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French Luxury Dynasty in Court Battle Over 'Mona Lisa' of Ferraris

The 250 GTOs, built from 1962-64, have since become some of the most fabled Ferraris in the world, deemed the "hottest car of all time" by the magazine Popular Mechanics in 2017.

AFP

Updated:December 14, 2018, 11:03 PM IST
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French Luxury Dynasty in Court Battle Over 'Mona Lisa' of Ferraris
Representative image. (Image: AFP Relaxnews)
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Guéret/France: The descendents of a French luxury leather dynasty sparred in a bitter court case on Friday over the ownership of a vintage Ferrari racer described as a "Mona Lisa", valued at tens of millions of euros.

"My brother and sister have never accepted that (my father) gave this car to me," Patrick Bardinon, 61, told the court as proceedings opened on Thursday in Gueret, not far from the family's estate in central France.

He is being sued for betrayal of trust by his younger brother Jean-Francois and older sister Anne after he sold the prized 1964 Ferrari 250 GTO for a record 38 million euros ($43 million at current rates) to a Taiwanese collector four years ago.

The racing model, one of just a few dozen made by the storied Italian automaker, was a crown jewel in the legendary collection built up by their father Pierre Bardinon.

He was the fifth generation of the family behind Chapal, a specialist in leather and fur created in 1832, and which is run today by Jean-Francois.

The brand would become famous for its aviator bomber jackets, including the one Charles Lindbergh wore on the first solo flight across the Atlantic.

A car lover from an early age, Pierre Bardinon even built his own race track adjacent to the family estate in Mas du Clos while collecting competition Ferraris, at one point owning around 70 rare finds.

Enzo Ferrari himself once declared he had no need for a museum dedicated to racing models, since Bardinon already had one.

The car at the heart of his children's dispute, one of just three built in 1964, was bought by Bardinon in 1978 for the princely sum of $700 -- about $2,800 in today's money -- though he spent another $1,500 fixing it up.

The 250 GTOs, built from 1962-64, have since become some of the most fabled Ferraris in the world, deemed the "hottest car of all time" by the magazine Popular Mechanics in 2017.

"A stunning shape and incredible 3.0-liter V-12 makes this the definitive exotic. And it couldn't be more gorgeous," the magazine gushed.

'Unseemly'

For Patrick Bardinon the story begins in 1978, when he suffered a horrendous accident while driving in a race.

"My father thought I had died that day," he told the court Thursday.

Feeling a terrible guilt for having passed on his passion for cars, the father gave his son the GTO, a friend of the family testified.

"My sister received payouts from my father her entire life, without ever working, and my brother got money when his businesses weren't doing well," Patrick said.

"I find it unseemly of them to challenge our father's decisions now."

But his brother's lawyers say Patrick "secretly removed the car from the collection one morning at dawn."

Pierre Bardinon died in 2012 and his wife soon after, leaving a fortune which exposed his heirs to hefty French inheritance taxes.

Hence the 2014 sale of the 250 GTO as well as a handful of others in the collection, including a 1957 Ferrari 335 Sport for 32 million euros in 2016.

The exact number of cars which remain in the collection is "confidential", lawyers argue.

Yet Pierre Bardinon's fortune is still estimated at 250 million to 400 million euros, and his collection has been placed in sequestration pending the court ruling.



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| Edited by: Anu Parthiban
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