Parker Proposal - Collector Motor Series 2024

Collector Motor Series Auction Bi-Annual Auctions | May 2024 Barber Vintage Motorsports Museum | Birmingham, AL

Proposal for the curation and sale by auction of the Collection of Dr. and Mrs. Jerry Parker

225.819.7740 | 225.363.8488

13340 Florida Blvd. Livingston, LA 70754

November 11, 2023

Dr. and Mrs. Parker,

First, we would like to thank you for allowing us the opportunity to present these proposals to you. We greatly appreciate you inviting us to view your collection and it was fantastic meeting you both. We have completed market research on all the vehicles considering current conditions. We used current market values of similar vehicles to reach an estimated range of the total hammer price for the collection. This range contemplates mechanical repairs deemed worthwhile for certain cars to make them auction ready. We also considered the parts, spare engines, memorabilia, and other items in your collection. We present you with three separate proposals for your consideration. We have attempted to explain them clearly, but please do not hesitate to reach out if you have any questions or need clarification on any part of the proposals. Again, we thank you for your kind consideration and we appreciate your patience while we prepared this proposal for you. Our auction estimate is a total hammer price between $500,000 and $750,000.

Kindest regards,

Lawrence Green, CEO

Benjamin Hocevar, National Account Manager; Collector Motor Series

225.819.7740 | 225.363.8488

13340 Florida Blvd. Livingston, LA 70754

Proposal A

Our first option for you is to consign your collection to our auction as we would do so normally. The terms of our regular agreement are a 6% commission on the hammer price with no entry fee for no reserve vehicles or for reserve vehicles an 8% commission on the hammer price plus a $300 or $600 entry fee depending on if the vehicle is inside the museum or outside in our tent space.

For memorabilia and parts, the terms are 15% commission at no reserve.

This option means that you would be responsible for getting the vehicles ready to your acceptable condition and delivering them to the museum by the appropriate date before the auction.

Proposal B Our second option for you is to have us purchase the vehicles, parts, and memorabilia. This means that we would assume the responsibility and significant expense for all mechanical work and auction preparations. We would need to store the vehicles at your building while we complete these preparations, but we would move the vehicles elsewhere to complete any mechanical or detailing work. We would coordinate with you the logistics and payment on mutually agreeable terms if this is the option that you choose. The titles and registrations would have to be worked out and settled as well.

Our offer for outright purchase is $350,000.

225.819.7740 | 225.363.8488

13340 Florida Blvd. Livingston, LA 70754

Proposal C

Our third option for your consideration is a sale price guarantee of $450,000, with a sharing of the proceeds that exceed that guarantee. That guarantee of $450,000 would be paid regardless of the hammer price, minus our expenses and commissions and you will be paid following the auction.

We would still assume the responsibility of the mechanical work and auction preparation, but these expenses would be recovered from the guarantee.

Any sums realized exceeding our set guarantee number, we would split with you evenly.

For example, the guaranteed price is set at $450,000 and the final hammer price is our low estimate of $500,000, then you would receive a total of $360,000. ($450,000 plus $10,000 -your share of amount over guarantee - minus an estimated $100,000 of preparation expenses). At a final hammer price of $600,000, you would receive $407,000. ($450,000 plus $57,000 -your share of amount over guarantee - minus an estimated $100,000 of preparation expenses). At our high estimate of $750,000, you would receive $477,500. ($450,000 plus $127,500 -your share of amount over guarantee - minus an estimated $100,000 of preparation expenses).

In this option we share risk and share in the upside reward.

Contrasted with option B, which we assume all the risk and the upside reward. Contrasted with option A, which you assume the risk but keep the upside reward minus any sales commission.