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1956 BMW 502 Cabriolet / 59094 Vehicle Information

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 502 photograph

1956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 5021956 BMW 502
Sold for $341,000 at 2015 RM Sotheby's : Amelia Island.
BMW introduced their 501 model in April 1951 at the Frankfurt Motor Show. It brought with it solid engineering and luxurious appointments, and was priced at over 15,000 DM, making it very much an elite automobile. Peter Szymanowski, one-time head of BMW design, was credited with the car's styling. The design preserved traditional BMW cues, including the double-kidney grille and flared fenders. The 501, as well as the 502, was nicknamed the 'Baroque Angel,' for their flowing, curvaceous appearance.

Powering the Model 501 was a straight-six OHV engine that was mated to a four-speed manual gearbox. It was given an all-new platform, double A-arm front suspension, and a rear live axle with torsion bar springs in both the front and rear.

In 1954, BMW introduced a derivation of the 501 saloon, the Model 502. It was Germany's first post-war V8 powered car. The engine displaced 2.6 liters with an aluminum alloy block and an available 100 horsepower. At the time, it was said to be Germany's fastest production sedan, with a top speed of 100 mph. Along with improved performance, the BMW 502 was fitted with elegant interior fittings. Standard features included fog lamps and individual front seats. Body styles included a coupe, two-door and four-door cabriolet, and a saloon. The coupe and cabriolet bodies were built by Baur, as BMW production facilities had been compromised by the war. The relationship between Baur and BMW extended back to the 1930s; Baur had been building convertibles for BMW since that time.

The BMW 502 Cabriolet bodystyle was introduced for 1956, and 57 examples of the two-door cabriolets were produced by Baur. These cars were sold through the BMW dealer network and built to order. The list price was DM 21,900; delivery times could take up to six months.

This particular example is a Two-Door Cabriolet with coachwork by Baur. It is one of only two such cars known to be in the United States. The car has been given a restoration since new. It was manufactured on June 2, 1956 and delivered to the firm of Siemens & Halske, AG, in Munich for executive use. It is not known when the car was brought to Canada, but by 1973 it was registered by Dr. Franklin Lam, an Ottawa dentist.

In 2010, Dr. Lam had the idle vehicle towed away. The tow truck driver, Michael Higgins, purchased the car with the intention of restoring it. The project proved too great to complete, so he elected to sell the car. On June 6, 2001, the current owners acquired the car.

The new owners had the car shipped to Europe for restoration. It was given a Topaz Blue metallic finish (code 364) and a beige leather interior.

The owners took delivery of the refurbished 502 on May 2, 2013. Since the work was completed, the car has competed in several events that have been sponsored by the BMW Vintage & Classic Car Club of America, such as a 1000-mile tour in northern Germany in September 2013 and a 1,000-mile road rally through the Colorado Rockies. The 502 has also been entered in several concours d 'elegance events, where it has won Best in Class and Peoples' Choice awards.

The car rides on Michelin radial tires and is powered by a 3.2-liter V8 engine (the original 2.6-liter engine (number 11849) was replaced in favor of the more powerful 3.2-liter unit). The front drum brakes have been exchanged for power-assisted disc brakes.


By Daniel Vaughan | May 2015


2020 RM Sothebys : Shift/Monterey

Pre-Auction Estimates :
USD $300,000-USD $350,000 
Lot was not sold

2015 RM Sotheby's : Amelia Island

Pre-Auction Estimates :
USD $250,000-USD $350,000 
Sale Price :
USD $341,000

1956 BMW 502 Auction Sales

Recent Sales

(Data based on Model Year 1956 sales)
1956 BMW 502 V8
Chassis#: 61-595
Sold for USD$36,004
  2019 Silverstone - Race Retro Classic Car
 
1956 BMW 502 Sedan
Chassis#: 62416
Sold for USD$24,640
  2018 Bonhams : Collectors Motorcars and Automobilia Auction
 
1956 BMW 502
Chassis#: 61128
Sold for USD$33,750
  2017 Coys : Classic Days at Schloss Dyck
 
1956 BMW 502 Cabriolet by Baur
Chassis#: 59094
Sold for USD$341,000
  2015 RM Sotheby's : Amelia Island
1956 BMW 502 image  1956 BMW 502 image  

Vehicles That Failed To Sell

1956 BMW 502's that have appeared at auction but did not sell.
VehicleChassisEventHigh BidEst. LowEst. High
1956 BMW 502 Cabriolet by Baur590942020 RM Sothebys : Shift/Monterey $300,000$350,000
1956 BMW 502 V861-5952017 Silverstone Auctions : Race Retro Classic Car Sale   

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1956 BMW 502

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