The collector car market cratered in 1989-90.
What were the significant events that preceded the collapse?
1. Auction companies popped up everywhere trying to get a piece of a rapidly growing number of transactions, increasing prices and resulting commissions;
2. Cars sold to speculators, not collectors;
3. Individuals like Hans Thulin took on huge bets on the collector car market’s continued rise; Thulin eventually failed to consummate his purchase of GTO 3607 at Monaco in 1990 for $10.7 million and a year later it was sold … More
Surfwear giant Billabong will offload its longboard skate hardware brand, Sector 9, for about $16 million to a US sports company to focus on its “big three” brands.
Billabong said the $US12 million ($A16.4 million) sale was not the start of a sell-off of smaller brands but part of the company’s strategy to focus on the three larger brands under its umbrella.
“Our priority as a company has been … More