$2.4M raised for Northwood University through classic car auction
MIDLAND, MI — In December, Northwood University introduced an auction of the vintage vehicles from a collection assembled in excess of numerous many years by Michael and Dianne Morey, founders of Bandit Industries, best known for its woodchippers.
According to a release from Northwood University officers, Bandit made and released the world’s very first self-propelled keep track of total tree chipper in 1990 and continues to lead the marketplace with a community of additional than 180 vendor places worldwide with 725 workers.
In 2018, the Moreys offered the corporation to their worker group, rather than accepting two offers to market from personal firms.
The collection was donated by the Moreys to Northwood University to support increase an approximated $2 milion, a purpose surpassed by $371,000.
The 35 pledged vehicles were being auctioned off at Mecum Auctions in Kissimmee, Florida on Friday, Jan. 6.
University President Kent MacDonald in a statement expressed his gratitude for the donation.
“The Moreys are stellar examples of how ingenuity, persistence and commitment pave the way for good results in a absolutely free-marketplace society,” Justin Marshall, main improvement and engagement officer for Northwood College, said in a statement. “Each car the Morey family donated was part of their family members story, and the story now evolves with Northwood University inspiring the goals of youthful business owners from all through the planet.”
At the finish of Friday’s auction, Mecum Auctions announced that two of the Morey motor vehicles were the major two automotive revenue of the day.
A breakdown of the most beneficial autos offered contains:
- A 1967 Shelby GT500 Fastback, offering for $330,000,
- A 1970 Plymouth Hemi Cuda, marketing for $275,000,
- A 1981 Teledyne Continental Cheetah, marketing for $65,000
Auctioneers reported the 1981 Cheetah sale was the most surprising due to the fact it offered properly outside of its appraised price.
Northwood College will benefit from up to $1 million of the hard cash proceeds to enrich the campus knowledge, officers said. The remaining proceeds will be made use of to create the university’s endowment to make new scholarship prospects for Northwood learners.
Money lifted by the automobile auction will go in direction of a $1 million university improvement energy, officials mentioned. The remainder will support both a new endowment to build university student scholarships and allocation to The Northwood Plan, a assist system aimed at encouraging the school’s value established and founding ideologies.
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