Auction

On September 25, 2025, Freddie Mac (FMCC) announced an auction of approximately $487 million in non-performing residential first lien whole loans. The sale includes four Standard Pool Offerings (SPO) and one Extended Timeline Pool Offering (EXPO), targeting different investor sizes. Bids are due October 16 (SPO) and October 30 (EXPO). The move aims to reduce less-liquid assets. Since 2011, Freddie Mac has sold $10.7 billion in NPLs.

Gold Reserve Ltd.’s subsidiary, Dalinar Energy, lost the auction for PDV Holding, Inc. (CITGO’s parent company) to Amber Energy Inc., despite a higher revised bid of $7.9 billion. Gold Reserve plans to challenge the decision, citing grounds for objection after Amber Energy’s winning bid of $5.9 billion. Dalinar Energy claims its bid offered superior economic value, including debt financing and consideration for junior creditors. An objection deadline is set for September 6, 2025, followed by a hearing on September 15, 2025.

A woman in Nantong, China, drew a license plate with the sequence “88888,” sparking social media buzz. Rumors circulated about a quick resale for $388,000, but she and the dealership deny these claims. While offers reportedly reached $153,000, she intends to keep the car. Chinese regulations usually prevent direct plate sales, although valuable “leopard number” plates are sometimes auctioned, with some fetching exorbitant prices, like the “Yue V99999” which sold for $445,000.

Broad Arrow Auctions, a Hagerty company, will debut at the Zoute Concours Auction on October 10, 2025, in Belgium. The auction will feature two exceptionally rare Ferraris: a 1967 275 GTB/4 in Verde Pino and a 1970 365 GTB/4 Daytona “Plexi” in Avorio. These cars, with their rarity and historical significance, are expected to draw significant interest. The auction will also showcase 70 other collector cars.