Quote Originally Posted by mr.miracle View Post
Suicide, quick question, I see what you are getting at I think, however doesn't this idea of yours just continue to rob Peter to pay Paul so to speak. Even if these guys can keep the doors open say another 18 months using this current scheme of theirs, if they are so far in debt, I highly doubt that they are going to be in any hurry to pay anybody but perhaps the few remaining fools that continue to consign to them that they know have really high end memorabilia so that they can keep the flow moving. What I don't understand is how and when anybody will ever really get caught up payment wise. If anything my concern would be that they will just continue to spiral downhill to the point where nobody will ever get paid and when the funnel runs dry as it quickly appears to be happening they will just shut down. In the meantime they will just continue to accept consignments and use the auction proceeds to keep Victor buying his Lamborghini's and Ferrari's and other exciting things like that.
Brett,

Thank you for the intelligent question(s).

The beauty in them staying around is twofold.

One, it gives the legit consigners time for their attorney(s) to do whatever they can do to attach/tie up/secure/lein/etc. any items possibly listed out there as assets of AMI so that these poor souls that have been left holding fairly large empty bags can recoup their money. Hopefully that would include any outstanding auction winning from unpaid buyers. As they say, the squeaky wheel gets the oil. In this case, the ones who seeked out legal help first may just end up getting restitution fastest (first).

The other thing is, and what I was trying to allude to, is if they are able to somehow get over this (what we all would hope to be is referred to as "short term") cash flow/profit crunch due to the bad economy or otherwise (not taking care of the business properly in regards to paying the people who supplied them with their lifeblood......consignments.....), then maybe the ones left holding a bag if any, would be the "suppliers" of items to them furthest associated from us "real folks" in the collecting hobby.

And quite frankly, if it's not collector consigners, but companies or individuals in this auction game strickly to make a buck......who really cares what they end up with in their hands?

Again, I wasn't trying to be so literal, as I don't really care to add to the list of people who don't like my comments about their poorly run business and practices....but I do appreciate that there are a few of you out there who can understand the concept as being in the best interest of the hobby consigners.

Too bad others here just have another agenda, and muck up the message with personal issues.

Take care Brett,

Steve