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$44 Million 1962 Ferrari 250 GTO at the Center of Lawsuit Over Missing Gearbox

In the world of private auctions, every detail counts. When a classic car changes hands, a detail like an original key part can make all the difference – all the more when the car is valued at $44 million.
1962 Ferrari 250 GTO, Chassis 3387GT, is the world's most expensive car at $44 million 4 photos
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1962 Ferrari 250 GTO, Chassis 3387GT, was privately sold in 2017 for $44 million1962 Ferrari 250 GTO, Chassis 3387GT, was privately sold in 2017 for $44 million1962 Ferrari 250 GTO, Chassis 3387GT, was privately sold in 2017 for $44 million
A very rare and very valuable Ferrari is now at the middle of a bitter legal dispute between 2 of its owners, who are duking it out in high court in London. The car in question is a 1962 Ferrari 250 GTO, the second of 39 ever made, which comes with a very lengthy and impressive racing history while also being a celebrated work of art. In the most literal sense.

This Ferrari, Chassis 3387GT, is also the most expensive car ever sold privately, fetching $44 million in October 2017, when it was bought by race driver and supercar trader Gregor Fisken (UK), from collector and lawyer Bernard Carl (U.S.). Fisken took Carl to court this year, arguing that he delivered the car without the original 5-speed manual transmission, even though the car didn’t have it at the moment of sale and both parties were aware of the fact.

The story is a complicated one, as befits such a rare, expensive and beautiful car. Fisken bought it from Carl knowing about the missing gearbox, but he’s arguing in court that Carl agreed to locate and deliver the missing part. Since then, Fisken sold off the car, and he’s being pressured by the new owner to deliver the missing part.

Neither Fisken nor Carl has the gearbox: a third-party from California has it, The Sunday Times reports. According to the lawsuit, Fisken says he and Carl had an agreement for the delivery of the gearbox at a later time, but the matter was never put down on paper because they couldn’t agree on who would pay the $25,000 “release fee” to that gentleman. Fisken says Carl should have paid it, while Carl argues Fisken should have traveled to the U.S. to retrieve the part himself – and pay the release fee and another $500,000 to himself (Carl) for locating it.

Fisken is asking the court to force Carl to deliver the gearbox, while Carl argues that whatever understanding they had became null when Fisken sold off the Ferrari. The court is expected to make a decision in the following weeks.

If you’re wondering what exactly makes this Ferrari so expensive, other than the fact that it’s rare, it’s in the pedigree. Chassis 3387GT, designed by Gian Carlo Guerra, came second second place in its class at the 1962 Le Mans and was driven to 16 podium positions in a total of 27 races. It is also recognized as an actual work of art, having been included in a Ferrari exhibition at Nashville’s Frist Art Museum in 2016.
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About the author: Elena Gorgan
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Elena has been writing for a living since 2006 and, as a journalist, she has put her double major in English and Spanish to good use. She covers automotive and mobility topics like cars and bicycles, and she always knows the shows worth watching on Netflix and friends.
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