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New auction house wants to give high-tech treatment to cars

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If you’re looking for an easier way to spend a million dollars on a collectible car, then up-and-coming auction house Finest Automobile Auctions is for you. The new house is hosting its debut event at The Elegance at Hershey this June in Pennsylvania offering both live onsite and online bidding.

Instead of holding a traditional auction, everybody at the event will be equipped with a tablet into which they enter bids. They compete with others on site and also those registered at home via a partnership with online auction service Proxibid.

This ought to change the atmosphere in the auction house, and may help eliminate “grinders,” those who pressure sellers to lower their reserve as the bidding goes on. Behavior like this can crop up at big live sales, where we sometimes see the seller surrounded by a couple auction workers trying to get him or her to lower the reserve rather than risk a no-sale…

Read more: http://autoweek.com/article/auctions/new-boutique-auction-house-wants-give-classic-car-sales-high-tech-edge#ixzz4BaraTU1x

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