GENERAL INFORMATION

  1. ALL BUYERS, SELLERS, MEMBERS, AND NON-MEMBERS ARE ASKED TO READ AND UNDERSTAND THESE RULES.
  2. A CLUB MEMBER IS AN INDIVIDUAL WHO IS IN GOOD STANDING WHOSE DUES ARE PAID FOR THE CURRENT YEAR.
  3. THE AUCTION COMMITTEE SHALL CONSIST OF THE SECRETARY AND THE TREASURER OF THE MUNCIE COIN & STAMP CLUB.
  4. NON-MEMBERS MAY BUY ITEMS IN THE AUCTION, BUT MAY NOT PLACE ITEMS FOR SALE AT AUCTION.
  5. BIDDERS ARE TO INSPECT LOTS BEFORE THE MEETING BEGINS OR DURING THE BREAK. THE MUNCIE COIN & STAMP CLUB AND ITS AUCTIONEER DO NOT WARRANT THE TYPE OR CONDITION OF THE ITEMS SUBMITTED.

 

LOTS

  1. ITEMS PLACED I N THE AUCTION MUST BE THE PROPERTY OF THE PERSON SUBMITTING THEM.
  2. THERE IS NO LIMIT TO THE NUMBER OF LOTS THAT MAY BE SUBMITTED IN AN AUCTION.

 

AUCTION CARDS

  1. AN AUCTION CARD (PDFs available here) IS TO BE FILLED OUT FOR EACH LOT SUBMITTED IN THE AUCTION. EACH CARD SHALL CONTAIN AN ACCURATE DESCRIPTION OF THE LOT FOR WHICH IT PERTAINS TO, INCLUDING THE QUANTITY, YEAR, MINT, DENOMINATION, GRADE, RED BOOK LIST AND NAME OF SELLER. SHOULD THE SELLER SO DESIRE, ANY RESERVE BID AMOUNT SHOULD BE INDICATED. THESE CARDS MUST BE PLACED UNDER THEIR RESPECTIVE LOT ON THE AUCTION TABLE.
  2. DURING THE AUCTION, THE TREASURER SHALL COMPLETE A SUMMARY FORM (PDFs available here) FOR EACH SELLER IN THE AUCTION. EACH FORM MUST BE SIGNED BEFORE ANY MONEY CAN BE RETURNED TO THE SELLER.

 

BIDDING

  1. THE BIDDING INCREMENTS SHALL BE ESTABLISHED AT THE AUCTIONEER'S DISCRETION.
  2. RESERVE BIDS ARE TO BE PLACED ON THE AUCTION CARD OR MAY BE PLACED FROM THE FLOOR WITH THE SELLER PLACING ONE BID PER LOT AT THE TIME OF THE SALE.

 

RETURNS

  1. AFTER THE AUCTION HAS CONCLUDED, THE SELLER WILL RECEIVE HIS OR HER SUMMARY CARD AND ANY PASSED LOTS SUBMITTED FOR AUCTION.
  2. ONLY MEMBERS OF THE AUCTION COMMITTEE SHALL RETURN LOTS TO THE SELLER. No ONE IS PERMITTED TO HANDLE UNSOLD LOTS AFTER THE AUCTION.
  3. THE AUCTION SUMMARY CARD MUST BE SIGNED BY THE SELLER, INDICATING THE ACCEPTANCE OF THE AMOUNT OF MONEY SHOWN IN THE PRICE SOLD FOR COLUMN.
  4. THE SELLER SHALL THEN RECEIVE HIS OR HER MONEY AND ANY PASSED LOTS WHICH BELONG TO HIM OR HER.