A massive collection of 20 historic Ferraris hidden in a barn for decades is heading to auction and can fetch in excess of $50 million

A jaw-dropping barn find of 20 historically-important Ferraris has been found sitting “untouched for decades” in storage not too far from the Indianapolis Motor Speedway. The collection consists of some of the rarest and most storied cars ever to wear the Prancing Horse logo dating from 1954 to 1991, including a 1956 250 GT which was once owned by King Mohamed V of Morocco, and several crucial Ferrari race cars that took part in the world’s most famous races, such as Le Mans, the Targa Florio, and the Mille Miglia. This incredible collection is now headed to the RM Sotheby’s auction during the 2023 Monterey Car Week in August.

According to the auction house, the collection of 20 classic Ferraris was originally owned by Walter Medlin, a successful real estate agent who had a run-in with the Internal Revenue Service (IRS) in the 1990s. The gorgeous Ferraris have practically spent the last three-plus decades completely hidden away from view. The only time they came out of hiding was in 2004 when Hurricane Charley collapsed the roof of the Florida barn they were housed for more than a decade. The entire collection was recused and relocated to a warehouse in Indiana near the Indianapolis Motor Speedway, where they remained untouched for almost 20 more years.

Also read -  This completely destroyed and rusted shell of a rare Ferrari race car was sold for the price of 23 Tesla Model S cars.

The cars have been preserved in pretty much the same condition as they were after the Hurricane. The damage caused by the collapsed roof includes everything from simple dents and scratches to smashed windshields and caved-in roofs. One of them appears to be in a completely destroyed state. It is important to note that none of these Ferraris have ever been restored and they still have their original paint and patina. Only a select group of collectors were aware of the existence of this collection, which is now being offered for sale by RM Sotheby’s.

Also read -  Ferrari boss confirms a Lamborghini Urus-rivaling four-door SUV

“This represents a once-in-a-lifetime opportunity for enthusiasts to acquire these iconic Ferraris, some of which have participated in renowned races,” RM Sotheby’s CEO Rob Myers said in a statement. “Most of these lost Ferraris remain untouched, preserving their purity and original condition since the day they were acquired—a true embodiment of the ‘barn find’ concept.” The entire collection is expected to fetch in excess of $50 million with some of the cars selling for around $2 million or more. Interestingly, each car is being offered without reserve.

Tags from the story
Written By
Sayan Chakravarty, a Senior Writer at Luxurylaunches, brings over 10 years of automotive journalism expertise. He provides insightful coverage of the latest cars and motorcycles across American and European markets, while also highlighting luxury yachts, high-end watches, and gadgets. An authentic automobile aficionado, his commitment shines through in educating readers about the automotive world. When the keyboard rests, Sayan feeds his wanderlust, traversing the world on his motorcycle.