Stolen $1.9 Million Ferrari Seized at the US-Canada Border Needs Courts To Decide Rightful Owner

Mar 25, 2021 1 min read
Stolen $1.9 Million Ferrari Seized at the US-Canada Border Needs Courts To Decide Rightful Owner

This supercar has been all over the place!

Exotic cars are some of the most valuable vehicles in the world, at the top of that value range is Ferrari. For the most part, especially with Ferrari, the older the better as classic examples of the Italian Stallion are usually sold for multiple millions of dollars. So it is not surprising to find out that one such vehicle is currently being fought over. This Is a shocking tale of deception, thievery, and an intense legal battle. Unfortunately, after having been stolen and resold, and seized at a border the courts are having trouble identifying the true and rightful owner of the vehicle.

This Ferrari F40 was found after it was stolen.

The car in question is a 1996 Ferrari F50 50th anniversary edition that only has around 10,000 miles on the odometer, the low mileage status combined with the extreme rarity gives this car a hefty value. Originally there were only 349 F50 50th anniversary editions made which helps set the current value of $1.9million. It was to be shipped to Florida where a certain car collector would add the piece to his fine collection of automobiles. However, being that it was being shipped from Quebec, it had to go through customs. Luckily the border patrol inspectors noticed that the VIN plate had been tampered with so they seized it and the US Attorney's Office For The Western District Of New York has filed a civil action to determine the car’s true owner.

After having been stolen from a hotel parking garage in 2003, it was taken to Canada and sold to the aforementioned Florida collector for $1.4million. Paolo Provenzi provided evidence of his initial purchase and it was determined that he was the original rightful owner. However there was the case of the Florida man who paid $1.4million, he wanted the car too. So after 18 years of floats from place to place, this classic supercar may find a home soon enough.

Great! Next, complete checkout for full access to Motorious.
Welcome back! You've successfully signed in.
You've successfully subscribed to Motorious.
Success! Your account is fully activated, you now have access to all content.
Success! Your billing info has been updated.
Your billing was not updated.