Jerry Seinfeld settles 'fake' $1.5 million Porsche lawsuits
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Jerry Seinfeld has settled a pair of lawsuits stemming from the $1.54 million sale of one of his classic Porsches in 2016.
The 1958 Porsche 356 A 1500 GS/GT Carrera Speedster was one of 17 cars the comedian auctioned at a Gooding & Company event in Florida for a total of $22.2 million.
Three years after the sale in 2019, the buyer of the Porsche, a company called Fica Frio, filed a lawsuit alleging that the vehicle wasn't an authentic factory build and had been converted to resemble the model that was advertised.
This is not an uncommon practice in the collector car world, but a seller is expected to represent their car's origins accurately. Seinfeld claimed he was unaware the car wasn't genuine when he purchased it and reportedly apologized and told the buyer he'd make things right.
Jerry Seinfeld sold this 1958 Porsche 356 for $1.54 million in 2019 (Gooding & Company)
Seinfeld also filed his own third-party complaint against the dealer he purchased the vehicle from in 2013 for $1.2 million, European Collectibles of Costa Mesa, Calif.
The car was one of 17 Porsche's Seinfeld sold for a total of $22.2 million (Gooding & Company)
"Mr. Seinfeld, who is a very successful comedian, does not need to supplement his income by building and selling counterfeit sports cars," it said.
Seinfeld is a well-know n collector of classic Porsche sports cars. (Dimitrios Kambouris/Getty Images for Netflix)
Both lawsuits have now been settled, according to Reuters. Details of the private agreements were not released, but the closures of the suits were documented in Manhattan federal court on June 1.
Gary Gastelu is FoxNews.com's Automotive Editor covering the car industry and racing @foxnewsautos