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...and it wasn't pretty. Leake auto auctions was in town, so I went to check it out. Nothing was selling, and what did sell went for nothing. They had a 65 fastback that went for 15K, and a 64 vert that only went for 11K. Both were nice little cars. They weren't 100 point cars or anything, but they were in nice shape. I really thought they'd bring more than they did, but I was really sick when a 69' mach, in a little better condition than mine, only went for 16K. Most of the cars didn't even sell because they weren't meeting the reserve, you could tell the auctioneers were getting really frustrated. They were practically begging the sellers to lift their reserves so they could sell something. There was a gorgeous concourse restored 69' Trans Am and they were only able to get the bidding up to 55K on it, not even close to the reserve. There were guys with over 100K in receipts for some of their cars, getting bids for $10-15K. That was the story on pretty much all the cars out there, some of those poor guys practically gave their cars away.

I overheard one of the bidders, a guy who had bid 130K on a hemicuda that didn't sell because of the reserve, talking to some people on the phone about how bad it is right now. He was basically saying most people haven't come to terms with how depressed the market is right now, versus how much they want for their cars.

Me and the wife still had a great time, but it was kinda sad seeing what some of those cars were going for.
 

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Wow.... Hope it's not a sign of the times! Yesterday I helped a buddy out at a local "Early Bird" swap meet. Beautiful day, and lots of people in attendance, and a lot of vendors, with some good stuff. I think the hamburger stand, and the Scone wagons took in more than all the vendors did! Everyone seemed to be looking, but not buying......
 

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It's only a bad sign if your selling! Sounds like a great opportunity to expand the herd!
 
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