FERRARI LOSES GTO RIGHTS
AN ITALIAN Commercial Tribunal ruling last year legally regarded the 250 GTO as an “entirely original” piece of “art”, protected from imitation, replication and reproduction. However, a higher EU court has recently back-flipped on that decision, whilst partly revoking Ferrari’s trademark on the rare 1960s racer.
Ares Design, a fellow Modena Italy-based coachbuilder, took Ferrari to the European Union’s Intellectual Protection Office, in response to last year’s ‘artistic’ court precedence. Ares Design argued to the EUIPO that Ferrari’s 250 GTO trademark was filed in bad faith, as a defensive move to block third parties to produce and sell similarly built lowvolume sports cars.
The EUIPO’s decision to strip away Ferrari’s exclusive rights were cited by Article 58(1)(a) of the EUTMR, which states that an EU trademark may be revoked if not put in use for five continuous years; which Ferrari hasn’t really done since 1964. In the end, it was ruled that Ferrari had not proven genuine use of the trademark.
The ruling opens the door for legitimate and legal kit cars and replicas, which lead many to wonder whether a tangible effect would be felt on genuine GTO values.
In truth, replica cars are nothing new – and Ferrari’s iconic 60s road and race cars have never been safe from imitation. It’s also entirely possible that an influx of cheaper replicas can push values even further north: as was observed in original Aston Martin DB4 GTs after Aston’s own DB4 GT Continuation increased production numbers by 25 per cent.
Just 36 250 GTOs were ever produced from 1962 to 1964; and frequently set auction records in the rare instances they trade hands. In 2018, RM Sotheby’s set records with an AU$70 million sale at Monterey. This is not to forget the even more lucrative private sales that are conducted behind closed doors. An ex-Stirling Moss example privately sold for a reported Au$92 million just months after RM Sotheby’s recordsetting auction.
An ever-limited supply keeps their values safe; while a global network of historians, experts and the most exclusive ‘owners club’ in the world should easily prevent any imitations attempting to pass off as genuine vehicles.