Many enthusiasts recognize various cars as works of art, but for the first time, a court agrees with us.
An Italian court ruled the Ferrari 250 GTO is a piece of art and can not be replicated or reproduced. The landmark decision, which The Telegraph reported Monday, declared no company can reproduce the 250 GTO. The ruling added the classic car is entirely original and must not be imitated; "production, commercialization, and promotion" of the 250 GTO belongs exclusively to Ferrari.
Ferrari 250 GTO
Ferrari levied a complaint in court against an Italian firm that planned production of replica 250 GTOs, which led to the ruling. Just 36 of the highly prized sports cars were made between 1962 and 1964. The Italian sports car maker applauded the decision and noted it's the first time a court has recognized an automobile as a piece of art.
“It’s not just its beauty that makes it special—it also has a long racing history,” Ferrari said in a statement.
Ferrari 250 GTO
The Ferrari 250 GTO is also the most expensive car ever sold at auction. Last year, one example attached to former racer Phil Hill sold for an incredible $48 million at auction. Somehow, that's still not the most anyone has publicly spent for a car. In a private sale, another 250 GTO was sold for $70 million. It's no wonder German banks recommend investors diversify their portfolio and snap up classic cars. Automobiles sometimes appreciate better than wine, jewelry, or other artwork.
It will be interesting to see if the court decision leads to similar arguments from automakers, especially low-volume sports car makers. In the U.S., the 2015 Low Volume Motor Vehicle Manufacturers Act makes it legal for low-volume manufacturers to produce turnkey replicas. Companies can build up to 325 replica cars that are at least 25 years old.