Excursion Tickets - How about "Dutch" Auctions?
| June 04, 2008 04:22PM |
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Hi, All -
One possible solution to problems such as that mentioned by John West on another thread might be to market the tickets using what is/was called a "Dutch Auction", whereby the price is set high initially and then reduced by a few dollars each day until the item is sold. This avoids having to guess at the "sweet point" where the price is high enough to make money but not so high that not enough tickets get sold.
For example, with the DRHS/C&TS trips planned for mid-June, the initial price might have been set at $250 or $300 (with appropriate discounts for members of the sponsoring organization), and tickets sold beginning May 1st. Each day the price is dropped $5.00 until (hopefully) all are sold. This way, those who have big bucks or really, really just HAVE to go on a particular trip can pretty much guarantee getting a ticket by purchasing one at the premium price during the first few days they're available, and those of us on a limited budget can take a chance and wait a week or two in order to save forty or fifty dollars if any tickets are still unsold.
It's probably too late to do this with the #315 Moonlight Train on June 18th, as those who have already paid top dollar might object to others getting aboard at a lower cost, but if it would help to save the trip the DRHS and/or C&TS could post a message here and give it a try ...
- El Curmudgeono Viejo y Verde
Edited 1 time(s). Last edit at 06/04/2008 06:41PM by Russo Loco.
One possible solution to problems such as that mentioned by John West on another thread might be to market the tickets using what is/was called a "Dutch Auction", whereby the price is set high initially and then reduced by a few dollars each day until the item is sold. This avoids having to guess at the "sweet point" where the price is high enough to make money but not so high that not enough tickets get sold.
For example, with the DRHS/C&TS trips planned for mid-June, the initial price might have been set at $250 or $300 (with appropriate discounts for members of the sponsoring organization), and tickets sold beginning May 1st. Each day the price is dropped $5.00 until (hopefully) all are sold. This way, those who have big bucks or really, really just HAVE to go on a particular trip can pretty much guarantee getting a ticket by purchasing one at the premium price during the first few days they're available, and those of us on a limited budget can take a chance and wait a week or two in order to save forty or fifty dollars if any tickets are still unsold.
It's probably too late to do this with the #315 Moonlight Train on June 18th, as those who have already paid top dollar might object to others getting aboard at a lower cost, but if it would help to save the trip the DRHS and/or C&TS could post a message here and give it a try ...
- El Curmudgeono Viejo y Verde
Edited 1 time(s). Last edit at 06/04/2008 06:41PM by Russo Loco.
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Russo Loco | June 04, 2008 04:22PM |
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488 stops for water at Los Pinos tank on closing day Oct. 1979. Photo courtesy Don Richter
The NGDF was started by Don Richter and is currently operated in his memory by Nathan Holmes and others. Others who have contributed to the upkeep of this board are (in no particular order): Charles McCandless, Everett Lueck, Ted Wilton, Cole Adams, James Bane, John Moellmer, Jon Bentz, Linn Moedinger, lloyd lehrer, Rod Jensen, John Craft, Steven Forney, Herb Kelsey, Bill Ramaley, Russ Sperry (El Russo Loco), Josh McNeal, John West, Jim Armstrong, Bob Bergstrom, Greg Scholl, Blake Forbes Doug van Veelen and Mark Fuller.