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Re: [Tigers] Russo and Steele

To: <tigers@autox.team.net>
Subject: Re: [Tigers] Russo and Steele
From: "Cullen McCann" <CMcCann@lwpb.com>
Date: Thu, 20 Dec 2007 15:50:00 -0600
Good question...had to go to the FAQ of their site to answer. This
auction does have reserves.

"Why does Russo and Steele "Welcome and encourage Reserve Entries"?
With the ability to offer 500 exclusive "Prime Time" lots in January,
the quality of the consignments are much better when sellers have a
"safety net". In addition, as long as a seller has a market relative
reserve, it is the obligation of the auction house to sell the car for
the most money. This does not include "beating up" your clients or
coercing them into a No Reserve situation by offering Prime numbers only
to No Reserve entries. Auction sales should offer ALL cars during a
prime time! This is the primary reason that Russo and Steele only sells
at the hottest times for any market. "

I agree, with a quarter mil invested, his reserve cant be that low. I
guess I'm betting on how high the bids will go, not necessarily the
selling price.





In a message dated 12/20/2007 4:07:02 PM Eastern Standard Time,
jxnichols@sbcglobal.net writes:

I'm in  for $55,000.

1.  Bill Lau MrLau@Charter.net -- $80,000
2.   Cullen McCann cmccann@lwpb.com -- $65,000

3.  Jeff Nichols  jxnichols@sbcglobal.net --  $55,000
_______________________________________________


Does this auction allow reserves?  I doubt that the seller  would let it
go for $55,000 or maybe even $80,000.  Will definitley be  interesting.



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