Photo: Art Recovery International
It must be the month of stolen and found Ferraris. An F40 that was taken by thieves from a hotel in Monza 24 years ago has just been found. The news comes just days after the UK Police announced they found F1 driver Gerhard Berger's F512 M.
The thieves eyed the Ferrari F40 while it was parked in front of a hotel in Monza, Italy, back in April 2000. The supercar vanished from the parking lot one day and was found 24 years later with the assistance of Art Recovery International (ARI).
The documents show that the Ferrari F40 in Rosso Corsa was stolen on April 16, 2000, when it was parked outside a hotel in the municipality of Villasanta in Monza, Italy.
The thieves drove off with the car, and the authorities were unable to trace them all these years. The insurance company had to pay the owner the exact value of the car at the time of the theft.
Almost 24 years later, the vehicle was found at an undisclosed location and finally reunited with its owner, who must be very happy. The car is in good condition and values way more than it did over two decades ago.
“Three sets of lawyers, two signed documents, and a very happy insurance company.” That is the result of the negotiations handled by ARI's CEO and founder, Christopher A. Marinello, and concluded with a confidential settlement agreement.
The resemblance between the name of the one who conducted the negotiations on the Ferrari and the headquarters of Ferrari, Maranello, is just a nice coincidence.
The value of the Ferrari F40 has been skyrocketing over the years. The model is currently estimated at around $2.5 million, with low mileage examples going as far as $3 million or more.
To thank him for finding a few to bring him his precious car back, the owner of the Ferrari offered him a special “inspection” of the car and a test drive on the road and racetrack. On LinkedIn, Marinello admitted that he accepted the offer to test drive the Maranello-made car. "It's in the contract," he explained to those who blamed him for taking advantage of the offer and uploaded a screenshot of the deal, which refers to inspecting and test-driving the Ferrari on both roads and the racetrack.
The recovery firm has so far recovered over $500 million of stolen artworks. But Ferraris hasn't been in their portfolio until now.
If this story sounds familiar to you, it does make sense. The news on the newly recovered F40 comes just days after Gerhard Berger's Ferrari F512M Testarossa was recovered by the Metropolitan Police. The Formula 1 driver's sports car had been stolen while he was racing in the 1995 San Marino Gran Prix.
The documents show that the Ferrari F40 in Rosso Corsa was stolen on April 16, 2000, when it was parked outside a hotel in the municipality of Villasanta in Monza, Italy.
The thieves drove off with the car, and the authorities were unable to trace them all these years. The insurance company had to pay the owner the exact value of the car at the time of the theft.
Almost 24 years later, the vehicle was found at an undisclosed location and finally reunited with its owner, who must be very happy. The car is in good condition and values way more than it did over two decades ago.
“Three sets of lawyers, two signed documents, and a very happy insurance company.” That is the result of the negotiations handled by ARI's CEO and founder, Christopher A. Marinello, and concluded with a confidential settlement agreement.
The resemblance between the name of the one who conducted the negotiations on the Ferrari and the headquarters of Ferrari, Maranello, is just a nice coincidence.
The value of the Ferrari F40 has been skyrocketing over the years. The model is currently estimated at around $2.5 million, with low mileage examples going as far as $3 million or more.
To thank him for finding a few to bring him his precious car back, the owner of the Ferrari offered him a special “inspection” of the car and a test drive on the road and racetrack. On LinkedIn, Marinello admitted that he accepted the offer to test drive the Maranello-made car. "It's in the contract," he explained to those who blamed him for taking advantage of the offer and uploaded a screenshot of the deal, which refers to inspecting and test-driving the Ferrari on both roads and the racetrack.
The recovery firm has so far recovered over $500 million of stolen artworks. But Ferraris hasn't been in their portfolio until now.
If this story sounds familiar to you, it does make sense. The news on the newly recovered F40 comes just days after Gerhard Berger's Ferrari F512M Testarossa was recovered by the Metropolitan Police. The Formula 1 driver's sports car had been stolen while he was racing in the 1995 San Marino Gran Prix.
RECOVERED TODAY, a $2.5M Ferrari F40, stolen 24 YEARS AGO outside a hotel in Monza, Italy. Negotiations were handled by ARI's Chris Marinello resulting in a confidential settlement agreement. "Three sets of lawyers, two signed documents, and one very happy insurance company". pic.twitter.com/EeBAN82QXT
— Art Recovery International (@artrecovery) March 7, 2024
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