Cash-strapped GM to auction historic cars for a measly $5 million
08 Jan 2009
World's largest auto maker, General Motors after being saved from bankruptcy with a $4 billion bailout from the US government, is now auctioning its history by putting on sale 200 of its historic cars including the Cadillac made for Pope John Paul II and a replica of the presidential limousine to raise a measly $5 million for pocket money.
Auctioneer, Barrett-Jackson will auction 200 of GM's historic and unusual vehicles in Scottsdale, Arizona from 11 to 18 January as the automaker finds it expensive to maintain the collection of 1000 odd historic and vintage cars it has at its heritage centre in Sterling Heights, Michigan.
One of the vehicles put for auction is the white 1998 Cadillac Brougham convertible made for Pope John Paul II, which he blessed but never sat in it as it was considered unsafe by security personnel. The vehicle had a step-up, throne-like chair and platform that could be raised or lowered by hydraulic lift.
On sale is also the replica of the1986 presidential limousine, which was loaned out for movies such as In the Line of Fire and The American President as also the hand-built Buick Blackhawk made in 2003 to celebrate Buick's 100-year anniversary.
Another unique car being auctioned is the 1967 GTO used in the action movie XXX while other cars include those made for races or car shows including some high-performance vehicles made for the annual Specialty Equipment Market Association show.
The 1925 House Car, which was built on a Chevrolet 1-ton truck chassis on the lines of a camper before RVs came out in the commercial market and has mahogany trim and maple floors, is also on the list of cars to be auctioned.
The Barrett-Jackson's list of GM's cars to be auctioned does not include the Motorama cars made in the 1950s.
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