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REGULAR AUCTION RULES
1) Each member who wants to participate in the auction as a Buyer or Seller
shall pay a $1.00 fee to the WPS which will be collected by the Treasurer.
2) Each Seller shall limit the number of items to be auctioned to 10 lots.
3) The first Seller to sign the Attendence Sheet and pay the $1.00 fee will
be the first to sell his lots. The next Seller signing/paying will follow next,
and on and on until all Sellers have auctioned their lots.
4) A fee of 10% of the hammer price for each lot will be retained by the WPS.
Seller's who set a minimum bid on any lot should take into account that they will
receive only 90% of the hammer price.
5) Each Seller shall fill out one copy of an Item Control Sheet.
Print your Item Control Sheet. Be sure to designate your minimum opening bid and
state whether or not such minimum is firm.
6) Each Seller shall display his/her lots on a front table/counter for review by
other members.
7) The WPS bidding increments shall be as below:
Bidding Range Increase
Less than $ 1.00 10 cents
$ 1.00 to $ 5.00 25 cents
$ 5.00 to $10.00 50 cents
$10.00 to $20.00 $1.00
$20.00 to $50.00 $2.00
$50.00 & above $5.00
8) The Treasurer shall complete a Bid/Sales Sheet. Print a Bid/Sales Sheet.
9) All Buyers/Sellers shall settle with the Treasurer before leaving.
Less than $ 1.00 10 cents $ 1.00 to $ 5.00 25 cents $ 5.00 to $10.00 50 cents $10.00 to $20.00 $1.00 $20.00 to $50.00 $2.00 $50.00 & above $5.00 8) The Treasurer shall complete a Bid/Sales Sheet. Print a Bid/Sales Sheet. 9) All Buyers/Sellers shall settle with the Treasurer before leaving.
PROGRESSIVE AUCTION RULES
1) All items submitted will be sold. Print your Item Control Sheet
None of the lots you submit will be returned unless you are the successful bidder
and there is no guarantee you will receive any payment for your lots.
Consequently, you should not submit expensive items unless you are willing to
bid on them.
However, you do want to submit items which will generate a bid.
2) You should suggest an opening bid.
However, this is NOT a reserve, only a suggestion.
The item could open at a higher or a lower bid.
The minimum bid is 50 cents. Bidding units will be
10 cents up to $1
25 cents up to $5
50 cents up to $10
1 dollar above $10
3) You should submit a large number of lots (up to 10).
The lots should be numbered in the order you want them presented.
All lots should be identified in the normal manner.
4) Lot #1 will be placed for bid with the suggested opening bid.
If there is a bidder, the game is played as in a regular auction.
The highest bidder wins.
If there is no bidder, the suggested opening bid is reduced by the appropriate unit.
If there is no bidder, the opening bid is again reduced.
After two reductions if there is still no opening bid, lot #2 is added to lot #1
and the suggested opening bid for both lots is solicited.
The opening bid is the larger of either lot #1 or lot #2.
The successful bidder receives both lots #1 and #2.
If there is no opening bid for lot #2 after two reductions, lot #3 is added to
lots #1 and #2.
The addition of lots continues until there is a successful bidder.
5) Should a particular seller's lots be used up and there is no buyer,
those lots are added to the first lot of the next seller.
Proceeds from the sale will go to the owner of the last lot in that group of lots
which received a bid.
6) You may bid on your own lots.
If your lots are not selling you may want to get them back, since the next seller
will get the proceeds.
Since you will receive the proceeds of your bid, your cost is the 10% commission
due the Club.
The Club thanks you for your contribution.
7) Should there be no bidder for the last lot of the auction, the auctioneer
will submit a bid for $1.
Thus, if there are no bidders at all during the entire auction, the auctioneer would
receive all the lots for the sum of $l.
This is not likely to happen.
Since the pot becomes more valuable as each new lot is added, someone is bound to bid.
8) In theory, the seller who goes last has an advantage.
Therefore, a drawing will be held among the sellers to determine the last bidder.
9) The above sounds complicated.
However, it really is a lot of fun and gives each of us an opportunity to dispose
of items we no longer want.
Each lot you submit is guaranteed to go home with someone else unless you buy your
own lot back.
SPEAK-UP AUCTION RULES
1) Member is called to the front of the room.
2) Member describes the item to be auctioned and explains why someone else would
want it.
3) Member then states, "My Speak-UP price is ________!"
4) The first person who "Speaks-UP" wins the item.
5) Each member may present up to three items.
Considerations) If you don't describe the item well, or if you overprice
the item, no one will "Speak-UP." If you under price the item, you will
not get the full value since you name the price and thats the price. As a
Buyer, you have to make a quick decision because the first person who
"Speaks-UP" gets the item. No bidding is allowed.
6) A "bid spotter" will be appointed to help identify the first person
who "Speaks-UP."
Print your Item Control Sheet
Print a Bid/Sales Sheet
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SPEAK-UP AUCTION RULES
1) Member is called to the front of the room. 2) Member describes the item to be auctioned and explains why someone else would want it. 3) Member then states, "My Speak-UP price is ________!" 4) The first person who "Speaks-UP" wins the item. 5) Each member may present up to three items. Considerations) If you don't describe the item well, or if you overprice the item, no one will "Speak-UP." If you under price the item, you will not get the full value since you name the price and thats the price. As a Buyer, you have to make a quick decision because the first person who "Speaks-UP" gets the item. No bidding is allowed. 6) A "bid spotter" will be appointed to help identify the first person who "Speaks-UP."
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Visit the American Philatelic Society