Garage Sale
General Motors To Auction Off Vintage Cars, Memorabilia; Will Also Look To Sell Old George Foreman Grill and Scrabble Game Missing a ‘Q’
General Motors announced it will sell part of its Heritage Collection of vintage automobiles in an effort to raise cash and clear out space for more current GM cars which don’t sell.
Around 250 cars are slated to be auctioned off as the company holds its first ever garage sale of older cars. In addition, GM is hoping to sell a barbecue grill and the complete set of Hardy Boy mysteries owned by former GM Chairman William Durant.
GM will send its best salesmen to the garage sale to help negotiate a good price for such classic cars as the 1918 Cadillac and the 1998 prototype Popemobile. The company said the choice of top salesmen was designed to be a warning to typical garage sale “looky-loos” that they shouldn’t expect to walk off the lot with a car by starting out offering 50 cents and then reluctantly moving up to “a whole dollar.”
The auction is expected to raise nearly $20 million for the automaker or enough to keep the company in business for another three hours.
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As usual, GM’s timing is perfect — looming recession means company will get bottom dollar for its collectible car collection
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Photo credit: Everystockphoto.com
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