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Burt Reynolds To Hold Massive Sale To Pay Debts

Famed actor Burt Reynolds says he is not broke, but some people are wondering after the announcement of the auction one of the largest personal collections of a living celebrity. The Burt Reynolds Auction will take place in Las Vegas on December 11 and 12. Bidders may also register to participate online and by telephone. Reynolds, age 78, is selling everything, including the kitchen sink (more than 600 personal items). Many of the items are the sort of thing you would expect, such as movie memorabilia, etc... but others are more of a personal nature, such as art and conversation pieces from his home. One item of note is a 1977 Pontiac Trans Am (just like the one he drove in the movie Smokey And The Bandit). Even the football helmet he wore in the Longest Yard will be going on the auction block.

Reynolds auction has learned from public records in Martin County, Florida that Reynolds divorce case (v. Loni Anderson) was reopened in July of 2013 for 'contempt.' Recent filings even include a motion for a writ of execution against Reynolds (a legal order allowing the sheriff to physically take possession of a debtor's assets to satisfy a judgment).  

"Marriage is about the most expensive way for the average man to get laundry done."

Burt Reynolds

Reynolds appears to be making a very astute move here. He will get top dollar for his assets and will likely be able to resolve his financial troubles. This is much smarter than allowing things to reach the point that the county sheriff is hauling things away in a box truck. Separately, there are reports that Reynolds is facing foreclosure as well. A Notice Of Lis Pendens (notice of litigation associated with foreclosure) was made in 2011 (below).  The foreclosure lawsuit was filed over three years ago.

Based on a review of both court cases, it simply appears that Reynolds has run out out of time and has few options here. Whatever you think of Burt Reynolds, he has earned his place as a uniquely American icon. As someone that has been through bankruptcy myself, I know what it is like to have to lose all of my possessions. I never had the wealth of Burt Reynolds, but I can't help but feel bad for him nonetheless. I am sure that the sentimental value of the items being sold is many times the amount they will bring at auction. Something tells me that much of this may end up in a museum somewhere, and that will probably bring more satisfaction to Burt than he realizes right now.

Helping you make the most of God's money!

James L. Paris 
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