February 26, 2005
The Tax Man Cometh

Sometimes the allmighty helps protect you from the government. Sometimes he does the opposite:

A twisted federal tax case involving Florida land sales comes to roost in Phoenix next month when IRS agents auction off a rare and historic Ferrari 330 P4 factory race car from the 1960s.

Minimum bid: $2 million.
...
The sleek red 1967 Ferrari, one of only three in the world, belongs to Florida land developer Walter Medlin, a reclusive multimillionaire whose legendary battles with the Internal Revenue Service stretch back about two decades.

Last year, part of Medlin's treasure trove of Ferraris was revealed when Hurricane Charley hit the Orlando area, blowing down a huge barn on his Kissimmee, Fla., property. The barn's collapse revealed 17 Ferraris and two other valuable cars, most of which were damaged by the falling structure and exposure to the hurricane.

I've heard about barn finds before, but that my friends is ridiculous.

Posted by scott at February 26, 2005 08:38 AM

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