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http://indianaquariumhobbyist.com/community/ :: View topic - ASK - Silent Auction 5th Sept 2005
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ASK - Silent Auction 5th Sept 2005

 
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Madan
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PostPosted: Sat Sep 04, 2004 8:34 am Post subject: ASK - Silent Auction 5th Sept 2005 Reply with quote

 What  is  a  silent  Auction?
 
 In  a  silent  auction,  the  seller  bags  his  goods  for  sale  in  a  polythene  cover  or  some  such  transparent  material,  places  a  tag  with  his  name,  the  reserve  price,  a  brief  description  of  the  item  on  sale,  the  â€œlot  number”  as  allotted  by  the  auctioneer,  and  below  which  will  be  2  columns  for  the  buyer  to  enter  his  name  and  bid  amount.
   
 Each  bag  with  a  single  or  multiple  items  in  them  will  be  considered  as  one  lot.
 
 All  bagged  lots  for  sale  are  displayed  on  a  counter.
 
 The  Buyer  or  bidder  now  walks  around  the  display  and  enters  his  name  and  a  bid  for  any  item  on  display  that  he  wants  to  purchase  on  the  Tag  attached  to  that  particular  lot.  The  next  bidder  who  wants  to  pay  a  higher  price  will  note  down  his  name  and  bid  (subject  to  minimum  increment  allowed)  below  that  of  the  first  bidder  on  the  same  tag  attached  to  the  bagged  lot.  And  so  on.
 
 A  fixed  time  limit  is  provided  for  the  auction  say  1  hour,  during  which  time  a  bidder  may  bid  as  many  times  for  a  particular  lot  according  to  the  minimum  increment  allowed.  The  minimum  increment  shall  be  above  the  last  bid  noted  down  on  the  tag.  A  bidder  may  also  bid  for  additional  lots  displayed  in  the  auction.
 
 At  the  end  of  the  allotted  time  of  1  hr,  the  auctioneer  clears  the  area  of  bidders  and  sellers  and  takes  possession  of  all  the  bagged  lots,  calls  out  the  highest  bidder  who  then  checks  that  the  goods  put  up  for  sale  by  the  seller  match  the  description  on  the  tag  (in  case  the  seller  indicates  that  the  goods  are  in  working  condition,  then  the  seller  must  demonstrate  the  same)  pays  his  bid  amount  to  the  auctioneer  and  takes  possession  of  the  goods.  The  auctioneer  now  pays  the  seller  his  dues  after  deducting  his  commission  from  the  final  bid  amount  for  that  particular  item.
 
 The  above  is  simply  general  information  and  should  not  be  read  in  conjunction  with  the  Rules  of  the  Silent  Auction  which  are  noted  below.
 
 
 
 
 Rules  for  the  Silent  Auction
 
 Date:  5th  Sept  2004.
 
 Venue:  Aquarists  Society  of  Karnataka,  Govt  Aquarium  Premises,  Cubbon  Park,  Bangalore.
 Time:    Registration  of  items  entered  for  the  auction  â€“  10:00  to  11:00  AM
 Silent  Auction:  11:00AM    to  12:00  Noon
 Payment  settlement  and  delivery  of  lots:   12:00  Noon  to  12:30  PM.

 
 
 1.Sellers  wishing  to  participate  in  the  silent  auction  must  register  their  lots  with  the  Society  and  avail  of  a  lot  number,  the  same  must  be  displayed  on  the  tag  attached  to  the  item.
 
 2.Registration  of  items  for  sale  will  be  from  10:00  Am  to  11:00  Am.
 
 3.All  lots  for  the  auction  should  be  attached  with  a  Tag  bearing  the  sellers  name,  a  brief  description  of  the  item,  Reserve  Price  and  the  Lot  No.  allotted  by  the  Society.
 It  should  have  2  columns  below  the  above  information  for  the  buyers  to  enter  their  name  and  bid  amount.
 
 4.The  seller  must  deliver  the  goods  on  payment  when  the  reserve  price  of  the  item  is  reached  in  the  auction.  He  may  however  sell  the  item  at  a  bid  below  the  reserve  price  entirely  at  his  discretion.  Failure  to  deliver  the  goods  once  the  reserve  price  is  met  will  disqualify  the  seller  from  participating  in  future  auctions  in  any  capacity.
 
 5.Each  bagged  lot  with  a  single  tag  will  be  considered  as  one  item  on  sale  even  though  the  bag  contains  multiple  items.
 
