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Friday, November 2, 2012

Reverse auction: How low will he go?

It's time for more fun with Mid2Mod. My SIL is going to hold the first-ever reverse auction (sometimes called a Dutch auction) at the store today, starting at noon (Central Daylight Time).

Up for grabs is this beautiful turquoise sofa by Grete Jalk, which has been marked down in the store from $2500 to $1650. But today it could be yours for a fraction of that price!


Sofa by Grete Jalk for Glostrup

The rules are simple. Joe is going to start the bidding on this item at $1500.00. Every 30 minutes he's going to reduce the price of the sofa by $50.00.

When you reach a price you can live with, you can either post on Facebook or email  him at joe@mid2mod.com and tell him to stop. Wherever you stop him will be the agreed upon sale price.

He says he will take this sofa all the way down to $50.00 if he has to, so you could get a real steal if you have the nerves for it. But will someone grab it right out from under you if you don't stop Joe soon enough? Only time will tell.

If you out-of-the-area folks hold out and get this sofa for pocket change, you'll be able to afford shipping. We'll help you get a good rate.

So join in the fun on Facebook today...and good luck!

16 comments:

  1. I feel sick. We would never be able to buy something as beautiful as that sofa for that kind of money here Dana. Never! Someone is going to be very lucky. I'm jealous.

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    1. What would you guess a sofa like this would cost there?

      I honestly think $1650 is a great price already, and he's going to knock $150 off that price just to start the auction. It's going to be interesting to see what happens.

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    2. Off the top of my head at least $5000 - probably more!

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    3. The original price of $2500 was good, as important a designer as Jalk was. A similar one is going for $3400 on 1stdibs.

      I think that sometimes don't think about price in terms of the broad market. Here in the States, you can drop up to $1500 on an IKEA sectional. I'd definitely rather put my money in a solid mid-century sofa that's lasted 60 years and is likely to last another 60. The IKEA one sure won't last that long!

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    4. Even Ikea is more expensive here than most places. That's why I don't shop there (only very rarely for stuff like picture frames) I must be one of the few people around who thinks it's far too pricey and the quality is not good. You always see Ikea furniture on people's verges during collection time - I reckon that's saying something!

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  2. I look forward to seeing the result! Very exciting!

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    1. One of the things I love about my SIL is that he believes everything should be fun, even running a business. :)

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  3. Wow!! That is one gorgeous sofa. Whoever get's it is VERY LUCKY!

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    1. It's even more gorgeous in person than the pictures show. Somebody is going to be happy before today is over!

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  4. I have never heard of a Dutch auction...this will be interesting. That sofa is AMAZING!

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    1. To me, a Dutch auction is even more nerve-racking than a regular auction, because it combines the guesswork of a silent auction with the pins and needles of worrying that someone will stop the auction before it gets to the price you're waiting for.

      This should be good!

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  5. This giveaway that your SIL cooked up is insane! Best of luck to participants (too bad I do not have space for a sofa).

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    1. He's constantly coming up with something new, that's for sure!

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  6. Gorgeous sofa! Will be checking in to see how it turns out.

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    1. People were emailing my SIL with totally frazzled nerves. This turned out to be a lot of fun.

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  7. The sofa sold to a lucky buyer for $800! What a heck of a deal on a Grete Jalk piece. When it got down to $850, I almost bought it myself.

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