Kansas auction house The Great Deal, whose owner was convicted of fraud, will close its doors on Wednesday, according to a news release.
The auction house has operated for more than 30 years in the state and has held the title of the nation’s largest automotive auction house for more that a century.
The Great Price, which opened in the United States in 1927, was one of the first auto auctions held in Kansas.
Its first sale was in 1953.
Kansas Governor Kathleen Sebelius appointed the company’s board of directors, which includes former governor Sam Brownback, to the position of secretary of the Kansas Motor Vehicle Commission in May.
In the new role, the company will continue to operate as a business, but will focus on its core mission of providing a forum for buyers to purchase used cars and other vehicles from dealers, dealers and owners.
Sebelís appointees are expected to oversee the company through the end of this month.
Sebalini is a former state representative who was elected governor in 2014.
The news release did not specify what will replace the Great Price.
“This is a sad day for our Kansas automotive community,” said Jim Brown, the executive director of the KVMAA, a national automotive association.
“The Great Price has served Kansas and the state well and we are saddened to see this day come.
The loss of the Great Deal will be felt for many years to come, but in the end, it will go to a great, wonderful place.”
In March, Brownback announced that the company would be closed by June for renovations.
The announcement came two weeks after the company announced it would be shutting down its sales branch in Kansas City.
Segalini has been accused of fraudulently selling the auction house’s inventory to a private bidder.
Brownback said he would be looking to restore the business.
“When the time comes, the Great Sale will be reopened, and the Great Dealer will reopen, as the Great Kansas Auto Auctioneer, with the same vision and commitment that we always have,” he said in a statement.
Seamanis attorney said the board of trustees will be conducting a search for a successor for Sebelis new role as secretary of state.