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VIDEO: Dream boat

What’s rarer than the elusive BMW 507 sports car? How about a 507 that floats?

The BMW 507 is a storied sports car. It was produced in the mid-1950s to fill the gap between the expensive Mercedes-Benz SL300 and period Triumph sports cars, but only 252 of the 507s were built.

Costs on the project ran over. The initial price tag for the roadster was pegged at $5,000, but even though the company took a loss on each sale, the 507 eventually cost more than $10,000. Sales were slow, and BMW was pushed to the brink of bankruptcy. Today, of course, the 507 is a rare and highly sought-after car — one model sold at auction for more than $1 million.

Rarer still is the 507 speedboat. Only one was built, and it disappeared for several decades. Felipe Garcia found it in a barn, where it had been moldering away for many years. The parts were all there, but it was a total wreck.

With the help of the Rambeck shipyard, which originally collaborated on the boat with BMW, Garcia brought the 507 boat back to life, and it is magnificent.

His next dream? To find a 507 car to perfectly complement his vessel.