Join Date: Aug 2007
Ferrari Life Posts: 1,130
I think that these pictures are from circa 2008. At the time, as I understand it, the lenders were not allowed to profit from selling these cars on (cannot benefit from the loss of others) and they did not know what to do with these cars. The borrowers were gone, the lenders were not sure if they could reposses the cars and even if they could, they were not sure if they could sell them on and at what price. Apparently abandoned cars caused such an eyesore, particularly at the aiport, that they were collected an parked in a big group in the desert somewhere. I believe that the law has since been clarified to allow for repossessions.
Current: 365BB, 550 bluebird and a few 911's
Past: 246gt, 512BB, 308 GTB "Michalone" and a few 911's