In addition to working for Warren Buffett, Fort Worth entrepreneur Paul Andrews also owns one of the world’s finest private car collections.
Now the founder of TTI Inc., who sold the company to Berkshire Hathaway in 2007, has decided to pare down the collection overseen by his son, Chris. So 78 vehicles will be sold, each to the highest bidder, at an auction May 2 held by RM Sotheby’s.
The top car in the auction is a 1962 Ferrari 400 Superamerica SWB Cabriolet, once raced by its original owner at the Bonneville Salt Flats and estimated to be worth $7 million to $8.5 million.
According to Sotheby’s, also slated for the auction block:
▪ The famed “Ethel Mars” 1935 Duesenberg Model SJ Town Car, considered one of the most outrageous and ornate of all Duesenbergs, designed with actress Mae West in mind though ultimately delivered new to candy making heiress and horse racing legend, Ethel V. Mars
▪ An authentic 1962 Shelby 289 Competition Cobra, the first Cobra racing car sold to the public.
▪ The 1932 Ford Lakes Roadster Custom by Khougaz, one of the most iconic hot rods in existence, clocked at 141.95 mph at El Mirage Dry Lake in 1949.
▪ A rare 1941 Packard Custom Super Eight One Eighty Sport Brougham by LeBaron, documented as having appeared in The Godfather and worth $40,000-$60,000.
In addition to the automobiles, the sale will feature an eclectic assortment of memorabilia, including neon and porcelain signs, a variety of handmade model cars and a selection of mechanical musical instruments.
Auction previews are Thursday and Friday from 10 a.m. to 6 p.m. at Panther City Classic Auto, 8400 W. Freeway. A digital catalogue is available at http://www.rmauctions.com/digitalcatalogs/2015/AC15/.
The auction begins at 10 a.m. Saturday at Panther City Classic Auto and is expected to last eight hours. It is open to registered bidders. Bidder registration is $200, which admits two to the preview and auction. Admission to the preview is $60 per person.
Remote bidding will take place, including via the Internet, absentee and by telephone, and the auction will stream live at http://www.rmauctions.com.
Southwest not switching to assigned seats
For a brief moment on Thursday, it sounded like Southwest Airlines was ready to end the cattle call part of its boarding process.
During a conference call with investors, Southwest Chief Executive Gary Kelly was asked about opportunities that new technology will bring the airline. In response, Kelly mentioned the new passenger reservation system that the carrier has been working on for the past few years.
“A new reservation system will come with capabilities that we’ll explore, whether it’s code-sharing or whether it’s assigning seats or things like that,” Kelly said. “We’re not, at this point, committed to making those kinds of changes either.”
Southwest has always had first-come, first-serve seating on its flights, leading to long lines at the gates. A few years ago, Southwest launched “early-bird” check-in where passengers could pay an extra $10 for front of the boarding line privileges.
So when Kelly uttered the words “assigning seats,” it raised a few eyebrows. Was this the end to unassigned seating?
In short, no.
About thirty minutes later on the conference call, Kelly clarified his remarks, saying the airline had looked at assigned seating before and dismissed it.
“I was simply offering up an example of the kinds of new capabilities we will get with new technology,” Kelly said. “We have no, absolutely, no thought, no plans, no desire, to assign seats whatsoever.”