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Filed under: Aftermarket , Time Warp , Tuners , Auction Action , Government/Legal , Ford , Shelby The epic saga of Unique Performance and its fall from grace isn't over yet. An auction was held in March to help clear the bankrupt company's back debts, but it only raised $1 million. That wasn't enough to compensate the many ripped-off owners and fleeced employees, not to mention the federal government. Auction firm Rosen Systems has a new, very spare listing on its website for another Unique Performance auction coming up on the 24th of June. The scarce information offered by Rosen Systems only states "approximately 40 Mustang Fastback shells, body parts, tools, lifts." A catalog of items to be offered for this online-only event has yet to be released, but it's safe to assume that these are the items that failed to sell the first time around. We're not sure we'd consider this auction a good way to get a viable Mustang body unit, with reports of multiple gallons...
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Filed under: Aftermarket , Etc. , Government/Legal The ongoing saga at Unique Performance came to another disappointing conclusion this past weekend when the remaining shells and equipment were unceremoniously auctioned off. The 40 former employees of Unique Performance (plus another 100 that were also owed cash) were hoping that the proceeds from the fire sale would be enough to cover their back-pay -- unfortunately, that wasn't the case. All told, the auction brought in $1,037,000, of which $900,000 was instantly taken by the feds to clear UP's outstanding debts. That left $137k for the unemployed workers, or about $978 per person - what we're guessing is just a drop in the bucket for both what they're owned and the legal fees they've amassed since Unique Performance went belly-up last November . [Source: Jalopnik ] Read | Permalink | Email this | Comments
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Filed under: Aftermarket , Tuners , Government/Legal , Earnings/Financials , Lifestyle , UK The phrase "cost is no object" was redefined last week when an aftermarket tuner dropped close to a cool million on a license plate. Yes, a license plate. The "F1" plate was first registered in the UK 104 years ago, when it was more likely a two-digit coincidence than a vanity plate, and until recently was used on a Volvo S80 owned by the chairman of the Essex County Council. F1 chief Bernie Ecclestone and former F1 driver Eddie Irvine had tried to snatch it up in 2005 at Goodwood, but failed to meet the reserve. Last week at auction, Afzal Kahn, head of the Kahn Design and Project Kahn aftermarket tuning house, placed the winning bid of £375k, which comes to more than £440k with tax (the equivalent of about $873,000). The price beat the previous record of £331k paid at a Bonhams auction in 2006 for the "M1" plate, but may yet be beat when the UK's...
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Filed under: Aftermarket , Tuners , Government/Legal , Ford Foose Design and the man for which the company is named, Chip Foose, announced last Friday that it is severing all ties with Unique Performance. The Dallas-based company had agreements with Foose to produce the Foose Mustang Stallion (pictured), Foose Camaro, Foose Challenger and Foose Motorcycle, as well as handle the sales and marketing for the Hemisfear . The break up comes after Shelby ended its relationship with the Unique last month, and a police raided Unique's facility last week for suspected title washing. Foose Design wants to let its customers know that it now has no affiliation whatsoever with Unique Performance, and that Unique does not have any rights to anything regarding Foose for any project. Follow the jump for the official press release from Foose Design. [Source: Foose Design] Continue reading We're out too! Foose Design also cuts ties with Unique Performance Permalink | Email this | Comments
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