Ferrari 250 GTO is Officially Considered a Work of Art
How do you make an expensive car more expensive? Get an Italian court to recognize it as a piece of art.
The Meaning of Art
Art is subjective. To some, a piece may be worth nothing more than the medium used. But to others, it could represent all that money can’t express. When the automobile gets pulled into the artistic discussion, a confusing and convoluted expression of the word “art” starts to show itself. In 2018, the Ferrari 250 GTO broke all previous records and sold for $80 million. Now, there is a whole new discussion of worth that has never really been brought up with cars before.
A True Work of Art
After reports of a Modena-based replica company attempting to produce 250 GTO replicas, Ferrari took to the courts to shut down the impostures and preserve their image. The court backed Ferrari and the car is now an official "work of art." This protects the car from all replicas and recreations and grants Ferrari sole ownership over its shape, design, name, etc.
>>Join the conversation about the Ferrari 250 GTO right here in the 6SpeedOnline Forum!
Gold
Much like the art collectors culture, the automotive collector can be a difficult thing for some to understand. When something is worth more than its own weight in gold, would never be feasible to some. To others, no amount of money can represent the value a car can hold. Regardless of how you feel, the Italian courts officially see the Ferrari 250 GTO as a work of art that is protected from all imitations and reproductions, and its values just bumped even higher because of it.
>>Join the conversation about the Ferrari 250 GTO right here in the 6SpeedOnline Forum!
Automobile Icon
According to Ferrari, the car has “customization lines and aesthetic elements [that] have made the 250 GTO unique, a true automobile icon.” For this reason, the “‘artistic merits’ had been recognized by ‘numerous awards and official testaments.’ The production, commercialization, and promotion of the model belong[ed] solely to Ferrari.”
>>Join the conversation about the Ferrari 250 GTO right here in the 6SpeedOnline Forum!
Building Value
Overall, Ferrari used their mega status to cement the status of their vehicle and ensure that replicas don’t drive down the value of their brand or their customers' cars. Ferrari’s relationship with their consumers is one that requires significant attention from both parties, and by ensuring that the value of the most expensive cars sold at auction stays high, Ferrari helps both the customer and themselves.
