| The auction houses are shifting away from traditional marketing concepts and evolving their marketing practices towards experiences that expand the auction houses into lifestyle brands, experiential marketers, and luxury service providers. This new experiential marketing platform is best understood by learning from other luxury industries, luxury brand relevance, consumer expectations for a luxury experience, lessons from specific auction house marketing experiences, and new uses of technology to communicate these experiences effectively. Auction house marketing must meet client expectations with specialized luxury experiences that reflect their luxury products, services, and lifestyle. More choices, sophistication, and targeted marketing in the luxury market have elevated consumer expectations for personal, engaging, and lifestyle experiences. Auction houses will continue to push the boundaries away from their traditional roles, as their increased experiential marketing strategies move them beyond being luxury good purveyors and into complete luxury lifestyle service brands and providers. |
