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Nevada Stamp Study
Society Online Auction Rules
The Nevada Stamp Study Society has developed an
online Auction to facilitate member-to-member buying and selling. Rather
than being a live auction wherein buyers can see the latest
up-to-the-minute bids and outbid other buyers, this platform is more
like a silent auction where bids will be collected until the bidding
deadline with the highest bid winning the auction. The auction
website address is:
https://renostamp.org/auction.
Following are the rules for our auction.
Listing:
Auction lots may be
submitted only by NSSS members in good standing.
There is no guarantee of sale.
The seller will maintain all lots until sold. Each lot submission
must contain:
·
A clear scan or photo of the stamps or item
·
Country name
·
Brief Item description
·
Condition (used, MH, MNH and any comments on defects or special
notes)
·
Scott catalog number (or specify another catalog)
·
Catalog value
·
Minimum Bid
Lots will be submitted by email to
NSSSauctions@gmail.com
. Multiple lots may be included per each email as long as the
scan/photos are clearly identified for each lot. Club members will be
notified concerning the cut-off date for submission as well as the date
the auction will go live and the closing bid date. Sellers wishing to
remove or modify a listing may contact
NSSSauctions@gmail.com . Sellers may list up to 10 lots per auction. The minimum bid per
listing is $1.00. Lots will show seller’s initials.
A simple example of a lot listing might appear like:
U.S. #290 Trans Mississippi 10c Hardships of
Migration Used CV: $35 Min Bid: $7 Seller: HG
Bidding: Only NSSS members in good standing may
bid in the auction. Won lots will only be delivered to United States
locations. To submit a bid please send an email to
NSSSauctions@gmail.com
and include:
·
The auction lot number
·
Item description
·
Bid Amount
·
Your name
·
Your contact email
All bids must be received by the
bidding deadline. Current bids will be updated sporadically on the
auction site. You may update your bid before the deadline by contacting
NSSSauctions@gmail.com
The Process:
At
the auction bidding deadline the highest bid will win the lot. Should
the highest bid be substantially above the next highest bid, the highest
bid will be adjusted downward to an increment above the next highest bid
according to the following schedule:
For example, if the highest bid for a
lot is $40 and the second highest bid is $32.50, the high bid will be
adjusted to $32.50 + $2.50 or $35.00.
All bids that come in
before the initial current bid update will be recorded and the highest
accepted. (Ties settled in favor of first received). Once an active bid
is posted, that becomes the floor and all bids must be at least an
increment above the floor to be accepted. Any bid that comes in before
the next or subsequent update will be recorded and will be accepted as
long as it is above the bidding increment of the floor or the highest
received bid. If there are multiple bids that could be accepted, we will
disregard the required increment between these bidders since the bids
are blind. No bids will be accepted or recorded if less than the floor
or the active posted bid. The active posted bid should be the minimum
bid (if only one bidder) or the highest accepted bid if more than one
bidder.
Ten Percent (10%) of the
sale price will be deducted from the seller’s proceeds as a commission
and will go to support the NSSS. The 10% will not apply to shipping
charges.
Once the auction is
final, invoices will be sent to the winning bidders and seller. The
invoice will include shipping charges. The basic shipping charge is
$1.00 per lot, however, if the bidder wins more than one lot for a
seller, the shipping charge remains at $1.00. If the lot is more than
one stamp or a few stamps or is a larger item, the lot submission must
indicate what the extra shipping cost will be for that lot. This extra
cost will be added to the invoice.
The invoice amount will
be sent simultaneously to the buyer and seller. The seller will be
responsible for collecting the invoice amount from the buyer through
PayPal, check or other means. Upon receipt of payment (due within 10
days) the seller will send the won lots to the buyer within one week.
The seller will ascertain how the buyer would like to receive the won
lots -. i.e. mailed to an address, held at a Reno location, etc. The
Auction Master will maintain a record of commissions per seller and will
bill the seller the cumulative amount on a quarterly basis. Should a
bidder wish to return a lot for valid reasons, e.g. defect not noted or
wrong catalog number used, the bidder has 10 days after receipt to
return the lot to the seller.
Sellers whose lots are returned for valid reasons will have lots
returned to them and will be responsible to refund the buyer the entire
purchase price and shipping charge, if any. Commissions will be reversed
for returns if seller notifies the Auction Master.
The Fine
Print: The Auction Master will be the final arbiter
should any disputes arise in these transactions.
The Auction Master has the right to disallow any lot submission
or bids. Failure to adhere to the Auction rules may preclude offending
sellers or buyers from participating in future auctions.
Participation in our Auctions binds the seller to the acceptance
of these rules and regulations. Unsold lots may be re-submitted in a
later auction but will not automatically be re-listed.
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