COMEDIAN Jerry Seinfeld has settled two lawsuits related to a $1.54m auction of one of his classic cars.
The lawsuits arose when Seinfeld’s sold Porsche was deemed inauthentic.
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The Porsche at hand is a 1958 356 A 1500 GS/GT Carrera Speedster sold in 2016 at a Florida Gooding & Company auction for $1.54m.
Three years after this Porsche’s 2016 sale, the buyer, a company called Fica Frio, filed a lawsuit that the car wasn’t an authentic factory model, Fox reports.
The truth is that the Porsche had been converted to resemble the auction’s 356A 1500 GS/GT Carrera Speedster.
Seinfeld says he wasn’t aware of the car listing’s inaccuracy.
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Seinfeld would file a third-party complaint against European Collectibles, the Costa Mesa, California dealer he purchased the car from in 2013 for $1.2m, Fox reports.
Seinfeld’s settlement was disclosed in a letter filed on Wednesday, June 1, in Manhattan federal court and is subject to final documentation, Reuters reports.
Porsche’s 356A was manufactured between 1956-1958, with 1958 models being the most desirable, Supercars reports.
The 356A’s predecessor, the 356, was the first production vehicle to carry a Porsche badge.
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The 356A became a southern California hit with its minimalist configuration and lack of weather equipment that matched the area’s sunny climate.
Only 151 356 A 1500 GS/GT Carrera Speedster models were manufactured.
The converted 356 A 1500 GS/GT Carrera Speedster has a 1,498 CC Type 692/0 DOHC Flat 4-Cylinder Engine that produces 110 BHP at 6,400 RPM.
Seinfeld sold 16 other cars during Gooding & Company’s 2016 Florida auction for $22.2m, Fox reports.
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