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Non-Tech : MILLIONAIRE. COM........( MLRE ) -- Ignore unavailable to you. Want to Upgrade?

To: Smilodon who wrote (1400)	1/12/1999 10:27:00 AM
From: Bear Down	Respond to of 2664

That is the building that MLRE is moving into.....currently unopened but nearly finished.....contrary to the postings here Message 6932517

To: Smilodon who wrote (1400)	1/12/1999 10:28:00 AM
From: interesting man	Read Replies (1) \| Respond to of 2664

The emporium should be completely finished and ready for auctions late Feb. or march. maybe earlier >>The GLOBAL EMPORIUM is the Company's retail outlet and auction gallery located on the only major highway leading into Hilton Head, South Carolina, a popular upscale resort. It is scheduled to open in late December 1998 and will also house the Company's corporate headquarters in a 20,000 square foot building. One-of-a-kind merchandise and limited reproductions either owned by the Company or on consignment will be on view at all times. Unlike other auction houses, the Company intends to purchase outright a substantial portion of the merchandise it will auction. By acting as a principal, the Company can increase profitability substantially. Management estimates that the average profit margin on wholly-owned goods will be 35%. In addition, the Company will receive the normal 15% buyer's premium when items are auctioned. Management forecasts inventory turning 12 times per year. The GLOBAL EMPORIUM location is sufficient to house the Company's ongoing inventory. Items will be on display for one month prior to each auction, with walk-in traffic having the opportunity to purchase most items off the floor, provided that they are willing to pay the "full" retail markup. Auction catalogs will be mailed to the Company database, Millionaire subscribers, and will be featured in their entirety on the Company's Internet site. GLOBAL EMPORIUM auctions will be presented "live" on the Millionaire.Com site. – Clearing House Regional Auction Galleries The fourth component of the Company's business strategy is its extension into the antiques and collectibles marketplace through the creation of the clearing house relationships with auction firms with outstanding regional reputations or expertise in certain niche product areas. The auction market is highly fragmented, made up of thousands of small, often undercapitalized, local and regional firms. Many of these firms have the ability to source product, but lack purchasing and financial strength, as well as depth of management. The Company will selectively joint venture the most attractive of the auction galleries and then apply its management and financial skills to optimize operations. The consolidation of select auction galleries will enable the Company to expand its product offerings and, conversely, will benefit the auction galleries through the advertising and promotion carried in Millionaire magazine and over the Internet. Furthermore, the Company will be able to assure its sourcing of products.>>