BIRMINGHAM, AL (WBRC) - Nine cars from HealthSouth founder Richard Scrushy's personal collection will go on the auction block Thursday. All of the proceeds will go to help pay back shareholders who won their civil lawsuit that accuses Scrushy of fraud. So how much will these cars bring?
By Wednesday afternoon, more than 600 people had toured Weil Wrecker's garage. It's holding the 19 cars that belonged to Scrushy. Every car will belong to someone else by Thursday's end.
"We got antique cars, we got sports cars, bulletproof cars, it's just gonna be a fun time," said shareholders' attorney John Haley.
Bentleys and BMW's headline the newer cars, but most of the potential bidders spent their time in front of classics like a '66 Pontiac GTO.
"I haven't had a chance to look at it real close, look at the paint and everything, but it's a nice car," said classic car expert and part-owner of Old Car Heaven, Jeff Lasicki.
Lasicki has bought and sold hundreds of classic cars. While he can tell you the nickname of a 1947 Nash ("bathtub on wheels"), he can't say exactly what it will bring. But it may not be as much as you think because these cars are rare, but maybe not rare enough. Like the 1929 Cadillac.
"From a serious, serious collectors standpoint, it's not in the higher end of Cadillacs," Lasicki said. "It's a fine car, but it's not the most sought after."
For instance, several auction experts who declined to speak on camera priced the 1966 GTO at only around $25,000, and the '47 Dash at maybe only $10,000.
With classic car prices down 20% because of the recession, shareholders probably won't get back as much as they'd hope, but their attorney is optimistic.
"I'd like to get millions, but i think realistically the cars are worth somewhere around $1 million," Haley said. "That would be the upper line, I think."