Friday, 07 September 2018 23:34

8th Annual Meeting: Auction Rules

Written by CECBL
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The present rules will govern the auction of special miniatures to be held during the CECBL Show that takes place the date indicated in the program, as described here below.

These rules specify the maximum number of lots that each participant can bring to the auction, the time and place of delivery of the lots and the procedure to be followed for the bids during the auction.

Also the fees that the Club will perceive by each seller.

AUCTION RULES

1. Each member may bring to auction up to 4 lots that must be considered by each participant as "special". Each set may consist of a miniature bottle (not larger than 10cl), a ceramic miniature, a set of miniatures, or a small number of minis in a lot, irrespective of its nature, type and size.

2. The 28th, Friday, those members who wish to put up a lot to the auction, should present the lot or lots in the place of the auction, that will take place in the restaurant “ Pazo de Lestrove” at the end of dinner. Then, the lots will be delivered hto the Club’s representative before the auction, and will be presented in the table in such a way that all lots are pre-viewed by all participants before the auction takes place.

3. Once the lots are deposited, a member of the Board of the Club, will prepare a paper with the data of the lot or lots presented for the Auction as well as the amount to be asked for the first bid. The Club’s member will bring to the participant a copy with this data as well as the assigned number. A model to be populated with the data of the lot, is attached at the end of these rules, ready for unload.

4. The Auction Master, will start the auction with the Lot Nº1, which will be awarded, after accounting up to three, the Auction Master will maintain a pause between bids, in order to give an opportunity to those undecided. In case that the Auction Master be interested in bidding for a lot, will previously give notice of its intention, before the bid starts.

5. As soon as each auction is awarded, the Auction Master assistant, will bring the lot to its winner.

6. During the auction, the Treasurer will monitor the lots auctioned, scoring the winning amount and the name of the bidder, and once the auction is complete, he will proceed to collect the price of each winning bid. To this end, winning bidders will go to the club treasurer to pay the amount of the lots won.

7. On Saturday, after collecting the money from the auction winners, the club’s Treasurer, will settle to the lot’s owners the amount of the winning bids less the commission due to the Club, which will be calculated as follows:

A fix amount of 1 € for each lot delivered for auction, whether or not it is sold. If the lot is sold, a 10% calculated on the winning bid, will be added to the fix commission of 1€. 

8. During each bidding process, and before the Auction Master award a lot, the owner thereof, will have the opportunity to prevent the item or lot on bid to be awarded for a lower price that the one the owner expects to be earned as a minimum, by bidding himself for a price he consider appropriate. From that moment, if doest not appear another bidder with a higher amount, the lot will be awarded to its owner, that as a seller, will pay a minimum of a flat fee of € 2 per lot, but in this case the percentage of the winning price, will not be applicable.

If another bidder puts a higher bid on the lot that exceeds the one made by the owner, the bidding process will continue as per the above, and the rest of the rules will apply accordingly.

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