Quote:
Originally Posted by Snapolit1
Scott - best of luck with this. I question whether you are going to get enough people at the Parsippany NJ show on a Tuesday night with cash in pocket to really make a live auction work, but I'm sure you've given it a lot more thought than I anyone else on the board has. (Of course, I could accept the occasional proxy from a board member and drive over. Industry's lowest commission to be sure. Plus surcharge for mileage. And a dinner stipend at the Wendy's up the road.) If I make it next week I'll say hello.
The other option is you could accept bids by email or phone and, like Christies, just open the bidding at that amount. May not be the transparancy you are looking to convey though.
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Well part of the benefit of teaming up is it doubles the promotional effort. If I was relying on the current crowd I would have to agree with you but we will put our marketing effort behind this as well now and hopefully bring in a whole new crowd. It won't happen overnight and I doubt we make a killing any time soon, but I think it's a strong marriage that will yield results.
As an example, at the show I promoted in the Poconos this fall, it did not go great. We only had about 60 paid admissions and 18 registered bidders. The auction was at the end of the show. So nearly one third of my admissions were there, in part, for the auction, how many would not have come at all if not for the auction?
Parsippany should yield even stronger results because it's two different companies both marketing their own area as opposed to one company trying to market two different things. I only had the same lists of people to hit over and over, I tried like mad to expand those lists, but you're limited. Now Joe and I start with two completely separate lists, we should hit a LOT more people.
Anyway, if you can't tell, I am passionate about this, but not blinded by that passion, I appreciate the thoughts and comments and it's always possible someone hits me with something I haven't thought about yet!