The Porsche 550 is a racing sports car produced by Porsche from 1953 until 1956. In that time only 90 Porsche 550s were produced, and they quickly established dominance in the 1.1- and 1.5- liter classes. The Porsche 550 is a mid-engine car with an air-cooled four-cylinder engine, following the precedent of the 1948 Porsche 356/1 prototype designed by Ferry Porsche. The mid-engine racing design was further developed with Porsche's 718 model; its advantages led to it becoming the dominant design for top-level racing cars by the mid-1960s. The Porsche 550 has a solid racing history; the first race it entered, the Nurburgring Eifel Race in May 1953, it won. The 550 spyder usually finished in the top three in its class. Each spyder was designed and customized to be raced. A 1958 Porsche 550A spyder sold at auction in 2018 by Bonhams for $5,170,000 (£4,115,763) - the highest price for a 550 at auction.