One of the rarest and most original early Ferrari models ever is coming to auction and, as you might expect, is likely to go for an absolutely enormous sum of money.
Broad Arrow Auctions (a division of global car auction giant Hagerty) will be offering a 1948 Ferrari 166 Spyder Corsa with Coachwork by Carrozzeria Ansaloniat its Concorso d’Eleganza Villa d’Este Auction, at Lake Como, Italy, in May.
Ferrari only built nine examples of the 166 SC between 1948 and 1953.Never before offered for public sale, the 166 SC has a sales estimate of between €5,500000 (NZ$10 million)and €7,500,000 (NZ$14 million) and is one of two examples purchased by the Besana brothers, Ferrari’s earliest customers.
Soave and Gabriele Besana brotherswere arguably the ideal first Ferrari customers - aristocratic and wealthy from their family's confectionary concern, the two brothers were enthusiastic participants in theinternational post-war racing scene, each purchasing a Ferrari 166 Spyder Corsa for the 1948 racing season.
The dual-use Spyder Corsas they purchased (chassis number 004 C for Soave and 002 C for Gabriele) featured Carrozzeria Ansaloni bodywork with motorcycle-type mudguard fenders and simple forward lighting for sports car races with the ability to remove them for Formula Two competition.
While Gabriele acquired 166 SC chassis number 002 C and immediately sent it to South America to compete in the Temporada races, Soave's Spyder Corsa, chassis number 004 C, was prepared during this time with dynamometer testing on 12 February 1948 and delivery on 17 March of that year, just in time to start the Italian racing season.
Soave Besana and chassis 004 C are on record as entering and finishing 6th in the 1948 Targa Florio, although there is a question mark on that, as some believe that while 004 C was on the island of Sicily that spring, it did not compete, and Besana was co-driving in Bruno Sterzi's 166 SC.
Buoyed by his successful 6th place finish in the Targa, and his brother's return from South America, Soave entered 004 C in the legendary Mille Miglia in 1948 and 1949, as well as a period Formula Two competition and hill climbs.
Following this it was sold to and Italian company, S.r.l E. Vallarani & Co. based in Milan, which owned it until 1957 when 004 C was sold to Gaston Garino owner of the Sport Auto garage just outside of Paris.
According to an article on the car in 2006, “Garino only drove the Ferrari around the block; then it sat in the back of a garage” until it was sold to American Stan Nowak who immediately sold it on to Henry Austin Clark on the 23rd of July 1965 for $3,800 with a combined invoice for the car and restoration costs, cheekily adding an additional $500 to the price as the “World's Oldest Ferrari.”
Once the restoration was complete, 004 C became the oldest vintage Ferrari to be shown at a concours competition, and it is said that even Enzo Ferrari himself took a personal interest in the car and its restoration.
In 1971 Clark received an offer for the car: $25,000, a few dollars more than a new 365 GTB/4 Daytona Coupe at the time, but he declined, and 004 C’s ownership was transferred to his son James H. Clark in February 1973.
After just over a half-century with the Clark family, 004 C joined one of the United States' most revered Ferrari collections in 2015 before being offered for public sale for the first time ever this May.
Complete with Ferrari Classiche White Book certification with its original body, chassis, 2.0-litre V12 engine, and five-speed racing gearbox, 004 C has received numerous awards, including a 2004 Pebble Beach Concours d’Elegance class award, and a Best of Show at the 2003 FCA National Meet, in addition to being displayed at Pebble Beach within Casa Ferrari in 2019 and 2022.
“The 1948 Ferrari 166, with chassis 004 C, that we have the pleasure of presenting at our inaugural Concorso d’Eleganza Villa d’Este auction in May is undoubtedly one of the most significant examples of any early Ferrari built,” said Barney Ruprecht, VP of Auctions for Broad Arrow.
“With its outstanding provenance and long, well-documented history, we could not think of a more fitting and appropriate example to highlight our first Italian auction. Chassis no. 004 C’s existence aptly represents the very building blocks of the legendary Ferrari brand and stands the test of time as a watershed example for the marque.”
The auction will take place the weekend of 23-25 May 2025 at the Concorso d'Eleganza Villa d'Este, on the shores of Lake Como at Villa Erba, Italy. Actual timing will be announced closer to the event.
