The Paddock, a company that supplied parts for muscle cars of all varieties for more than 40 years has closed and will sell off all of it’s assets at a July 29th auction to be held at the Avon, Indiana company headquarters. The economic crash and ensuing credit disaster is blamed for the collapse of the company that was started in Knightstown, Indiana back in 1965.
The Paddock was a true American success story, starting off as a small restoration shop and eventually growing to include full line parts catalogs for several classic American car models. The company headquarters is a 60,000 sq/ft building full of parts, cars, equipment, and lots of neat collectible stuff in the showroom.
Everything that isn’t nailed or bolted down, and some stuff that is will be on the auction block on July 29th. Even the company’s intellectual property like the name and trademarks will be for sale. One of the biggest prizes for bidders in the industry will be a customer list that, according to the press release about the auction contains a million names. That’s access to a HUGE marketplace right off the bat.
The Paddock is one of the biggest operations to hit the skids since the economy went south. It’ll be a bittersweet day to see the place get picked apart in July, but at least it will be purchased by enthusiasts and industry folks who will be putting it to good use.
Thanks to MSD’s Robert Martin for the tip on this auction!
Here’s the full press release:
The down economy has claimed another victim—The Paddock, a mainstay in the
muscle car parts business for over 40 years. Indianapolis-based Key Auctioneers (www.KeyAuctioneers.com) announced today that it will
auction the company’s parts inventory, showroom items, collectibles, vehicles,
and equipment at the company’s 60,000-square-foot Knightstown facility.
The July 29 auction is expected to draw thousands of muscle car enthusiasts from
the Midwest and beyond.
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.
Key Auctioneers Senior Vice President Tim Boeglin said the company’s
intellectual property was garnering a high degree of interest. Included in the
intellectual property are the company’s name and trademarks, million-name
customer list, websites, catalogs, and phone numbers.
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. The company’s automotives division has auctioned several
Indy racing teams, including MoNunn Racing, Panther Racing, and Guthrie Meyer
Racing.
For more information about Key Auctioneers, contact Tim Boeglin or (812)
327-5352.
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