Melbourne Monthly Meetup - Sun 19th June 2011 - 2.00pm

adrenalin said:
New Auction Feature: Bring along any items to be auctioned off to the highest bidder on the day!
Click to expand...

The first one we ran of these was pretty successful with only one real hiccup that was compensated. We kind of made it up as we went along, but there was a pretty decent turnover. As a guide, this is what you can expect:

1. Absolutely free - no buyer/seller commissions or fees - whatever you bid, the seller gets
2. Bidding opens at the first offer from the floor, or on a (declared) vendor bid from the seller
3. Sellers can make two vendor bids per item - an opening bid, and a subsequent reserve bid if their opening bid wasn't the reserve
4. If the seller makes a vendor bid, the item will be sold to the highest bidder unless a final reserve bid isn't outbid
5. If the seller doesn't make a vendor bid, the item will be sold to the highest bidder, unless the seller asks for the item to be passed in
6. Buyer pays the seller immediately after each item

The first auction ran roughly along these lines, but these simple guidelines are more for my benefit as auctioneer. Most items didn't need a vendor bid to kick them off or set a reserve, but the option is there for sellers.

The "pay as you go" model worked well in the second half of the auction - I think we will adopt this for all sales as it was a mad rush at one stage with people trying to figure out who to pay for what, so bring some cash, and bring some $1/$2/$5 for making change :)

We sold everything from bulk 50c pieces to proof kilo Kookaburras, a shipwreck certified-provenance 1783 Spanish 8 Reales, State $10 coins, 20oz bars - a really good mix. Funnily enough a kilo PM bar passed in!
 
Yes the "Pay as you Go" system worked best.
Meaning once that item's auction finished you went up and paid for it on the spot
 
goldpelican said:
adrenalin said:
New Auction Feature: Bring along any items to be auctioned off to the highest bidder on the day!
Click to expand...

The first one we ran of these was pretty successful with only one real hiccup that was compensated. We kind of made it up as we went along, but there was a pretty decent turnover. As a guide, this is what you can expect:

1. Absolutely free - no buyer/seller commissions or fees - whatever you bid, the seller gets
2. Bidding opens at the first offer from the floor, or on a (declared) vendor bid from the seller
3. Sellers can make two vendor bids per item - an opening bid, and a subsequent reserve bid if their opening bid wasn't the reserve
4. If the seller makes a vendor bid, the item will be sold to the highest bidder unless a final reserve bid isn't outbid
5. If the seller doesn't make a vendor bid, the item will be sold to the highest bidder, unless the seller asks for the item to be passed in
6. Buyer pays the seller immediately after each item

The first auction ran roughly along these lines, but these simple guidelines are more for my benefit as auctioneer. Most items didn't need a vendor bid to kick them off or set a reserve, but the option is there for sellers.

The "pay as you go" model worked well in the second half of the auction - I think we will adopt this for all sales as it was a mad rush at one stage with people trying to figure out who to pay for what, so bring some cash, and bring some $1/$2/$5 for making change :)

We sold everything from bulk 50c pieces to proof kilo Kookaburras, a shipwreck certified-provenance 1783 Spanish 8 Reales, State $10 coins, 20oz bars - a really good mix. Funnily enough a kilo PM bar passed in!
Click to expand...

Only awkward point in the auction was for multiple lots of the same item,generally when a bidder wins the first lot he sets the price for all following lots of the same item from the same seller and has first right at purchasing the remaining lots.If he declines to purchase the remaining lots then they fall at the 'winning bid price' to the bidder next in line.This occurred with the 1966 50's where the first winning bidder actually paid more for the first lot than the second bidder paid for the second lot.
I think there should also be a notified time frame prior to the meeting starting to put forward auction items so as not to eat into meeting time.
All these things were pretty unclear and better awareness would encourage the average joe to participate and not be overwhelmed by proceedings.
Perhaps handle stick on name tags to make it easier for the newcomers myself included to identify each other or a formal round the room ID.
The danger now is to stop the get together turning into just an auction house with everything geared towards just sales.
Perhaps a vote next meeting for a small sub committee to help Adrenalin with set up, running and clean up at the end.As gold coin donations grow money could be allocated to resources available to meeting participants.
Biscuits,cakes,sandwiches etc could be proffered by participants as i was hungry as a dog by the time i left the last meeting.Or alternatively a sellers $5 fee(which is bugger all if your selling hundred dollar items) could cover costs for some nibble's which can be brought bulk at super markets.
Any way just some thoughts
Regards
REDBACK
 
Points taken Redback - I don't necessarily want to be running an auction for three hours on my feet every meeting either. Had no idea it would spin out so long - I thought maybe half a dozen items might go up for auction tops. Might be an idea to cap it to a maximum number of submitted lots, or set a time limit - see what we can get through in x minutes etc. Perhaps an auction thread before the meeting - first dozen posts in the thread is the auction list and order on the day, max three lots per seller or something.

Also it was pretty chaotic with the items being auctioned - stuff was being submitted pretty much on an ongoing basis throughout. Fair point about multiple identical lots too. Never run an auction before.
 
