Auction house buys Cadillac for $9.6m

Cadillac Auctioneers has bought a used Cadillac Escalade for $1.6 million, the company announced Thursday.

The sale comes after the carmaker announced last month that it would begin selling a new model for the first time.

Cadillac said the Escalades were the last cars to be sold on the automaker’s website.

“The Escaladors’ unique design and timeless appeal made them a classic of the auto industry, but they also remain iconic among the public,” the company said in a statement.

“Our goal is to bring the iconic Escalading to the masses in an exciting new vehicle with the ultimate in value and luxury.”

The Escaladers were built between 1937 and 1954.

“While the Escaldes were not perfect, they were one of the most successful and well-regarded models in Cadillac’s history, as well as the only Cadillac Escala in service today,” Cadillac said.

“This is a very special day for the Cadillac family, as we celebrate the end of this iconic family vehicle.”

The carmaker said it would continue selling the Escala through 2019.