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General Motors is heading back to the block. No, not the chopping block (not yet)… the auction block. In an effort to trim costs and create a little petty cash, the struggling automaker will send 100 vehicles to the Barrett-Jackson auction in Palm Beach, Fla., which starts this Thursday and runs through the weekend.
Included on that list was a highly modified 2003 Chevy Aveo Xtreme in bright green, a 1989 Geo Metro Zonker, a 1986 Presidential Limo from the film The American President staring Michael Douglas and a 1998 Popemobile that was never used by the Pope.
The new lineup of cars promises to be more compelling and includes a 1920 Chevrolet Model T truck, a 1999 Camaro Z/28 from the movie “Runaway Bride,” and one of four 1978 Corvette Indy 500 pace cars.
“Every little bit counts. It costs a lot to house that many vehicles,” Greg Wallace, manager of GM’s Heritage Center “corporate” museum told the LA Times.
Car collectors will do doubt jump at the opportunity to buy a piece of GM’s history but we’d advise them not to spend all their cash at once. When GM opened the Heritage Center in 2004, they filled it with 350 of the most important vehicle’s in the company’s long history. This, however, left a lot of other vehicles standing idly by (pun intended).
Of the remainder, roughly 450 have been earmarked for auction, so if you take away the 230 that already sold and the 100 from this weekend’s Barrett-Jackson event, there are still 120 models left.
On January 13th at the Barrett-Jackson auction you will be able to buy a piece of General Motors history – and the company certainly hopes you do. GM has made the decision to sell off 250 rare vehicles to not only create some much-needed revenue, but also to reduce upkeep costs. Apparently each vehicle in GM’s “Heritage Collection” costs the company $2,000 a year in upkeep and storage costs.
According to a report in Business Week the vehicles marked for sale are those that the current executives aren’t big fans of, and we can’t blame them.
For starters, the list includes a 2003 Chevy Aveo Xtreme in bright green with all sorts of Fast & Furious add-ons including a big brake upgrade and 17-inch rims. Possibly worse is a 1989 Geo Metro Zonker, which features all sorts of extras above and beyond a standard Metro. GM estimates they may only get as much as $5,000 for this car. Another dud is the 2004 Saturn Ion Red Line. Arguably it’s not a terrible car with a 205hp supercharged Ecotec engine but those who really want one don’t really need to go to Barrett-Jackson.
The most notorious vehicle going up for auction is a 2001 Pontiac Aztek – the epitome of poor automotive design. Shockingly GM still plans to get at least $20,000 for this monstrosity.
Other bizarre creations include a 1986 Presedential Limo that was used in the film The American President staring Michael Douglas. Topping that is a 1998 Popemobile that was never used by the Pope. GM expects to sell each of these creations for at least $75,000.
The list also includes a 1955 Buck Centry Bolero, a 1918 Cadillac, a 1960 Chevrolet Impalla (Snoop, we’re looking at you), a 1970 Cutlas SX and a 1996 Buick Blackhawk.
One surprising item might just be the Solstic Jazz from the 2007 Transformers movie. GM expects it to fetch $50,000 but it could go for far more if the right buyers are interested.
GM’s Heritage Collection Rejects:
[Source: Business Week]