Unique Performance Auction Nets More Than $1,000,000 Dollars, But That's Not Enough

Illustration for article titled Unique Performance Auction Nets More Than $1,000,000 Dollars, But Thats Not Enough

Because Unique Performance declared bankruptcy and had debts outstanding, what was left in the UP warehouse was auctioned off this weekend. The hope was that, after the $900K went to the government there would be some left over for the 140 individuals with claims (including 40 employees owed back-pay). According to our source and records on the auction company's website, the auction netted approximately $1.037 million, leaving $137K after the IRS took their cut, which means $978 per person... before lawyers.

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We don't have a final tally on how much the lawyers get, or if there are other ways to recoup the money (maybe not). Either way, it doesn't look like those on the wrong end of this are going to get justice from this particular auction. Though, as one former employee told us "I guess we have the memories... and the hope to see [owner Doug] Hasty behind bars!" More when we get additional information.

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DISCUSSION

I am a hurtin!

I loved the Mustang's since I can rember. I have had and currently own a few decent muscle cars. But the one I spent some serious coin on and was to my belief going to be of real value was a 2006 pre production Foose Stallion (I purchsed the first retail car sold signed by Chip Foose himself). Now this car is now just another newer style modified mustang with a history Unique and Foose will have long wished never happened.

After my 1st heart ache, (and after I dumped my deposit 2 years prior) my 2008 Shelby GT 500 Conv shows up at the dealership. This was my child hood dream to own a Shelby GT 500 Convt. I love the car! But with all the negative media related to Unique costing fellow motor heads millions and Foose and Shelby bailing out and headed for the hills I gotta say, what the hell.

I am and always have been a mustang guy. And I feel fortunate not to be one of the folks whom lost thier cash without anything to show for it. But believe me I feel like I have lost a limb, by dumping tons of cash into these "dream cars" and only after doing so do I finding out my dreams and my investments are marked as nothing more then an ugly reminder of the current dark time in mustang muscle cars.

I must admit, these recent events may just be enough for me to stop my late model performance mustang preaching and find me a old beater big block anything and start over by simply enjoying the rumble, of an old muscle car with the torque and open road as my passangers and not give a second thought to these new high dollar frauds.