15 Million Dollar GTO - Reported stolen and found - Ferrari Life
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post #1 of 30 Old 08-29-2012, 08:36 AM Thread Starter
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15 Million Dollar GTO - Reported stolen and found

Story:

http://jalopnik.com/5938587/does-the...illion-ferrari

Last edited by Andrew; 08-29-2012 at 03:43 PM. Reason: Blog content that has to remain on original site for legal reasons
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post #2 of 30 Old 08-29-2012, 10:24 AM
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there is a court order to seize the car, which means the car has NOT been found, last known custodians are Kun Hee Lee Chairman of Samsung and the Blackhawk Museum
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post #3 of 30 Old 08-29-2012, 10:24 AM
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You would think it would be hard to impossible to sell or even transport a car like this with this sort of question hanging over it's head.
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post #4 of 30 Old 08-29-2012, 10:36 AM
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Originally Posted by mk e View Post
You would think it would be hard to impossible to sell or even transport a car like this with this sort of question hanging over it's head.

Nope.

However, I would like to see the filing/police report or such.

I can remember starting a thread, which I closed yesterday, about a certain car being 'stolen' and how that went into law suits etc.

Would like to see substantiation first on the official report before any comment to such.

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post #5 of 30 Old 08-29-2012, 10:46 AM
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Quote:
Originally Posted by Granucci View Post
Nope.

.
Really?

The world is a small place these days and with a US court order to seize the car in place I guess I just assumed the serial number would end up in a database that would land the car in impound if you tried to move it across a border anywhere in the developed world.

I also wouldn't think there are ANY reputable auction or brokerage firms that would touch it which should mean it's worth a fraction of the retail price until this issue is cleared up.
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post #6 of 30 Old 08-29-2012, 11:30 AM Thread Starter
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post #7 of 30 Old 08-29-2012, 03:54 PM
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Quote:
Originally Posted by mk e View Post
Really?

The world is a small place these days and with a US court order to seize the car in place I guess I just assumed the serial number would end up in a database that would land the car in impound if you tried to move it across a border anywhere in the developed world.

I also wouldn't think there are ANY reputable auction or brokerage firms that would touch it which should mean it's worth a fraction of the retail price until this issue is cleared up.
It happens sometimes, old article on F50 that found it's way to Asia and was not recovered (to my knowledge)

Michael Sheehan - Ferraris Online
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post #8 of 30 Old 08-29-2012, 04:28 PM
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It happens sometimes, old article on F50 that found it's way to Asia and was not recovered (to my knowledge)

Michael Sheehan - Ferraris Online
Well, I'm surprised to learn Asia is so welcoming of stolen property......but it can't move into the US or EU I'd guess

Last edited by mk e; 08-29-2012 at 04:35 PM.
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post #9 of 30 Old 08-29-2012, 05:02 PM
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4619 is not a GTO, and in fact the article states it is a 330LMB.

I find Mr. Blumenau's story to be very fanciful with very little back-up in facts, so who knows what the actual story is here?


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post #10 of 30 Old 08-30-2012, 02:51 AM
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Story of 250 GT Cabriolet s/n 0799 - FerrariChat.com. Over 700+ posts and several years not to mention courts etc. Several big players if not recognized personages.
Because things got so sue happy I changed thread title from STOLEN to STORY and made my last entry as "refer to this document" for fear of even cloning one word as my own. If you have a day/three. Makes for interesting read.

I should do more research for other examples.
Think of it this way paintings and such get taken for decades at a time.


Quote:
Originally Posted by mk e View Post
Really?

The world is a small place these days and with a US court order to seize the car in place I guess I just assumed the serial number would end up in a database that would land the car in impound if you tried to move it across a border anywhere in the developed world.

I also wouldn't think there are ANY reputable auction or brokerage firms that would touch it which should mean it's worth a fraction of the retail price until this issue is cleared up.

Guide to the Galaxy: Don't Panic
Rik -- LAH !


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Past:
1990 Mondial T Cabriolet SN 86247 : Red/Tan
1995 456 GT 2+2 SN 99987 : Roso Metalizzato [Fer 311/C] & Tan

Last edited by Granucci; 08-30-2012 at 03:14 AM.
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post #11 of 30 Old 08-30-2012, 03:00 AM
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Originally Posted by champagne612 View Post
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Didn't see this on my Droid first go round.

Thanks Doug that certainly looks quite genuine.

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post #12 of 30 Old 08-30-2012, 04:13 AM Thread Starter
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Quote:
Originally Posted by JazzyO View Post
4619 is not a GTO, and in fact the article states it is a 330LMB.

I find Mr. Blumenau's story to be very fanciful with very little back-up in facts, so who knows what the actual story is here?


Onno
The GTO was my mistake.

I believe the story - it happens with art work all the time.
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post #13 of 30 Old 08-30-2012, 04:20 AM Thread Starter
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Quote:
Originally Posted by Granucci View Post
Story of 250 GT Cabriolet s/n 0799 - FerrariChat.com. Over 700+ posts and several years not to mention courts etc. Several big players if not recognized personages.
Because things got so sue happy I changed thread title from STOLEN to STORY and made my last entry as "refer to this document" for fear of even cloning one word as my own. If you have a day/three. Makes for interesting read.

