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Americas Auction Report 2.10.12 E-Edition
Americas Auction Report 2.10.12 E-Edition
LIVE AUCTIONS!
AP- BOCA RATON, Fla - Say goodbye to the twirling carousel, the rows of perfectly shined classic cars, the player pianos and jukeboxes. They're selling all the neon signs, the slot machines, the antique guns, the Tiffany lamps, the hulking chandeliers. There will be no more rare organs or vintage gas pumps or the Army airplane gliding overhead, none of this out-of-this-world collection that took a lifetime to amass. It will all be gone soon, before most people ever knew it existed. Two brothers, Bob and Paul Milhous, are liquidating their one-of-a-kind private mu-
seum after spending decades scouring the world to find its gems. The Milhous Collection, as the items in their 39,000square-foot building have become known, head to the auction block next month, estimated to fetch around $40 million.
see Museum page 3
Crossword.............................................................................page 2 Elles Kitchen.........................................................................page 2 Solyndra Auction Cancelled..................................................page 6 Wine Cooler Owned By George Washington auctioned.......page 6
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PERMIT NO.
NASHVILLE TN
PRSRT STD U S POSTAGE
PAID
167
Elles Kitchen
Page 2
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Crossword Fun!
2 lb ground chuck 2 eggs 2/3 cup oats 2/3 cup milk 2 small [8oz] cans tomato sauce 2 med. onions, chopped 2 teaspoons of salt 1/4 teaspoon of ground black pepper 1/4 teaspoon garlic powder [optional] ketchup Combine: eggs, oats, tomato sauce, salt, pepper, garlic, and onions [chopped], . Add ground chuck. Mix thoroughly. Place in a 9x13 baking dish. Pour 1/4 to 1/2 cup of ketchup over meat and smooth with a fork. Cover with tin foil. Bake in a 350 de-
gree pre-heated oven for 1 hour and 15 minutes. Remove foil and bake for 15 minutes more. Dip or drain as much liquid from the pan as you can.
1 medium sized head of cabbage 3 medium sized carrots (scraped) 1 medium sized onion
if eaten while lettuce is still crunchy, so don't make this one the night before.
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from page 1
. . .Museum
"Our time's kind of up with them," said Bob Milhous, who at 75, is the elder brother. "It's time to move on." The men first started picking up collectible cars and rare automated musical instruments a half-century ago, but they never knew it would grow into this. Their hobby became something of an obsession, with them buying so furiously their collections outgrew their own homes, then spilled into a succession of three increasingly larger spaces, until they built a new museum here, within a suburban corporate park, in a nondescript building that gives no hint of its holdings. "Our wives say, 'Most people go to the museum and buy a postcard,'" recalled Paul Milhous, 73, "'You go to the museum and buy the museum.'"
What they have built is part carnival, part sparkling car showroom. It has both Vegas glitz and the refrained elegance of a Prohibition-era speakeasy. You find yourself in a room of thick red drapes, a massive crystal chandelier and a variety of musical instruments that line the walls then, moments later, in the glow of neon, surrounded by the chrome and steel of collector cars. Quite simply, you've never seen anything like it. "People come here and they leave amazed and then they try to explain it to somebody what they saw and it just doesn't work," Paul Milhous said. The Indianapolis-born brothers are distant cousins of President Richard Milhous Nixon. They made their fortune in the printing business, making circulars and comic strip inserts for newspapers. They sold off that business in the 1990s, but were involved in a
string of other manufacturing pursuits, making plastics, metals, ink, foam and on and on. They still have involvement in a number of real estate ventures, but have liquidated other businesses in their holdings as they plan their estates. Giving up all their prized collectibles is part of it. "'Don't leave this burden to us," Paul Milhous recalled his and his brother's wives saying. And, so, on Feb. 24 and 25, it will all be sold. Two auction houses, RM Auctions and Sotheby's, have divided it up into more than 550 lots, each to be sold to the highest bidder.
continued on page 4
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from page 3
. . .museum
There is the whimsical: Dozens of vintage toy cars, giant toy soldiers that once stood at FAO Schwarz in New York, funhouse mirrors and carnival sideshow banners. There is artwork, fine furniture and the contents of a turnof-the-20th century barbershop. But the real highlights are in the Milhous collections of classic cars, the mechanical musical instruments and the carousel that is the centerpiece of their museum. There are 29 cars, 5 motorcycles, 2 tractors, a motorbike, a popcorn and peanut wagon and a PT-22 airplane. Among the cars is the only known surviving 1912 Oldsmobile Limited, which is estimated to bring bids around $1.5 million. The instruments include music boxes, player pianos, band organs and orchestrions, which are made to simulate the sound of an orchestra all in one piece. There are dozens of theater, fair and dance organs. At least eight of the instruments have price estimates that exceed $1 million each. Many are elaborately decorated with oil paintings, stained glass, gold leaf and moving figurines. Still, nothing in this eclectic palace draws the eye more than the carousel. The brothers searched for years for precisely what they wanted. When nothing turned up, they had one built, with 42 animals hand-carved from basswood and a Wurlitzer band organ. Its estimated price is $1 million to $1.5 million.The museum has been kept so private over the years the idea of opening it to the public for an auction makes the brothers a bit uneasy. It has played host to many charity events, but whenever they've opened it up, it has been to limited audiences, with off-duty police officers hired to stand guard over their prized possessions. Now, anyone who buys a $120 auction catalog will be able to come to the preview. For now, t h e y ' r e preparing to bid farewell to it all, and enjoying their final moments with it. On a recent tour, they recalled their first purchases and remembered all the places they've driven their many cars. And as they walk into a dimly-lit second-floor room of the museum, its walls lined with all types of instruments, only one question comes from Paul Milhous' lips. "What do we want to play?" he asks.
