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Part of the 02 Series, this 1600 Cabriolet is a rare piece as it's one of just 1,672 units made by BMW between 1967 and 1971.

Silverstone Auctions estimates that when it will arrive at the NEC Classic Motor Show Sale that takes place on November 11 and 12, it will sell for £50,000-£60,000 ($65,933-$79,120), plus a buyer's premium of 15 percent, tax included.

Doing some simple math reveals that this kind of money could land you a new BMW M3, which starts at £58,580 ($77,247) in the United Kingdom, a fully-loaded 5-Series, and even a 7-Series flagship saloon, as the latter carries a £61,300 ($80,834) starting price.

Before debating on whether a new Bimmer is better than a classic one, the auction house speculates that this example is believed to have been ordered by Pierre Cardin originally. However, there's no solid proof that the fashion designer was one of the owners, but in 1983, the car was shipped to Los Angeles, where it remained until 1994, when a collector brought it to the UK, and had it fully restored.

During the process, the original M10 1,573cc four-cylinder engine was taken care of, and so did the four-speed transmission. Additionally, in the hands of its owner, it has only covered 15,500km (9,600 miles).

Moreover, this BMW 1600 Cabriolet is believed to be the only road-going example of its kind in the United Kingdom, so does it still sound insanely expensive?

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