BMW'S 1 Series Convertible, a model for which its most direct luxury brand rival has no answer, not only represents the first compact premium drop-top from the German maker in more than 30 years, but a rare opportunity to attract a totally new type of buyer to the BMW fold. Priced from $52,900, it undercuts the least expensive 1 Series Coupe upon which it is based, as well as being much cheaper than BMW's own two-seater Z4 roadster and the latest 3 Series Convertible, which has grown over previous generations and now features a folding hard-top roof. Despite being the only rear-drive convertible in its class, the 1 Series Convertible also matches Audi's upcoming A3 Cabriolet for entry-level pricing, when standard equipment is accounted for.