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Rules of the EFOCC Auction

Rules for Bidders

How to Bid

Please bid on a consignment form from a recent copy of The EFO Collector. A photocopy is fine. Include your EFOCC membership number. For new bidders and non-EFOCC members, please include your APS membership number. Sign your bid sheet to acknowledge acceptance of the EFOCC auction rules; unsigned forms can not be accepted. Submit bids to the Auction Director at the postal or e-mail address indicated in the current issue of The EFO Collector.

Bidding Precautions

Minimum bids are not estimates, but are true reserves established by the consignors. Bids below the listed reserve will not be accepted. Bidders are responsible for inaccurate bids. Bids do not have to be typed, but, please, be sure numbers and amounts are clearly legible. Confirm phone and e-mail bids with a written bid sheet.

Auction Bid Increments
Bid LevelIncrement
$1 to $9.990.50
$10 to $49$1.00
$50 to $99$2.50
$100 to $499$5.00
$500 and up$10.00

Please use the following increments when bidding and/or assigning reserves to consignments. Lots are sold to the highest bidder at one advance over the second highest bid. EFOCC reduces non-conforming bids to the next lower increment. For example, a bid of $39.50 will be entered as $39.00.

Special Bidding Instructions

As the EFOCC auction is a small auction, special instructions can not be easily accommodated. EFOCC can not accept "BUY" bids, nor "INCREASE BY...%" bids. Please, make your final, best, and highest bid and you will get the lot at the lowest price available.

Bidders' Payments

A 10% buyer's premium is added to the hammer price of each lot. Buyers pay postage, plus insurance on lots valued at over $10.00. Payment is due upon receipt of invoice. If you will be out of town for a while just after an auction closes, or are moving to your summer home about that time, please let EFOCC know at the time you place your bids.

Returning Lots

Within five (5) days of receipt of awarded lots, you may return any lot which is not described correctly provided such lot is still in its original condition. If an expertising certificate is a condition of bidding, please inform EFOCC of this before auction closes.

One Final Request

Please bid generously on donation lots whose monies go entirely to the benefit of the EFOCC.

Rules for Consignors

Preparing Lots

Please use a blank form from a recent copy of the EFO Collector. Photocopies are fine. Please use a separate form for each lot. Secure each lot to the front of the form; attach large lots to the reverse side. Protect all items with mounts, glassine, etc., and stiffeners, if necessary, but be sure item/items can be easily removed by Auction Director for examination and/or photographing. Do not use staples. Attach each item so that the description can be easily read. A simple and easy way to mount lots is to do so on dealer sales cards, or in glassines mounted face down for easy removal. Include a reserve (minimum bid) or write "none". Lots may be revised to accurately describe items; or returned if necessary. Your name and EFOCC number must be on the consignment form, however, to preserve anonymity, these are removed from the consignment sheet before sending item to successful bidders. Send consignments to the Auction Director at the postal address indicated in the current issue of The EFO Collector, using the form printed therein. Use insured or registered U. S. Mail.

Consignor Fees

Consignor commission is 10% of the hammer price, with a minimum bid of 50 cents per lot. Unsold lots incur a 50 cent fee per lot, and the consignor pays return postage and insurance. Expenses and printing constraints make it impractical to picture every lot, especially those which are large in size. The EFOCC will exercise discretion in picturing lots.

Consignor Special Instructions

To save postage and labor, EFOCC can automatically re-submit unsold lots with lower minimums in a future auction, if you instruct EFOCC clearly what to do. If you send duplicate or very similar lots, it is consignor's responsibility to state clearly if you would like to have these placed in different sales. Generally, EFOCC places all items received in the same sale to minimize paperwork.

Consignment/Payment Timing

EFOCC receives consignments continually and prepares them for subsequent sales, roughly on a first-in/first-out basis. However, large lots may be spread over several auctions. After the close of each sale, unsold lots are offered to bidders on a first come-first served basis for $1 over the reserve with no buyer's commission or postage. This increases total sales, makes more bidders happy, and sells more lots for consignors, all for very little additional effort. EFOCC needs approximately one month after auction's closing date to determine successful bidders, prepare and mail invoices, mail lots, receive payment from winners, list after sale lots and accept their offers, etc., etc. Thus, consignors can expect to receive payment about four to six weeks after an auction closes.




 

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