budgood

Are these against the rules here ?

Say that I have a nice bag of Wheat Cents that I want to go to a forum member but cant choose which one if there are more that one member that would be interested. Can I do a PM bid auction ?

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GDJMSP

Sure, that would not break any rules. Just be sure to post your notification of such an auction in the Open or Auction forum. And provide the details for any interested members to contact you by PM only.

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Peter T Davis

I've always encouraged people to do business via PM. Silent auction would work pretty well when you have several guys interested in a coin you want to sell.

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desertgem

Peter, how would one update the high bid? by editing the original posting in OPEN subforum?

Say if I had a listing in open , like

Coin X silent bid , pm me any higher bid before 12/1/08 @9:00pm
starts @ $5.00, $1 increments. Now @ $5

and then when some one bids $6 dollars I could go and edit the $5 to

Coin X silent bid , pm me any higher bid before 12/1/08 @9:00pm
starts @ $5.00, $1 increments. Now @ $6

etc. until the end? I have not yet done an OPEN listing so don't know
how much editing can be done by original poster.

Also can the one allowed posting have multiple coins running? photos?

Thanks, I can see this enhancing participation in the OPEN portion.
Thanks

Jim

Peter T Davis

It would be somewhat cumbersome to try to run an auction like that here. The way I understand a silent auction is that each bidder simply submits his best bid, and the top bid wins, it's not like a typical auction where the auctioneer tells all the bidders what the top bid is and the bidding ends when nobody outbids the top bidder. A silent auction would be much more suitable for the tools we have at our use here.

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Speedy

I agree with Peter. The collage here in town had a silent auction once and everyone could go around and place and write down the lot number and what they were willing to pay. When the bids were opened the top bidder for that lot won.
Lets say there are 3 bidders...
A: bids $10
B: bids $25
C: bids $5

Then bidder B would get it for the full ammount of his bid. If there was a tie bid, then it would be either to the first person to put the bid in, or another round could go on between those two bidders.

Speedy

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desertgem

Ok, The "silent auctions" I have been to, both county estate and coin club, people are given different anonymous numbers ( wouldn't be needed if by PM) and write that number and a bid on a running tag attached to the object until the time is up. The last number ( and highest bid) is the winner. This method benefits the seller, as usually when the bid is going up, more consideration is developed. To me this is an auction. To just solicit single bids by PM isn't an auction in my mind, just a "What do you offer for this", which is OK also ifthat is what a seller wants.
Thanks,

Jim