 6.The  buyer  must  pay  his  winning  bid  amount  to  the  society  immediately  on  completion  of  the  auction.  Failure  to  do  so  will  disqualify  him  from  future  auctions.
 
 7.The  Society  will  deduct  30%  of  the  final  sale  amount  as  commission  and  pay  the  balance  to  the  seller.
 
 8.The  Silent  Auction  will  commence  at  11:00  hrs  sharp  and  will  end  at  12:00  Noon  sharp.
 
 9.The  auction  is  open  to  Members  of  the  Aquarists  Society  of  Karnataka  only,  who  have  their  membership  currently  valid.
 
 10.All  payments  should  be  completed  and  items  taken  possession  of  by  12:30  PM  without  fail.
 
 11.The  Society  will  not  be  responsible  for  any  theft,  damage  etc.,  to  the  items  entered  for  the  Silent  Auction.
 
 12.In  case  of  any  dispute  the  decision  of  the  Auctioneer  nominated  by  the  Society  will  be  final  and  binding  on  all  participants.
 
 13.The  seller  must  physically  bring  the  items  entered  in  the  auction  to  the  Society  at  his  own  cost  and  the  buyer  must  remove  the  items  from  the  Societies  premises  at  his  own  cost  the  same  day  without  fail.
 
 14.Items  like  Electrical  Aquarium  accessories  etc.,  must  be  in  working  order  and  shall  be  proved  to  be  so  to  the  satisfaction  of  the  buyer.
 
 15.Items  like  Fish,  Aquatic  plants  etc.,  should  be  in  â€œalive”  condition  at  the  time  of  payment.
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scsriram
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PostPosted: Sat Sep 04, 2004 8:56 am Post subject: Auction Sale Reply with quote

 Madan,
 
 Are  the  LFS  Owners  who  are  also  members  of  the  Society  allowed  to  be  part  of  the  auction.  This  way  more  items  and  varieties  at  a  competitive  cost  will  be  part  of  the  auction.
 
 Sriram
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nag
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PostPosted: Sat Sep 04, 2004 9:59 am Post subject:  Reply with quote

 Hi  Madan:
 
 1.  Is  the  seller  supposed  to  get  the  Tag(Label)s  prepared?
 2.  Should  the  min.  incremental  amount  to  be  mentioned?
 
 A  format  of  the  Tag(Label)  will  be  helpful.
 
 Thanks  and  Regards,
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nag
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PostPosted: Sat Sep 04, 2004 11:08 am Post subject:  Reply with quote

 Hi  Madan:
 
 Should  this  be  OK?
 
 Regards,
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Madan
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PostPosted: Sat Sep 04, 2004 3:41 pm Post subject:  Reply with quote

 Nag  the  format  for  the  Tag  is  fine.
 
 The  minimum  bid  increment  is  specified  by  the  Society  to  be  Rs.5/-  so  no  need  to  mention  that.
 
 The  Lot  No.  allotted  by  the  Society  has  to  be  specified  in  the  Tag.
 
 Yes  teh  seller  tags  the  individual  bags.  The  society  does  not  do  that.
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nag
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PostPosted: Sun Sep 05, 2004 5:55 pm Post subject:  Reply with quote

 Hi  All:
 
 Oh!  What  an  action  filled  auction!!
 There  was  never  a  Silent  moment  throughout.
 All  my  items  were  sold!
 We  even  had  "over-the-phone"  bidding  for  "undisclosed  buyer"    :wink:  
 Thanks  to  the  Organizers.  They  helped  clear  my  'junk'  and  fill  my  pocket!    :wink:  
 
 Regards,
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Madan
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PostPosted: Sun Sep 05, 2004 8:40 pm Post subject:  Reply with quote

 Thanks  a  lot  to  all  the  guys  who  participated  in  the  auction.  It  would  not  have  been  a  resounding  success  without  all  of  you.
 
 Hell,  I  should  have  dug  deeper  and  brought  more  stuff  to  the  auction.
 Almost  everything  I  brought  except  one  item  was  sold.
 
 Here  is  what  I  feel    was  the  general  trend  -
 
 -  Seller's  quote  a  high  reserve  price.
 -  Buyers  start  their  bid  at  around  half  the  reserve  price  or  lower  if  they  don't  fancy  the  item.
 -  Good  quality  items  have  the  bidding  hotting  up  in  the  last  15  minutes.
 -  Buyers  are  all  cagey  and  talk  less  about  the  items  they  have  their  eyes  on    :lol:    :lol:.  It's  like  Spy  vs  Spy  in  Mad  comics.  They  wait  until  a  rival  isn't  looking  and  quietly  enter  their  bids.
 -  Good  useful  stuff  has  the  maximum  no.  of  bids.
 -  Buyers  ignore  overpriced  items  that  are  not  essential.
 -  Buyers  bid  less  on  large  items  like  massive  pieces  of  driftwood.
 -  Aquatic  plants  fare  the  same  as  any  other  items.
 -  Fish  too  fare  the  same.
 
