AU$64m 1962 Ferrari 250 GTO at the centre of legal stoush

By: Alex Affat, Unique Cars magazine

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250 GTO gearbox front side right 250 GTO gearbox front side right

Two well-heeled parties are in contention over the car’s missing original gearbox

A lawsuit went to trial in London this week embroiling a 1962 Ferrari 250 GTO, last publically sold in 2017 for AU$64 million, at the centre of the legal stoush.

Supercar trader Gregor Fisken took ownership of the car in 2017 (and has since sold it on), and initiated legal action with claims he is owed the valuable original five-speed transmission which was never delivered with the sale.

250-GTO-gearbox-interior.jpg

Fisken originally purchased the car with a replacement transmission unit, but insists there was an understanding that the part would be delivered at a later time.

The Times reports that a deal for the original gearbox was discussed but never finalised between Fisker and the seller, noted car collector and lawyer Bernard Carl.

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Various fees have been stipulated in the retrieval of the ‘matching numbers’ gearbox and remain up in the air – including a US$25,000 "release fee" to the holder of the part.

Fisken argues that Carl should have retrieved the original transmission in good faith, while Carl argues that Fisken, the new owner, should have been responsible for travel to California where the gearbox is located and any due fees.

250-GTO-gearbox-front-side.jpg

Carl also believes he is owed US$500,000 by Fisken for tracking down the original gearbox; also claiming that any purchase agreements made in the terms of sale are nullified now that Fisker has sold the car on to an anonymous buyer.

The judge is reportedly days away from making their ruling, but it highlights the extreme significance of originality placed upon collectibles at the highest echelon of motoring.

This is surely an issue few of us can relate to: but do you have any tales of purchasing a car that was less-than-described? Give us a bell!

 

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