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In 1915 prototypes were made, but in 1916 capital stock increased to $1,000,000, [2] and Ogren moved his company to a larger factory at Waukegan, Illinois. [3] From 1916 he produced a line of six-cylinder cars but in 1917 the company ran out of operating cash. The factory was sold at auction on Nov. 22, 1917. [1]
The sale, to a private buyer, was for 135 million euros ($142,769,250). It handily outstripped the previous record-setting $48.4-million sale of a 1962 Ferrari 250 GTO at a 2018 auction to become the most expensive car ever sold at auction. Both of these high-dollar sales were brokered by RM Sotheby's. [1]
Mecum subsequently traded his remaining trucks to a North Carolina man in exchange for 40 collector cars; these, in addition to his own collection of 15 cars, prompted him to hold an auto auction. [3] The company's first auction was held in Rockford, Illinois in 1988. It was intended as a one-time event, but was derailed by 90-mile-per-hour ...
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Waukegan (/ w ə ˈ k iː ɡ ən / wə-KEE-ghən) is the most populous city in and county seat of Lake County, Illinois, United States.Located 36 miles (58 km) north of Chicago, Waukegan is a satellite city within the greater Chicagoland area.
This action prompted the partners to make Manheim Auto Auction a dealer-only enterprise, making Manheim the largest auto exchange in 1959. [ 2 ] By 1966, Manheim Auto Auction established itself as the world's volume leader, selling off 45 vehicles per hour or 700 cars/trucks on a given Friday night at the 16-laned auction.