Has there ever been any consideration given to a Net54 Sports Auction site? I don't mean the basic B/S/T or auction page that's active today. I mean a site that would provide similar functionally, depth and scope as the major auction houses.
The business model could be really interesting considering that lots (most?) of the product for these auction houses come from all of us. Rather than consignor > auction house > buyer, it could be something like member > selling fee > buyer.
Participating members would be entitled to a part of the “house” proceeds and/or reduced sales fees. Management would be under the control of an elected board. Buyers would receive their winnings based on the parameters set by the board (reduced fees, timely, safely, etc.). Operational activity could be managed in-house or sourced to a third-party that follows the rules set by the board.
Tom has successfully made this transition on the non-sports side of the business. He follow’s a more traditional auction site model, but has been able to offer discounted fees (at least initially) and personalized service.
Yes, I know that at this moment Leon is doing his very best to just keep the lights on here, but maybe there’s a future opportunity to take/keep more margin dollars and have more control of the overall process.
Jeff
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