Jun.17 (GMM) The auction of the abortive formula one team USF1's assets has raised $1.4 million.

With a queue of creditors to pay off, the entire contents of the American outfit's Charlotte headquarters went under the hammer.

Among the 427 lots - including bins, computers, tools, a vacuum cleaner, a forklift, a barbeque, a wheel and a bottle of champagne - was a carbon fibre mock-up of the unraced chassis, which sold for $7,850.

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