When it comes to buying and selling cars, usually the car is in a drivable state upon sale, and if not, the seller communicates this with prospective buyers, negotiating a fair price for the immobile vehicle.
As you would expect, when dealing in multi-million dollar exotics the rules of buying and selling cars aren't as straight-forward, but when you spend eight figures on a car, you'd expect a transmission to be included.
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Unfortunately, this is the exact situation that the buyer of a $66 million 1962 Ferrari 250 GTO found themselves in, when he expected the gearbox for the car to be handed over during the transaction.
Now this anonymous UK-based buyer has decided to take the vendor to court over the transaction, claiming that the gearbox should've been sourced and included with the car from the get-go.
It turns out that the gearbox in question is actually sitting in a dealership in California, but neither party wants to foot the $50,000 bill to ship it across the Atlantic Ocean.
Because the buyer has refused to collect it from the States, the contract has now been "repudiated", meaning that be vendor no longer holds the title to it. So it's basically in possession limbo.
“The gearbox and the GTO are worth more together than apart. It makes commercial sense (to unite them) and I never opposed the idea," said the vendor, confused as to why the buyer doesn't want to foot the costs.
As to what will happen to the gearbox in question, it's anyone's guess. But it would make one impressive coffee table...
