The Ferrari 250 GTO, which recently went for a record-breaking $48.4 million at RM Sotheby’s Monterey auction last August, is worth more than its own weight in gold. It’s one of the most iconic pieces of automotive collector culture and an Italian court has just officially recognized it as a work of art.
Such a thing would only happen in an Italian court. A commercial tribunal in Bologna, to be exact, according to The Telegraph. It recognizes the 250 GTO as both a classic and a work of art that is “entirely original,” which protects it from imitations and reproductions.
Of course, this only happened when Ferrari did the typical Ferrari thing and apparently complained because there was allegedly a company that had plans to make 250 GTO replicas in Modena. Per the story:
Ferrari lodged a petition to have the design and intellectual property rights of the classic car officially recognised.The court ruled that “the customisation of the car’s lines and its aesthetic elements have made the 250 GTO unique, a true automobile icon.”The car’s “artistic merits” had been recognised by “numerous awards and official testaments.”The production, commercialisation and promotion of the model belonged solely to Ferrari, the tribunal said.
By the way, third-party companies that make replicas aren’t a new thing. There have been plenty of replica Shelby Cobras, Fords, Jaguars, Lamborghinis and Alfa Romeos made. And I don’t remember hearing any bellyaching from them.
A Ferrari spokesperson told the outlet:
“It’s the first time in Italy that a car has been recognised as a work of art. It’s not just its beauty that makes it special – it also has a long racing history.”
Anyway, if you were holding out for 250 GTO prices to drop, you’re out of luck. By taking this to court, Ferrari has effectively guaranteed the exclusivity and high price of its car until the end of time or when money no longer holds value, presumably whichever comes first.
Not that the car was in any danger to begin with.