There are some very good reasons for the astronomical asking price.
It's the end of an era. After 70 years, VW recently confirmed the iconic Beetle will be ending production with no plans for a successor. To give the beloved Beetle a send-off, the automaker will release two special Final Edition models. Inevitably, prices for the Beetle on the used market are likely to soar, but we never thought we would see one command $1 million. That's how much someone is asking for to own this vintage 1964 example listed on Hemmings. There are, however, several factors that justify the asking price. According to the sales listing, this might be "the most original Beetle on the planet," making it hugely desirable to collectors.
The black Beetle was bought brand new back in 1964 by Rudy Zvarich as a backup to his 1957 Beetle. It was never put to service, however, and has only been driven 23 miles in its entire life. The odometer in the photos show 22 miles on the clock but the listing explains how the car racked up an extra mile when it was pulled out of storage. After Zvarich left the car in a friend's storage space for two years, he moved it to his own building where it sat unused from 1966 to 2016 with all the fluids drained and a sheet over the exterior to keep it devoid of dust.
The car has since been restored to running condition while retaining its originality. Amazingly, every part is still original, making this Beetle a time capsule back to 1964. The windshield wipers and hubcaps have never been attached and are still in original boxes from the dealership. If the black paint looks dusty, that's because the car has never been washed. Inside, the "Leatherette Red" interior looks brand new and the original dealer window sticker is still in place from 1964. Whether or not this makes this Beetle worth $1 million is up for debate, but there's no denying that this is a rare opportunity to own an all-original example of one of the most iconic cars in history.