Car Auction Benefits RHIT

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A former student’s gift of a McLaren P-1 hypercar is really paying off for Rose-Hulman Institute of Technology.

Today at auction, the McLaren sold for a record $2,392,500. It’s the highest auction price ever paid for the hypercar. 

Proceeds will be used at RHIT to establish the Alfred R. Schmidt Chair for Excellence in Training. Schmidt was a long-time math professor at Rose.

In a press release from the school, RHIT President Jim Conwell said, “We’re delighted with the amount the car brought at auction and the unique way this donor has chosen to support his alma mater. The impact of this gift on teaching and learning cannot be overstated.” 

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