Dingman, an experienced race driver, served as a Ford Motor Company director for 21 years and personally competed in some of the vehicles offered for sale, driving Roush-prepared Mustangs in the SCCA’s Trans-Am Series in the early 1990s.
In addition to the cars, the assemblage also included Dingman’s porcelain and neon sign collection, which he amassed in less than four years. News of the auction fuelled rumours that Dingman was liquidating his Bahamian assets, which were denied by a source close to the multimillionaire.
“The only thing that he has been doing is selling little things here and there, and that’s not a sign of liquidation,” said the source. However, it was stated that the property “Laguna,” a set of apartments in Lyford Cay is for sale and has been on the market for a long time.
“He has sold a couple of paintings here and there, he’s sold a lot of his antique cars, out of New Hampshire, but nothing massive in terms of businesses or homes, which is an indication of a liquidation,” said the source.
As head of a company named Henley, in the 1980s Dingman developed a system of acquisitions, divestitures, and spinoffs of companies that he called “perpetual liquidation,” system that garnered him substantial wealth.
However, lawsuits devastated Dingman and the company, and in the early 1990s he became an expatriate from the US, moving to The Bahamas.
The Nassau Guardian
