BMW made just 254 examples of the 507, most of which were sold to celebrities and royalty. Elvis Presley bought his 1957 BMW 507 roadster when stationed in Germany as a GI. The King of Rock n' Roll first saw the car being raced by Hans Stuck and given the same model had been displayed at the Frankfurt Motor Show and used as a press car, when Elvis bought it second-hand in December 1958 for $3,750, BMW fitted a new engine.

Originally in white, Elvis repainted it in Porsche Red after getting tired of women writing their phone numbers on it in lipstick. It's unclear what happened immediately after Elvis bought the car, with some stories suggesting the army shipped it to him in the States after completing his tour. The car subsequently changed hands a couple of time before spending decades in a Californian warehouse. The car is now headed for the BMW Museum in Munich where it will be on show until August 10. The BMW Group Classic division will then bring the star-studded roadster back to life with a comprehensive restoration that will take two years to complete.