Description:

To be offered by Iconic Auctioneers on Friday 23rd August at the Silverstone Festival Sale. 

Guide Price: £120,000 - £140,000

Named after its founder, Vincenzo 'Enzo' Osella, the team began life by racing Abarth sports cars in local and national races in the mid-1960s in Italy. Though relatively successful (Osella eventually took over the factory Abarth sports car program), Osella expanded into single-seater racing in 1974 to further develop his business. The team would rise to Formula 2 in 1975, achieving some success with its own car (the Osella FA2); Francois Migault scored one point. They also competed in sports car racing building some of the most competitive and prettiest 2-litre cars ever produced.

The Osella PA3 BMW M12 offered here was purchased by Colin Pool, who was responsible for nearly all the Osellas in the country, from Francesco Molina of Pescaro in the early 1990s. Like many Osellas of the period, it was used initially for hill climbing but we’re informed that it did compete in the 1976 4 Hours of Monza, finishing 11th overall.

Chassis PA029 resided with him until 2011 when it was purchased by the previous owner, who set about a comprehensive rebuild. It was decided to commission a new tub which was built by Martin Slater of Lyncar and a new replacement engine was purchased from Wassermann. Every other component was either rebuilt or replaced during the type of exacting rebuild that's required for a race-winning car. The process took nearly two years, with its first outing at Brands Hatch (2011 HSCC MARTINI). When running a very respectable fourth, fuel pressure problems halted any further progress. In 2013 two races were entered at Donington, producing a win and the chance of another while leading, until loose bodywork prevented a double. In 2014, four races were entered in the HSCC MARTINI and it won all four. The highly respected Ian Flux proclaimed this Osella was the best 2-litre sports car he had ever driven!

The current owner acquired the PA3 from our auction at Silverstone in 2015 and has enjoyed campaigning it successfully ever since. TT Motors have looked after the car for him during his ownership and have maintained it regardless of cost. Indeed, the BMW M12 engine was rebuilt recently with only around 200 miles completed since out of its 1,000 mile life. The FIA papers run out at the end of this year.

Last raced at the Silverstone Festival 2023 with an impressive lap time of 2:05.9 this rare, special and very fast car offers access into some of the best historic motorsport available.

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