MEMO: NEW COLLECTOR CAR AUCTION SERIES SET

Two of the nation's largest car auction companies have formed Allied Auctions Series to present four giant collector car auctions in the next two years.

Smith Auction Company of Dexter, Mo., and Vintage Gavel, Inc. of Auburn, Ind. will hold auctions at Auburn, Ind. this year, and in East Coast Florida, West Coast Florida, and Hot Springs, Ark. in 2002.

Smith Auction Company presently holds auctions in Cape Girardeau; Jonesboro, Ark., Tulsa and Oklahoma City, Okla., and Dallas.

Sherm Smith of Smith Auction Company said the two firms might focus more intensely on each event and reduce the possibility of diluting each regional market. "This arrangement best serves the needs of our shared customers and the collector car industry," Smith said.

Bob Rathgaber, vice president of Vintage Gavel Inc. agreed. Smith said the two companies would share staff and marketing efforts for each other's respective events.