Mt. Pleasant couple donates $2M automobile collection to Northwood University
(CBS DETROIT) - More than 35 classic vehicles are being donated to Northwood University, worth more than $2 million.
The collection was donated by Mt. Pleasant couple Michael and Dianne Morley, according to the university.
"We are incredibly grateful to Michael and Dianne for this extraordinary gift, which will be used to enhance our Midland campus, create scholarship opportunities, and build the university's endowment for future students," university President Kent MacDonald said in a statement.
The vehicle titles will be transferred to Northwood. By June 30, the university will liquidate the collection in a no-reserve auction. University officials plan for the vehicles to be auctioned with Mecum Auctions on Jan. 6. Vehicles include a 1932 Ford Hi-Boy Convertible, a 1958 Chevy Impala and a 1970 Dodge Challenger R/T.
Officials say the university will keep one of the vehicles for display -- a 1958 Chevy Corvette.
According to a press release, Northwood will use up to $1 million of cash proceeds for campus improvements. The remaining proceeds will be go to build a scholarship and endowment fund.
Click here for more information on the January auction.