Posted By:
Bruce Dorskind
Barry
We are raising two very important questions.
If the Government seizes the assets of an auction house
or grading company, our question is what happens to the items
that have been consigned or what happens to payments to the auction
house that have yet to be distributed to the consignors?
We believe that if the auction has goes bankrupt the consignor is
a creditor just like everyone else. The decision may rest on both
state law and the auction contract with the consignor.
One should not under-estimate either the probability of a depression
or very severe recession nor the probability that an auction house
could either be seized or file for bankruptcy
That's our final comment on your point
Bruce Dorskind
America's Toughest Want List