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It's my understanding that you can't even get a bidders pass unless you have either the money or financing up front. So the deal didn't fizzle because of a 'no-money' issue.
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Unless the bidder had already bought a car and didn't have any money left!
I don't know the details, but they said there was a problem with the original auction and the deal couldn't be closed so they ran it through again. It bid over $170K the first time and I think $132K the second time.