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By late March Calhoun decided to give up, too. Seventy touring car chassis remained to be completed when the Dragon plant and its assets were sold at public auction in early April 1908. Gorson Auto Exchange of Philadelphia bought everything, and presumably finished building the last 50 Dragons.
One hundred people attended the public auction and six bids were made. George Billman, a real estate dealer, bought the Reading plant property. The property was estimated to be worth $300,000. [32] George Nagle purchased the name, trademarks, and drawings for $1,900. Levene Motor Company of Philadelphia acquired the assets of Daniels Motor Company.
The Simeone Foundation Automotive Museum is an automotive museum located at 6825 Norwitch Drive in Philadelphia, Pennsylvania. [1] The museum's collection consists of approximately 75 racing sports cars and has been assembled over more than 50 years by Frederick A. Simeone, a retired neurosurgeon and native of Philadelphia.
By 1947, the new building with four lanes to auction vehicles opened and soon the partners realized the general public was purchasing their vehicles at the auction instead of their dealership franchises. This action prompted the partners to make Manheim Auto Auction a dealer-only enterprise, making Manheim the largest auto exchange in 1959. [2]
Some substantial items have been sold at public auction. For example, the United States Navy cruiser Philadelphia was sold at such an auction at the Puget Sound Navy Yard in 1927. In 2021, GSA offered a 0.7501 share of a bitcoin valued more than $38,000 for an auction. [4]
On September 10, 2011, Freeman's held an auction that brought $3.5 million for an Imperial white jade seal from the Qianlong period, triple the highest sale in the company's history. [9] Other notable auction records set at Freeman's include a sculpture by Wharton Esherick as part of their annual Pennsylvania Sale in November 2014. [10]