Everyone’s Stolen Ferrari

Last year at the Goodwood Festival of Speed, an extremely rare 1954 Ferrari 375-Plus was sold at auction for a jaw-dropping sum of $18.2 million (Rs 114 crores). The car carries with it a tale that is almost unheard of – and one that is now the centrepiece of one of the longest legal battles for ownership of a car.

Ferrari made just five 375-Plus models in 1954, and only four of those gleaming symbols of motor racing's golden age remain. The car in question was first owned by the Ferrari Racing team, and competed in many high profile events like the Mille Miglia and the 24 Hours of Le Mans. A year later, it was sold to American racer Jim Kimberly – who entered the car in various SCCA (Sports Car Club of America) events. In 1957, the car was then sold to an Ohio-based collector named Karl Kleve – who partially dismantled the car, but kept the body parked out in the open on his ranch. Almost 22 years later, the body, which hadn’t been moved at all, mysteriously disappeared.

Somehow, a French collector got his hands on the car. And even though the car was reported stolen in the US, it was registered in Europe and then sold again to a Belgian collector named Swaters – who shipped the car back to Modena, Italy, where it was fully restored and was reunited with its original 4.9 litre V12 engine. There was a lengthy legal battle that then ensued between Swaters and Kleve, but a deal was made and the car remained in Europe.

However, the fighting didn’t stop there. A decade later, Swaters’ daughter filed suit in Ohio against Kleve – even though he had since died. Two other individuals also filed suit, and claimed ownership of the car. In 2013, all the parties agreed to allow Bonhams to auction the car and split the proceeds. This is when the car was sold for $18 million to lingerie billionaire Wexner. Things only got worse from there, as Wexner then sued Bonhams – claiming that he was misinformed about the vehicle. And then Bonhams sued the daughter of Kleve, and a Paraguayan dealer who also alleged ownership – but whom the auction house had paid $3.6 million to keep quiet.

People have been fighting over this car for 16 years now, and the next court hearing will be in September in London. So, as of now, this special car has no legal owner and is the most expensive stolen Ferrari of all time!