Walt Medlin’s collection will be auctioned at Monterey by RM

I am interested in buying the 512 BB Competitzione to add to my race car collection. Not easy to value though. Anyone have some insight?

 

I wish.

My wife was born in Marrakech and I have visited three times and another trip is on the horizon. She has also visited Morocco with her family at least twice. This is a special car. The restoration is at least $400K with years and years of frustration with the shop which will restore the car. Unfortunately the sad puppy story will probably set in with a few bidders who will pay more than the donor car is actually worth.

 

A friend recently had a Italian car (not a Ferrari) restored in Europe, it was more like 600 or 700k EURO for a car that was in good condition to begin with and I know of Ferrari restorations nearing the million dollar mark. RMs estimates are low with $1.5 mm for the 410SA and similar for the 250GT speciale, both allowing for those $1mm restorations. But there are not many totally original Ferraris left so yeah they will probably double, maybe even triple their estimates. This stuff is like drugs for high end collectors

 

I am not even supposed to be in this room. I would keep it as is and clean it and fix the mechanicals but what do I know about this. The interior is really kewl and some young French hottie probably got a ride a few times in the car. Pull the rugs and you will find a few grains of couscous.

 

There is always the option to restore down the track but once its been restored it can never be made original again. A famous Talbot-Lago sold out of the Locke collection in 2009 with very low miles and absolute oiginality back to 1939 but was soon restored so the owner could chase Pebble Beach glory. It was a damn shame. These cars can be made mechanically safe while keeping the patina. Boom!

 

I will see your boom, Monsieur Russell, and raise you a boom.
Boom!

 

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I can confirm that, as he bought one of my old Challenge cars from me in 2011.

 

I (believe) a copper Daytona Spider GTS/4 survivor with low miles was restored by the new owner who also painted the car in a different color.

 

Is Walter still alive??

Ken Goldman

 

I believe he is still living in the Kissimmee area...

 

The 1978 512BB LM please...

Um, that would be Carbed, NON CAT!!!!
$4M to $6M??

Hard to say there's not many "out there"..

Tons of other interesting cars, but that would be the one, if I had cut the locks on his barn!!

I will have to print this catalog as every one of his cars, had "story"..
Not in history, but in how it got to him!!!

 

Good grief, a "pulled from the barn wreckage 'glass 308GTB!

It seems "mostly there though.....
$100K tops.....

 

I’m curious as to how the BB S1 stacks up to the BB/LM S2 cars in terms of value. Obviously there were only 4 of the first ones and 25 of the later iterations. How does that impact numbers? And what of the power difference of the later cars and the much more developed chassis and purpose built race bodies? The later cars bid to and have traded for 2-2.5m in the last few years but it’s been quite a bit longer since an S1 car was offered so it seems really difficult to comp in both what they are and volume IMO.

 

Well, one could dump huge money into it restoration wise, or just get it back to "period race" correct and have some fun

I just love the simple Chinetti/NART/Cartier branding as I picked up DeBeers recently as a sponsor myself!!!

 

Walt certainly collected all the "right" stuff. Definitely knew what he was doing. Too bad the cars suffered such protracted neglect. Every one will need at least a full mechanical rebuild...which will make the bidding interesting...

 

Can anyone confirm if Walter ever owned one of the late 1950s cars from the 290 MM, 312, 315 S, 335 S family?
If memory serves, he was listed in the FOC/Ferrari Owners Club US Directory circa 1989 as having 14 cars, and one of them being a peak sports racer.

Thanks in advance.

 

I don’t think it makes sense to not go all out on the restoration. The car(s) were neglected, sat, and had storm damage. No chance I’d get in a mechanically refreshed only car and go to a track. I’d want it as new and perfect as possible to have faith I wouldn’t crash it and possibly kill myself just to save a few hundred grand extra in restoration costs.

 

Mods feel free to delete.
Sorry for the threadjack.
I realize now the 14 car entry I was thinking of was that of PGS.

 

He had an amazing collection too, still does. I assume a member of the banking rather than shock absorber families?

 

Small club.

 

Yes.

 

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I have PMd you!

 

Interesting article from Speedway Town Talk, thanks for posting the link.