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Ferrari’s (NYSE:RACE) Iconic 1960′ Sports Racing Car Declared a “Work of Art” by the Italian Court

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Ferrari’s (NYSE:RACE) 1960’s iconic Sports racing car, the 250GTO is declared a work of art by the Italian court, it may not be, replicated or duplicated now.

This is what brought on the court ruling, as follows:

  1. A car company in Modena set out to start making replicas of the iconic Ferrari 250GTO
  2. Ferrari took them to court, arguing it is a work of art and cannot be copied 
  3. Judges agreed, granting Ferrari sole design and intellectual property rights  
  4. Ruling puts the car in the same category as works by Da Vinci and Picasso 

The Big Q: What is Art?

Ferrari took the company to court, asking to have the design and intellectual property rights of the car awarded solely to their firm.

Judges were asked for their opinion after a company in Modena, home of the Enzo Ferrari Museum in northern Italy, threatened to produce replicas of the iconic 1960’s Sports racing car.

The Big A: The commercial tribunal found that the car’s ‘artistic merits’ had been recognized by ‘numerous awards and official testaments’.

Judges ruled that ‘the customisation of the car’s lines and its aesthetic elements have made the 250GTO unique, a true automobile icon’.

‘It is the 1st time in Italy that a car has been recognized as a work of art,’ Ferrari said.

‘It’s not just its beauty that makes it special, it also has a long racing history.’

GTOs have, over the years, competed at Le Mans, the Spa 500km Grand Prix, the Italian GT championships, and the car version of the Tour De France.

Only 36 were ever made between Ys 1962 and 1964, and it is considered by many to be the finest collector’s vehicle in the world. 

All 36 still exist, although some have been rebuilt over the years and several replicas have been built by various coach builders. Those days are over and those cars are of little value Vs an authentic GTO250.

Last August, a 1962 model sold for $48.4-M at Sotheby’s annual collector car sale in California.

Ferrari is the Aristocrat of the automotive sector.

The iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

HeffX-LTN overall technical outlook for RACE is Very Bullish, overhead resistance now stands at, and support at 156.42, all Key indicators are still Very Bullish in here. Ferrari finished at 159.74 -2.47 Tuesday in NY.

Tune in for the Austria GP this weekend.

Stay tuned…

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