Silent Auction

LOCATION: Williamson Banquet Room 3
ENTRY DEADLINE: Thursday 10:00 pm
BID DEADLINE: Friday between 4:00 and 4:30 pm
BUYER SETTLEMENT: Saturday 8:30 am - 10:30 am
SELLER SETTLEMENT: Saturday 11:00 am - 1:00 pm
Silent Auction Room
Want to get rid of your extra model railroad items without going through the hassles of selling them online? Would you like to find that special model that isn't available in stores? Well, the silent auction is for you!

How it Works

Silent auctions are similar to online auction sites like eBay: The seller presents one or more items (a "lot") for sale. During the bidding period, which runs until Friday afternoon, convention attendees can write in a bid for the lot. At the end of the bidding period, the highest/most recent bid wins! Saturday morning the winners pay for the lot(s) they won (and receive their items), and then the buyers are paid the winnings, minus a small fee to the LSR for hosting the auction. Unsold lots are returned to the sellers without charge. That's all there is to it! Make sure you read the official rules below for all the details.

You'll be amazed at the items you can find at the silent auction. Go through your inventory of stuff - models, supplies, tools, books, decals, you name it! There's no doubt you'll find something that would make a great entry!

Rules

  1. All buyers and sellers shall be identified by their convention registration number.
  2. A "lot" shall be defined as one or more items selling from a single auction form. Sellers shall fill out an auction form for each lot. Required information includes the seller's convention registration number, a description of the item(s), and any reserve bid. The unique item number(s) will be written by silent auction staff.
  3. Items may be entered starting on Wednesday at 6:30 pm through Thursday at 10:00 pm. Operational hours will be posted at the auction entrance; the room may close from time to time for staff scheduling reasons.
  4. Sellers may bid on their own items.
  5. All opening bids shall be equal to the reserve bid. In the absence of a reserve bid, the minimum opening bid listed below (based on the value of the item) shall be used:
    Item Value
    Less than $10
    $10 to $50
    More than $50   
    Minimum Bid
    $0.50
    $1.00
    $2.00
    All bids over $10 shall be in even dollars only.
  6. Some time on Friday afternoon between 4:00 and 4:30 pm (at a pre-determined time), a whistle shall sound signaling the end of the auction. When the whistle sounds, everyone shall raise their hands and exit the room. The auction staff shall close the doors and begin reconciliation of all items. Should an auction staff member observe any bidding activity after the close of the auction, the bid card for that item will be picked up and the last bid deleted; the bid shall revert to the previous bid. It is the intent that the seller shall not be penalized for inappropriate actions by bidders.
  7. No bid shall be withdrawn after the close of bidding. When an item is sold, the seller shall pay a fee equal to ten percent (10%) of the selling price to the LSR. The exception is any estate items. This fee shall apply to all items sold, inclusive of the items purchased back by the seller.
  8. The auction staff will settle with all buyers first, from 8:30 am until 10:30 am on Saturday. Transactions will be in the form of cash, check or credit cards, but credit card transactions will include a transaction fee of 2.2% plus 30 cents.
  9. The auction staff will then settle with all sellers, from 11:00 am until 1:00 pm on Saturday. Seller transactions shall be in the form of a check issued on the convention account.
  10. All unsold or unreconciled items shall be returned to the seller. In the event that the successful bidder cannot be located by noon Saturday, the item will be deemed unsold.
  11. Any unclaimed items shall go to the convention committee for disposal as it sees fit.
  12. All conflicts, discrepancies or other matters requiring interpretation shall be resolved by the auction chairperson and convention chair, whose decision shall be final.
Forms will be provided at the convention.