GM Raises Money by Auctioning Historic Cars

A replica of the 1986 presidential limousineThe 1998 Popemobile
Although this won't solve GM's cash problems once and for all,  the Detroit automaker is taking a chance at the Barrett-Jackson Auction in Scottsdale, Arizona by trying to sell some historic cars to enthusiastic collectors.

As reported, about 200 rare GM vehicles will go under the hammer on January 18 in an effort to raise some precious money apart from the federal $4 billion loan. The auction includes units built for use as pace cars for races or made for car shows, including high-performance vehicles made for the annual Specialty Equipment Market Association show.

Even if GM refused to give a complete list of the auctioned cars saving the best as a surprise probably, among the unique vehicles, one can find the white stretch Cadillac DeVille built for Pope John Paul II that comes with a step-up, throne-like chair and platform that rises and falls via hydraulic lift. It seems that the car was blessed by the pope himself (if that has any sort of importance to the potential buyer) “but deemed unsafe by the security team."

Other unique vehicles to be found at the auction is a 1986 presidential limousine replica that has been in movies such as “In the Line of Fire and The American President” or the Buick Blackhawk, built to celebrate Buick's 100-year anniversary in 2003.

 Yet, one thing is certain: the cars for sale don't include the famous Motorama cars of the 1950s.

"We're trying to get the collection to the right size," Tom Freiman, center manager said. "At the end of the day, I think we're going to end up with a better mix of heritage vehicles." He predicts the sale could bring GM less than $5 million.
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