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1<br />
Lei tfa den Plau sib il isie run g.pp t<br />
- 259 -<br />
Two objections to current industry-specific price regime<br />
Frequency<br />
Pricing model focused on single transactions<br />
High<br />
Low<br />
Lei tfa den Plau sib il isie run g.pp t<br />
Selective strategy:<br />
depending on specific<br />
strategy and of process<br />
efficiency of company<br />
Need to eliminate this<br />
combination<br />
Need to implement<br />
pricing logic that boosts<br />
high hammer price AND<br />
frequency of transactions<br />
Current price regime:<br />
The higher the hammer<br />
price the lower the<br />
percentage margin,<br />
irrespective of transaction<br />
frequency<br />
Low High<br />
Hammer price<br />
Verkäufer Seller<br />
Above all, single transaction logic conflicts with CRM-logic<br />
Ph D rese arch Joha nn es Schn ei der – n ot for di str ibu ti on ( priva te )<br />
Ph D rese arch Joha nn es Schn ei der – n ot for di str ibu ti on ( priva te )<br />
2<br />
Price regime not transparent because of<br />
multiple pricing components<br />
Preiskomponenten<br />
Provision<br />
Gebühren<br />
("Commission")<br />
("Fees")<br />
• Prozentual-de gressiv •Sensalgebühr<br />
("sliding scale") •Verzugszinsen<br />
US D<br />
800<br />
%<br />
25 •Versicherung<br />
Buyer Käufer<br />
600<br />
20 •Lagergebühren<br />
•Transport<br />
400<br />
200<br />
15<br />
10<br />
5<br />
0<br />
0 500 1000 1500 2000 2500 3000 3500 4000 4500 50000<br />
Ha mmer preis in . 000<br />
•Prozentual-degressiv<br />
•Nach Vereinbarung<br />
%<br />
15<br />
10<br />
5<br />
15.0<br />
0<br />
bis 1.000<br />
12 .5<br />
bi s 10.000<br />
8. 0<br />
über 10.000<br />
X Axis<br />
Only few levers for improvement are availableP<br />
Price elasticity as important decision criteria further narrows down available options<br />
Focus<br />
1<br />
Introducing Introducing incentives for<br />
frequency AND high price<br />
2<br />
Option 1.1: Monetary benefit 1<br />
Average lot size<br />
Reduction of commission<br />
Number of tr ansac tions<br />
(Consignments & Buyings ä<br />
Option 1.2: non-monetary benefits<br />
• Benefits are not cash-effective for customers<br />
• Basic logic can be compared to frequent flyer<br />
programms of airlines<br />
• Katalogherstellungsbeiträge<br />
• Vorschusszinsen<br />
• Transport<br />
• Versicherung<br />
• Zurückziehungsgebühr<br />
• Ausbietungsgebühr<br />
• Limitgebühr<br />
•Sonstige<br />
Bearbeitungsgebühr (z.B.<br />
für Nachforschungen)<br />
Reducing price components and<br />
streamlining pricing communication<br />
Option 2.1: Flat Rate<br />
Option 2.2: Reduction to 3 – 5 price components 2<br />
Perceived<br />
price<br />
Price communication<br />
destroys value<br />
Perceived price =<br />
actual price<br />
Price communication<br />
creates value<br />
Actual price<br />
1. Transaction frequency and average lot size serve as proxy for customer value. Since custom er value is a condensation of many internal and qualitative assessments, it must not be shared with<br />
customer. However, customer needs to understand why she is awarded a benefit or not.<br />
2. Maximum number of pricing components mentioned in pricing literature.<br />
Stimulating demand by reducing commissions not realistic<br />
Dummy simulation of required demand increases in case of price reductions<br />
Lei tfa den Plau sib il isie run g.pp t<br />
Backup<br />
DB1 - Marge vor Preisreduktion<br />
Delta<br />
Preis<br />
0,85 0,8 0,75 0, 7 0,65<br />
0,6 0,55<br />
0,5 0,45 0,4 0,35 0,3<br />
0,25 0,2 0,15<br />
-5% 6% 7% 7% 8% 8% 9% 10% 11% 13% 14% 17% 20% 25% 33% 50%<br />
-10% 13% 14% 15% 17% 18% 20% 22% 25% 29% 33% 40% 50% 67% 100% 200%<br />
-15% 21% 23% 25% 27% 30% 33% 38% 43% 50% 60% 75% 100% 150% 300% -<br />
-20% 31% 33% 36% 40% 44% 50% 57% 67% 80% 100% 133% 200% 400% - -<br />
-25% 42% 45% 50% 56% 63% 71% 83% 100% 125% 167% 250% 500% - - -<br />
-30% 55% 60% 67% 75% 86% 100% 120% 150% 200% 300% 600% - - - -<br />
-35% 70% 78% 88% 100% 117% 140% 175% 233% 350% 700% - - - - -<br />
-40% 89% 100% 114% 133% 160% 200% 267% 400% 800% - - - - - -<br />
-45% 113% 129% 150% 180% 225% 300% 450% 900% - - - - - - -<br />
-50% 143% 167% 200% 250% 333% 500% 1000% - - - - - - - -<br />
Delta<br />
Delta<br />
Preis<br />
Preis 0,85 0,8<br />
0,8 0,75<br />
0,75 0, 0, 7<br />
7 0,65<br />
0,65<br />
Erforderliche Preiselastizitäten<br />
0,6<br />
0,6 0,55<br />
0,55 0,5<br />
0,5 0,45<br />
0,45 0,4<br />
0,4 0,35<br />
0,35 0,3<br />
0,3 0,25<br />
0,25 0,2<br />
0,2 0,15<br />
0,15<br />
-5% -1,3 -1,3 -1,4 -1,5 -1,7 -1,8 -2,0 -2,2 -2,5 -2,9 -3,3 -4,0 -5,0 -6,7 -10,0<br />
-10% -1,3 -1,4 -1,5 -1,7 -1,8 -2,0 -2,2 -2,5 -2,9 -3,3 -4,0 -5,0 -6,7 -10,0 -20,0<br />
-15% -1,4 -1,5 -1,7 -1,8 -2,0 -2,2 -2,5 -2,9 -3,3 -4,0 -5,0 -6,7 -10,0 -20,0 -<br />
-20% -1,5 -1,7 -1,8 -2,0 -2,2 -2,5 -2,9 -3,3 -4,0 -5,0 -6,7 -10,0 -20,0 - -<br />
-25% -1,7 -1,8 -2,0 -2,2 -2,5 -2,9 -3,3 -4,0 -5,0 -6,7 -10,0 -20,0 - - -<br />
-30% -1,8 -2,0 -2,2 -2,5 -2,9 -3,3 -4,0 -5,0 -6,7 -10,0 -20,0 - - - -<br />
-35% -2,0 -2,2 -2,5 -2,9 -3,3 -4,0 -5,0 -6,7 -10,0 -20,0 - - - - -<br />
-40% -2,2 -2,5 -2,9 -3,3 -4,0 -5,0 -6,7 -10,0 -20,0 - - - - - -<br />
-45% -2,5 -2,9 -3,3 -4,0 -5,0 -6,7 -10,0 -20,0 - - - - - - -<br />
-50% -2,9 -3,3<br />
-4,0 -5,0 -6,7 -10,0 -20,0 - - - - - - - -<br />
Ph D rese arch Joha nn es Schn ei der – n ot for di str ibu ti on ( priva te )<br />
14<br />
15<br />
16
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