[meteorite-list] Update - InnSuites Meteorite Auction

From: MacovichCo_at_aol.com <MacovichCo_at_meteoritecentral.com>
Date: Thu Apr 22 09:55:41 2004
Message-ID: <2b.20834a50.2968d90f_at_aol.com>

Hi Folks!

Last chance! I have only twelve (12) slots remaining for consignments for th=
e Second Annual Meteorite Auction at the InnSuites in Tucson on Sunday, Febr=
uary 10th.

If you wish to make a consignment, please get in touch QUICKLY!=20

Further exciting news:

--We have snagged auctioneer Claudia Florian--a former auctioneer for Philli=
ps & Sothebys--to run this sale;
--The advertisement in the current issue of Smithsonian has already resulted=
 in dozens of catalog requests!=20
--Meteorites confirmed to be offered include, L'Aigle, NWA482, Camel Donga,=20=
Manych, GV, Steinbach, Chassigny, Barbotan, Mauerkirchen, Ensisheim, Shalka,=
 Felix, etc.
--Once again, if you are an exhibitor at the "Arizona Mineral & Fossil Show,=
" you are entitled to consign one lot without having to pay a consignor's fe=
e (courtesy of the Macovich Collection and the Great Zinn).


The Event:=A0The InnSuites Meteorite Auction
Date:=A0Sunday, February 10th=A0 10.30 AM
Location:=A0 InnSuites, Tucson / Poolside
Early Registration/Preview: February 1-9 - 10.00AM - 6.00PM
Day-of Registration/Preview: February 10 - 9.30-10.30AM
Number of lots: 100
Targeted price point: $200 to $25,000
Lots with no reserve: ~40%
Consignor's fee: 10.0%
Buyer's fee: 12.5%
Limit per consignor: 4 lots
Sell-through fee: 3%
Insurance (if desired): 1%


QUESTIONS:

Why should I consider consigning a meteorite to this sale?=20
1. Guaranteed Interest. This offering will be heavily promoted. We are also=20=
building on an outstanding buzz from last year's sale. Further, a number of=20=
outstanding meteorites will be offered with NO RESERVES;=20
2. Marketing commitment. $4000 in dedicated advertising will be spent public=
izing this event;
3. Location. Host to one of Tucson=92s preeminent shows, the InnSuites is ce=
ntrally located and is indisputably Meteorite Central in Tucson;

Where do I sign up?
Right here. Please fill-in the following info. A formal consignment form wil=
l be sent to you provided that your property is accepted for this auction. [=
My interest is only in creating a marketplace for fine meteorites that are p=
riced to sell, and to present this property to a crowd that is eager to part=
icipate in an auction filled with such opportunities.]

Name
Street Address
Apartment or Suite
City
State
Zip
Daytime phone
Evening phone
Email
Description of each proposed consignment:
--Slice or End or Complete or Fragment
--No crust or ~25%, ~50%, ~75% or 95+% crust
--Condition and extent of weathering
Measurement (H x W x D):
Weight:
Provenance:
Reserve:
Will you be present at the auction?



Can you explain what a =93reserve=94 is? A =93reserve=94 is the absolute low=
est fee that consignors accept PRIOR to the deduction of the 10% consignor's=
 fee. The reserve is not published in the catalog. However, consignments wit=
h reserves will be indicated in the catalog with a bullet (*).=20


Why would I want a reserve?
Reserves are used as a mechanism to protect the consignor so that an item wi=
ll not sell for too low a price. However, should a consignment=92s estimated=
 value be less than $300, no reserve will be allowed.


What are =93estimated values=94?
A guideline of what it is believed the consignment should bring at auction.


Do you prefer consignments with either no reserve=85or low reserves?
Yes. Consignments with no reserves or modest reserves are far more likely to=
 result in a successful sale.=20


Can I insist on a high reserve?
No. If the reserve you wish to set is, in my estimation, too high, I will re=
fuse the consignment. The philosophy of this sale is to offer choice merchan=
dise that is attractively priced, which will result in a spirited marketplac=
e.


Are high reserves the only consideration in rejecting a consignment?=20
No. If I believe the consignment competes with too many other similar consig=
nments, it will be rejected. Consignments will be accepted on a first-come,=20=
first-served basis.=20


As a consignor to the InnSuites auction, how much will this cost me?
If your consignment sells, your cost will be 10% of the hammer price (the hi=
ghest bid). If your lot fails to sell, the sell-through fee (and insurance,=20=
if so desired) will result in a cost of either 3% or 4% (w/insurance) of the=
 reserve price of the consignment.


Are there deadlines to be a consignor?
Yes. As a result of catalog deadlines (paper and cyber) the deadline will be=
 whenever the twelve slots are filled...my guess is by Tuesday, January 8th.


There will be a catalog?
There will be printed listing available at the InnSuites room 404, as well a=
s a page at Macovich.com.


Is there a deadline for physically accepting consignments?
Consignments will be physically accepted at the InnSuites room 404 commencin=
g on February 1st for Early Preview. The latest a consignment will be physic=
ally accepted 12:00 Noon on February 5th. If your consignment does not arriv=
e by this time, it will not be included in the auction. If you are a registe=
red consignor and fail to deliver your consignment, you will still be assess=
ed a 3% sell-through fee.


If my consignment doesn=92t sell, how quickly can it be returned?
Immediately following the sale.


How quickly will I be paid after my consignment sells?
In most cases, you will be paid within 24 hours. If your consignment sells f=
or more than $5000, five business days may be necessary. This will depend en=
tirely on the method of payment on the part of the buyer.


That's it. Any questions, don't hesitate to get in touch.

Darryl
Received on Sat 05 Jan 2002 05:32:46 PM PST