It’s mid-summer and the buying and selling of classic, luxury and exotic automobiles is in full swing. The month of June was unusually active, especially when you consider the impact of the first-time annual Barrett-Jackson Northeast, held at the Mohegan Sun Casino and Resort, near the eastern Connecticut border. Press time (and, as a consequence, deadline for this Publisher’s Letter) was just before the opening night at the Mohegan Sun. But, there are some interesting observations.
First, advance gate sales were much higher than expected. This is a result of Barrett-Jackson tapping into an auction-starved market with an intensive and sensitive marketing campaign. Second, we are told, there was a very, very busy consignment effort leading to an early closeout. Remember, it is a 3-day (Thursday, Friday, Saturday) event with no Sunday auction. Summertime days off are important to New Englanders, so Barrett-Jackson has correctly “nailed it” on this one. Third, is location -- The Mohegan Sun is not exactly immediately near any metropolis (i.e. Scottsdale, Las Vegas, Palm Beach), but it is still very close to everywhere (Boston, New York, even Canada!) Good choice.
So, it could be concluded that this will be an experiment with a very high percentage of potential success. Marketplace timing is the only open issue and while that remains to be proven (at press time) by the time you read this you will know (and so will I!)
Other marketplaces (jewelry, fine accessories, watches) seem to be quieter than cars. Today’s enthusiasts tend to value the experience along with the purchase of “something”. How do you convey a solid message to the consumer? Try allowing a potential buyer to “discover traditionally” (duPont REGISTRYTM and duPont REGISTRYTM/LIVE Events) and “explore digitally” (duPontREGISTRY.com and Autofluence.com). Whether your market is quiet or noisy, now is the time to utilize this multi-level approach to finding a buyer for your product. We are here and ready to help!
So much for seller’s advice. Buyers must also learn to take advantage of new opportunities to purchase any and perhaps all items on their bucket list. While “disintermediate” is a popular term, it has varied interpretations. Here at the duPont REGISTRYTM we try to put products in front of you, the buyer, without any distractions -- just you and the seller. This is a great way to maximize your valuable time for discovery and refine your exploration search. We are here and ready to help -- in person, on paper, and on the internet.
Happy Motoring and Happy Summer!
Thomas L. duPont
P.S. Way back in early June (the first weekend) was the fabulous Greenwich Concours d’Elegance. It was a Saturday-Sunday event that provided for our first ever duPont REGISTRYTM/LIVE event on Saturday night. Over 300 guests were treated to an exquisite meal, a beautiful setting, select accessories, fine yachts, and an overall grand evening. All for the benefit of AmeriCares, the featured charitable recipient of the entire weekend. If you missed it, you should definitely block the first Saturday in June 2017. Hint: get your room reservations now! The town was packed! See you there.