It is very sad to read this story about the headquarters of Saab Cars North America in Royal Oak, Michigan. An auction of all inventory and other items took place Thursday of last week. A journalist from Jalopnik attended the event and reports on the event that took place that day.
The "auction" wasn't much of an auction. One expects an auction to be orderly — and in a bankruptcy, one expects there to be rules designed to help engender the highest possible bid. That wasn't the case here.
Instead of an auction it was more like a fire sale — as groups were led through the now almost empty headquarters on a first-come, first-serve basis. If someone in one of the first groups bid for an item, if it met the reserve price, it was theirs.
It was there that our group descended on the carcass of the automaker like vulture, looking for whatever tasty morsels we could scavenge. I saw a pristine crated Saab H engine sold for a couple hundred dollars. Next to the crated H engine was a two-arm engine hoist — each arm holding a GM turbo V6 engine.
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