US Houston car auction features classics, exotics

Vehicles from investment-grade to entry-level, are being showcased here.

Updated: Apr 05, 2013, 14:39 PM IST

Washington: An ongoing car auction in the fourth largest US city of Houston offers collector car lovers and potential buyers a close look at more than 7,500 classic and exotic cars.

Mecum Auctions, which is returning to Houston for its second annual collector car auction, generates increasing excitement as the consignment list consistently grows, now more than 30 percent larger than last year's auction, according to event organizers.

A huge variety of collector vehicles, from investment-grade to entry-level, are being showcased at the three-day event that began Thursday, reported Xinhua.

Highlights include 25 consummate classics from the Gerald Byrd Collection with everything from muscle machines to time-honoured, luxury rides.

More than 30 handpicked selections from the expansive and diverse group of vehicles in the Lynn Wardley Collection also joined the lineup. The Gerald Byrd Collection featured cars ranging from a 1930 Studebaker Dictator to a 2009 Audi R8.

The Lynn Wardley Collection featured more custom rides than Byrd's. A handful of street rods are for sale as well as a few muscle cars.

Collector cars rolled to the Houston auction from all over the country as well as from cities in Texas, said Sam Murtaguh, managing director of the auction.

The Mecum Auction Company has been specializing in the sale of collector cars for 26 years, now offering more than 15,000 vehicles per year and averaging more than one auction each month, company officials said.


Samsung Electronics estimates operating profit

Seoul: Samsung Electronics estimated Friday the record level of operating profit for the first quarter.

The preliminary operating profit was estimated at 8.7 trillion won ($7.73 billion) in the January-March period, slightly down from a previous record high of 8.84 trillion won tallied in the fourth quarter of 2012, reported Xinhua.

Sales were estimated at 52 trillion won in the three months ending March 31, down from 56.06 trillion won in the previous quarter.

Samsung did not unveil its estimate for net profit and a breakdown of each division. The final results will be announced after auditing and approval of board of directors.