As sales of its 1900 Saloon began to accelerate, Alfa Romeo, fresh off multiple recent world racing championships, had to decide whether it could continue to balance both its line of production cars along with its legendary racing division.

Conceived by the head of Alfa Romeo’s racing division, Gioacchino Colombo—the man who also designed the first Ferrari V-12 engine—the new C52 series was to be a radical experiment in applying aerodynamics to auto racing.

Many long days and nights were spent in the wind tunnel to develop the final result: a slippery, lenticular shape formed by Touring of Milan and quickly nicknamed “ Disco Volante ,” Italian for “Flying Saucer.” Five Disco Volantes were produced in a variety of configurations (three used a 2.0-liter four-cylinder, white two used a 3.5-liter six-cylinder).

Four exist today, and each is closely held in top museums around the globe, including two in Alfa Romeo’s own collection in Arese.

As the existing examples are unlikely to ever ...