As explained in our previous post, the Soft Auction of the Rochet-Schneider 26-Six has now started, going downwards.
Basically, the opening price has been set at €165,000.
If there is no buyer at this price after two weeks, the price will be lowered. And so on, until the first offer is received. Participants then have 3 days to decide to outbid this first offer, or not.
That being said, participants can choose between two tactics to try winning the auction at the best price.
Tactic n°1: you wait for the opening price to drop without doing anything at all.
Once a participant has decided to launch a first offer, you still have 3 days to decide to outbid this offer, or not.
Example: You set your own target at €100,000. You wait for the bidding to fall below this amount: €90,000 for instance. Then, after another participant has set the first offer, you can start bidding. If the bidding stops before your target price, you have made a good deal.
Tactic n°2: you decide to make the first offer when the opening price has fallen to a level that suits you.
Other participants can outbid your offer, but you have the status of “privileged bidder“. This means that the seller (JWA Classic in this case) will pay you back 5% of hammer price, should you win the auction.
Example: You still set a target of €100,000 but, unlike in tactic #1, you declare yourself a buyer once the price has dropped to €90,000.
If there are no other bidders within 3 days, the net price paid will be €90,000 minus JWA Classic’s participation, i.e.: €90,000 – 5%(€90,000) = €85,500.
If there are other bids and you are finally the highest bidder at €100,000, you will only pay €100,000 – 5%(€100,000) = €95,000.
As previously experimented with Soft Auctions, the system rewards the participant to who makes
the first offer.
It’s worth thinking about the most appropriate tactics. Will the benefits of waiting for the lowest price outcome the benefits of being the first to make an offer?
The price is now set at €160,000
In any case, the sale is limited to registered users. Once the registration form is completed, we will get in touch with you and schedule a phone call to validate your registration.
Registered participants will be informed in real time on any new update on the sale, new offer received or when there is a price change. They will get access to the page from where they can directly send their offers.
There are no fees to participate to the Soft Auction. We only ask buyers for a contribution of 1% of the final price to support medical research. The same amount of money will be paid by JWA Classic.
To see all the details on the Rochet-Schneider 26-Six.
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