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Thu January 29, 2009
No Takers For Draud's Hot Wheels
By Tony McVeigh
Frankfort, KY – The Chrysler 300 was up for auction for ten days on eBay this month, but Glenn Mitchell of the Finance Cabinet says no one met the state's reserve price. "We had set a reserve that was approximately the wholesale value of the car and it did not quite reach that."
Mitchell says the highest bid was 17-thousand-600 dollars. The wholesale value of the car is around 20-thousand dollars. A second auction is planned. The state paid 31-thousand dollars for the car, which has a V-8 engine, a hands-free telephone and a global positioning system. Education Commissioner Jon Draud ordered the car, but later apologized for the purchase. Last month, he resigned due to health reasons.