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Hagerty
Hagerty Employee

Seinfeld settles "fake" Porsche lawsuits, precise terms unclear

Six years after Gooding & Company sold a 1958 Porsche from Jerry Seinfeld's collection to Fica Frio Limited, and questions of its authenticity triggered two 2019 lawsuits (one from Fica Frio against Seinfeld, and another from Seinfeld against the company from which he bought the car), both cases have finally been settled.
https://www.hagerty.com/media/news/seinfeld-settles-fake-porsche-lawsuits-precise-terms-unclear/
28 REPLIES 28
Jnick
Advanced Driver

Sure makes a good case for depreciated non numbers match junkers!!!
Gary_Bechtold
Specialist

Very crazy story that is still not done.
RoadDog
Intermediate Driver

Well, if nobody wants the dang car, I'll take it and drive it!
MrKnowItAll
Advanced Driver

A now priceless and unusable gussied VW bathtub. I've never been gaga over these. If I were, I'd get the reproduction with a Subi, and enjoy it.
jekirkbride
Intermediate Driver

Seinfeld does drive his cars.
He can afford to.
AlanBrase
Pit Crew

I'm pretty sure you have never driven any 356 Porsche spiritedly for you to think they had much in common with fiberglass replica. To call this a "gussied up bathtub VW" would be like calling the Bullitt 390 Mustang a "gussied up Falcon". By 1958, a T-2 Porsche probably shared 50-100 parts with VW's. Of perhaps 5000 parts.  

Pete27
Pit Crew

It would nice to get all the information attached to this situation, especially what specifically was uncovered that brought its authenticity into question. We are still only getting some of this story.
SAG
Technician

Not Jerry's fault he was conned by misrepresentation of his 'Restoration shops' knowledge.
"screw me once - shame on you, screw me twice - shame on me"
wdb
Advanced Driver

Rich people problems.
jekirkbride
Intermediate Driver

Mo money mo problems.
4RenT
Advanced Driver

Probably true,
but I'd like to find that out for myself!
B^)
dooscoop32
Detailer

All of this only serves to undermine the classic-car industry. More and more stories surface constantly about high-priced, misrepresented cars. It will get to the point that people will just give up on all of this madness.

I've always been involved with Corvettes. One of the most popular and valuable years for them is 1967. There were 22,940 total cars made for that model year. But I would swear I have seen 22,940 1967 Corvettes with the optional 427/435 HP engine at Barrett-Jackson and Mecum.

I've never had it happen to me but I cannot even imagine the sinking feeling a buyer must get after he spends big money for a rare and desirable car only to find out later on that it's NOT what it was claimed to be.

People like that probably never recover from it and probably never jump in the water again. You know there is a Muscle Car explosion going on right now with new cars. So, it would be easy for a lot of those who got burned to switch and never look back.

Larold24
New Driver

Too many “probablys”. How do you know? Let’s just stick to C2’s and let the buyers beware. There is certainly no shortage of information online. Thank god.
Stixx
Detailer

I DO not think it is any secret about how much faking cars goes on which is why you probably need to spend some dough and authenticate your purchase BEFORE buying it . Fortunately I bought my BULLITT new so that problem wont be one I worry about
even though I doubt seriously I will ever live long enough to see it become valuable to that extent of these crappy early porsches .Oops
4RenT
Advanced Driver

"It will get to the point that people will just give up on all of this madness."

Not all people, some people have more money than brains.
(I'm not referring to Seinfeld, but I'm sure you know a few yourself)
B^)
audiobycarmine
Technician

"Hello, Newman..."
Tinkerah
Engineer

This is worlds away from my backyard exploits, so I'm gonna chime in anyway....Unless there's some legal reason that I can't imagine for not disclosing your evidence, it smacks of buyer's remorse or fishing for a quick payoff. Fica Frio surely had their chance to verify authenticity, and perhaps is surprised that Jerry didn't cave. If it turns out the car is legitimate all the lawyer's fees should be paid by Fica.
jekirkbride
Intermediate Driver

Fica Frio probably took the documentation by European Collectibles of Orange County, California and Jerry's integrity at face value, knowing they could get their money back if it was wrong.
Tinkerah
Engineer

Ok, but that seems like a dangerous mindset. This isn't Amazon after all. 

yardsale88
Pit Crew

Cool Porsche! But I really could care less about millionaires suing millionaires. The ride is what counts.
mpzz
Advanced Driver

The question now is, how MUCH less could you care?
USGUYS
Pit Crew

The cases are in "court". If settlement is approved they won't go to "trial". There'll be some big attorney's fees. They might be able to buy a new Porsche. LOL
mpzz
Advanced Driver

I'd take it off their hands for a cool thousand!
Zion427
New Driver

I find with all the money and reputations at stake, that someone of Seinfeld's stature as both a well-heeled celebrity and renown collector of Porsches would go to the source......the factory itself. It begs the question; is Porsche as the manufacturer not interested in providing positive verification of cars it's manufactured? All of the legal wrangling could have been avoided had someone relied on Porsche, GMBH, to verify the car as authentic. Perhaps they aren't interested once a car leaves the factory, but surely Jerry is both well-known and in frequent contact with them regarding other and potential additions to his collection.
AlanBrase
Pit Crew

When Porsche built these cars it was a real "hobby shop". They had precious few records and even fewer kept. Now about the most one can get is a "Kardex" from Porsche, possibly some records from Reutter (the body/ chassis builder). The very best information/ provenance about these cars is held by a few restoration people. Mostly US people, perhaps a couple in Mexico, Argentina and Europe. The 4 cam cars were essentially all race cars and they have been used up/ crashed/ discarded for 50 years now.

GoFaster
Detailer

Obviously there is guilt here somewhere, and Seinfeld was probably scammed. But, it is difficult for me to feel sorry for a rich rude person such as Jerry Seinfeld.
AlanBrase
Pit Crew

Minor correction: Carrera GT's  do not have aluminum bodies. they have aluminum hoods, doors, and  engine lids.

America Roadsters and Gmund coupes and Spyders have aluminum bodies. Genuine 356A GTs have a few subtle features that might get past a cursory inspection.

Snailish
Gearhead

Does being the infamous "Seinfeld Fake" now give this particular car a value bump despite it's shady history?

 

We haven't been told what actually makes it suspicious. Might be something future auctions just gloss over "there are some concerns around the authenticity of this car, but it is so beautiful one just has to forgive it and make a bid anyways".

 

I say a rich person with no intentions to drive it sees this as the perfect living room discussion piece, next to their live edge oak Kramer head.