Friday, January 10, 2020

French court orders $58m payout on Ferrari 250 GTO

Patrick Bardinon was sued for breach of trust by his siblings after auctioning off the 1964 Ferrari 250 GTO to a Taiwanese buyer in 2014 for $42m, a record at the time. He says it was a gift from his father Pierre Bardinon. Anne and Jean-Francois Bardinon claim their brother secretly removed the car from their father's collection and unlawfully sold it, depriving them of their inheritance. A French appeals court agreed.

Pierre Bardinon, who died in 2012, amassed an unmatched collection of more than 60 Ferraris. He paid $700 for the 1964 GTO in 1978. 39 GTOs were built from 1962 to 1964.