Mark Russo: researching the market after one auction worked

Russo told Richard that a successful charity auction led him to investigate how many similar events existed.

The first event raised a new question

He recalled making sales at one fundraiser and then asking about the number of live gala auctions. Research followed the initial result. The sequence matters because the business had an example to examine before considering a broader market.

Research concerned distribution

Russo described auctions as another route for placing sculptures, alongside galleries and cruise ships. The research gave him a way to consider auctions as a repeat distribution channel.

In Mark Russo's words

"after doing it like well this worked at one event why couldn't we do it at another event" (Mark Russo, recorded interview with Richard C. Wilson)

How to use this

Use the first event to record what buyers actually selected.
Research comparable venues before building a repeat program.

Questions and answers

What followed the first event?

Russo said the company researched the wider live-auction market.