HS_Dec12AuctionGuide.. - Huggins & Scott

prior to 10:00 pm (Extended Bidding Session). Based on
these rules, no lot with two or more bids prior to 10:00 pm
can close prior to 11:30 pm ET.
BIDDING INCREMENTS:
If the current bid is: The Bid increment is
$50 - $249 $10.00
$250 - $499 $25.00
$500 - $999 $50.00
$1,000 - $2,499 $100.00
$2,500 - $4,999 $250.00
$5,000 - $9,999 $500.00
$10,000 - $24,999 $1,000.00
$25,000 - $49,999 $2,500.00
$50,000 - $99,999 $5,000.00
$100,000 - $249,999 $10,000.00
$250,000 - $499,999 $25,000.00
Here are some examples:
a) Two bidders named A & B are the only two who have
bid on Lot 420 prior to 10:00 pm on the day that the lot
ends. Only Bidders A & B can bid on Lot 420 after 10:00
pm. At 11:00 pm, Bidder A was the high bidder on Lot
420. If no one else bids before 11:30 pm, Bidder A will
win the auction. If, however, Bidder B bids again at
11:27pm, the new end time for Lot 420 is 11:57 pm, giving
Bidder A another 30 minutes to raise his bid. No other
auction lots are affected by A & B's bidding on Lot 420.
b) If Bidder A was the only bidder on Lot 420 at 10:00 pm,
he automatically wins the lot at 11:00pm.
This format accomplishes two very bidder-friendly things: it
prevents snipers, as once you bid the clock resets for 30
minutes even if you bid with 1 second left. Also, it allows
people to know they have won an item without having to
wait for every item in the auction to close.
We are sure that once you read and use this bidder-friendly
Auction Ending style, you'll appreciate, as we do, that it is
just “a better mousetrap.” However should you have any
questions about this procedure, PLEASE call us on our
local or toll free number.
A few examples for those of you that may not understand:
a) If an item has an opening bid of $200 and does not have
a bid, you can click on the drop box and you have the
option at bidding $200, $210, $220, $230, $240, $250,
$275, $300, $325, $350, $375, $400, $425, $450, $475,
$500, $550, $600 and so on.
b) If an item's bid currently stands at $1800, your options
for bidding are $1900, $2000, $2100, $2200, $2300,
$2400, $2500, $2750, $3000 and so on.
Let's say an item currently stands at $750. You enter a max
bid of $850 and the system comes back and says that you've
been outbid and the current bid is now $850. Simply, this
means that the other bidder's max was also $850, that they
placed BEFORE YOU PLACED YOUR BID, and one
more bid will make you the current high bidder. You can
enter the next acceptable bid of $900 and you will be the
current high bid.
PAYMENT OPTIONS
We accept personal checks, business checks, money orders,
bank checks, and cash. We WILL NOT accept credit cards
or Paypal for auction items (unless pre-authorized before
the auction ends. Call for details).
FOLLOWING THE AUCTION
We will send winning bidders an email as well as written
invoices the week following the auction. Payment is requested
within 15 days from the end of the auction. Extremely
late or non-payments may result in the revocation of bidding
privileges for future auctions. Please note: when you
bid on an item, you are entering a legally binding contract,
indicating that you will pay for your items, plus the buyers'
premium and any additional associated fees (sales tax, shipping,
insurance, collection agency fees, etc...). You are
responsible for any and all bids placed with your User ID
and password. We WILL sell your debt to a collection
agency if you fail to make payment.
MORE ABOUT OUR AUCTION
1) All items are sold AS IS to the highest bidder
2) Buyer's Premium and Sales Tax - Please note our
BUYERS PREMIUM is 17-1/2% of the hammer price.
This means if an item sells for $1000, the winning bidder
will pay ($1175.00 plus shipping, handling and insurance).
This is added to the item before any sales tax (6%),
which is applicable to all Maryland residents ONLY!
3) No one who is currently employed with Huggins and
Scott or House of Cards may bid on any items in any
Huggins and Scott Auctions. However, the auction house
and its employees may consign items to the auction.
4) “Items With Reserves” feature slightly modified!
We have expanded and modified the “items with reserves”
feature for this December 2012 auction. Now, the items
with reserves are noted with a red outline around the lot
and the words “ITEM WITH RESERVE” heading above
the lot. They will also appear in the appropriate category
section based on the item. The reason we have started this is
to allow us to offer more unique and special items, while
also giving our consignors the assurance that the items will
at least reach a certain minimum. All items with reserves
will have an opening bid and an estimated value range. The
reserve bid on any item will never be greater than the low
value in the estimated range. By starting the bidding below
the reserve price it will allow our bidders to get their initial
bids in prior to the 10:00pm cutoff time for “initial bids”
on the final day of the auction and then all eligible bidders
can decide what they want their final bid to be on that day.
The items will have a statement in the bid box on our website
saying either “Reserve Not Met” or “Reserve Met”.
Those two phrases should be self-explanatory. If you are
entering a ceiling bid on one of these items and your ceiling
bid exceeds the reserve, the computer will only take you to
the value that equals the reserve. The remaining amount of
your ceiling bid will be kept hidden to everyone but you. If
the item ends with the “reserve not met” the item will be
deemed “passed” with a zero sale price. We are trying to
make this a simple and easy-to-understand feature in our
auction; should you have any questions, concerns or comments
on this new venture, we welcome your feedback.
5) Shipping - Is the buyer's responsibility. We will work
with you on larger lots to find the best way. All items must
be fully paid for, including shipping and insurance, before
they will be sent out. We strongly encourage any local bidders
to pick up their winnings at our Office or at the House
of Cards. International bidders should contact us prior to
4 HU G G I N S & SC OT T AU C T I O N: D E C E M B E R 13, 2012 W W W.H U G G I N S A N D S C OT T.C O M • 1.866.462.2273