Failed banks yield rare auction booty

Banks that have gone belly-up during this year’s financial crisis have left behind some unique items that are being sold at public auctions, reports the business news service Bloomberg.

Business has been good,” said Penny Worley, who opened her [auction] firm in 1993. “This can be a daunting task, because there are so much and so many different things. There’s an occasional Dali. There are rare gold coins.”

via Marijuana-Reeking Tour Bus, Red Ferrari Are FDIC’s Crisis Booty – Bloomberg.com.

A rapper’s tour bus that sold at one bank auction “smelled so bad of pot after one tour that they had to completely pull out most of the interior and replace it,” an auctioneer told Bloomberg.

Hundreds of banks have failed this year, and the FDIC has recovered millions in losses by turning over assets for auction.

While you may not find a rapper’s tour bus, you will find local auctions on this page at Iwanna.com — including images of print display ads that are listed in the right-hand rail of the page.

Advertisements

0 Responses to “Failed banks yield rare auction booty”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




Twitter Updates

Del.icio.us Bookmarks

Top Clicks

  • None

RSS Tip’d

  • An error has occurred; the feed is probably down. Try again later.
December 2009
M T W T F S S
« Nov   Jan »
 123456
78910111213
14151617181920
21222324252627
28293031  

%d bloggers like this: