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We're tying to figure out which is the greater nightmare scenario. On one side, you have a collector who had his ultra-rare and extremely valuable classic Ferrari stolen. On the other, you have another collector who had the same Ferrari seized by state troopers. One car, two collectors, and one very unfortunate set of circumstances.

The car in question is a 1958 Ferrari 250 GT Pininfarina Series 1 Cabriolet, one of only 40 made. It was owned by a collector in Switzerland until it was stolen from a warehouse in Spain in 1993. The owner refused to collect compensation from the car's insurers, certain as he was that such a rare vehicle would turn up sooner or later. Fast forward fifteen years to the residence of Paul Hallingby in Sharon, Connecticut, where the Motor Vehicle Fraud Task Force of the Connecticut State Police showed up to take possession of the car. Hallingby, who paid over half a million for the car, now worth millions, is reportedly cooperating with the authorities. However, few details are known about the car's whereabouts in the intervening years except that it is believed to have been smuggled into the country through New Jersey where it was given a false Vehicle Identification Number. Hallingby is surely devastated, but the collector in Switzerland must be elated to be reunited with his baby after fifteen years.

[Source: Inside Line]



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    • 1 Second Ago
  • 11 Comments
      • 6 Years Ago
      No good can come from this case.
      • 6 Years Ago
      nice
      • 6 Years Ago

      How Could Hallingby NOT Know this Ferrari Was Stolen?

      http://tinyurl.com/6jwxfm
        • 6 Years Ago
        My exact thoughts.
      • 6 Years Ago
      Most Insurance companies would offer the customer the right to buy it back at the amount that they paid. Insurance companies are not allowed to profit from the return of stolen property. They were out of the money either way and this way they are made whole just like an insured would be. If not people would never trust an insurance company. Wait what did I just write........ But really strange laws cover insurance claims dating back to when we sailed the sea's and we
      are just now finding the lost treasure's. The insurace company has first rights if the company that had the policy no longer exists, but the insurance company would need to be paid back from the find.

      • 6 Years Ago
      Remember the movie "To catch a thief?" At the end of the movie, a collector wanted the piece of art so badly that he ignored the fact that it was stolen.
      The fact that there was a 10 years gap as to the history of this Ferrari would have been a clue. It seems to me that there is a group of Ferrari collectors who are committing fraud by ignoring whether their Ferraris were stolen or not.
      The original collector still has two Ferraris missing.
      • 6 Years Ago
      I can't imagine how the collector in Switzerland feels. Though I'd put it somewhere between orgasm and utter rapture.
      • 6 Years Ago
      "Connecticut Police seize rare stolen Ferrari"

      Well, I guess if it's a rare Ferrari, it would be rare that it would be stolen, but I think that you intended to say that it was a stolen rare Ferrari.
      • 6 Years Ago
      Most people would get the insurance payout and the insurance company would make a nice profit reselling the car after its recover. Good job smart collector
      • 6 Years Ago
      I'm still waiting for 92 civic