1956 BMW 501

4dr Sedan

8-cyl. 2580cc/99hp 2bbl

#1 Concours condition#1 Concours
#2 Excellent condition#2 Excellent
#3 Good condition#3 Good

$38,300*

equal0%
#4 Fair condition#4 Fair
Value Graph01/2404/2407/24$10k$20k$30kOct 2024
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1952-1963 BMW 501 / 502 / 2600 stats
Highest sale
$341,000
Lowest sale
$2,942
Most recent sale
$48,257
Sales
30

Photos

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1956 BMW 502 3.2 Cabriolet
1958 BMW 501A Sedan
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Model overview

Model description

At the end of the Second World War, BMW was in dire straits. The Eisenach factory ended up in the Russian sector and East German workers would make pre-war 327s until 1955. Meanwhile, British prewar partner Frazer Nash had snagged BMW engineer Fritz Fiedler at war’s end, and Bristol was building the very BMW-like 400 in England. BMW’s management pondered a Fiat Topolino-sized two-seater, but Kurt Donath the senior executive thought something much better and much grander was needed.

BMW revived a prewar design that was never built, and the sole surviving 332 sedan was reworked as the 541, and then launched at the 1951 Frankfurt Auto show as the new 501. The public was underwhelmed. The “Baroque Angel” was powered by the prewar 326’s 65 bhp, 2-liter six-cylinder engine, but it weighed 2,955 lbs. It also cost a staggering $4,500, half again as much as the Mercedes-Benz 220. It soldiered on until 1958 and 8,951 were built, including a number of handsome Baur cabriolets.

84 mph just wouldn’t do, though, and the solution was an aluminum 95 bhp, 2.6-liter V-8, which was introduced in 1954 and cut 0-60 mph times to 15 seconds and raised the top speed to 110 mph. A further increase to 3.2 liters in 1955 raised power to 120 bhp and 0-60 mph was cut to to 13 seconds. A 502 model had joined the 501, with much more luxurious equipment, though either engine could be ordered.

For 1957, BMW added another carburetor, freed up the exhaust and altered the camshaft for 140 bhp in the BMW 3.2 Super sedan. U.S. importer Max Hoddman was pressing for something flashier to sell in America and persuaded designer Albrech Goertz to come up with the 503 coupe and convertible and the 507 two-seater sports car – both using the 502 Super’s drivetrain.

While these two near-supercars received mild applause, the cost of building both was even worse than the big sedan. Only 413 503 coupes and cabriolets were built between 1956-59 and even fewer 507 two-seaters.

For the last two years that the 502s were built, they were marketed as 2600 models in an effort to conceal the age of the design. When the 500 Series was wound up in 1963, to make way for the ground-breaking “Neue Klasse” 1500 sedans, it was found that the 23,400 cars sold actually cost the company $19 million – an average loss of $812 on each one.

Fortunately for BMW, between 1955-62 they had also sold 161,728 Isettas, plus another 41,000 under license in other countries. The little bubble car really had saved the company, and the Neue Klasse would see them into the future. Today, though, the grand cars of the 1950s are fascinating pieces of BMW history and desirable collector cars.

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Common Questions

The value of a 1956 BMW 501 can vary greatly depending on its condition, mileage, options, and history. Typically, you can expect to pay around $34,950 for a 1956 BMW 501 in good condition with average spec.

The highest selling price of a 1956 BMW 501 at auction over the last three years was $28,092. The highest prices are usually reserved for rare or exceptionally well-maintained examples with desirable features or modifications and excellent history.

The lowest selling price of a 1956 BMW 501 at auction over the last three years was $28,092. The lowest prices are usually paid for examples that have extensive maintenance needs, differ greatly from their original configuration, or have accident histories or title problems.

In the last three years there have been 1 1956 BMW 501s sold at public auction.

The most recent auction sale of a 1956 BMW 501 was $28,092 on July 12, 2022 by Car and Classic.

Many factors can increase a car's value including excellent condition, exceptional originality, a recent restoration, low mileage, unique provenance, desirable options, popular or unique color choices, and excellent maintenance records. Upgrades and modifications that enhance performance or aesthetics can also add value.

Factors that can decrease a car's value include unusually high mileage, poor maintenance history, visible wear and tear, accidents or damage, title issues, and gaps in ownership history. Additionally, less popular color choices and extensive modifications that don't appeal to a broad audience can reduce value.

Mileage plays a significant role in a classic car’s value. Lower mileage usually increases value because it indicates a higher degree of originality, is rarer, and suggests less wear and tear. However, cars with exceptionally low mileage may also have maintenance needs due to lack of use. Whether someone should pay more for a vehicle with lower miles will depend on how they plan on using it, and the vehicle's specific condition.

The value of modified cars differs widely based on the type and quality of modifications. While some modifications can significantly increase value, especially performance enhancements and high-quality custom work, others may not add much or could even detract from the car’s value if they appeal to only a limited audience.

All prices shown here are based on various data sources, as detailed in About Our Prices. The Hagerty Price Guide is for informational purposes only and is not intended as financial advice. More information on how forecast models are calculated can be found on Forecasted Values page. For additional information and a complete description of benefits, visit hagerty.com/legal. Purchase of insurance not required for membership in HDC. Hagerty, Hagerty Valuation Tools & Hagerty Drivers Club are registered trademarks of The Hagerty Group LLC, ©2024 The Hagerty Group, LLC. All Rights Reserved. The Hagerty Group, LLC is a wholly owned subsidiary of Hagerty, Inc.

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