Auction Review
Lot number 1 , we'll start the auction at RM1 for every item. RM1 ??
Yup , we done that before during our 2016 annual stamp fair (23 October 2016). This special event auction was a success. The highlights of the auction were loaded interesting Penang Free School Private Covers and Merdeka First Day Covers as the auction was schedule two days after Penang Free School Bicentenary and it is announced through press conferences and social media so it was wise to arrange those item for the highlight of the auction. Every lot on auction must start bidding from RM1, of course the reserve price were only known by the auctioneer.
For example,
Lot No.1 start bidding from RM1
The highest bid received was RM20
Lot No.1 reserve price : RM25
The bid was lower than the reserve price therefore the auctioneer should reveal the reserve price and offer to the bidder.
1) If the bidder reject the offer, the lot remain unsold.
2) Bidder agree the offer, the lot sold at the reserve price (RM25)
The auction was run by Mr Ng Wee Theng, it is an exciting auction we organized so far and we are looking forward to do it again this year. Before that, we'll have our annual Auction No94 first on the 26 March 2017, Mr. Lim Ken Beng will the auctioneer and Mr. Tan Thean Soo will be our honoured reader. Accept postal and SMS bidding.The auction will not start bidding from RM1, the auction list will be out soon, so stay tuned. The item on auction will be around 120 units, we'll make the auction more exciting and your trip will be worth it as we guarantee the quality of the items on auction.
As for the auction that starts from RM1, we'll organise again this year. Hope to see you soon.
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Auction No.94 Date : 26 March 2017 Time : 2pm to 6pm Venue : Batu Lanchang Market Community Room
