Premier Sports and Americana auction house MastroNet Inc. announced another record sales result for its Classic Collector auction. The all-internet event just topped the highest previous sale of its kind.
The auction featured over 1,400 lots, with all but one selling. Doug Allen, president of MastroNet believes the market for the company's Classic Collector auctions will continue to expand. "Our goal was to attract a wider collecting audience that research told us was there," said Allen. "It appears that we have just scratched the surface of this vital market. It is clear that more and more buyers and sellers like what they are finding at our Classic Collector events."
Also obvious, says the company, is the overwhelming acceptance of MastroNet's new 30-minute closing rule. With this rule only individuals who have bid on an item can continue to bid on it after its initial closing at 9 p.m. CT. Then each lot closes individually after it has not received a bid for 10 minutes. "The result is that the Classic Collector auctions have been closing at a much more reasonable hour. We've heard nothing but positive feedback regarding the new closing policy," said Allen.
Allen says the decision to move to new closing rules was a direct result of customer input and requests. "We're extremely pleased to accommodate our customers in this manner. The end of the all-nighter auction appears to appeal to everyone," said Allen.
The next Classic Collector auction event will be held in October 2005. The consignment deadline is August 5, 2005. The MastroNet Classic Collector auction included lots of both Sports and Americana items.
http://www.mastronet.com
