Inventory, Memorabilia, Equipment, and Real Estate to be Auctioned at Company’s Knightstown, IN Facility on July 29.
KNIGHTSTOWN, IN – July 26, 2010. Hundreds of muscle car enthusiasts from around the country are expected in Knightstown for Thursday’s auction of one of the industry’s longtime parts suppliers, The Paddock. According to Indianapolis-based Key Auctioneers (www.KeyAuctioneers.com), the company’s parts inventory, showroom items, collectibles, vehicles, office furniture, technology and warehouse equipment will be auctioned, as well as the company’s 60,000-square-foot facility and 22-acre campus.
The massive auction will require 2 auction rings running all day to sell the 65,000 parts and other assets. The sale will start at 10:00am on Thursday. Bidders will be able to preview inventory and other auction items on Wednesday from 10 am to 4 pm.
Key Auctioneers Senior Vice President Tim Boeglin said the company’s intellectual property, including the company’s name and trademarks, million-name customer list, websites, catalogs, and phone numbers, have already been sold by Key.
The Paddock has been a leading supplier of muscle car parts for several decades. Its thirteen parts lines represent some of America’s most popular muscle cars, including Mustang, Corvette, GTO, and Camaro.
Company founder Jim O’Neil started The Paddock in 1965, restoring muscle cars in a small shop in Knightstown. By 1979, the company was manufacturing Mustang steel patch panels. The company’s first Mustang catalog was printed soon thereafter and the company started to grow by word of mouth. In 1980, the first Camaro catalog was printed. In 1998, Wes Watts, a former parts manager for the local Chevrolet dealership, purchased the company from O’Neil.
Over the years the company added Firebird, GTO, Chevelle, Nova, Cutlass, Impala and other catalogs to its muscle car line. In 2001, Watts built a state-of-the art 60,000-square-foot facility to accommodate his growing business.
According the Watts, the economic downturn of the last three years, along with the credit crisis, contributed to the company’s demise.
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About Key Auctioneers
Key Auctioneers is an Indianapolis-based auctioneer of commercial, industrial, and real estate assets in Indiana, Kentucky, Ohio, Illinois, Michigan, and Missouri. Key Auctioneers provides businesses owners and secured creditors a full range of services to protect, market and auction business and real estate assets.
For more information about Key Auctioneers, contact Tim Boeglin at tboeglin@KeyAuctioneers.comor (812) 327-5352.