 Most  of  the  items  went  much  below  the  reserve  price!  The  seller's  were  too  happy  to  be  rid  of  the  items.
 
 But  beware  many  sellers  did  not  want  to  sell  below  their  reserve  price  and  took  some  items  back.
 
 What  do  you  make  of  all  the  above?  :twisted:  
 
 Nothing  much  right?  :twisted:    :twisted:  
 
 Well,  be  there  for  the  next  auction  and  enjoy  the  atmosphere,  get  a  bargain  and  have  fun!
 
 I  was  surprised  to  see  about  25  guys  there  actively  participating  in  the  auction.  I  had  not  expected  such  a  large  gathering  at  the  first  event  itself.
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trevor
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PostPosted: Mon Sep 06, 2004 9:33 pm Post subject: Silent Auction Reply with quote

 Hi  All,
         Nice  to  have  had  such  a  fun  filled  time  time  at  the  silent  Auction  and  see  so  many  guys  participate.  There  was  everything  one  would  need  to  start  an  aquarium  out  for  grabs  at  dirt  cheap  prices.  Live  fishes,Aquarium  plants,Plastic/silk  plants,drift  wood,powerheads,air  pumps,cork,drift  wood,power  filters,aquarium  toys,lights  and  gauges  etc  were  all  there.  Everyone  went  home  satisfied  and  happy  for  getting  such  a  good  deal.  The  silent  auction  will  be  held  on  the  first  sunday  of  every  month.This  is  a  good  time  to  clear  out  any  stuff  you  don't  need.  I  request  all  the  participants  to  bag  all  the  items  they  bring  and  tag  it  in  the  prescribed  format.  Late  comers  create  confusion  so  try  to  be  on  time  especially  when  you  have  items  to  auction.  Special  thanks  to  Madan  for  his  fast  calculations  and  for  helping  out  in  so  many  ways.
                                                                                                             Regards
                                                                                                             Trevor
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nag
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PostPosted: Mon Sep 06, 2004 9:44 pm Post subject:  Reply with quote

 Hi  All:
 
 Trevor  is  definitely  happy  as  he  took  most  of  the  things  auctioned.
 And  at  the  end  I  asked  him  why  he  bought  it  all?  Simple  was  his  reply  "I'll  do  a  Yard  Sale"    :lol:    :lol:  
 While  he  took  the  most;  on  the  other  end,  Madan  collected  all  the  money  :wink:  (Nevertheless,  only  to  distribute  it  back).
 As  they  say,  all  that  starts  well,  ends  well
 
 Thanks,
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praani
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PostPosted: Mon Sep 06, 2004 10:58 pm Post subject:  Reply with quote

 On  a  lighter  note,  the  silent  auction  wasnt  all  that  silent  was  it;  with  all  the  blabbering  going  on!    :lol:  Had  a  great  time  and  managed  to  get  a  couple  of  things...
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Deepak_Brid
Regular Poster on IAH
Regular Poster on IAH



Joined: Jul 09, 2003
Posts: 782
Location: Bangalore

Status: Offline
PostPosted: Thu Sep 23, 2004 3:08 pm Post subject:  Reply with quote

 ASK  -  Auction
 Pictures  uploaded
 
 Regards
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trevor
Committed Member of IAH
Committed Member of IAH



Joined: Jul 27, 2003
Posts: 4290
Location: Bangalore

Status: Offline
PostPosted: Sat Dec 04, 2004 10:29 am Post subject: Commission Reduction Reply with quote

 Madan  wrote
 
                                                 
Quote:                
7.The  Society  will  deduct  30%  of  the  final  sale  amount  as  commission  and  pay  the  balance  to  the  seller.  
                 

 The  society  has  reduced  the  commission  to  fifteen  percent  as  per  the  decision  of  the  board  of  Directors.  This  will  encourage  more  participation  by  our  hobbyists.
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nag
Committed Member of IAH
Committed Member of IAH



Joined: Oct 19, 2003
Posts: 1853
Location: Bangalore

Status: Offline
PostPosted: Sat Dec 04, 2004 5:18 pm Post subject:  Reply with quote

 Much  blessed,  Trevor;  Thanks...  Very Happy
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