Bid Board

Absolutely! I seek out with places that have them. I've seen them in coin shops, hobby stores, general merchandise,pawn shops; there's even one in an agricultural supply place around here. Usually put there by a proprieter who has an interest in coins, but not the inventory. Their cut is usually 10-20%. IMHO, it's a great idea.

Thanks Bio,that explains it. I don't think I've ever seen one.

The bid boards I have seen either ended at the same time or had two sides with both running two weeks. One ended one week and the other ending a week later, the first board started one week before the second. However you do it set the bid board up so that the ending day is most convenient for your customers to be able to be in your store when they end. I have seen bidding wars for especially popular coins when nearing the end of the auction.

Keep a journal for the bidders with the folowing information, bid number, name, address, phone number and as an option email address. If the high bidder is not present then a phone call the next day to let them know they were successful with one or more of their bids. Once the board closes organize the lots with winning bids in large manila envelopes with the bidders number on the front and the lots won with the bid sheets inside so they will be handy when the bidder comes to pay for his/her lots. Also keep a folder for the consignors having their name on the tab and inside enclose the list of items consigned to the bid board which they provide at the time they bring in the lots. You can then put the bid cards in their folder once their lots which sold have been paid for. Require high bidders to pay for their lots within a specified time. Typical fee is 10% for the store. I have participated in small and very large, a full 20' x 30" room, bid boards and the ones most successful had a wide variety of coins and numismatic material ranging from $1.00 to a couple of hundred dollars. The items valued over $50.00 were under lock and key and the others were covered by a sheet of plastic which slid to the side for access to the corkboard they were pinned to. Good luck with your bid board.

Ed
ANA LM-3175