She's beautiful, sleek and curvaceous; there was nothing quite like the BMW 327 Cabriolet car built in Germany in 1939.

Only 369 such models were manufactured that year and what is thought to be the only one in Australia has just been restored by Albury coachbuilder Mr. Karl Richardson.

A collector from the Southern Highlands took possession of the vehicle this week after Mr. Richardson's workshops had been restoring it off and on for five years.

Mr. Richardson said he believed the collector had brought it from Europe in the 1990s, but some of the parts had rusted and it needed a full restoration job.

The 327 Cabriolet, designed by Peter Schimanowski, was ahead of its time with its elegant two-tone paintwork, a rank-and-pinion front end, twin carburettors, a 55-horsepower engine and top speed of 125kmh.

Mr. Richardson said the restored vehicle was almost all original except for the soft top, some minor items and where rusted parts had been repaired.

Mr. Richardson would not put a value on it but said for someone to import a similar vehicle in top condition might cost up to $200,000 (Australian dollars) if such a rare vehicle could be found.