Motorheads Performance
A bizarre classic car auction article surfaced this week. It appears that our Federal Government is auctioning off eight classic cars which had been purchased by an American with money that was embezzled from a Russian company. Not your typical auction by any means!
In an article appearing in today's Houston Chronicle, reports that "The federal government seized the cars after they learned Leigh E. Sprague, an American citizen, used fake emails and a shell company to divert more than $10 million from the Russian company Rusal, according to court documents."
These are the vehicles, which include several American made classic cars:
1937 Packard Super 8
1966 AMC Ambassador 990
1959 Lincoln Continental Mark IV
1949 Lincoln Cosmopolitan
There are also several European classics as well:
1962 Mercedes 220SE Cabriolet
1970 Mercedes Benz 280SE
1937 Bugatti 57C Berliner
(sold at Bonham in 2010 for $205,000)
1938 Peugeot 402BL Eclipse Decapotable
(one of 500 built, with only 50 left)
A unique and diversified collection of American and European classics.
Probably wanting to spare involvement in the case, Sprague's family apparently forfeited claim on the cars which is how the government is now in a position to auction off the vehicles. Reserves have been set by the US Marshals Service and will not be disclosed ahead of time. The auction, which is being held by Houston's Apple Towing/Apple Auctioneers, ends next week. You can contact them with any auction questions at 713-600-7778. Details, more photos, terms of auction and information on registration can also be found on their website below.
REFERENCES:
Houston Chronicle - Feds Auctioning Off Classic Cars Worth More Than $1Million
Yahoo - Feds selling $1 million worth of classic cars bought with embezzled Russian cash
RESOURCES:
Apple Towing - Houstin, TX - On-Line Auction for Seized Classic Cars
Houston Chronicle - News, Sports, Business and Entertainment
ABOUT THE AUTHOR:
Andrea L. Algar is co-owner of a classic car performance and restoration design shop in Leesville, Texas. Motorheads Performance specializes in repairs, maintenance, performance upgrades and restorative work on cars and trucks from the 1920’s through 1970’s. Her husband Guy L. Algar is a Mechanical Engineer with over 25 years experience. He holds 5 ASE Certifications from the National Institute for Automotive Service Excellence and has been working on old cars and trucks for over 37 years. Together they share their passion for old cars and trucks with other enthusiasts from around the country.
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