Word: auctioneer
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...those of you who don't know what W is because you are normal, it is an oversize, snotty fashion magazine. The June issue ran this tidbit: "Those adorable newlyweds Vanessa and Bill Getty hosted a gala wine tasting and auction at the St. Francis Hotel with the swell crowd invited"--just a page away from a picture of someone named Muffy Potter Ashton. I mock the magazine partly because I figure if I make the editors mad enough, they will cut me from the spread and no one will have to see the pictures of me. But mostly because...
...indefinite period of time, so please don't leave your name." Like most boutique wineries, Screaming Eagle offers its 500 or so cases to longstanding customers first. Others have to find the wine elsewhere. A 1996 Screaming Eagle--$125 to those on the mailing list--has an average auction price...
When bribery fails, oenophiles turn to auctions and rare-wine dealers. Clark Gibson not only paid $600 for a $59 Sine Qua Non 1997 Imposter McCoy Syrah, he also drove from Chicago to pick it up. At the 20th annual Napa Valley Wine Auction for charity last month, collector Chase Bailey bid $500,000 for a single six-liter bottle of a 1992 Screaming Eagle Cabernet, the highest auction price ever paid for a bottle of wine. Under what circumstances do you imbibe a half-million-dollar bottle of wine? "I haven't the slightest idea," says Bailey. "Maybe...
...University offered $151,751,636 for all 48 acres of MTA land at a blind auction on June 29, but had to undergo financial verification before the sale could be completed, answering mandatory questions such as whether the University has ever filed for bankruptcy or been convicted of a felony...
Priceline must now make its reverse-auction process work with items like gasoline, packaged groceries and credit cards. Such products are worth just as much tomorrow as they are today, giving suppliers little incentive to dump inventory by partnering with Priceline. "The Priceline dilemma, if they can't secure partnerships, becomes one of increasing costs to them and decreasing benefits to their consumer," says Sam Peltzman of the Graduate School of Business at the University of Chicago...