Jerry Seinfeld has settled a lawsuit over a Porsche 356 that he sold after the new owner claimed that it was not authentic. The terms of the deal struck among all parties involved were not disclosed, however.
The vehicle at issue is an exceedingly rare 1956 Porsche 356 A 1500 GS/GT Carrera Speedster, which Jerry sold at auction in 2016 as part of the “Jerry Seinfeld Collection” of cars at Amelia Island, Florida, for $1.4 million, plus 10% buyers premium.
The new owner was Fica Frio Ltd, a Channel Islands-based entity connected to Carlos Monteverde, son of billionaire philanthropist Lily Safra. One year after purchasing the vehicle, Frio had the vehicle assessed by a Porsche expert before preparing it for resale, when they were informed that the Porsche was a fake.
Seinfeld himself said that he didn’t know the vehicle was not authentic when he bought the car back in 2013, and asked the dealer that he bought it from to sort it out with Frico Frio. Unfortunately, the dealer refused, leading the comedian to launch a complaint against the company.
Read: Jerry Seinfeld Sues Californian Dealer That Sold Him ‘Fake’ Porsche Speedster
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“Mr. Seinfeld, who is a very successful comedian, does not need to supplement his income by building and selling counterfeit sports cars,” the complaint said, according to a report from Reuters.
The main reason for the belief that the sports car was a fake stem from the lack of images during its apparent restoration, in contrast to Seinfeld’s auction claims that it is “among the finest restored examples of a highly sought-after four-cam Porsche.”
According to a letter filed on Wednesday in Manhattan federal court, the case is now settled. In addition to the settlement with Frio, the 68-year old comedian also settled the suit he filed against European Collectibles, from whom he purchased the car for $1.2 million.
Seinfeld also allegedly apologized personally to Frico Frio through a voicemail and said “you will be completely indemnified in full and not have to keep the car”, although the money has not been refunded as of yet.
