1970 Ferrari 365 GTS

12253roadItaly

Engine: 4.4L V12 SOHC, ~320 bhp
Colour: Black over black

The Ferrari 365 GTS, chassis 12253, is the sixth of only 20 open-top examples produced, making it among the rarest road-going Ferraris of the pre-1970 series-production era. Powered by a matching-numbers 4.4-litre single-overhead-cam V-12 and clothed in Pininfarina coachwork, it was originally delivered in light blue metallic to a dealer in Milan in 1970. Its ownership history spans Italian, British, and American collectors, including a 24-year period with noted Ferrari accumulator Walter Medlin. The car was mechanically and cosmetically refreshed in 2022–2023 and again in 2024–2025.

Ownership

—Auction sale
Sold US$2,590,000
RM Sotheby's catalogue lot →
1970-05-01 → 1970-07-01Factory delivery
M. Gastone Crepaldi (Ferrari dealer, Milan)
full documentation
Milan-based marque dealership that received the car from the factory distribution network; served as the point of sale to the first private buyer.
1970-07-01 → 1976-06-01Private sale
Giancarlo Giliberti
full documentation
Resident of Desenzano del Garda on Lake Garda; sale was brokered by racing enthusiast and future team owner Dr. Alfredo Belponer.
1976-06-01 →Acquisition unknown
Sir George and Lady Burton
partial documentation
English aristocrats based in Ipswich, Suffolk; the car was subsequently exported to the United States before the end of the 1970s during or after their ownership.
→ 1990Acquisition unknown
Unidentified US-based owner, pre-1990
none documentation
During this period the car was repainted in black, resulting in a black-over-black color scheme.
1993 →Private sale
Joe Konis
partial documentation
Resident of Gardena, California; acquired the car three years after the 1990 respray.
→ 1998-02-01Acquisition unknown
Two unidentified intermediate owners
none documentation
The car passed through two successive ownerships in the roughly eight years between Konis and the next named owner.
1998-02-01 → 2022-09-01Private sale
Walter Medlin
full documentation
Prominent California-based Ferrari collector who held an extensive assemblage of significant Ferraris; retained this car for approximately 24 years without apparent active use.
2022-09-01 →Private sale
Post-Medlin owner and consignor
full documentation
Commissioned a thorough mechanical and cosmetic recommissioning totaling over $32,600, followed by further specialist work by Gran Touring Classics of Long Beach exceeding $25,000 in 2024–2025.

Competition

No competition history extracted from the catalogue.

Maintenance & restoration

1990
Bodywork
The car was fully repainted in nero, replacing the original Azzurro finish and establishing a black-over-black appearance.
2022
Mechanical
Recommissioning work encompassing carburetor and master cylinder rebuilds, complete wiring and electrical system overhaul, and repairs to the flywheel, brakes, and fuel pumps.
Total expenditure exceeded $32,600 across mechanical and cosmetic phases.
2022
Bodywork
Paint touched up where required and the whole car detailed; brightwork and engine bay freshened; interior thoroughly cleaned and detailed.
Carried out as part of the same recommissioning programme.
2022
Service
New soft-top boot fitted and wire wheels fitted with fresh Michelin XWX tyres.
2024Mechanical
Gran Touring Classics
Engine tuning and adjustment carried out, brakes adjusted, electrical system serviced with components rebuilt or replaced as required, driver's door window operation corrected, and throttle pedal position refined.
Work conducted in late 2024 and early 2025 at Gran Touring Classics of Long Beach, California; invoices totalling over $25,000 are retained.

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