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Auction Rules

  1. All business meetings on an Auction Night will be called to order at 8:00 p.m. sharp, and at the discretion of the presiding officer may be brief. Immediately after the meeting all attendees will have five (5) minutes to view the lots.

  2. Only philatelic material will be accepted for auction.

  3. Each member may submit only five (5) lots for auction, however, additional lots may be submitted, space permitting. A maximum of 80 lots will be accepted. All lots, except bulky items, must be accompanied by an official Syracuse Stamp Club Auction Lot Sheet, available at all club meetings.

  4. All lots (including donation lots) must be properly described as follows: M-Mint, U-Used, NH-Never Hinged, LH-Lightly Hinged, HH-Heavy Hinged, OG-Original Gum, Thins, Tears, Creases, Perf Faults, etc. Scott or Minkus numbers, approximate value, and country must appear on the auction sheet.

  5. All lots must have a minimum bid of $1.00. If no minimum bid appears on the auction sheet, the auctioneer may submit the lot to the floor for a bid.

  6. Only members in good standing are entitled to submit lots for auction. Both members and non-members may bid on lots.

  7. All bidders will be seated in front of the auctioneer on the opposite side of the room from the auction lots.

  8. No bidder will have the right to view any auction lot(s) during the auction unless the auctioneer holds them up for display to bring out special details.

  9. Owners of the lots being submitted for auction have no right to bid on his or her lots from the floor. The owner is protected by submitting a minimum bid (what the owner deems a fair selling price) on the auction sheet.

  10. Bidding Increments:

$1.00 - $5.00 will be increased by 25¢

$5.00 - $10.00 will be increased by 50¢

$10.00 - $20.00 will be increased by $1.00

$20.00 - $30.00 will be increased by $2.00

$30.00 - $50.00 will be increased by $2.50

$50.00 - over will be increased by $5.00

  1.  Lots must be paid for immediately by cash or check. Any successful bidder who buys a lot that is improperly described has the right to return said lot immediately following the auction for a full and complete refund, and said lot will be considered not sold.

  2. After the auction has ended, sellers will be called to approach the Auction Treasurer for payment according to the auction lot.

 

  

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