Minimum bids will now be valid for CCA auctions

[Frank Cowherd]

CCA's board of directors has voted to allow the use of the minimum bid space on the MY GROUP AUCTIONS (MGA) website. Specifically the BOD approved the use of the minimum bid in the following manner: Bidding for any item with a minimum bid on its label will start at that amount and proceed as normal for any auction. If the minimum bid is not met, the owner of the item will take the item back into his possession. If the owner is not present to take back his item that did not sell, the minimum bid indicated on the label will not be in effect and so there will be minimum bid on the item. The starting value for the item will be at the discretion of the auctioneer.

Currently this use of the minimum bid is on a trial basis.

If you have any questions, please ask.

 

[Becca]

The California clubs where I spoke require a minimum bid of $5 per lot. Tables were full of good items and no one selling left empty handed. The club meetings were packed, too. Requiring a minimum bid meant that bidding always started at a number where the seller would get something for what they brought with them and erased the negative impact that minimum bids have when only a few lots have one.