The electron transport and longitudinal and transverse magnetoresistance (MR) of glass-insulated Bi0.92Sb0.08 single-crystal wires with diameters of 180 nm to 2.2 μm and the (1011) orientation along the wire axis have been studied. The wires have been prepared by liquid-phase casting. It has been first found that the energy gap ΔE increases by a factor of 4 with a decrease in wire diameter d due to the manifestation of the quantum size effect, which can occur under conditions of a linear energy–momentum dispersion law characteristic of both the gapless state and the surface states in topological insulators (TIs). It has been revealed that, in strong magnetic fields at low temperatures, a semiconductor–semimetal transition occurs, which is evident as an anomalous decrease in the transverse MR anisotropy and the appearance of a metallic temperature dependence of resistance at T < 100 K. It has been found that the effect of negative MR, the appearance of an anomalous maximum in the longitudinal MR, and the dependence of Hmax ~ d-1 at 4.2 K is a manifestation of the classical MacDonald–Chambers size effect. The calculated value of the component of the Fermi momentum perpendicular to the magnetic induction vector H is 2 times higher than the value for pure bismuth wires. The features of the manifestation of the quantum size effect in Bi0.92Sb0.08 wires, semiconductor–semimetal electronic transitions induced by a magnetic field, and a decrease in the transverse MR anisotropy indicate the occurrence of new effects in low-dimensional structures based on semiconductor wire TIs, which require new scientific approaches and applications.