January 18, 2009 GM: Everything must go!
Four years ago, today, marks the end of a weeklong auto auction GM held in Scottsdale, Arizona. Scottsdale, also know as a home for a minor auction company called Barrett Jackson. The big deal with the auction GM was holding? The cars going on the block were from GM’s heritage collection, 200 in total. This being 2009, it looked as if GM was having a “Bob’s furniture-liquidation-everything-must-go” going out of business sale. Them filing for chapter 11 bankruptcy five month later didn’t help. But it was justified purely a something car companies “regularly do”. The cars that went up for auction? A 1996 Buick Blackhawk concept car that went for $522,500, a 1969 Chevrolet Camaro ZL-1 COPO Coupe fetched $319,000 and the gavel dropped on a1959 Chevrolet Corvette convertible for $220,000. And for 57,000 someone bought a 1998 Cadillac Brougham, which was blessed by and built for the pope. With all those cars going under the gavel I'm sure GM overlooked the kitchen sink... probably because it was bolted down. Source: History