Guggenheim to auction BMW M1 art car

The Guggenheim Museum in New York is selling an original BMW M1 art car to raise funds and to make way for other exhibits.

Frank Stella painted the Bavarian supercar in 1979, and it has been part of the Guggenheim collection since 1999.

BMW has commissioned many art cars since the program launched in 1975, including another M1 by Andy Warhol and a 3.0 CSL also by Stella. However, this is the only one the German automaker has sanctioned for a private client, as the others remained in BMW's private collection.

Bonhams will auction the car in August at the Quail Lodge in Carmel, Calif., and it is expected to sell for at least half a million dollars.

In the meantime, the car is on display outside Bonhams's offices in New York. If you want to catch a glimpse, go to the atrium of the IBM Building at 56th Street and Madison Avenue.

By Michelle Koueiter