[meteorite-list] Bidding, etc in Tucson 2006

From: Michael L Blood <mlblood_at_meteoritecentral.com>
Date: Sun Jan 22 17:15:13 2006
Message-ID: <BFF943E1.27A3C%mlblood_at_cox.net>

Hi All,
        I received the following question in one form or another several
times, so, here they are, I have sometimes been asked:

--
Q:  "For those of us who do go to the auction but for whatever reason
can't make it to the end.  Can we/they win an auction and pay for it
at the time and walk away with the item prior to the end of the entire
auction?"
A: The short answer is no. The reason is that I would have to hire an
additional staff person for the evening at relatively exorbitant rates.
I would then have to raise the buyer's premium to cover the
additional expense, something I don't think anyone wants.
        NOTE: the earlier you arrive, the lower your bid number. People
are checked out in the order in which they arrive. Check out is reasonably
fast and the auctions have been streamlined and end much earlier than
the first few did.
        NOTE # 2 - the person who bought my bid card last year gets the
first buy out position this year, regardless of when he arrives. Same will
be true next year.
Q: "Can anyone at the auction make a silent or absentee bid for an item that
come up after they have to leave?"
A: No. However, they can have a friend bid and purchase for them or they
can arrange an absentee bid prior to the auction - just not once the auction
has begun.
Q: "When do sellers get paid?"
A: Buyers check out first, then, sellers can have either payment taken to
their room the next day or mailed to them within  the week. If they want
to get paid on the spot, they will be paid after the buyers check out.
    NOTE: payment is only guaranteed to be mailed to sellers within a week,
because I would not have the money if a lot of people use credit cards and
many absentee bidders win. However, I have never been "short" in the past
for those that wanted to wait and get their money that night, as there are
always several that prefer to be mailed a check later. Payment has always
been sent within a week from the auction. (Credit cards take time to clear).
        Any other questions can be sent to me off list.
        Thanks, Michael
 
--
Michael Blood <mlblood_at_cox.net>
on 1/22/06 11:22 AM, Michael L Blood at mlblood_at_cox.net wrote:
> Hi all,
>       Several list people have emailed me off list as to how absentee
> bidders can see the meteorites for sale in the auction, so, here it is
> again:
> --
> 
> http://www.michaelbloodmeteorites.com/AuctionTucson06.html
> 
>       You can always get to it from my main page,
> www.michaelbloodmeteortites.com (or google: michael blood meteorites)
> etc. 
>       Check them out! 106 items and only a few with minimum bids.
> Very few people have placed minimum bids to my astonishment.
> If you bid your max, you often get it lower (sometimes MUCH lower)
> and if you place even modest bids, some of those are  likely to pay off.
> These auctions are "wide open" and you never can predict how high
> or low an item will sell for.
>       NOTE: When placing bids, odd increments are rounded down to
> the nearest figure. Typically, bids go something like:
> $5 to $50 = $5 increments
> $50 to _at_ $200 = $10 increments
> _at_200 to $1,000 = $25 "
> _at_ $1,000 to 2 or $3K = $50 "
> _at_ $3K and over = $100 " (not many of these)
>       So, if you send in a bid of $172 on lot XXX it will be changed to
> $170 or a $410 bid will be changed to $400.
>       Absentee bids are treated similar to an eBay bid, it only goes up
> by the bidding increments in the live auction. If two or more people
> have absentee bids on the same lot, bidding begins one increment higher
> than the lowest absentee bid. If only one absentee bid is in, I generally
> start the bidding between 1/3 and 1/2 of what I think it will sell
> for. As long as live bidders are bidding, the absentee bid generally is
> not "kicked in" - it is when action in the room pauses, if there is an
> absentee bid with a higher maximum, his/her bid is paced at the next
> increment and those in the room have an option to top it. If, due to the
> starting bid a  bid is placed by a live bidder which is tied with the
> maximum of bid of an absentee bidder, the live bidder will get the item.
> (the absentee bidder has no margin to place a higher bid in such a case).
>       Any questions, please email or phone me at home in the next several
> days. After that, I can only be reached on my cell phone. Please do not
> call my cell phone before I leave for Tucson on the 28th - I get messages
> on my home phone and will call you back.
>       Best wishes, Michael
> 
> 
-- 
"He is not a lover who does not love forever." - Euripides (485-406BC)

Received on Sun 22 Jan 2006 05:14:57 PM PST