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Auction Watch: Carlisle Waiving Consignment Fees

by Keith Cornett on March 18, 2008

Corvette Auction Underway at 2007's Corvettes at Carlisle

In an effort to redefine itself after last year’s lackluster Corvette auction results, the Carlisle Event’s in-house auction shop has decided to waive the general consignment fee for the 2008 Spring, Corvette and Fall auctions. The standard consignment fee of $250 was an upfront cost to the seller for entering the car in the auction and the move is an attempt to shake up the auction market by trying to entice more sellers to list their cars at a Carlisle auction.

Michael Cornfield the Senior Director of Marketing for Carlisle Auctions said, “The strategy behind this shift is to entice additional auction registrants who will be more likely to partake in the live auction process. Based on the industry-wide decline in sales figures, we believe this will create the buzz needed to break through the now saturated auction market.”

Traditionally, auction houses make money on both buyers and sellers before a single car crosses the block: A consignment fee from the seller for listing the vehicle and a registration fee for bidders. If the Corvette is sold, then the auction house collects a commission from both seller and buyer. The consignment fee would normally be enforced on reserve auctions to protect the auction house from a no-sale. There are some stipulations with Carlisle’s free consignment offer: One consignment per person, your car will be sold outside the prime time hours of Friday and Saturday, and you need to provide the required photos and vehicle descriptions in advance of the deadline, which is July 15th for the Corvette auction.

The free consignment offer should do much to bolster the selection of the Corvettes available at this premier venue and will hopefully bring in the buyers as well. Another change in store for the Carlisle auction is the auction house will no longer be charging a $100 bidder registration fee. So with more cars available for sale and less up-front costs for potential buyers to register, the event could very well get the boost it needs to once again propel the Corvettes at Carlisle auction back to one of the elite Corvette auctions in the Country.

The Corvettes at Carlisle Auction will be held at the Carlisle Expo Center in Carlisle, PA on August 22nd-23rd, 2008 and the deadline for the free consignment offer is July 15th, 2008.


Source:
CarlisleAuctions.com

Related:
Auction Results: Corvettes at Carlisle 2007

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