10/21/2006 OTIS CHANDLER COLLECTION AUCTION

OXNARD, CALIF. - The bidding should easily top $1 million for at least three automobiles, with the final total surpassing $20 million, during the upcoming auction of Otis Chandler's unique, automobile, motorcycle and automotive art collection at the Vintage Museum of Transportation and Wildlife conducted by Gooding & Company. "This is the single most important vehicle collection to come on the market in over 20 years. Many of the cars and motorcycles are one of a kind or the finest examples in existence" he said. "Otis was a passionate enthusiast, with eclectic tastes, which is reflected in vehicles ranging from a 1904 Mercedes 40/45 Sports Touring to a 1934 Packard 12 Two Place Coupe by Dietrich to a 2004 Porsche Carrera GT. It will be the most important single-collection sales since the Harrah's automobile collection was sold in the 80s, a sale which was stretched out over five years. The Chandler sale will happen in one day. Offering the sale without reserve should make for some spirited bidding!" The Chandler auction will begin at 2 p.m. Saturday, October 21, following the viewing of the collection at the museum. A 1933 Packard 1006 Twelve Sport Phaeton is expected to bring one of the highest prices, carrying an estimate ranging from $1.6-1.9 million. A 1904 Mercedes 40/45 HP Sports Touring ($1.4-1.7 million) and a 1931 Duesenberg J Special Phaeton ($1.3-1.7 million) should also break seven figures. Two Harley-Davidsons should bring the highest bids on motorcycles with the 1907 440 CC Strap-Tank Single expected to fetch $375,000-$425,000 and the 1911 7D 811 CC Twin between $185,000 and $225,000. "But you never know in an auction like this" said Gooding. "I'm sure we will be surprised and have many of the vehicles go beyond our estimates. We expect some record-breaking prices by the time the gavel falls on the final lot." Chandler, who passed away in February 2006 at the age of 78, was best known for his business acumen, having transformed the family-owned Los Angeles Times from a regional newspaper into one of national significance that was the cornerstone of the Times-Mirror media empire. The auction catalogue can be purchased for $85 through www.goodingco.com.