A $44M 1962 Ferrari 250 GTO is missing a part, according to Lawsuit. One of the most expensive cars of all time is at the center of a lawsuit over a missing part.
American collector Bernard Carl sold the $44M 1962 Ferrari 250 GTO to British classic car trader Gregor Fisken in 2017. The blue coupe is 2 of 36 Ferrari 250 GTOs that were built and comes with a lengthy and impressive racing history.
According to The Sunday Times of the U.K., what it doesn’t have is its original 5-speed manual transmission.
The transmission had been replaced and was owned by a third party at the time of the sale. Classic cars of all kinds are worth a lot more when they have all of their original parts, especially ones that command eight-figure valuations.
Fisken has since resold the Ferrari for an unknown amount, but is looking to enforce the delivery of the gearbox, claiming in High Court in London that he bought the car with the understanding that it could and would be included and handed over following the sale.
The Times said that arrangements were being made to do just that, but that the buyer and seller disagreed over the specifics, which included a $25,000 fee to the third party, and it never occurred.
Carl is arguing that any purchase agreement between him and Fisken was voided when the car was sold again, but also that it agreed to that he would be owed $500,000 for obtaining the gearbox. The hearing is still ongoing and it’s not known when a verdict will be reached.
Another 250 GTO was auctioned for $44 million back in 2018, ending in a $48.4 million price including fees that made it the most expensive car ever sold to the public. However, another 250 GTO supposedly sold earlier in the year in a private transaction for $70 million.Categories: Auto News, Blog