Russo & Steele Fraud and Breach case

[jayscobras]

Fred this was a custom 41 Cabriolet that I had bought. It was called The Masterpiece by some car magazines.

It wasn't just my car. it was the entire scam and attitude of the company. They have pulled stuff like this for ten years.

Here's a quote from their last written closing statement and on the last page last paragraph " this case reeks of surrogate littigation, funded by one of Russo & Steele's died-in-the-wool competitors".

I'm amazed that no one wants to have the award sent to them. Even though its 28 pages it IS the ruling and tells all.

Jay

[392cobra]

Originally Posted by jayscobras

Fred this was a custom 41 Cabriolet that I had bought. It was called The Masterpiece by some car magazines.

It wasn't just my car. it was the entire scam and attitude of the company. They have pulled stuff like this for ten years.

Here's a quote from their last written closing statement and on the last page last paragraph " this case reeks of surrogate littigation, funded by one of Russo & Steele's died-in-the-wool competitors".

I'm amazed that no one wants to have the award sent to them. Even though its 28 pages it IS the ruling and tells all.

Jay

Thanks for sending it. That was a VERY interesting read.

1st - Is that the same '41 that you had for a while ? Candy Apple Red ?


I REALLY enjoyed it when the Arbitrator got to the Punitive question.

He really got them nailed when he said (to paraphrase) they where evil,low life,lying scum and then levied a 50% level on the award.

You came out short on what I think the money should have been but you did the right thing.

I salute you Jay.

[jayscobras]

No I sold the red car about 5 years ago. I still miss it.

The bad thing about Russo is the 14 other consignors that didn't stand up to them. By the way all were sent copies of the ruling in todays snail mail

As well as every major auction company and every auto publication I could think of.

What is it that they say about payback?

Jay

[DAVID GAGNARD]

Originally Posted by jayscobras

No I sold the red car about 5 years ago. I still miss it.

The bad thing about Russo is the 14 other consignors that didn't stand up to them. By the way all were sent copies of the ruling in todays snail mail

As well as every major auction company and every auto publication I could think of.

What is it that they say about payback?

Jay

How about 60 Minutes, 20/20 and those type shows, they just might be interested..........
Sorry to hear about your problems with them Jay......

David

[jayscobras]

Nah, those shows won't do bits with people this slimey. Besides, that death would be way too fast. I am more in favor of the long drawn out painful route.

Jay

[Cammer]

Jay,

I need to ask your advice on Cobra matter!

Please call me - 512-788-3346.

[timsullivan]

I swear it seems like 99 times out of 100 the auction house comes out ahead and the auto enthusiast gets screwed. The auction house makes tremendous margin from both the seller and the buyer and has very little if any exposure.

I went to the BJ auction here last week in Orange County just to experience an auction first hand. I read the buyer and seller agreements and could not believe how much they totally protected BJ from ANY and I mean ANY liability for anything. They take absolutely no responsibility for anything. A seller can very easily misrepresent a car as being original this or that and BJ could care less as they are not responsible for anything. All they want to be sure of is that your money is good. Buyer Beware 15 ways to Sunday! Several cars went across the auction block with BJ saying: “the title is in transit” What the hell? They don’t even have a clear title on the car they are selling at auction? Un F’ing believable!!

For the most part I think these high end auctions are generally for guys with more money than brains, spending plain stupid money on cars because they have more money than brains and simply have no true sense for value. I mean after all whoever buys a car at FMV plus 12%? If the auction selling price is FMV and then you have to pay a 12% sales commission isn't that just plain stupid? BJ also collects another 10% from the seller so they walk away with a clean 22% gross margin. Man oh man what a sweet business to be in! Don't get me started about having to pay $200 for the right to spend money there.

Car auctions are clearly just one big rip off plain and simple and I don’t care who the auction house is.