Word: sales
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Highlight Reel:1. On Christie's chief auctioneer, Christopher Burge: "Many would die to get their hands on Burge's highly confidential 'book.' It's a sort of script for the sale. Tonight's contains sixty-four pages, one for each lot of art. A single page contains an annotated chart of where everyone is sitting, marked with who is expected to bid and whether that person is an aggressive buyer or a 'bottom-feeder' looking for a bargain. On each page Burge has also recorded the amounts left by absentee bidders, the seller's reserve (the price under which...
Carmakers are also moving up year-end-sale promotions in a bid to get consumers back to the showroom. "We'll see the year-end events start as soon as the election is over," says Jim Farley, vice president of sales and service at Ford Motor, where sales dropped 30% last year...
...Ever since post-war Japan tied its economy to innovation, the quest for novelty has assumed frenzied proportions. Most Japanese TV ads for food and drinks incorporate the mantra shin hatsubai, which roughly translates as "new product for sale." Indeed, Japan is the world's speediest economy when it comes to bringing new products to market, according to a study of 31 nations published in the September/October issue of Marketing Science. (Norway was second, with the U.S. ranking sixth.) Even international brands target the insatiable Japanese market differently. Pepsi, for instance, has introduced Japan-only products such as Pepsi White...
...holiday debt from last year. Shoppers indicated they would purchase a lot fewer gifts this year - 21.5 presents on average compared with 23.1 last year. Almost seven in 10 said they intend to change their shopping behavior because of the economy; 81% say they plan to buy more sale items. "Over the last few holiday seasons consumers would buy for themselves too as they shopped, but there will be a pullback on this," says Janiak from Deloitte. The good news: those who received a federal government stimulus check over the summer said that, on average, 20% of that money remains...
...What They're Selling In Namibia: On Oct. 28, Namibia's government held the first legal ivory auction since 1999, with more than seven tons of elephant tusks raising over $1 million from buyers in China and Japan. The sale--sanctioned by an international-wildlife-trade agreement--will soon be followed by auctions in Botswana, Zimbabwe and South Africa, with the proceeds earmarked for elephant conservation efforts. Detractors say the auctions could rekindle black-market demand for ivory...