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Massive Nebraska Auction CANCELLED

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newfarmer9

01-25-2008 18:48:50




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That massive auction in Nebraska in June of 2,500 tractors and whatnot has been cancelled. Here is the notice as was posted on Aumann Auctions website:

IMPORTANT ANNOUNCEMENT

On September 11, 2007, Aumann Auctions contracted with Joan Phillips to sell her late husband’s collection of approximately 2,500 antique & collectible tractors, parts, trucks, toys and many other items. We contracted this auction in good faith and immediately began advertising and promoting the auction as instructed by the sellers.

However, Mrs. Phillips later informed Aumann Auctions that she had sold the entire operation with all of the assets and real estate to one buyer, and that she must terminate the auction contracts with Aumann Auctions. After considering all of the circumstances and in light of this advisement, we began litigation in the United States District Court for the District of Nebraska alleging breach of contract by Mrs. Phillips and we are vigorously pursuing that lawsuit. Unfortunately, due to the above events, it appears we will not be conducting the Phillips auction.

We want to thank all of the collectors and interested parties that have been so supportive and helpful during these last few months.

While we personally strive to conduct business in an upfront, ethical and transparent manner, this type of incident is one we have never had to deal with. We apologize to our customers for any inconvenience this has caused you. We have had hundreds of inquiries for the auction already and will try to contact all of those personally.

It is our opinion that the facts of this transaction will present itself to the collecting community soon. Please see our other great auctions for 2008! We look forward to seeing you at one of them.

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Martin Caldwell

01-29-2008 05:05:40




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
This proves that in tractor collecting there are really some real kooks. It will be intresying the out come of this pissing contest



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T_Bone

01-26-2008 19:56:53




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
Wow what a rip off the current owner is. If you haven't read the BK papers, read it as it clearly shows the owners intent was to keep them tied up in court until he could sell off alot of the assets he(Dyke) bought without paying them a dime(Phillips).

The only problem she's got now, is the contract between the auction houses.

Only in the USA.

T_Bone



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newfarmer9

01-26-2008 18:22:05




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
I would be very surprised if Kruse is able to go through with the auction. With so many parties involved in the dispute over who owns what, I wouldn't be surprised if one of them gets a court order preventing the sale of all goods until the ownership issues are worked out.



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newfarmer9

01-26-2008 13:40:45




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
If I were Kruse, I would be wary of taking up this auction until all the legalities are worked out. After reading through the entire document posted by Nebraska Cowman, it seems that several parties lay claim to the tractors and real estate. Mrs. Phillips may or may not legally own the tractors and real estate. That being said, I would also be wary as a buyer at the auction, since buying a tractor from someone who does not legally own it could create some very negative consequences.

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newfarmer9

01-26-2008 12:11:36




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
Hmmm I am not so sure Kruse will be able to hold the auction if another legal battle breaks out...you can't auction off stuff that may not legally be yours!



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newfarmer9

01-26-2008 11:00:20




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
Wow that's quite complicated. I don't understand most of the legal jargon and whatnot, but basically Gary's Implement was "sold" in 1998 with the buyer to make payments and such, but he went bankrupt in 2003 and stopped making payments? A lengthy legal struggle ensued afterwards as who actually owned Gary's Implement, the land, and all the inventory? I take it when Mrs. Phillips went to auction everything off she recieved some flack from somebody in regards to the previous legal action, and as a result she cancelled her obligations with Aumanns and sold it privately? Now this private buyer is going to auction everything off? This just keeps getting messier and messier! Lets see...according to that document there are 2 parties who are trying to lay claim to the estate. If she has indeed sold everything, this new buyer makes 3 parties who can lay claim. Plus Aumanns has been caught in the crossfire! Oh boy, what a mess!

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Howard H.

01-26-2008 18:07:56




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-26-2008 11:00:20  

What a gigantic mess!! No wonder the Aumann auction fell through...

I know I was at a big sale up near there in June of 2003 and a semi with a "Garys" and "Bridgeport" was hauling off load after load of tractors from there (the auction had 80-100 or so).

I guess someone there still had enough money to be gathering them in at that time...

Howard



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Nebraska Cowman

01-26-2008 10:33:35




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
Take so time to ead this



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newfarmer9

01-26-2008 07:56:39




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
Wow $300 million is a lotta money! If that is true, wonder who bought it? I know if I was Aumanns I would not be too happy, you could make a pile of money on a sale worth $300 million!



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TylerARK

01-26-2008 07:16:57




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
Last November, I was told the estate sold to someone from Texas. The entire estate, tractors, land, businesses Etc was supposed to have been appraised at approximatly $300 Million. If Aumann had a proper contract, she will have to pay him some. Lawyers will get most of it.....
Tyler



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I Know

01-26-2008 11:57:43




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 Re: Massive Nebraska Auction CANCELLED in reply to TylerARK, 01-26-2008 07:16:57  
From what I've heard theres no 300 million dollars worth of stuff there counting everything.Kruse will have the auction in April.



