[RM Schimel]

The market has definitely softened with the current state of the economy. I attended both Arizona auctions and I must say the quality of cars was abysmal as well. The collectors with the finest examples clearly are not going to risk losing their automobiles in a no-reserve auction such as Barrett-Jackson. I think the cars that went through the Russo-Steele auction house represent a better window as to the current state of the market. The hemi cars still did quite well. The W-30 ragtop with a questionable past and in need of restoration did fairly well also. As Rich stated high quality pedigreed cars will always be in demand. I think we have seen a softening of the standard cars such as GTOs, Firebirds, 442s, Chevelles etc and especially replicas. But the market will always remain strong for the top flight elite cars such as hemi cars, ZL-1, LS-6, Stage –1, W-30, 68-9 HOs or Yenkos. These cars will always be deemed the most desirable with the serious collectors and demand will always surpass supply. This always is reflected in their high valuations. RM