Quote:
Originally Posted by bcbgcbrcb
Pretty weak effort, might have been better to just wait and put this material in the bigger July auction. Just my opinion.............
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There are a variety of schools of thought on this. You imply that it cheapens the brand to have an auction like this. LOTG makes a clear differentiation between premier auctions and set builder's auctions. They even go so far as to have lower buyer's premiums for their set builder's auction. The other school of thought is it gets to include buyers who might not have the bankroll at this time to participate in the premium auctions.
LOTG is not unique in this regard as Mile High has a very similar model and Heritage with one of the best brands around has their weekly internet auctions.
Outside our little world, Mercedes has introduced lower price offerings and I have not seen their brand diminish.
I think this type of auction helps include bidders now that might not otherwise be able to participate as well as allowing LOTG to accept a larger range of items without requiring the consignor to break up their consignment.