(Bloomberg) -- A dispute over the ownership of a 1954 Ferrari racing car that Victoria’s Secret founder Les Wexner bought for 10.7 million pounds ($15.4 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.
"Copley Motorcars and Bonhams announce the settlement of their ongoing litigation concerning the auction of a 1954 Ferrari 375-Plus by Bonhams at its Goodwood sale," they said in a joint statement April 18, the day a trial was scheduled to begin. "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."
|Only 4 remain in existence
Ferrari made just five 375 Plus models in 1954 and only four remain in existence. Fashion designer Ralph Lauren and candy billionaire Giorgio Perfetti each own one.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
