Burt Reynolds Says He’s Not Broke, Auction Is Just ‘Cleaning House’

Burt Reynolds would like to reassure you that, despite the huge auction of movie and personal memorabilia scheduled for later this month (according to this Inquisitr report), he is not broke. He’s just “cleaning house,” as he says.

A quick look at the list of things Burt Reynolds is auctioning off later this month (a list of the items to be auctioned can be seen here) might lead you to think that he’s broke; after all, he’s letting go of some rather priceless pieces, including:

• The black-and-gold 1978 Trans Am from Smokey and the Bandit.
• His trademark red jacket, also from Smokey and the Bandit.
• His Golden Globe trophy from Boogie Nights.
• Various trophies, awards, photographs, and the like.

The 78-year-old Reynolds tells Entertainment Tonight that, contrary to popular belief, he’s not broke.

“I want everyone to know that contrary to what all the news outlets are saying, I am not broke. I have been dealing with a business dispute for many years as well as a divorce settlement. I am simply selling some of my memorabilia that I have enjoyed for so many years but do not have use nor room for them anymore… Quite frankly, I am sick of so many pictures of myself in my own home.”

Whether or not Burt Reynolds is telling the truth about not being broke is up for debate, however.

According to the New York Daily News, the 70s and 80s superstar was near penniless when he filed for bankruptcy in 1996, thanks to bad investments and a costly divorce from actress Loni Anderson. His 1996 bankruptcy wasn’t settled until nearly a decade after filing.

Reynolds is also caught up in a legal battle with his mortgage company over his mansion in Jupiter, Florida.

The mortgage banker says that Burt Reynolds hasn’t made payments on his mansion since 2010. And he’s been trying desperately to unload it: he originally wanted $15 million for it, but as of this post, the asking price is down to just under $5 million, according to Gossip Extra.

Regardless of how things play out with his mansion, Burt Reynolds is hardly destitute. According to Celebrity Net Worth, he’s worth $5 million, which admittedly isn’t much by movie-star standards, but is not zero. Further, according to IMDB, he has several TV and movie projects in the works, so he’s clearly bringing in an income.

Do you think Burt Reynolds is telling the truth when he says that he’s not broke?

[Images courtesy of: L.A. Times, Gossip Extra]