Texas kitchen entrepreneur Gene Ponder is selling his extensive collection of more than 130 European sports cars, valued at more than $20 million.
The Gene Ponder Collection spans 92 years and touts a number of hand-crafted recreations, many of which are unobtainable European sports cars seldom seen outside museums or prestigious private collections.
“These old cars built in the ’30s, ’40s and ’50s are works of art,” said Ponder, who’s confident every car will be sold. “Nowadays, they’re made out of plastic.”
The luxury cars currently reside in Ponder’s five-building garage at his estate in Marshall, Texas.
“Every aspect of this property revolves around the vehicles, the memorabilia, and Mr. Ponder’s love for all things automotive,” auction coordinator Thatcher Keast said in a statement. “We are thrilled to bring this collection to market as there is truly something for every type of collector within Gene’s collection.”
According to a news release, cars featured in the collection will include:
- A 1960 Mercedes-Benz 300 SL Roadster
- A 1960 Maserati 3500 GT Spyder
- A 1967 Ferrari 330 GTC
- A 1956 Porsche 356 A 1600 Speedster
- A pair of Aston Martin DB2/4 Drophead Coupes
The collection will also offer a lineup of MG sports cars spanning from 1927 to 1971 — with rarities such as a 1935 MG PB Airline Coupe. Classic memorabilia such as mascots, signage, juke boxes, fuel pumps, neon signs, wall art and more will also be for sale.
Those interested in bidding in the auction for the collection must register online. The auction will take place from Sept. 22-24.
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Why sell?
Ponder’s passion for sports cars began when he encountered his first one at age 10.
“My uncle (who was raised like my brother) came home from the Navy in 1952 in a 1948 MGTC made in England and I was hooked ever since,” Ponder told the Chronicle.
Eventually, Ponder bought a sports car of his own.
“I saw a little fiat for $200 or $300 and purchased it and thought I had went to heaven,” Ponder recalled. “It wasn’t very expensive but it was a sports car. Then I bought a couple of MGs, restored them, sold them and bought six more.”
He fell in love with cars, and fixing them up quickly became his hobby. He’d then sell the cars to make a profit, using the money earned to buy more.
Ponder said he grew up raised by his grandparents whom didn’t have much, and he knew they couldn’t afford to buy him any car. That’s when he vowed to become successful enough to indulge in both a lot of cars and a lot of clothes, he said.
Eventually, he built a pair of successful kitchen cabinet companies, Republic Industries and Master Woodcraft Cabinetry, one of which was funded from selling his car collection in 2007.
“I wanted to build the most modern cabinet company in America,” he said of his decision then, “and I didn’t want to go to a bank and take on a bunch of bank debts.”
But now, he says it’s time to let it all go.
“God has been good to me,” Ponder said. “But I’m 80 years old and when you get to be that age you have to start taking life seriously and you don’t want to leave your family with all of this to deal with.”
Read More:Texas kitchen cabinet mogul to auction $20M sports car collection
2022-09-13 18:05:39