Insurance CEO sues British auction house

Vintage Porsche at the centre of the lawsuit

Insurance CEO sues British auction house

Insurance News

By Terry Gangcuangco

Andreas Pohl, the chief executive of Frankfurt-based insurer Deutsche Vermoegensberatung, has taken British auction house Coys of Kensington to court over the purchase of a vintage Porsche.

A report by The Telegraph over the weekend said the classic car enthusiast bought the Porsche 911 Carrera RS 2.7 from the specialist dealer in late 2018 for £390,000, and is claiming to have been misled over the vehicle’s true condition when it was sold.

Pohl, according to the publication, described the vintage automobile as unsafe to drive, alleging in a High Court case that it had apparently been rebuilt and fitted with inauthentic parts prior to the transaction.

“The claimant purchased the car in reliance upon and induced by the representations,” stated the insurance CEO’s claim, as quoted by the report.

Coys, meanwhile, has submitted its defence in which it pointed out Pohl’s supposed satisfaction over the vehicle’s condition and authenticity at the time of the sale.

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