Ferrari Owner Clutching At £37 million Legal Claim

 

Mr Gregor Fisken, London supercar trader, bought the 1962 Ferrari 250 GTO in October 2017. The understanding was that the original gearbox would be included in the purchase. At the point the Washington lawyer failed to deliver the missing equipment Mr Fisken sued. 

 

Mr Carl, the seller, claimed Mr Fisken breached the terms of their contract by refusing to travel to California to collect the gearbox. The dispute suggests that by failing to collect the gear box that he no longer has any right to it. Furthermore he is demanding that Mr Fisken pay £380,000 ($500,000) to cover his efforts in locating the "unique and special" gearbox, which is being held by a classic car dealer in the US.

 

Thirty nine such Ferraris were built between 1962 and 1964 and the model is considered the holy grail among collectors. The sum Mr Fisken paid is believed to be the highest price ever paid for a car. 

 

This Ferrari, the second GTO ever built, was driven to first in class and second overall at the 1962 "12 Hours of Sebring" endurance race in Florida. Following the purchase Mr Fisken's company immediately sold it on to an anonymous collector.

 

However, Mr Carl said the US dealer in possession of the gearbox wanted $25,000 to hand it over, the court heard. Tension grew when the two dealers tried to arrange its delivery to England, quarrelling over who should pay both the release fee and shipping costs.

 

Mr Fisken is insistant on receiving the gearbox rather than cash as he requires the vehicle returned to its "original and complete state".

 

Mr Hooper, on behalf of Mr Fisken, said, "The restoration of original parts to cars of this nature is of great significance. This is not simply about the unique nature of the gearbox itself, but the restoration of the GTO's provenance."

 

The hearing in London continues.

 

Whitestone Solicitors

Rochdale