I should do more research for other examples.
Think of it this way paintings and such get taken for decades at a time.
I went right to the last post - of course it was closed.

Thanks for reminding me of the old days of frustration in every discussion.
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post #14 of 30 Old 08-30-2012, 04:27 AM
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why don't the current custodians of the car confront their ownership claim in court and be done with it ? Hiding the car only adds to the weakness of their claim.
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post #15 of 30 Old 08-30-2012, 04:41 AM
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Quote:
Originally Posted by Granucci View Post
Think of it this way paintings and such get taken for decades at a time.
Paintings are exactly what I was thinking of and decades is the right time frame.....and with this car it's 3 and counting. It just takes time to sort out the who and what of it.

It seems clear the people that have bought the car over the past 3 decades didn't know what was going on and felt they bought and sold the car honestly......but as this story spreads it should get harder and harder to find buyers/sellers/brokers who believe that.

It would be nice, assuming it's not already true and based on the f50 in japan story it sound like it's not true, if ferrari would maintain a data base of stolen cars and take an active stance in helping recover them or at the very very least refuse to service, provide parts, or broker sales or in any way. If checking the status was as easy as a call to the dealer the market of these cars would all but disappear. as an example, I've bought and sold a couple motec ECUs that are a little 6" x 4" boxes that costs about $5000.....no one will buy a used one without asking the serial number and calling a dealer because motec frowns on stolen ecus and when one is reported stolen they add the number to their database and the next time someone plugs into it to tune it the software automatically disables the ecu and it's nothing but a paper weight for that moment on.....a stolen motec has no value and neither should a stolen ferrari.

I honestly am finding it almost incomprehensible that in this day and age an ultra rare car that clearly has questions about who owns it is trading and showing up in museums and shows. I suspect even a quick google search will now make it clear to anyone who cares that this particular car is tainted and it will no longer be welcome in daylight......but I just don't understand how it's taken 3 decades for it to become a leper.
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post #16 of 30 Old 08-30-2012, 04:45 AM
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why don't the current custodians of the car confront their ownership claim in court and be done with it ? Hiding the car only adds to the weakness of their claim.
Exactly.
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post #17 of 30 Old 08-30-2012, 05:39 AM
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As for the 330 LMB - mistake #1 was trusting Don Fong. As far back as when this alleged incident occurred his reputation preceeded him.

As for 0799GT - that one was settled and the result was Barney lost. Cavallino and Ferrari Market Letter had performed a sufficient level investigation to find that the allegation of "stolen" had smoke to be able to run the ad. A publication is in the business to run paying ads not make final legal findings.

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post #18 of 30 Old 08-30-2012, 06:58 AM
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Quote:
Originally Posted by champagne612 View Post
I went right to the last post - of course it was closed.

Thanks for reminding me of the old days of frustration in every discussion.
If nothing I'm but here to please my co-hearts....gotta luv here.

Even if tempered with in a cattle prod reminder.

Oh so quiet here.

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post #19 of 30 Old 08-30-2012, 07:09 AM
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Originally Posted by mk e View Post
Paintings are exactly what I was thinking of and decades is the right time frame.....and with this car it's 3 and counting. It just takes time to sort out the who and what of it.

It seems clear the people that have bought the car over the past 3 decades didn't know what was going on and felt they bought and sold the car honestly......but as this story spreads it should get harder and harder to find buyers/sellers/brokers who believe that.
If only time would prove that. Yet the adages get reborn for a reason. People are that and objects are too.

Quote:
It would be nice, assuming it's not already true and based on the f50 in japan story it sound like it's not true, if ferrari would maintain a data base of stolen cars and take an active stance in helping recover them or at the very very least refuse to service, provide parts, or broker sales or in any way. If checking the status was as easy as a call to the dealer the market of these cars would all but disappear. as an example, I've bought and sold a couple motec ECUs that are a little 6" x 4" boxes that costs about $5000.....no one will buy a used one without asking the serial number and calling a dealer because motec frowns on stolen ecus and when one is reported stolen they add the number to their database and the next time someone plugs into it to tune it the software automatically disables the ecu and it's nothing but a paper weight for that moment on.....a stolen motec has no value and neither should a stolen ferrari.

I honestly am finding it almost incomprehensible that in this day and age an ultra rare car that clearly has questions about who owns it is trading and showing up in museums and shows. I suspect even a quick google search will now make it clear to anyone who cares that this particular car is tainted and it will no longer be welcome in daylight......but I just don't understand how it's taken 3 decades for it to become a leper.
Snowball chance in...
However one word explains where I believe Ferrari is going: Classiche. Laugh, but that will be the new norm along with proof of major and 8 x 10 glossies and note from Mom...bet ya'.
Nuevo rich are not in the marque. Shoot, I'm a poor example obviously but some with endless checkbooks
trump knowledge or care and black market gets reborn.

Step up China.

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1990 Mondial T Cabriolet SN 86247 : Red/Tan
1995 456 GT 2+2 SN 99987 : Roso Metalizzato [Fer 311/C] & Tan

Last edited by Granucci; 08-30-2012 at 07:18 AM.
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post #20 of 30 Old 09-05-2012, 09:03 AM
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Never have liked the guy since his company copied the iPhone & iPad (according to recent court findings) ;-)
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