Listers:
This past Friday,Saturday and Sunday, Kruse / E-Bay had their annual spring
collector car auction in Auburn, Indiana. Being an Auburn resident, I was
drawn to the location of about 1200 collector cars like the proverbial moth
to a flame. Kruse / E-Bay has two auctions here, one the first week-end of
May and the bigger Labor Day event. What is interesting about the spring
auction is the number of individuals looking for a toy for the summer. Many
told me over the last three days that they had BORROWED X number of dollars
from their bank for four months with the full intention to come back and
reenter the same car in the Labor Day auction. One 50ish gentleman told me
he had been doing that for the last six years and the most he has ever lost,
even factoring in interest on the note and insurance from Hagerty, was
$1500. He said there have been years when he has broken even or made a few
hundred. He then pointed to the 66 Mustang that he had just bought saying
"The point is not making money, the point is using that Mustang for the
entire summer". Can't really argue with the logic. That my friends is what
is driving this collector car market.
The stunning car of the weekend was an absolutely perfect 59 Bug Eye Sprite.
The bidding started at $12,000 and rose quickly to 18,000. The last couple
hundred was agonizing slow and finally stopped at $19,100. The owner wanted
$21,5 and turned down the $19,100.
Lou Metelko Auburn, Indiana
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