Quick-bowtie's collector car auction..

[quick-bowtie]

I think it’s about time to let the cat out of the bag. As some of you already know I've been busting my hump the last couple months to put on a collector car auction. This is something I've always wanted to try and I want to change a few things I think could be improved on.

A good friend and I teamed up and started Rinstad Auctions LLC, we have worked very hard to get what we feel is a GREAT location for our first auction. It will be held at Mall of America September 12th and 13th 2008 with a open viewing all day on the 11th in Bloomington, MN. Mall of America is among the top tourist destinations in the country and attracts people from all over the world. They average over 100,000 guests daily. It is located across the highway from MSP/St. Paul airport and is a 5 minute cab ride to the front doors (light rail is also available). There is no need to rent a car, everything you could ask for is on site and there are plenty of hotels surrounding the area.

Now here is what I feel the BEST part is! What wife is going to tell her husband he can't go to the auction when its being held at the largest shopping destination in the country? I predict wives will be demanding that there husbands attend. .lol.

In addition to shopping for the wives the mall also has Americas largest indoor amusement park for the kids, along with countless other activities. The Radisson hotel across the way is also home to Water Park of America which has Americas largest indoor waterslides, and there is also great spa on site.

Needless to say this will be fun for the WHOLE FAMILY and price ranges for every bidder!!


Here is just a short list of what I feel is important and what I want to improve on.

I’m making this free to the public to view, as far as I know I’m the only one doing this, and I think its important to let as many people see these cars as possible. I remember my father taking me to car shows and auctions as a kid and now a days it’s hard for the average family to attend when viewing prices are between $25 and $50 a person. The younger generation needs to see and appreciate these cars for this hobby to continue to grow.

Customer satisfaction, it seems to be lacking a little these days, Im not saying I can make everyone happy but I will definately try and use common sense and try to live by the term the customer is always right.

I’m limiting the consignments to around 200 cars. I feel this way I can be a little more selective on the cars we consign. No one wants to go to a sale where the cars have high reserve prices that wont sell. I want to try to only except cars that I feel have a great chance at selling, and the other reason for 200 car limit is I don’t want 4 or 5 cars of the same make and model I think that really hurts the prices on quality cars.


Sure, I’m doing this as a business and I’m learning it takes a lot of money and time to put on a good venue, but I also have learned long ago that slow and steady win's the race its definately not all about the money for me. I think the commissions and fees have gotten way out of hand so I’m trying to keep ours down as much as possible considering the number of cars we will have.

Consignment fees will be at $350 (lowest around for a bigger venue) and commission's will be at 7% with reserve and 4% with NO RESERVE, and buyer's commission's at 7% and bidder registration cost of $50 (free if you consign)

I’m doing a ramp style system on car placement, you WONT see a $20k car mixed in with $150k cars.. prices will build through out the day and start to wind down as we come to a close I think this keep's the ball rolling and build's excitement. This also eliminates peoples thoughts of a friend or collector in the inner circle getting the best numbers, cars will be placed according to value.

I will also be placing VIN numbers to all cars consigned on our website to give prospective buyers as much time as possible to do research on the car/cars they have interest in.

I just wanted to fill everyone in on what I think will be a great auction and time but more IMPORTANTLY wanted to get IDEA'S from member's on what else I can add or change to make this a better event.

Also If anyone is interested in becoming a sponsor Id be interested in talking with you.

I will also have about 100 vendor spaces available. The Mall gets $8000 PER DAY for a weekend to have a spot inside,

I’m charging $650 for 15ft of frontage for all 3 days outside right in front of the main entrance to the mall (The area will be fenced off and secure with security 24hr.) I truly feel this is the cheapest and best advertising a business owner can get in today’s world with the Malls daily traffic and being free to the public your product will be seen! Selling on a first come basis.

I’ve got a few high end quality car's already consigned and hope to have our website up be the beginning of next week, advertising has started.

From Yo-Yo’s to Yenko's and from Hemi's to handbags come September 12th and 13th You can find them all at Mall of America.