It was the Tipo 166, introduced in 1948 as a replacement for the 125 S, that first established Enzo Ferrari’s Modenese workshop as a leading manufacturer of racing cars. Powered by a 2-liter, Colombo-designed V12 engine, the 166 set forward a course of development that would define the look, sound and inimitable character of Ferrari automobiles for years to come.
While the earliest 166 Sports and Spider Corsas were raced with success, the 166 Mille Miglia — or MM — completely dominated sports-car racing during the late 1940s and early 1950s. In fact, the Ferrari 166 MM is the only car to win all three of the great European sports-car races in the post-war era — the 24 Hours of Le Mans, the Targa Florio and the Mille Miglia. Between 1949 and 1951, Ferrari built approximately 33 examples of the 166 MM, the majority bodied by Carrozzeria Touring with Barchetta or Le Mans Berlinetta coachwork.
In 1953, Ferrari built a limited series of 13 chassis called the 166 MM/53. Intended for private customers to enter in the popular under-2-liter class, these cars featured various improvements to the original 166 MM chassis and running gear. The 2-liter, 12-cylinder engine, which benefited from upgraded roller-cam followers and three four-choke Weber carburetors, now produced as much as 160 horsepower, a gain of 10–20 over the original 166 MM.
Presented here is a fascinating example of this rare Ferrari competition model, which raced throughout Europe during its earliest years and has been treasured by its current enthusiast owner since 1960.
SCM Analysis
Detailing
| Vehicle: | 1953 Ferrari 166 MM/53 Spider |
| Years Produced: | 1953 |
| Number Produced: | 10 (Spiders) |
| Chassis Number Location: | Left frame rail |
| Engine Number Location: | Right rear of block |
| Club Info: | Ferrari Owners Club |
| Website: | http://www.ferrariownersclub.org |
| Alternatives: | 1953 Maserati A6GCS, 1952–54 Siata 208S, 1953–56 Frazer Nash LM |
This car, Lot 16, sold for $3,208,969 (£2,531,250), including buyer’s premium, at Gooding & Company’s London, U.K., auction on September 1, 2023.
All racing Ferraris are collectible and relatively valuable, but the degree varies immensely depending on a well-defined set of factors. Historical importance, generation, rarity, speed, beauty, usability and just plain fun are among the primary considerations. I have discussed elsewhere that it is useful to consider that there are four generations of sports-racing Ferraris, with the most desirable being the third generation of Testa Rossas and GTOs. Last month we explored the high level of the fourth generation in the 1967 412P. Today we discuss the bottom tier of the first generation, the 166MM Series II.
A significant machine
Nobody questions the importance of the 166 MM to Ferrari’s history. It was the first real car Ferrari built, the first serious cars to race under Ferrari’s name and the first to win important international races. Note that I have not said that they were particularly good or fast — they weren’t. In the late 1940s, the competitive bar was pretty low, and they were simply better than the others.
This is a good time to get perspective on the first generation of Ferrari racers. Everybody starts somewhere, and though Enzo was no stranger to racing, his technical and financial means were limited in the early days. Being firmly of the opinion that “horsepower wins races,” he spent most of his resources on the engine: a Gioacchino Colombo-designed SOHC V12.
Chassis and suspension design was subbed to a different Colombo (Gilberto, doing business as Gilco) and was relatively crude. It featured an oval-tube ladder chassis with unequal length A-arms, using a transverse leaf spring and lever shocks in front and a live axle in back.
Body design and construction was mostly handed off to specialists. This basic layout continued with minor evolution through the entirety of the first-generation cars. The engines got huge and powerful, but the chassis and suspension remained simple, not even close to the sophistication of Maserati’s A6GCS or Jaguar’s C-type.
The first-generation racers had horsepower, though, and were fearsomely effective at using it. With the 340 (later 375) Lampredi-designed engines introduced in 1950 pushing out 300 hp, Ferrari simply muscled its way to the top in international racing. These cars are hugely important in the history of Ferrari, setting the tone and expectation for everything that came later.
Candidly, though, they are not much fun to drive. Designed for scrawny little Italians, fitting in them can be a problem for American-sized people. The handling and brakes are mediocre even by contemporary standards. Further, they are hot, noisy, and ride like trucks. If you are seriously racing, they have a habit of quitting right at the apex of corners (more on this later). That said, the adrenaline rush that comes from dropping the hammer on a big V12 easily compensates for all manner of discomfiture, particularly in the open cars. The closed racers, like Mexicos, are simply terrible.
Better off stationary?
With that as perspective, let’s talk about our subject car, the Series II 166 MM. The original 166 MMs were the first and thus important, but the Series II cars, not so much. The factory was fielding 375s by 1953; these 166s were built to sell to privateers playing in the under-2-liter class. Thus, none of them have any factory history. While they were raced heavily, that was in local and regional events, not the big leagues.
A sister car made it to the U.S., where it starred in the Kirk Douglas film “The Racers” before ending up with Pete Lovely in West Coast racing. The problem is that as a 2-liter, it has all the shortcomings of the first-generation cars without the corresponding horsepower rush. A Toyota Sienna minivan has more power (though admittedly not the sex appeal).
There are some running issues as well. It carries literally the same carburetors (Weber 36 IF4C 4-barrel) as a 4.5-liter 375 MM, so it is wildly over-carbureted. Pete Lovely mentioned needing to be very careful with acceleration in his. These Webers are great in a straight line but notorious for going lean in corners, when you most need dependable power, and thus limit driving joy. By 1955, they were replaced by better designs.
On the other hand, the 166 Series II Vignale bodywork is just flat gorgeous, and even if it isn’t making much horsepower, the V12 wail is glorious. It has one of Ferrari’s earliest 5-speed transmissions, so an additional gear is available to keep things moving. It’s also a substantially smaller, lighter car than its bigger brothers, and a bit easier to toss around if you are so inclined.
A lot of the value decisions have to do with what someone is looking for when they buy. Face it: Nobody is buying a car like this as a regular driver, or even a frequent one. Every serious racing-car collection in the world needs at least one first-gen Ferrari to anchor things, and virtually all do. None of these cars get used much, though they are welcome at any event anywhere in the world. Instead, their job is to look glorious and represent an important early phase of post-war racing, not to be a fun or rewarding driving experience. At the former, they are great. For the latter, buy a later car.
Buy to collect
With a few exceptions related to great history, first-generation Ferrari racers carry value that correlates directly with their horsepower. A 375 is worth more than a 340, etc. This leaves the 166 MM at the bottom of the stack, by definition, but it is still a highly collectible car. The Vignale Spiders like this one are particularly handsome, and unless you know what to look for (the third porthole on the fender) are the spitting image of their fire-breathing, world-conquering brethren. They are a worthy addition to any serious collection and only occasionally come up for sale; they just don’t carry as much value.
Today’s 166 MM Series II needs to be understood for what it is: gorgeous, collectible and usable, but not at all fast nor a ton of fun to drive. It is competitive if you could find a grid with a Maserati A6GCS, Siata 208 and Frazer Nash, but it’s a back-marker everywhere else. As a low-value example of a highly desirable category of car, it is a safe investment longer term. All in all, an excellent purchase for the right person. Fairly bought and sold. ♦
(Introductory description courtesy of Gooding & Company.)
