Anyone heard any info on Auburn?

[Bob Hoffmann CLC#96]

Actually I'm curious how the AUCTION went??? Bob

[Carfreak]

It looked like the Kruse auction cars were down about two thirds or more over years past.  Could have raced a semi through the east parking lot and not hit anything.  No big tent and the buildings were sparsely populated.    Heard through the grapevine that Kruse persuaded dealers to run their cars through the auction - he 'guaranteed' their payment. 

Supposedly the buyers would make payment directly to the dealers (including buyer's premium) instead of paying Kruse as has been customary.  Then the dealer would pay Kruse for the buyer & seller premiums.  Interesting as this would allow Kruse to comply with the agreed-in-court requirement that the Auction Park mortgage holder receives the first $500,000 in proceeds. 

I wonder if private sellers were offered this option?   

AND it appeared that there was some sort of 'Fed' (bankruptcy? IRS? state attorney general rep?) present to oversee the festivities under the big top.  Funny to hear the announcement at beginning of the sale Friday morning that: "buyers, upon winning the bid for a vehicle, please make arrangements as soon as possible to pay for the vehicle so we can pay our sellers".   

The car corral was very fairly full and the swap meet was much better than last year.   Prices?  Not too many 'deals' in the car corral though a few could be found in the swap meet.

[Bob Hoffmann CLC#96]

Ed, thanks for a nice report. I'm not surprised. Bob