The assets of the failed USF1 effort have gone under the hammer for a total of $1.4 million, with the key item of interest amongst the 427 lots - a carbon fibre chassis tub - selling for a mere $7,850.

The whole sorry USF1 saga came to a perhaps appropriately undignified end earlier this year when - continuing to stress that it could compete despite having chronically underestimated the cost of racing in F1 and proven incapable of attracting sufficient sponsorship in order to do so - the North Carolina-based outfit's pleas to the FIA to be allowed to make either a late debut or else defer its entry altogether until 2011 fell on deaf ears.

At the auction, other items to go on sale were heavy-duty machinery, computers, furniture, rubbish bins, a vacuum cleaner and a bottle of champagne - one that evidently never had cause to be opened. The proceeds raised will go towards paying off some of the Ken Anderson and Peter Windsor-founded concern's significant debts.

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