This can be a full evening event for a meeting. It provides an opportunity for members to sell their duplicate stamps and other philatelic items; a source of stamps and other philatelic items for members; and, a small income (from commissions) for the club.
Preparation
- Ask members to supply lots for the sale. Each vendor should provide a numbered list of their lots and each lot bear the appropriate number. You may need to restrict the number of lots from each member.
- Plan to sell about 2 lots each minute. If you have 30 minutes then 50 – 60 lots would be more than sufficient.
- Appoint a Bid Sale Manager (and assistants). Their task is to ensure that all lots are described correctly and any reserve placed on the lot is reasonable.
- Appoint an auctioneer, someone to hold the lots up as they are auctioned and a scribe or scribes to record the bids.
Procedure
- Put all lots out on display so that members can inspect them before bidding commences.
- Give each member a “bidder number”. A scribe records the name of everyone against their number.
- While each lot is held up the auctioneer seeks bids. It is recommended bids be taken in approximately 5 – 10% steps (eg 10c steps up to $2.00, 25c steps up to $5.00, etc).
- The lot should be sold to the highest bidder provided the bidding has reached the reserve.
- When a lot is knocked down (sold), the successful bidder should call out their bidder number and the scribe will put the lot number and amount down on that bidder’s account.
- The lot should be put aside in a pile, with that bidder’s name on it, for collection when the lot is paid for.
- If a lot is unsold it should be put to one side and later returned to the vendor.
- At the end of the sale the scribe adds up what each bidder has to pay and all buyers should pay for their purchases and collect their lots.
- Each vendor should be paid for what was sold less a commission, say 10%, for the club. All unsold items are returned to the unsuccessful vendor.