Unique 1950s Ferrari known as 'The Egg' to be sold for first time in 30 years – and could fetch £4 million

Visionary Italian auto designed by sculptor Franco Reggiani and coachbuilder Carrozzeria Fontana now up for sale at Sotheby's

1950 Ferrari 166 MM Uovo (RM Sotheby's)

The unique 67-year-old Ferrari 166MM/212 Export “Uovo” – Italian for egg – is predicted to sell for £4 million at an auction in Monterey, California, this August. Its current owner bought the Ferrari model in 1987, meaning this is the first time in 30 years the car will be up for grabs.

Sculptor Franco Reggiani and coachbuilder Carrozzeria Fontana are the visionaries behind the car, who were hired by the famous Italian driver Giannino Marzotto to make this vehicle a reality. “The Egg” was created to be raced in competitions, explaining its light and aerodynamic design. It is roughly 330 pounds lighter than modern Ferraris.

What made “The Egg” stand out against its rivals was its larger fuel tank, giving it a significant advantage by being able to drive for more than 300 miles between stops.

Before the current owner purchased “The Egg”, it was owned by a collector in Los Angeles. Prior to this, “The Egg” resided in Mexico for a short period of time.

In 1951, “The Egg” boasted an impressive lead of 12 miles at the Giro di Sicilia when disaster struck and it was forced to retire because of a damaged differential. The car is not perfectly designed, as the hood had to be raised 15cm to install a larger radiator than originally planned. However, at the Coppa Toscana later that year, “The Egg” achieved its breakthrough victory.

“The Egg” is hailed as “one of the most famous Ferraris ever built”, Marcel Massini told the Sun. It was displayed at Ferrari’s 50th anniversary in 1997, but since then “The Egg” has only been spotted a few times.

Auctioneers RM Sotheby’s stated: “As it has never been shown at any concourse event, it would surely be welcome at the most exclusive concourse around the globe, where it would be a clear highlight and award contender for its unique design and incredible history.

“The Uovo is, without doubt, the living expression of one of the greatest personalities of the Italian early fifties racing world”, they told the paper.

Top Gear estimates “The Egg” will be sold for £4.4 million ($5.5 million). It is a steal compared to the 1962 Ferrari 250 GTO, currently priced at £25.1 million.