Dh6 million offer made for impounded luxury Ferrari

Dubai - Only about 300 cars of this type - which Emarat Al Youm notes trade at nearly Dh11 million - exist in the world.

A legal dispute has put the sale of a multimillion dirham luxury Ferrari on hold, after an alert was issued by Interpol and the car was seized by Dubai Police for traffic violations. 
A report carried by the Arabic daily Al Emarat Al Youm on Tuesday quoted Colonel Saif Mohair Al Mazrowaei, Director of the General Traffic Department of Dubai Police, as saying the 2002 Ferrari is a limited edition model made on request for customers. Only about 300 cars of this type - which Emarat Al Youm notes trade at nearly Dh11 million - exist in the world.
The car has been impounded for six years, the newspaper noted. 
A UAE resident purchased the car from another person, but it appeared that a red alert had been issued for the vehicle by Interpol and circulated to Dubai Police. 
The car, Col. Al Mazrowaei noted, quickly came to the attention of rare car enthusiasts, and a U.S. citizen offered Dhs6 million to buy the vehicle, but was unable to get it released from the police vehicle impound lot or sold because of the ongoing litigation. 
Col. Al Mazrowaei said that departmental records indicate that the Dubai Police impounded 4,479 vehicles in 2015, an 11 percent increase from 2014's total of 4,267. 
"There were motor vehicles belonging to motorists who had fines levied on them as a result of violating the traffic rules exceeded Dhs 6,000, the maximum allowed level as per the decree no 29 issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, vice president, prime minister and ruler of Dubai," he said. "The Department contacted the owners of the withheld cars to report to the department and pay the accumulated amounts until their cars are not impounded for further periods." 
Additionally, he noted that Dubai police offer payment on installments in such cases, and that there is no specific period of impoundment of vehicles in case violations are multiplied or accumulated. Once the value of the fines is paid, the car is released to its owner. 
If a car is impounded for three months or more with the owner filing a report or rectifying any irregularities, the police reserve the right to showcase the vehicle for sale.  
reporters@khaleejtimes.com

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