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post #9 of (permalink) Old 04-15-2002, 01:30 AM
Junk Yard Genius
 
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Re: Whew! Went to an auction...wot a trip!

If you do attend a bankruptcy sale, (and you won't know until you get there, they don't advertise that fact) and you get the chance to buy something for cheap... It's not good form...

I've bought stuff for $1 or $5 at sales that should have gone for large cash, and I've returned them to the family they are liquidating...
Everyone has to know what's going on, or some cabbage head will bid the crap out of something, in which case, don't bid at all...

In my estimation, it's blood money of the worst kind with a 3rd, 4th, or 5th generation family gets sacked...
Especially when the corporate farms get carried on bank credit every year... And drive the family farm under.

I buy boxes of household goods, furniture that looks like it might be something handed down in the family, and return it...
Everyone knows what is going on, so in some cases we can get it pretty cheap.
I try and make a point of returning $100 or $200 (what ever the budget for the weekend fun was) worth of stuff at everyone one of the liquidation sales.

There will always be the vultures...
You know, the guys that go there just to stick a fork in the heart of the people that used to be neighbors, and try and steal something.
And the tractors and large hardware are going to be snapped up by dealers from out of the area, so that is out of the question...

We used to have a very rich old man around here,(found oil and coal under his 'worthless' land) and he would buy the farms back for cheap (no one would bid against him), and let the families buy them back on contract.
No one would make the families a loan after a bankruptcy, but it didn't stop that old man.
He died a few years back, and his son is allowing the families to pay when they can...
But he's not buying anymore like his dad did...

A local boy, John Mellencamp (John Cougar to you 80's stoners), is a big family farm booster, and he's bailed out several farmers around here.
It's a rare thing when someone obscenely rich actually makes the effort to practice what he preaches.
I can't afford to buy, and then return a $100,000 piece of land to the family, but he does it on a very regular basis, and never asks for a second of publicity for it.
The least I can do is throw a couple of hundred dollars towards the family that has just had to watch everything go at auction....

I can't even imagine what that is like....
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