Posted By:
leonTo get straight to the question of what happens to collectibles if an auction house has consignments and is involved in some kind of govt. legal issue? I am no lawyer but I would guess it would take some time but consignors would get their material back. If advances were given on them then that would muddy the waters. I am not sure when "title" to property passes but I don't think an auction house "owns" consignments ...again with respect to advances I am not sure....
As far as the economy goes....It sucks...will continue sucking for a lot of '09 and then hopefully will get better. Even though I didn't vote for Obama I do have confidence in him....best regards