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newfarmer9

01-26-2008 06:43:18




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
I wonder what happened there. Did Mrs. Phillips just drop Aumanns and sign with another company, or did she sell everything to one buyer, who is now going to auction everything off?



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dittmerku

01-26-2008 05:24:42




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
There's very few instances when the one party has to pay the other parties legal fees, and breach of contract usually isn't one of them. They may have to pay court costs though. Kurt



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135 Fan

01-26-2008 12:31:55




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 Re: Massive Nebraska Auction CANCELLED in reply to dittmerku, 01-26-2008 05:24:42  
There are very few cases where the losing party pays the other sides legal fees but if it is a cut and dry case that never should have been brought to court, the losing party can be ordered to pay all or a portion of the other parties legal fees. In this case, considering the value, lawyers aren't going to be cheap. I can't see that Aumanns did anything wrong and acted in good faith. It seems the seller didn't. Maybe there's more to the story? Dave

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Mike (WA)

01-26-2008 07:48:48




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 Re: Massive Nebraska Auction CANCELLED in reply to dittmerku, 01-26-2008 05:24:42  
If the contract provides for attorney fees, she'll end up paying them, as well, if it goes all the way to judgment. Most of these get settled before trial, often with each side paying their own fees as part of the settlement agreement. Be interesting to see how this turns out- clearly a breach of contract, and Aumann's damages are huge.



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skyharborcowboy

01-26-2008 00:33:46




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 Re: Massive Nebraska Auction CANCELLED in reply to Lanse, 01-25-2008 18:48:50  

Lee in Iowa said: (quoted from post at 02:40:32 01/26/08) Just got magazine with the ad. April 1-8 Kruse international has the auction. Their phone# is 800-968-4444, web is www.kruse.com. Ad says 100% financing available for every item so don't let lack of money stop you. Lee


Lee,

Do you have the details in your ad because I cant find anything on their website that mentions the auction?

Thanks

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Lee in Iowa

01-26-2008 22:26:44




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 Re: Massive Nebraska Auction CANCELLED in reply to skyharborcowboy, 01-26-2008 00:33:46  
Check my reply to post below. Also it said nearly 20,000 items antique tractors, hit and miss engines, tractor seats, large peddle tractors, collectible, plus hundreds of other toys, 200 modern tractors, 500 combines, 2500 antique tractors. Has pictures of 26 antique tractors. They call it the Gary Phillips Estate Auction. The magazine it was in was Farmers Hotline heartland edition pages 8 and 9feb/mar issue. The magazines web site is AgDeal.com phone# is 800 673 4763.

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JT

01-26-2008 09:39:05




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 Re: Massive Nebraska Auction CANCELLED in reply to skyharborcowboy, 01-26-2008 00:33:46  
If you go to Aumann's web site, go to the currect antique power auctions, go to the link for that auctions, it will show the info posted above.
JIm



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JT

01-26-2008 09:44:00




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 Re: Massive Nebraska Auction CANCELLED in reply to JT, 01-26-2008 09:39:05  
don't pay attention to me, I can't read today. :O



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135 Fan

01-26-2008 00:03:21




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
I think that Aumann auctions is entitled to all the commission from the original sale of all the tractors and equipment and should be paid back for all the advertising and other work Aumanns did. It will most likely be a very expensive lesson for the seller, especially when I think she'd have huge legal fees if a contract was signed with Aumanns. If Aumanns wins their lawsuit, the seller could end up having to pay all Aumanns legal fees as well as their own. Dave

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Lee in Iowa

01-25-2008 23:40:32




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
Just got magazine with the ad. April 1-8 Kruse international has the auction. Their phone# is 800-968-4444, web is www.kruse.com. Ad says 100% financing available for every item so don't let lack of money stop you. Lee



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LARRY in Iowa

01-26-2008 11:35:19




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 Re: Massive Nebraska Auction CANCELLED in reply to Lee in Iowa, 01-25-2008 23:40:32  
Lee in Iowa....just called Kruse"s...they do have the sale but there is NO AD as they are still inventorying..At this point they are calling it a seven day sale, but that may change by the end of the inventory process. They also told me that it will NOT be posted on the web site until the inventory is completed. So PLEASE make sure your information is correct before you post it.



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Lee in Iowa

01-26-2008 21:32:39




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 Re: Massive Nebraska Auction CANCELLED in reply to LARRY in Iowa, 01-26-2008 11:35:19  
I have the magazine with the ad in my hand. Farmers Hotline feb/march 2008 volume 34 number 2 received by regular mail friday january 25 2008. Everything in my original post is in the ad. If they put out ad copy prematurely its not my fault. I don't think I'm hallucinating that much. Lee



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strawbale

01-25-2008 22:36:28




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  
I heard that Kruse auction co. is having the auction, i believe the first week in april



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Howard H.

01-25-2008 22:15:17




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 Re: Massive Nebraska Auction CANCELLED in reply to newfarmer9, 01-25-2008 18:48:50  

So who was the one that wrecked the whole deal??


HH



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