Why lotteries over auctions?

J

Jacobkg

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Apr 26, 2020
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Among higher end small production companies (e.g Holt) and custom makers, it seems to be pretty common to hold Instagram or Facebook lotteries for new product. Some of these knives are then immediately flipped on the resale market for as much as double. I understand that the lotteries generate a lot of buzz and excitement but I also wonder why we don’t see more auctions where the makers can realize the full value of their work instead of enriching the resellers.
 
Because a lottery gives a poor guy like me an opportunity to own a blade that would otherwise go to some guy with the time and money to sit at his computer and bid me out of any chance at a piece, just because he can...
 
The Holt’s have done both, last one was a charity one, not all people sell their Holt’s, I just won my first lottery about 2 weeks ago, and its great to pay table price for one, it gives people who wont pay 1400 a chance to get one too
 
justjed said:
Because a lottery gives a poor guy like me an opportunity to own a blade that would otherwise go to some guy with the time and money to sit at his computer and bid me out of any chance at a piece, just because he can...
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To be clear, I am a big fan of lotteries and I definitely want them to continue for the reason you suggest, namely it gives fans a chance to own the brand at a more affordable price. Also it is exciting!

On the other hand I would much rather see the people that want to pay a 2x markup paying that to the maker rather than a reseller. I imagine the makers feel that way as well, hence my wondering why we don’t see more of a mix of lotteries and auctions.
 
Well, I'm not a social being, so it's good I don't know these makers...
I don't need the high blood pressure...
p.s. very satisfied with my little brood of folders..
 
justjed said:
Because a lottery gives a poor guy like me an opportunity to own a blade that would otherwise go to some guy with the time and money to sit at his computer and bid me out of any chance at a piece, just because he can...
Click to expand...

+1^
 
Man times have changed, it seems like not to long ago I contacted the Holt's about their new "Specter" model and as much as I liked it I never made the plunge.
I used to get emails a couple times a week asking if I wanted to have them build me one to my specs for either their "prestige" line or "basic" line, man how times have changed...
 
Jacobkg said:
Among higher end small production companies (e.g Holt) and custom makers, it seems to be pretty common to hold Instagram or Facebook lotteries for new product. Some of these knives are then immediately flipped on the resale market for as much as double. I understand that the lotteries generate a lot of buzz and excitement but I also wonder why we don’t see more auctions where the makers can realize the full value of their work instead of enriching the resellers.
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It's easy. People love the idea of winning something. Ig and Facebook are full of people that like the newest hotness. It helps create the frenzy that drives sales.

It's one of the reasons I don't participate in this hobby on those venues.
 
It's easier for some companies to stack the deck and pull the right guy's name out of the hat with a lottery than with an auction.
 
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