, built by November 6, 1957 and delivered on November 29, to Caracas, and as-shipped, it was finished in Silver Grey paintwork. It was likely on the road in January 1958.
From dialogue in period with its original owner Quintero, it is known that prior to delivery the car was repainted for him to honor his requirements, in the popular white of which there were no less than three variants presented to buyers in the day, Old Ivory, Papyrus White and Feather White – the latter so famously clothing 'The King', Elvis Presley's car. And so it is that 70082 has been white for virtually all of its life.
It is understood that Gustavo Quintero must have raced the car between 1958 and 1960, although details of this are unknown, and very little is recorded of these cars being raced there in this period, it seems this was probably closed road sprints. By 1961, the BMW was clearly surplus to Quintero's requirements and the current ownership was able to purchase the car in August/September that year for the not inconsiderable amount of $4,179.
As with all cars of this era, the factory consistently updated the model during production, and from the owner's knowledge of these cars (also affirmed by the book "The Legendary BMW 507" by Dr. Karlheinz Lange), the current owner has been able to decipher that 70082 included the following improvements:
Introduced from car 70018-on, stronger spring arm and brackets; 70030 on, standardized brake shoes; 70050 on, deletion of idler switch for heater; from 70052 on, new radiator, steering knuckle bearing journals joint elements; from 70059 on, new centrifugal pump for windshield washer; from 70067 on, 44-mm opening in chassis cross-tube. (torsion-bar springs were making contact); from # 70073 on, the engine and transmission were lowered by 5mm; from 70077 on, additional heat treatment was applied to the flange in the gearbox.
In addition, 70082 also shows some additional modifications introduced in 1957 – including: Rubber bushings in the front suspension; softer high-speed tires (Continental); improved synchromesh gearbox; flexible joints in the steering column to reduce kickback; and increased compression ratio of 7.8:1 for the 100-octane gasoline soon to be available; valve rocker arm ratio, camshaft and pushrods; warm-starting assistance.
Beyond these very technical aspects, it is understood that the car was equipped with a number of the key options which have proven so popular with collectors today, namely – Aluminum Hard-top; Rudge Center-lock wheels; Becker Le Mans Radio, with Rheims Short Wave addition; automatic aerial for AM and Manual aerial for Shortwave; Underbody protection; headlamps with asymmetric low beam; and back up lights below the rear bumper.
From new, this car has been lovingly enjoyed. In 1966, and at an odometer reading of 72,750kms, it was in need of some technical refreshing and was taken to BMW of Caracas where it is reported to have received thorough updates and work on the car's engine, clutch, transmission, differential and brakes, using by then period/original BMW parts. Some of the invoices for this work are on file. Around the same time in the late 1960s the car was repainted in an ultramarine blue.
In 1986 the decision was made to 'give the car a birthday' and return it to the way in which it had been when bought. With the mass of accumulated knowledge over his already decades of custody, the owner ensured it was reconditioned as authentically as possible, and in the minutest detail. To discuss these cars with him is a fascinating and educational journey.
When needed, the car was repainted to its previous white and the interior retrimmed in the red leather it had been since delivered new. Even the rubber mats were copied perfectly in Italy and refitted. The original soft top which the car still retained and does to this day was copied with absolute precision in German Happich, Sonneland Black material with its characteristic tan Criss Cross backing. By that stage the windshield showed a hairline crack and a decision was made to have this copied also and replaced. Otherwise, virtually everything is original in this car down to its keys.
In 2014, the 507 passed within his family and was imported to the USA. Its use in the past decade has been extremely limited, and in fact there are only a few hundred miles (2,430km) covered since its 1967 mechanical refurbishment by BMW.
Testament to their love of the car and desire for it to be correct, once in the USA when they felt that the gearbox and clutch required attention, they were shipped to ZF Friedrichshafen AG in Germany and were fully rebuilt. By this time, two of the factory tools were found to be missing, two Hazet screwdrivers, so the exact Hazet pieces were sourced and replaced.
One aspect which was never known until recent years was whether its 150bhp V8 was the original unit to the car, correspondence with BMW Group Classic in 2013 provided confirmation that BMW had delivered 70082 with engine number 40073, thus confirming it is a matching numbers car.
Aesthetically, its 1980s refurbishment has mellowed sensitively and it is the opinion of the owners and this writer that it embodies a sympathetic representation of how the car would have been in 1957, and certainly as this ownership can recall from 1961 particularly with regard to fit and finishes, rather than being an over-restored modern interpretation. The only material aspect replaced during this period were its data and body plates which by then were heavily corroded and did not match the overall condition of the car so those were replaced with correct format pieces.
After a period of nearly 10 years of climate-controlled storage and inactivity, the BMW has been carefully extracted from storage, gone through and checked over, detailed thoroughly and moreover all fluids replaced and its now aged tires renewed with fresh Blockley rubber. Accordingly, it now presents extremely well and is reported to be in good running condition.
Aside from being one of the greatest looking of all 50s sports cars, these cars provide entry to any number of exclusive events including the Mille Miglia, Colorado Grand, California Mille, and more. Their resonance with collectors is rubber stamped by the 2000s Z8 and the sheer strength of the BMW brand today.
With 2 owners from new in its 67 years, all of the key attributes so prized on these cars by the collecting market, including Rudge wheels and hard top, and its appealing presentation this is a very rare occasion to buy a matching numbers example, and surely one of the best anywhere in the world of this iconic BMW model.
