Argentina: Solid-Gold Car Sale

To the big cow barn in Buenos Aires' Rural Association fairground last week flocked the elite of Argentina: society women in Paris gowns, high-booted cattle ranchers, pin-striped nouveaux riches. On a raised runway in the middle of the barn, a professional auctioneer commanded all attention. At the rate of 72 a day—one every seven minutes during three sessions daily—the auctioneer sold new 1961 autos from Europe and Detroit. In the frantic bidding, a Fiat went for $7,000, a Ford station wagon for $15,000, a Buick for $23,000, a Cadillac for an incredible...

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