The Phoenix Business Journal is reporting that Barrett-Jackson may add a fourth high profile auction to the tree it currently holds in Las Vegas, West Palm Beach, and Scottsdale. This one would be held in Orange County, California.
While it seems counter intuitive to be adding auctions when prices are in a period of decline, the auction house makes it’s money on a sellers’ fee that is a percentage of a sale price of each vehicle. If selling prices drop, the only way to recover the revenue is to increase the volume of sales. Adding an auction would do just that.
As the story reads, Barrett-Jackson refuses to say whether or not it is bunk, but there is a suspicion that the truth will be revealed during this week’s Barrett-Jackson coverage on Friday.
