Going once, going twice…
Auction set in THR case
COURTS | Bruce Rushton
If you need an armored car, tools or a whole lot of lingerie, you’re in luck.
One year after what was billed as the largest personal property auction in state history, more detritus from THR and Associates, the failed brainchild of Jeffrey Parsons, will be auctioned online starting next month. Goods on offer include a 1973 Porsche 914, a 1965 Falcon Futura convertible and a 1997 Ford armored vehicle.
None of the vehicles are in pristine condition, according to documents filed in the bankruptcy case of THR, which became famous for buying and selling antiques and precious metals while not paying taxes, customers, employees and vendors. The armored vehicle, which features bulletproof glass, has 290,000 miles on it and was used to ferry precious metals from a storage facility to a refinery. The Futura, once used to tote Shriners in parades, has just 64,113 original miles, plus a few rust spots, as does the Porsche, which has been repainted.
More than 2,100 things are for sale in addition to vehicles. At least 40 refurbished air compressors and dozens of computers. A semi-trailer. Furniture. A saxophone with no mouthpiece, an ivory chess set, autographs from pro athletes and boxes upon boxes filled with corsets, bras, assorted undergarments, pants and shirts, all emblazoned with the Playboy logo.
Last year’s online auction of an equally wide array of inventory and store fixtures brought in nearly $1.7 million, according to court documents.
Bankruptcy trustees last year accused Parsons of fraud, saying that he had concealed more than $1 million, vehicles and other assets from creditors. After Parsons, who now lives in Texas, failed to respond to the accusations, a judge in November refused to discharge him from bankruptcy.
Judging from court files, there could be even more things going up for auction in the future. In a motion filed earlier this month, Charles Covey, bankruptcy trustee, asked a judge to order Parsons to surrender memorabilia associated with Abraham Lincoln as well as other valuables that the trustee says was taken from Springfield to Texas without notice to the court.
Contact Bruce Rushton at brushton@illinoistimes.com.