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ABSOLUTE
ALL DA SALE Y
RAIN SHIN OR E
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Come prepared to buy at YOUR price!! Dont Miss This Sale! Make Your Plans NOW to attend!
Terms: There will be a 5% Buyers Premium added to the final bid to establish the purchase price. The winning bidder will be required to put down a 10% NON-REFUNDABLE deposit as earnest money and sign a sales contract with all pertinent addendums. Closing will be on or before March 19,2012. Seller will furnish a general warranty deed and title insurance. Possession will be date of deed. Make all financial arrangements prior to the sale as we are selling for CASH with NO Contingencies.
3% AGENT
REFERRAL
A 3% Referral to a licensed Realtor who pre-registers the final bidder at least 24 hours in advance and is present at the sale. No Exceptions! Registration Form on Website.
www.Proxibid.com/TimBrewer
Information in this ad is believed to be correct but not warranted. Any announcement made day of sale takes precedence over all other advertising.
Email: Tim@TimBrewer.com
Page 6
Solyndra LLC, the failed solar-panel maker that got $535 million in government loan guarantees before filing for bankruptcy, will again cancel Thursdays auction in Wilmington after failing to draw any offers to continue operating the company, a financial adviser said. "Solyndra did not receive any acceptable bids to acquire the business on a turnkey basis," Solyndras financial adviser, Eric Carlson with Imperial Capital LLC, said in an e-mail today. "Solyndra will be withdrawing its sale motion without prejudice and is moving forward with the court-approved auctions of its core assets," Carlson added. The auction was intended to keep the company operating and potentially resurrect the jobs lost by some of Solyndras former employees. The company set up a supplemental auction in case Thursdays sale fell through. The piecemeal sale of the companys assets will begin with the first round starting on Feb. 22. The solar-panel maker has twice delayed the auction of its business after failing to draw any acceptable bids, court documents show. The company, based in Fremont, Calif., sought Chapter 11 protection Sept. 6. Two days later its offices were raided by the Federal Bureau of Investigation. The solar-panel maker listed about $854.1 million in assets and about $867.1 million in debt in court papers filed Oct. 31. Solyndras collapse prompted congressional scrutiny of President Barack Obama, who praised the company during a May 2010 tour of its facilities. The company faces a probe by Republicans in Congress over the federal loan guarantee it used to build a $733 million factory.
Congressional Republicans have questioned the size of government loans made to the fledgling solar-panel maker and whether the Obama administration properly evaluated its potential.The Republicans have also questioned whether political favoritism may have played a role in awarding the government loan guarantee due to the companys ties to an Obama fundraiser, billionaire George Kaiser. Argonaut Ventures, the investment arm of Kaisers charitable organization, holds almost 39 percent of Solyndras parent, 360 Solar Degree Holdings Inc. Kaiser raised or bundled $50,000 to $100,000 for Obamas 2008 presidential run. In addition to the congressional probe and the FBI investigation, Solyndra has been subpoenaed by a federal grand jury, court documents show. The subpoena was disclosed in billing records submitted to the bankruptcy court by its special counsel, K&L Gates LLP. The back-up auction will be conducted on an asset-by-asset basis or lots of similar items, according to court papers. Potential buyers will have to submit what items they intend to bid on and present proof that they have the financial wherewithal to complete the sale. The auction would be held on- site and online. Within two business days following the end of that auction, Solyndra will submit a report to the bankruptcy court detailing the winning bidders and the amounts they paid for each item. The case is In re Solyndra LLC, 1112799, U.S. Bankruptcy Court, District of Delaware in Wilmington.
An inventory written by Washington describes the silverware bought by him and by the federal government. Of the four coolers that he purchased, Washington took two to Mount Vernon, sold one, and presented the fourth to Hamilton, underscoring the importance of their 22-year relationship. A letter that Washington sent to Hamilton with the wine cooler was engraved on the object by Hamiltons descendants ensuring that its remarkable history would never be lost.
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AUCTION
Sale!
70+/- HEAD OF COWS & CALVES - TRACTORS HAY EQUIPMENT FIELD EQUIPMENT CATTLE EQUIPMENT - GUNS MOTORCYCLE 4 WHEELERS - TRAILERS 4249 ROY COLE ROAD, SPRINGFIELD, TN BETWEEN SPRINGFIELD & CROSS PLAINS, TN
CONSIGNMENTS WELCOME CALL AUCTION OFFICE PLEASE CONSIGN EARLY TO GET IN ADVERTISEMENTS Contact Ed Cope 615-533-9234 Jimmy Tyler 270-726-0548 or Bobby Blackford 270-725-0136.
CATTLE CATTLE EQUIPMENT - 70+/- Cows & Calves mostly black - Squeeze Chute - WW SweepGates Corral Panels - Bobcat Skid Loader 887 hrs Model 751 Cattle Info Several cows will be offered with 200-400 lb calves in groups all cows vet checked, with info available sale day. Many cows out of KY-TN select sale. Gun Info All guns sold under ATF Rules. All guns will be cleared by licensed firearms dealer. Buyer will pay background check fee. No guns will be available until sale day for showing. TERMS: CASH DAY OF AUCTION BANK LETTER OF GUARANTEE WITH ALL BUSINESS OR PERSONAL CHECKS NO EXCEPTIONS! All equipment and livestock offered in AS IS WHERE IS condition day of auction. All announcements made day of auction take precedence over any oral or printed information. Some local consignments by local farmers.
ROBERT L. BLACKFORD
Real Estate Broker, Auctioneer
Call 1-800-790-8075
TNFL #2751