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Posted By: leon

Hi Bruce
I might agree with your first paragraph. Your 2nd one about payment times might be close though for some small ones I think the time between consignment and payment to consignor is a bit less. I also agree we are in a very bad financial crisis as which most of us have not seen before. I do think people will know where to turn though. I think they will use ingenuity to come out of the financial mess....one by one. I pretty much completely disagree with your paragraph about 50% up front payment for consignments. I just don't think that will happen. I also don't think 3 of the top auction houses will close. Maybe one, maybe none. Personally, I doubt any of them will close. I do agree that some consignors could have to wait to get paid by some auction houses. I know of one auction house that pays within 2 weeks of auction close . I don't think this financial mess will affect the hobby anymore than the fact that there is less discrecionary funds to spend nowadays.....Not a bad thread to get some juices flowing. I prefer to be cautiously optimistic though. take care