Had the world forgotten about this incredible Ferrari stash? In August 2004 Hurricane Charley ripped through Florida and among its casualties was a barn near Kissimmee. A cascade of beams and debris rained down on the sleeping collection, which was badly damaged with some caved-in roofs and shattered windshields. These Ferraris were, literally, exposed to the world, and briefly made headlines amid the hurricane coverage, but soon they disappeared again.
The Ferraris were assembled and owned by a Florida real-estate developer named Walter Medlin, who in the 1990s ran into some trouble with the Internal Revenue Service. The IRS seized three of the cars for non-payment: a relatively nondescript 1976 308 GTB, but also some very historic racers, a 1966 P3 and a 1967 P4. The collection has fluctuated over time: Circa 1978, it was said to have contained a 250 GTO and a 250 GT California Roadster.
The collection was still fabulous, give or take a few Ferraris, when the roof collapsed in 2004. The remaining 20 cars, still showing their hurricane damage, are to be auctioned separately, without reserve on Aug. 17 by RM Sotheby’s during Car Week in Monterey, California. Thatcher Keast, an RM Sotheby’s car specialist, said in an interview that he expects the Italian exotics to bring $15 million. Sotheby’s confirmed the GTO was long ago sold.
“The collection has been in Indiana for a decade, across the street from the Indianapolis Motor Speedway,” Keast said. “They’re still covered in dust, sitting on flat tires and not running, basically as they were when the barn collapsed on them.” Sotheby’s, in fact, plans to recreate the collapsed barn in Monterey, displaying the cars in an “as found” diorama—complete with fallen beams.
“This is the mother lode of barn finds,” said Tom Cotter, host of Barn Find Hunter and the author of numerous books on the art of classic car re-discovery. “I don’t see how you could ever again assemble another collection like this on the face of the planet. It’s what dreams are made of, and the reason why I keep opening doors and finding rusty Corvairs and Renaults.”
Bill Warner, founder of the Amelia Island Concours d’Elegance, told Autoweek he visited the collection various times when it was still in Florida, and he remembers the cars sitting on dirt floors amid pigeon droppings. He describes Medlin as “pleasant but very private.” Warner adds, “I told him he should move the cars to a better building, because this one might blow down in a hurricane—which it did.”
There’s no holy grail GTO in the collection now, but it’s not lacking for spectacular cars. The Ferrari likely to bring the highest bids, according to Keast, is a 1966 275 GTB by Scaglietti that was at the Turin Motor Show. It was also driven in the 1966 Targa Florio with Luciano Conti (publisher of Italy’s Autosprintmagazine) driving, along with co-pilot Vittorio Venturi.
The “long-nose” 275 GTB was the first to be outfitted with both six carburetors and a lightweight alloy body. Although certainly a bit rough, Keast said it did not sustain significant collapse damage and is one of the better-preserved cars in the collection.
Also highly notable is a 1956 250 GT Coupe Special by Pinin Farina with Superamerica-style bodywork. The first owner was King Mohammed V of Morocco. The paint is very weathered, but traces of its two-tone scheme—Celeste with a Nero roof—are still visible. The V-12 is numbers matching.
The 1954 Ferrari 500 Mondial by Pinin Farina is basically a very battered and stripped body. But some parts, including a transmission, rear end, and two axles come with it, as well as an engine that may or may not be original to the car—research is ongoing. Its original pilot was ex-Scuderia Ferrari driver Franco Cortese. He and a co-driver achieved fourth in class and 14th overall at the 1954 Mille Miglia. The car was then rebodied by Scaglietti and raced again, including at the 1956 Targa Florio.
The 512 BB Competizione was one of three prepared to run in the 1978 24 Hours of Le Mans. It was entered by Luigi Chinetti Sr.’s North American Racing Team (NART), driven by Jacques Guérin, Jean-Pierre Delauney, and Gregg Young. It retired after 19 hours and 232 laps. “It still wears all the livery from that race,” Keast said.
With that 308 gone in the IRS seizure, there are few run-of-the-mill Ferraris left in the collection. The full lineup of cars, dubbed the Lost & Found Collection:
- 1978 Ferrari 512 BB Competitzione
- 1966 Ferrari 275 GTB by Scaglietti
- 1956 Ferrari 250 GT Coupe Speciale by Pinin Farina
- 1956 Ferrari 410 Superamerica Coupe Series I by Pinin Farina
- 1967 330 GTS by Pininfarina
- 1954 Ferrari 500 Mondial Spider by Pinin Farina
- 1965 Ferrari 275 GTS by Pininfarina
- 1964 Ferrari 250 GT/L Berlinetta Lusso by Scaglietti
- 1971 Ferrari 365 GTB/4 Daytona Berlinetta by Scaglietti
- 1972 Ferrari 365 GTB/4 Daytona Berlinetta by Scaglietti
- 1968 Ferrari Dino 206 GT by Scaglietti
- 1960 Ferrari 250 GT Coupe Series II by Pinin Farina
- 1972 365 GTC/4 by Pininfarina
- 1966 Ferrari 330 GT 2+2 Series II by Pininfarina
- 1976 Ferrari 308 GTB ‘Vetroresina’ by Scaglietti
- 1969 Ferrari 365 GT 2+2 by Pininfarina
- 1965 Ferrari 330 GT 2+2 Series I by Pininfarina
- 1980 Ferrari 512 BB
- 1991 Ferrari Testarossa
- 1977 Ferrari 400 Automatic
Jim Motavalli is an auto writer and author (nine books) who contributes to Autoweek and Barron’s Penta. He has written two books on electric cars, Forward Drive (2000) and High Voltage (2010), and hosts the Plugging In podcast.
Motavalli’s writing has appeared in the New York Times, CBS Moneywatch, Car Talk at NPR, Forbes, US News and World Report, Sierra Magazine, Audubon, and many more. In his spare time, he reviews books and jazz.
