One of Ferrari’s oldest racecars in history poised to fetch €7.5M

A 1948 Ferrari 166 Spyder Corsa said to be one of the Italian automaker’s oldest racecars to belong to private drivers will cross the auction block soon, expected to win between €5.5 and €7.5 million.

The 166 was Ferrari’s third model ever made and arguably the first one in the “street-legal racecar” genre. This particular Spyder was purchased by Lombardian F1 racer Soave Besana and shipped with a body coachbuilt by Ansaloni.

The number 166 refers to the volume of each engine cylinder in cubic centimeters. It is a V12 unit designed by Gioacchino Colombo. Originally designed with 1.5 liters of total displacement – 125cc per cylinder – the block was overhauled for the model 166, so it had nearly two liters to work with in total.

Besana took part in multiple racing events in Italy with his car, including the legendary Targa Florio and Mille Miglia series. He failed to score any victories and sold it in 1949. The car then proceeded to crop up at various races until 1957.

A family that purchased it in 1965 kept it until 2015. It was then sold into the hands of one of the biggest Ferrari collectors in the United States. Their name is being kept secret by the auction house, but the listing emphasizes that the car is still highly authentic despite its age. It comes with a Ferrari Classiche certificate that says that the engine, the bodywork, the engine and the five-speed manual transmission are all original. It’s also the first time this 166 Spyder Corsa is being sold at a public auction: all previous transactions were private.