This rare BMW roadster with bids over $1.5 million may become the most expensive car ever sold on auction site Bring a Trailer

1957 BMW 507.Bring a Trailer

• Around 250 BMW 507s were built in the late 1950s, and now one of them is poised to rake in millions at auction.
• With the bidding already at $1.6 million, a stunning 1957 BMW 507 is on its way to becoming the most expensive car ever sold on auction site Bring a Trailer — but it'll need to meet reserve for that to happen.
• The pandemic has fueled a boom in online car auctions through companies like Bring a Trailer, RM Sotheby's, and Hemmings Auctions.

While the auto industry as a whole has taken a beating this year, car auctions are thriving. And popular auction site Bring a Trailer may broker its biggest sale ever come Monday.

The bidding on a stunning 1957 BMW 507 has already hit $1.6 million as of this writing, and that figure may keep climbing before the auction's end on December 7. To date, the priciest car ever sold on Bring a Trailer was a 1956 Mercedes-Benz 300SL Gullwing that brought in $1,234,567 last summer.

Read more: Online car auctions have seen a pandemic boom, partly because buyers want to move money into alternative assets

The potential record-setting sale comes as online car auctions experience a pandemic-fueled boom in interest. Economic uncertainty has led some to invest in concrete assets like classic cars, and as people spend less money on travel, some enthusiasts now have more money to play around with, representatives from Hemmings Auctions and Bring a Trailer told Business Insider.

Take a closer look at the exceptionally rare BMW up for auction below: