Posted By:
Joe D.Perk.
"Loyalty Reward".
Here is my easy suggestion.
A 2% auction house credit for all consignors and auction lot winners to be used at any future auction.
So... if I consign / purchase $10,000 worth of stuff... guess what? I get $200 of credit toward your next auction.
Could very well increase your consignments, could increase overall valuations --- I may overbid by $200 if its 'free money', and could allow for more loyal customers.
If I have $500 in Sloate Dollars... I am sure going to look to participate in that auction.
I don't see it as a longterm competitive advantage... as once a policy like this is adopted by one auction house - all of the auction houses will follow suit. But it definitely is a loyalty reward in the spirit of JCs #9.