Lot 084: 1957 BMW 503 CONVERTIBLE

Having served time alongside Raymond Loewy at Studebaker where he helped pen the 'Bullet Nose' Champion, Count Albrecht von Goertz subsequently left to set-up his own design studio in New York. Befriended by legendary East Coast importer Max Hoffman, the German-born stylist soon found his name being put forward to shape the two models with which BMW hoped to crack the American market - namely the iconic 503 and 507. Introduced at the 1955 Geneva Salon, the former was intended as a high-speed luxury grand tourer. Based around a perimeter frame chassis equipped with all-round torsion-bar suspension (double-wishbone front / 'live' axle rear) and four-wheel hydraulic drum brakes, it was powered by an all-alloy OHV 3.2 litre V8 engine allied to four-speed manual transmission. With a quoted 140bhp and 163lbft of torque on tap, the four-seater was reputedly capable of 118mph. Bodied in aluminium; the 503 could be had in either fixed-head coupe or convertible guises. A rival to the likes of the Mercedes-Benz 300SC and Bentley R-type Continental, its 29,500DM price tag was some 3,000DM more than that of the mechanically identical 507. Intended to take BMW to new heights of prosperity, the 503 almost broke it instead. Sporting a wilfully extravagant version of the company's trademark 'double kidney' grille, hooded headlamps and vestigial tail fins, the car did not want for visual drama and featured in various fashion advertisements of the day. Priced at nearly twice Hoffman's recommendation due to the labour intensive nature of its construction, the BMW sold in tiny numbers. Despite such niceties as the first power hood to appear on a German car and electric windows, the convertible proved even scarcer than its fixed-head sibling. Indeed, it is thought that a mere 132 drop-tops left the Munich factory of which only three were to right-hand drive specification. Finished in white with dark red leather upholstery, this particular right-hand example is described by the vendor as being in "excellent" condition with regard to its engine, gearbox, electrical equipment, interior trim, chassis, bodywork and wheels / tyres (while, he rates the paintwork as "fair"). Said to have spent the past twenty seven years as part of a Hong Kong based private collection, chassis 69201 has only recently returned to Europe. Reportedly treated to a new hood and carpets approximately ten years ago, it pleasingly retains its original upholstery and switchgear. One of the more desirable late series cars fitted with a floor-mounted rather than column-mounted gearchange, the 503 further benefits from an unleaded cylinder head conversion, uprated cooling system (expansion tank, modern radiator fan, reinforced core) and the adoption of electronic ignition. The subject of a recent major service, the two-door is further understood to have had its running gear restored (brakes, suspension, bearings and silentblocs etc). Thought to date from the 1960s, the BMW's paintwork shows signs of cracking and marbling in places but otherwise remains presentable while exuding a wonderful patina. However, there are one or two pieces of chromework that could do with replating. Underneath, the chassis is apparently sound as a bell (no doubt a contributory factor in the convertible's excellent panel fit), while the aluminium bodywork seems to be free of electrolytic corrosion. Stated to fire on the "first turn of the key" and to be in "perfect running order", we are further informed that the 503 sports "a magnificent engine bay" and "complete tool kit". Taking less than fifteen seconds to retract, its fully lined soft-top plays host to a courtesy light and glass rear window. An exceptional motor car and most likely the only right-hand drive BMW 503 Convertible we will ever offer for sale, chassis 69201 still comes with both sets of original keys.