The Finest Automobile Auctions, still wants to pursue its goal of interactive, online sales of collector cars, but for now the company is not staging additional on-site auctions and is being sued by several vendors for nearly $600,000.
“In a holding pattern,” a spokesman for the auction house said. “The board is deciding what to do next. We may restructure.”
Lawsuits seeking payments from the auction house have been filed recently on the East Coast and in Colorado by vendors who say they are owed more than $583,000.
“That information is correct,” said Serge Hunkins, president of New Jersey-based Kadan Productions. “I’m suing. My company and four others, for $500,000.”
Kadan Productions reportedly did pre-event design and on-site set-up work for at least two of The Finest’s on-site sales. Snowmass Club in Colorado claims is owed more than $83,000 and has gone to court to claim it.
The Finest has conducted auctions in Pennsylvania, Colorado and Florida. It had planned to do its first major online-only sale in April, but that event has been postponed, nor will it be doing second sales this year at The Elegance at Hershey or during the wine festival at Aspen-Snowmass.