The Aston Martin Red Dragon is expected to make around £1.6m-2m ($2.1m-2.6m) in Bonhams' Goodwood Revival auction on September 10.
The car, an Ulster racer, was designed and built in 1936 in order to compete with the BMW 328 at the gruelling Ards TT race in Northern Ireland.
 The Red Dragon is a famous Ulster racer |
While team driver Richard Seaman ultimately failed to secure a victory, it was later sold on to a Dutch owner who had more success with it - including a win at the 1937 Grand Prix de Frontieres race in Belgium.
After the second world war it was acquired by Dudley Folland, a Welsh amateur racing driver.
It's from Folland that the car got its name.
It features a red dragon, the Welsh national symbol, painted on its side.
John Polson, Bonhams motoring specialist, said: "Folland chose 'Red Dragon' because it was the most competitive British built car available in the early years after the war.
"It was the best British race car available, and Folland proved very competitive in it, finishing third in the Paris 12-hour race in Montlhery in 1948, and holding 2nd in the Spa 24-hours before crashing dramatically very near the finish."
The sale will also include a Jaguar XK150S, which carries an estimate of £220,000-280,000 ($291,698-371,252).
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