REWahoo
Give me a museum and I'll fill it. (Picasso) Give
^ Hang in there, I think patience is key.
Saw a EweTube yesterday of a used car dealer trying to buy cars at an auction. Many of the cars and trucks were from new car dealerships who had taken the cars as a trade in on a new car purchase, and had evidently given up on trying to sell them on their lots. They were trying to salvage what they considered the wholesale value of the vehicles by sending them to auction but bid prices were coming in several thousand less than the reserve. Some had been at the auction yard for 3 to 5 weeks and still hadn't sold.
The expectation is that auction sellers will soon have to face reality and throw in the towel, accepting the fact these used vehicles are now only worth 75% or so of what they paid for them.
Saw a EweTube yesterday of a used car dealer trying to buy cars at an auction. Many of the cars and trucks were from new car dealerships who had taken the cars as a trade in on a new car purchase, and had evidently given up on trying to sell them on their lots. They were trying to salvage what they considered the wholesale value of the vehicles by sending them to auction but bid prices were coming in several thousand less than the reserve. Some had been at the auction yard for 3 to 5 weeks and still hadn't sold.
The expectation is that auction sellers will soon have to face reality and throw in the towel, accepting the fact these used vehicles are now only worth 75% or so of what they paid for them.
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