Tuesday, April 26, 2016

Victoria’s Secret founder settles suit over rare 1954 Ferrari 375-Plus

A dispute over the ownership of a 1954 Ferrari that Victoria’s Secret founder Les Wexner bought for 10.7 million pounds (close to $20 million) was settled before a U.K. trial was scheduled to start.

Wexner, who bought the Ferrari at a Bonhams auction in 2014 through Copley Motorcars, joined up with the car dealer to sue the auction house for putting the vehicle up for sale while there were several lawsuits in the U.K. and U.S. over its ownership.
The claims over ownership laid bare the car’s peculiar history; the battered, burnt-out chassis was stolen from the Ohio backyard of an eccentric ex-U.S. army engineer, eventually finding its way into the hands of one of the world’s most renowned Ferrari dealers in Belgium.
Only 5 1954 Ferrari 375-Plus were made. It boasted a 4.9-liter V-12 which produced 330hp. The Ferrari was capable of doing 0-60mph in just four seconds and 60 years ago could hit a top speed of 186mph.