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Auction - Failure or Success?

LONDON (Reuters) - Minardi has raised $1.5 million (770,000 pounds) through an auction of old Formula One cars and memorabilia last month, team boss Paul Stoddart says.

The Australian said on Monday the money would go towards the struggling team's 2005 car.

Stoddart had put his collection of old cars from various teams and surplus merchandise accumulated over the years up for sale but much of it failed to meet reserve prices.

He said only 30 percent of what was on offer, and just 17 of the 39 cars, were sold.

Minardi scored one point in 2004, a considerable achievement for a tail-end team repeatedly lapped during races, with Hungarian Zsolt Baumgartner finishing eighth at Indianapolis.

"I hope to have Zsolt back in the car in 2005 but it's all subject to commercial decisions," Stoddart told Reuters after a meeting of team bosses in London.

"There's no point beating about the bush, it's going to come down to budget."
$1.5 Million!!! Is it me or does that sound low. I would have thought that even 17 cars would have attracted more.


  • Does it also mean that only 30% of the items put up for auction sold?

  • Sounds like it Quig.
  • Well I went to pick up the items I won at auction this morning from Ledbury and guess who should walk in?

    Mr Paul Stoddart

    Having flown back from testing in Italy LAST NIGHT. So has some testing been going on that we're not aware of or the team isn't public about?

    Unfortunately he didn't say anything about the coming season and was only there for a few minutes dealing with the auction people (to whom I did mention the various difficulties members had MCSF, RJ etc) but he did confirm there will be another auction with the unsold/uncollected/unpaid for lots (of which there is loads as of this AM) plus alot of other stuff from stores and his collection.

    This possibly won't be in the same format as this one but more of an e-bay style auction with fixed times for each item and only online so hopefully fewer problems.
  • ^ Excellent :D
  • I've gotten a reply back from the auction house and they have made me an offer on some items that I was interested in. We need to work on their offer though...

    How does MY wing look dude?

    easy - just f'n with ya!
  • and of course the flag GOT sold:rolleyes:
  • Having it sell was not the problem - the fact that YOU did not win it is.

    I demand that the guy who won it SURRENDER THE FLAG NOW!
  • How does MY wing look dude?
    easy - just f'n with ya!
    The wing looks good except for lots of auction stickers and crap on it, but and I don't know if it's the right one but there is still a BETA nose cone in the warehouse.

    However all is not well as the "European Minardi F1" banner I bought actually reads "European Aviation Group". What feckin' use is that I ask you?????????:mad:

    Also they have stuck an auction sticker directly onto one of the photos................
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