Ferrari’s luxury pedigree is on proud display as icon model classified “work of art”
Luxury supercar maker Ferrari, arguably one of the world’s most iconic and exclusive brands, has just been awarded a unique, and telling, compliment by Italian courts. In an unprecedented move, the Italian commercial tribunal in Bologna has decreed that the Ferrari 250 GTO is not only a “classic” but a “work of art” that must not be imitated or reproduced.
Ferrari’s share price has appreciated by 65% so far this year
Source: Yahoo Finance
Ferrari is no stranger to plaudits such as these, and a large part of its appeal is down to the exclusivity and aesthetic pedigree of its products. But even in the rarified world of luxury cars, the 250 GTO is considered a standout. It might be the world’s most expensive model, with a recent example selling at auction last year for $48 million. There are 36 such cars in existence, made between 1962 and 1964, all of which have survived into the modern era with their own unique history.
The court in Bologna ruled that “the customisation of the car’s lines and its aesthetic elements have made the 250 GTO unique, a true automobile icon,” and added that its “artistic merits” had been recognised by “numerous awards and official testaments.”
In a statement, a Ferrari spokesperson was keen to highlight the unique manner of the classification and what it implied, saying: “it’s the first time in Italy that a car has been recognised as a work of art. It’s not just its beauty that makes it special – it also has a long racing history.”
Dominion holds Ferrari in its Global Trends Luxury Fund.
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