The National Insurance Crime Bureau recovered a 1981 Ferrari GTSI at the Port of Los Angeles and Long Beach earlier this month.
The car, one of 1,743 of that model made in 1981, was stolen in 1987 from Newport Beach, Calif., while on consignment at a dealership, the NICB said in a news release.
The original owner, who was paid some $37,000 for the insurance theft claim in 1987, has been contacted. The insurance company now owns the car, which will be offered to the original owner to purchase or likely sold at auction. The current value is estimated between $50,000 and $90,000.
Here’s the video of the car and the story, courtesy NICB.