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Classic Porsches are increasing in value as rapidly as they pick up pace. Most don't approach the levels you'd expect of, say, a classic Ferrari – but this one likely will.

It's a 1958 Porsche 550A Spyder – one of just 40 made, and it has quite a race history.

Nicknamed the “giant killer” because of its small size, engine, and penchant for hunting down much bigger and more powerful machinery, the 550A (like the preceding 550 immortalized by James Dean) packed a tiny 1.5-liter boxer four engine.

Chassis number 0145 pictured here placed second in its class (fifth overall) at Le Mans and took class victories at the Nürburgring, Reims, Zandvoort, and the Dutch Grand Prix – believed to be the only 550A to compete in a grand prix race.

It's now consigned for Bonhams' upcoming auction in Scottsdale, Arizona, slated for this coming January. The auctioneer isn't saying how much it expects this most desirable of Porsches to sell for, but 550s like this one have been known to fetch millions. And given this one's pedigree, we wouldn't expect any less.

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