This model was specially made for the 1958 edition of the Race of the World. A modified 246 featuring a Ferrari-built Dino V6 engine, enlarged to 3,210 cubic centimetres (196 cu in) and equally renamed the 326 MI,

A second was built by Ferrari, also for the 1958 edition, It was an older 375 F1 chassis using a modified 4,023 cubic centimetres (245.5 cu in) V12 engine from 335 S sports car, and renamed the 412 MI. .which is also part of this collection 1/18

The race had 3 heats. The Ferrari 326 MI (14) driven by Phill Hill abandoned in the first het.

Ferrari 412 MI finished third overall

 

The Race of Two Worlds, also known as the 500 Miglia di Monza (500 Miles of Monza), was an automobile race held at the Autodromo Nazionale Monza, Italy in 1957 and again in 1958. It was intended as an exhibition event, allowing American teams from the United States Auto Club (USAC) National Championship to compete directly against teams from the Formula One World Championship based in Europe. The two types of cars competed on the banked oval at Monza which had been completed in 1955. Due to the similarity to the Indianapolis Motor Speedway, where the USAC teams ran the Indianapolis 500, the event earned the nickname Monzanapolis.

 American drivers and teams won the event in both the years in which it was run. Jimmy Bryan won the 1957 event, while Jim Rathmann swept the 1958 race. Although some Formula One teams did participate in 1958 and even built special cars specifically for the event, several withdrew over safety concerns. Continued concern over the speeds on the track and the cost of the event led to the race being canceled after the 1958 running. None of the known F1 team joined the event in 1957, so it was aall about American cars.

With two heat wins, and being the only driver to complete all 189 laps, Jimmy Bryan was declared the winner in front of a crowd of 20,000. For his victory, he won US$35,000 in prize money, as well as a unique trophy created for the event. Bryan averaged 257 km/h (160 mph) over the full race distance, making it the fastest race in history, while Tony Bettenhausen also earned a world record by recording a lap speed of 284.561 km/h (176.818 mph) breaking a closed circuit speed record.

 

In 1958, weveral Formula One teams, impressed by the speeds achieved by the USAC teams but also enticed by the large prize sum, promised to attend the event. Ferrari, initially reluctant, entered their own team after the Automobile Club of Italy announced that the Race of Two Worlds was a required event for teams vying for club's cash award for most successful Italian constructor. Maserati also built a custom car, their only entry in the event. Based on the design of USAC's cars, the car (designated the 420M/58) featured an alcohol-fueled V8 engine which was placed off-center to counteract centripetal force of running on an oval. Learning from their problems the previous year, the car was specifically designed to use the larger Firestone tyres. A two-speed gearbox was also used. The Italian Eldorado Ice Cream Company helped fund the effort and so the entire car was painted white with their logo written across the side. Jaguar also had a custom-built car entered, thanks to Lister Cars. A Lister sports car chassis was purchased by the team, modified into a single-seater body style, and fitted with a Jaguar Straight-6 engine from the D-Type. The bodywork was aluminium, and remained unpainted for the event, giving it a near mirror finish. Dunlop tyres remained on the front, but the rear was adapted to handle the larger Firestone tyres.  Luigi Musso recorded the fastest time for the European entries, with a 55.3 second lap in a 412 MI. Qualifying continued again on Saturday, with the Americans quickly jumping to the top of the time charts. Bob Veith recorded a 54.0 second lap at a speed of 283 km/h (176 mph), however qualifying was determined by an average of three laps. Musso was able to improve on his previous day's performance in the Ferrari and recorded an average speed of 280.8 km/h (174.5 mph) to earn pole position. 

Sunday was race day, the Ferrari 326 MI (14) driven by Phill Hill abandoned in teh first het. Ferrari 412 MI finished third overall

Jim Rathmann, winning all three heats, was declared the race winner, although Jimmy Bryan had finished only a minute and a half behind Rathmann on aggregate time. Rathmann averaged a speed of 268.367 km/h (166.756 mph) over the 500 miles. Several thousand more spectators attending the 1958 running of the event than had attended the previous year.

Although the Race of Two Worlds attracted several European teams over its two years, the Automobile Club of Milan was unable to make a profit on the event. Unable to agree on funding a third running, the Club did not organize a Race of Two Worlds for 1959 and the event never returned. The banked oval at Monza remained part of the full Formula One circuit until 1961, and ceased to be used for any motorsports activities in 1969. It has since been abandoned and left to decay, and at times threatened with demolition.