Dan Wheldon Memorial Auction Raises More Than $600,000

An online auction of memorabilia dedicated to the late Dan Wheldon raised more than $600,000 for a memorial trust established for his family after the two-time Indianapolis 500 winner died from injuries sustained in an accident in October.

The organizers of the Dan Wheldon Memorial Auction released a final total of $627,203 on Jan. 13 after all items had been officially sold and the funds collected.

"From the very beginning, I have been so overwhelmed by the outpouring of sympathy and the unwavering support of Dan’s friends, his fans and from the racing community," Wheldon’s wife Susie said in a statement. "When Graham (Rahal) reached out to me with the auction total today, I was very touched by everyone’s generosity. I want everyone to know how grateful I am and how much I appreciate everyone’s kindness and their love. It means the world to our family, and I hope one day to personally thank all those who donated and purchased the auction items."

Rahal, a competitor in the IZOD IndyCar Series, started the auction when he announced that he planned to auction off his helmet, shoes and gloves from the Las Vegas race and donate the proceeds to Wheldon’s family. As word spread about his gesture, personalities from the sports and entertainment world began donating items for Rahal to auction off. Within just a few days, the auction grew too big for Rahal to handle alone. It was taken over by eBay, which waived all fees, and Auction Cause, an auction management agency.

"We’re beyond floored with the outpouring of love you have all shown," the organizers said via their Twitter account. "(We) couldn’t have done it without you all! Words can’t express our gratitude! Every little bit helped and will make a difference for the family."

When Your Shop Is Worth Much More Than You Thought

Although every sale of a shop in which I am involved has its own unique set of circumstances, which makes my job both very interesting and very challenging, Cowden Automotive stands out as particularly memorable because I was able to demonstrate to the long-time owner, Paul Cowden, that his business was worth about three times what he had initially thought.

Case Study: Owner of San Francisco-based Import Service Shop Delighted to Discover Just How Valuable His Business is to Qualified Buyers
I sometimes share case studies of the clients I have been able to assist in my role as an aftermarket business broker and provider of intermediary and advisory services. I do that when I think the story will provide a reader in similar circumstances with new insights or helpful information.
In the case of Cowden Automotive, Inc., I acted in a consulting capacity assisting the owner and his broker in valuing the business, creating a marketing plan, finding a qualified buyer, and arranging financing for the sale.
Although every sale of a shop in which I am involved has its own unique set of circumstances, which makes my job both very interesting and very challenging, Cowden Automotive stands out as particularly memorable because I was able to demonstrate to the long-time owner, Paul Cowden, that his business was worth about three times what he had initially thought.
Needless to say, delivering that kind of good news to a shop owner is a rewarding experience. Discovering that the sale of his business would result in his retirement nest-egg being substantially larger than he had ever thought was a fitting tribute to someone who had spent his entire working career as a busy automotive service shop owner.

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