<VV> No Buyers at auctions, lot's of dealers and shills!! Beware!

[David Houston]

I've been to several auctions and estate sales since Oct 2008. This depression is a cash buyers market. I saw this in 1982, when you couldn't give collector cars away. Just this weekend I picked up a running corvair motor at an airport hangar for free. He hadn't been able to sell it for over a year for $350.  I also picked up a corvan95 for nothing because it wouldn't sell. If you haven't already pick up the lastest issue of collector car market magazine. The latest issue documents the low, low prices that many nice cars sold for last fall. It also talks of the use of shills and phony bids p[laced on vehicles that no one is bidding on.  In 1982 I couldn't give my collector cars away and sold some very cheap. I was glad to get the money I did get for it. 
If you're wondering what's happening in this country is that Wall Street, that closed at 6,400 Dow on Friday (Oct 2007 Dow 14,164 high, Wow!) is funneling all the cash and assets out of the US as long as Obama is President. This will be a 4 to 8 year crash/depression. All the smart money is buying Euros and Gold, not collector cars, which all depreciate as soon as you buy them. You might have missed the Wall Street Journal two weeks ago. It said Obama has set aside 40 to 100 Billion extra, beyond the stimulus, when GM and Chrysler declare Bankruptcy in a few weeks.  That's why the stimulus spending bill is a criminal act. The bankruptcy was planned a year ago. I've been to the Cayman Islands and photographed many political aides carrying cash on dollies to the banks, there was so much of it. The only way it can be stopped is civil unrest or a violent rescue of the goverment. The Jobs are gone and the cash has no backing, but corvairs are still
 reasonable.....and the snow is melting.