FOUND > Cars Worth Millions in Condemned Garage

Parked and forgotten, for decades

Estimates place the value of the two cars at $4 million.

February 6, 2018
By James Massey, What Sells Best News

NORTH CAROLINA – The Barn Find Hunter, Tom Cotter is reporting on Hagerty, that an extremely rare vintage Ferrari 275 GTB, and Shelby Cobra 427, have been discovered inside an old condemned North Carolina garage. Initial estimates place the value at $4 million.

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PARKED AND FORGOTTEN

The cars were parked in the garage in 1991, after the car owner’s mechanic who was also a personal friend, died in a motorcycle accident. Apparently they were forgotten for decades, until the owner received a condemnation notice for the garage, from the city.

FOUND - Japanese 'Barn Ferrari' Fetches $2 million

When Tom Cotter arrived on the scene, he spotted the first treasure just inside the garage door. Covered in decades of dust, was a silver 12-cylinder 1966 Ferrari 275 GTB, with only 13,000 miles. However, that was just the beginning of the story.

The $4 million discovery by Barn Find Hunter, Tom Cotter.

An unrestored 1966 Ford Shelby Cobra 427, with only 19,000 miles and a trunkful of mouse nests was sitting nearby. Serial numbers identified it as one of roughly 100 built with a 428-cubic-inch engine, despite the logo listing it as a 427. A move that caused Shelby some trouble with Ford at the time.

ICONS OF A FIERCE RIVALRY

Ironically, the cars sitting together, also represents an era of an intense rivalry between Ford and Ferrari, which was ignited after Enzo Ferrari unexpectedly pulled out of a deal with Henry Ford II to buy Ferrari in 1963.

The intense Ford verses Ferrari rivalry.

In his anger, Ford decided if he couldn't buy ‘em, he'd beat ‘em, and he set his racing team and company, on a course for revenge. Carroll Shelby was pivotal in helping Ford exercise his vendetta against Enzo Ferrari.

WHY THEY'RE RARE

Both cars are highly sought by collectors, and have very small production numbers compared to the manufacturing runs of today. Having less than 20,000 miles each, also makes them that much more attractive to potential buyers.

TOP 'BARN FINDS'

Among barn finds we’ve tracked, this discovery definitely ranks among the top tier on our list.

FOUND - World's Best Barn Finds in the News

Small details can make a big difference in the prices of rare cars. If you ever find an old car in a barn, you might want to reach out to our recommended experts on the free appraisals page.