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Premier Exhibitions Inc. Message Board

  • smaycs4 smaycs4 Apr 5, 2012 7:34 PM Flag

    If the reserve is not met

    We are going back to $1.50.

    If they cant sell this collection on the 100th, when the heck can they ?

    The bidders know Sellers is a motivated seller. They are seeking a BARGAIN.

    Combine that with the highly uncertain tax issue and the selling may have been rational speculation.

    My cost basis is low so Im holding on.

    But make no mistake, if all 6 bidders are seeking a "steal" then the collection might not be sold anytime soon which could send the shares toward $1.

    I hope not, but its possible.

    A 5 year old valuation that didnt consider the legal restrictions is meaningless.

    Now, I hope Im wrong and we go to $4 in the next few weeks.

    I just dont think thats likely.

    I also think its HIGHLY UNLIKLY that Sellers has sold a single share.

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    • Ya but six bidders? Someone has got to be able to come up with the cash. If all else fails they could combine 2 or 3

      • 1 Reply to primoexe
      • I spent many years at dealer only car auctions.

        The repo & new car dealer trade lanes were particularly heavily bid on. So having 6 or more bidders didnt keep me from getting some real bargains. Not always, but sometimes.

        I dont think combining 2-3 bidders is possible with the legal restrictions. Or if they would be, the extra legal fees would be expensive.

        I considered selling in the $3.50 range but didnt.

        Would have been prudent to sell at least half but hindsite is 20-20.

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