Asking people to submit a list of their items by the wednesday prior to the auction on sunday 19th would allow lot numbers to be allocated to each item.Printed lists with brief descriptions(supplied at meetings) puts the historical onus back on the seller-this makes for fast accurate descriptions.The lot #'s just facilitates the ease of running allowing items to move fast and smooth.Amazing how much time this saves.
No late submissions allowed(hang on now) however allow everyone one wild card item to be auctioned in their own hands in sequential sitting order,this tends to move fast as well.
Split the meeting into 3 sessions.2-3pm public meet and greet facilitated by the old timers GP & CK(don't forget the food and drinks)
3-4pm auction
4pm-4-30pm selection of meeting subs President,treasurer,secretary,liaison,social committee mem,auctioneer. (these guys can then share the meeting set up running load)
Might sound a bit over done but the meetings will only grow and having an organised structure to welcome in new members can only benefit everyone
4-30 5-00PM ???
5-30PM -7PM ???
Time for Melbourne members to suggest in.its everyones meeting fella's.put up some ideas..what would you like to see..do etc..some of the above have worked well for regular charity auctions meet and greetsdon't forget the food(have i already mentioned that!!:)

Take care

REDBACK
 
Redback said:
phillis said:
meet twice a month.

one auction day, another meet day?
Click to expand...

Would love too..but time poor like most people

REDBACK
Click to expand...
But not a bad suggestion for smaller, more regional groups located around the Melbourne metro area such as north, south, east, west. Perhaps during the week?
 
I am of the same mind as Redback.
The only other thing l can think of adding is an agenda of points for discussion. Much like the headings used here on this website (ie. Silver, Gold, Precious Metals, Markets, Economics etc). Just a suggestion to throw out there.
BDM
 
Redback said:
goldpelican said:
adrenalin said:
New Auction Feature: Bring along any items to be auctioned off to the highest bidder on the day!
Click to expand...

The first one we ran of these was pretty successful with only one real hiccup that was compensated. We kind of made it up as we went along, but there was a pretty decent turnover. As a guide, this is what you can expect:

1. Absolutely free - no buyer/seller commissions or fees - whatever you bid, the seller gets
2. Bidding opens at the first offer from the floor, or on a (declared) vendor bid from the seller
3. Sellers can make two vendor bids per item - an opening bid, and a subsequent reserve bid if their opening bid wasn't the reserve
4. If the seller makes a vendor bid, the item will be sold to the highest bidder unless a final reserve bid isn't outbid
5. If the seller doesn't make a vendor bid, the item will be sold to the highest bidder, unless the seller asks for the item to be passed in
6. Buyer pays the seller immediately after each item

The first auction ran roughly along these lines, but these simple guidelines are more for my benefit as auctioneer. Most items didn't need a vendor bid to kick them off or set a reserve, but the option is there for sellers.

The "pay as you go" model worked well in the second half of the auction - I think we will adopt this for all sales as it was a mad rush at one stage with people trying to figure out who to pay for what, so bring some cash, and bring some $1/$2/$5 for making change :)

We sold everything from bulk 50c pieces to proof kilo Kookaburras, a shipwreck certified-provenance 1783 Spanish 8 Reales, State $10 coins, 20oz bars - a really good mix. Funnily enough a kilo PM bar passed in!
Click to expand...

Only awkward point in the auction was for multiple lots of the same item,generally when a bidder wins the first lot he sets the price for all following lots of the same item from the same seller and has first right at purchasing the remaining lots.If he declines to purchase the remaining lots then they fall at the 'winning bid price' to the bidder next in line.This occurred with the 1966 50's where the first winning bidder actually paid more for the first lot than the second bidder paid for the second lot.
I think there should also be a notified time frame prior to the meeting starting to put forward auction items so as not to eat into meeting time.
All these things were pretty unclear and better awareness would encourage the average joe to participate and not be overwhelmed by proceedings.
Perhaps handle stick on name tags to make it easier for the newcomers myself included to identify each other or a formal round the room ID.
The danger now is to stop the get together turning into just an auction house with everything geared towards just sales.
Perhaps a vote next meeting for a small sub committee to help Adrenalin with set up, running and clean up at the end.As gold coin donations grow money could be allocated to resources available to meeting participants.
Biscuits,cakes,sandwiches etc could be proffered by participants as i was hungry as a dog by the time i left the last meeting.Or alternatively a sellers $5 fee(which is bugger all if your selling hundred dollar items) could cover costs for some nibble's which can be brought bulk at super markets.
Any way just some thoughts
Regards
REDBACK
Click to expand...




Stick on name tags can be arranged. (With SS forum name and real name)
I was trying to avoid this as the last meetups were in a public place
but now we have a private room it should be ok.

Anyone got access to a free roll of stick on name tags?


Munchies can be supplied. I can get bulk deals on Pringles / lollies / chocolate / biscuits / nuts /......would we need bowls?
I'm not sure about sandwiches. Not to sure if the venue would allow external meals?
If you are really hungry, just get there a bit earlier and order a meal. Or you are welcome to order a meal during the meetup.
 
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