Victoria’s Secret billionaire finally gets clear title for super-rare Ferrari
Buyer of 1954 375-Plus goes to court to establish definitive ownership
In 2014, during the Goodwood Festival of Speed in West Sussex, England, a Bonhams auction caught headlines with the recordbreaking sale of a Ferrari 375-Plus.
It was one of only five produced and a Silverstone endurance race winner, which somewhat justifies the £10.7 million price (almost $20 million in today’s Canadian currency). But, little known to the successful bidder — Victoria’s Secret billionaire Les Wexner — the title was under dispute.
As Daily Mail Online reports, it had been bought as a wreck in the 1950s for a mere $2,500 and was later stolen, then shipped to Belgium.
After it changed hands and ended up in the Bonhams auction, Wexner claimed “deceit” after discovering the title wasn’t clear and, understandably, wanted a refund — plus interest and damages.
A year and a half later, the argument has been resolved in a London court, and Wexner can now add the Fearsome Four-Nine (so named because of its 4.9-litre engine) to his stable, which includes other Ferraris of the era.
It sounds as though Bonhams was the one to take the hit for the mistake, judging by the official statement, released jointly by the auction house and Wexner’s legal team: “The resolution of the litigation, including the transfer of valid Ohio title and Bonhams’ contribution to Copley’s costs, finally enables the completion of the sale of the car with the disputes to title now definitively resolved.”
So you can rest assured that next time it comes up for auction, you won’t need to worry about its title if you have the winning bid.
The resolution of the litigation, including the transfer of valid Ohio title and Bonhams’ contribution to costs.