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Bid Sales

SL Market Letter Bid Sale
HOW OUR TELEPHONE BID SALES WORK

BIDDING
Written bids (form provided) are accepted for approximately 30 days. Authenticity of the bids are guaranteed by John R. Olson, Inc. The highest three or four (approx.) bidders will be invited to participate in a conference phone call. All final bidders are introduced to the other bidders and their ability to participate verified to Olson, Inc. by a letter-of-introduction from their respective banks at the time of initial bids. This will avoid the cost of a formal “letter of credit” while providing some assurance that everyone is at the right party.

Increased bids will be honored by phone before the group phone call. If for any reason a highest bidder does not fulfill their obligation within five business days, the sale will defer to the next highest bidder, with defaulting bidder(s) responsible for the difference.

Click here to view some of our Past Bid Sales with feedback from bidders and sellers.

FEES
John R. Olson Inc., charges a total of 8.4% to 12.4% (lower as sale price climbs) of the final selling price, divided equally between the buyer and seller, plus a $1000 sale implementation fee ONLY to the seller. While there is no announced minimum sale price the seller has one opportunity shortly before the final conference phone call to abort the sale if in the seller and John R. Olson Inc.’s opinion bidding is unrealistic. This has not occurred in previous sales.

The forms for this sale are proprietary and will only be mailed to serious prospects for $20 payable on the phone via credit card. There are no other up-front fees for bidders.

INSPECTIONS
Serious shoppers are in most cases able to talk with the current owner and view key historical records. John R. Olson, Inc., also prepares a detailed “Condition Report” of strengths and weaknesses. Personal inspections (or sending your mechanic) are handled as you would in a private sale. Cars can be seen and driven (weather and condition permitting) by appointment at a service facility with hoist, between 9:30 AM and 3:30 PM on weekdays. Airport and/or lodging suggestions will be made when appointments are made.

Direct all seller and buyer inquiries through John Olson. If he is not available at his office, 612-377-0155, send an e-mail to Olson@MBseek.com

WHY THIS IS A GOOD IDEA
First, bidders can learn more about this car up front than is ever available about cars at auctions; you have all the opportunity of a normal car purchase to inspect the car, drive it, and study its service records. Secondly, John R. Olson Inc., guarantees the authenticity of all bids, another big concern about auctions. Functioning without huge overhead, our administration fee is also considerably lower.

For bidders, the sale essentially comes to you in the convenience of your office or home (or car!). Our accompanying Condition Reports are conservative but cannot replace each bidder’s responsibility for final value or suitability for his or her purposes.

Cordially,
John Olson