From nearly the beginning of its history, Ferrari claimed a tradition of offering elite customers open-top touring cars that epitomized the peak of performance, luxury, and styling. Over the course of 20 years this idea matured through various chassis and coachbuilders before finding its greatest expression in what is now considered to be the manufacturer’s ultimate vintage touring spider: The 365 GTS.

The 365 was a more highly developed version of the 330 GTC and GTS models, which originally debuted at the Geneva Salon in March 1966. These cars featured handsome coachwork by Pininfarina while delivering stock-in-trade Maranello punch, courtesy of a 4.0-liter iteration of the famous Colombo-designed V-12 engine.

Of course, Ferrari was seldom content to let a promising platform go unimproved, so in late 1968 the 330 GTC and GTS models were quietly upgraded with even more ferocious mechanical specifications. The engine was enlarged to displace nearly 4.4 liters, making it the largest single overhead-cam motor yet equipped in a Maranello road car. Developing an uprated 320 horsepower and 267 pound-feet of torque, the new type 245/C engine offered a wider power band that thrilled performance enthusiasts. Significant torque now arrived as low as 2,500 rpm, which noticeably improved acceleration during standing blast-offs.

Minor cosmetic changes visually differentiated the two models, with the new 365 cars featuring more efficient engine-cooling vents on the hood rather than the fenders, and a modified interior vent arrangement. The 365 was also produced in a much smaller quantity. While 168 coupes were built—a relatively small number in itself—just 20 cars were configured as spiders, making the open-top variant among the rarest of all Ferrari spiders from any era. No roadgoing spider built during Maranello’s pre-1970 series-production years was as rare as this elegant tourer.

Writing for Forza, noted motoring author Winston Goodfellow said of the model: “The GTS is much like a lighter 365 California on steroids. Uninhibited by a roof, [it] sings louder and more throatily than the GTC. Without the 330’s fender louvers, the Pininfarina-penned shape becomes that much more pure…it’s a true master stroke of elegance.”

CHASSIS 12253: THE SIXTH OF TWENTY

Originally finished in a fabulous and rare paint color, and benefiting from a mechanical and cosmetic freshening completed in 2024–2025, this matching-numbers engine and gearbox 365 GTS is the sixth of only 20 examples built—a rarity that cements its status as a top-shelf Ferrari collectible.

According to the research of marque expert Marcel Massini, this car was factory-finished in the beautiful color scheme of Azzurro (light blue metallic) over a Nero leather interior. Originally specified for the European market, the Ferrari was issued a certificate of origin in April 1970, and a month later the car was distributed to M. Gastone Crepaldi, the famed marque dealer in Milan.

The well-known racing enthusiast and future racing team owner Dr. Alfredo Belponer brokered a sale of the 365 in July 1970 to its first private owner, Giancarlo Giliberti, who resided in a picturesque town on Lake Garda called Desenzano del Garda. By June 1976 the spider had come into the care of English nobility, passing to the collection of Sir George and Lady Burton of Ipswich, Suffolk, before being imported to the United States by the end of the decade.

By 1990 the Ferrari was attractively refinished in nero paint, creating an imposing black-over-black color scheme that particularly suits the elegantly muscular 365 design. Three years later the car was sold to Joe Konis of Gardena, California, and after passing through two additional ownerships over the following eight years, the GTS was sold in February 1998 to Walter Medlin, the legendary collector who amassed a trove of blue-chip Ferraris that he stored for many decades.

In September 2022, after a remarkable period of 24 years of single-owner care, Mr. Medlin sold the Ferrari to its next caretaker, who recommissioned the car for enjoyment on the open road. This work included a rebuild of the carburetors and the master cylinder, an overhaul of the wiring and electrical systems, and repairs to the flywheel, brakes, and fuel pumps, among many other measures. Cosmetically, the paint was touched up as needed and detailed, the brightwork and engine bay were detailed, and the interior underwent a complete cleaning and detailing. Finally, a new soft-top boot was fitted, and the wire wheels were shod with new Michelin XWX tires. This breathtaking black-over-black livery highlights the 365’s muscular design lines, from the small-mouth egg-crate grille through the delicately shaped rear fender haunches. Over $32,600 was invested in this phase of work.

In late 2024 and early 2025, the GTS benefited from further work carried out by Gran Touring Classics of Long Beach, California, with the intent of making an already great driver’s Ferrari even better. In addition to engine tuning and adjustment, the brakes were adjusted and the electrical system was serviced, with components rebuilt or replaced as needed. Further, the operation of the driver’s door window was adjusted, and even the throttle pedal position was refined to improve the overall driving experience. Invoices for this service, which totaled over $25,000, are on file.

Ideal for high-performance cruising on the open road, where the car’s recent freshening can be enjoyed to its maximum potential, this 365 GTS is a truly special Ferrari. The spider retains a very authentic character, including the presence of most of its original interior. It is also very important to note that chassis number 12253 retains its matching-numbers chassis, engine, and transaxle.

Given the 365 GTS’s remarkable rarity, chances to acquire an open version of Ferrari’s 4.4-liter grand tourer like this one are infrequent at best. This unique offering presents an uncommon opportunity that should not be overlooked by any serious Ferrari enthusiast.