*One of approximately 540 made *Delivered new in Germany *Restored in 2014/2015 *Spanish registered BMW recommenced car production in 1952 with the introduction of the upmarket 501 saloon, a strange choice for an impoverished country still recovering from the ravages of war.

The 501 had been announced in 1951 and first appeared with a development of the company's famous six-cylinder engine of pre-war days, gaining a much needed performance boost, in the form of a 2.6-litre overhead-valve V8, in 1954.

Subsequently enlarged to 3,168cc, this advanced all-aluminium unit was used to power the successor 502 saloon, the 503 coupé/cabriolet and the legendary Albrecht Goertz-designed 507 sports car.

While the latter is universally recognised as an all-time classic, Goertz's 503 looks ponderous in comparison, although with 140bhp on tap it was certainly no slouch, boasting a top speed of 180km/h.

With BMW redirecting its efforts towards the medium-size market sector, on which its future pros...