StangTV posted an article on the auction of the assets of Unique Performance a few months back. Here is an update on the situation. The first auction brought in just over $1 million but that was not enough money to compensate all of the people they had scammed. So there will be another auction.
This auction is being handled by Rosen Systems. This is believed to be for the inventory and tools that were not sold in the first auction. There are 41 Mustang bodies and a total of 401 lots to be auctioned off. Most of these cars are in worse shape and will need more work then what was sold in the first auction. The list of items for sale has just been posted, bidding starts Jun 16th and the auction is set to end on June 24th.
Unique Performance executives received some good news that the U.S. attorney will not pursue the twenty five felony charges that could have been filed. There is a chance the Dallas District attorney could file charges against them. They are currently conducting an investigation. The sad part is that the people that lost the most are the car enthusiasts that put down deposits and the employees that got swindled out of a lot of money. It is believed they had over $7 million in deposits to build cars. I hope the tool boxes up for auction are not the former employees.
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