Auction Rules  
     
 


The Process

Here is where you can sell or purchase scale model cars and automobiles. The last 5 bids are posted. When an auction is concluded, the auctioned replica is sold to the person submitting the highest accepted bid. An exception is when the highest bid is less than the minimum acceptable bid set by the seller. Settlement should occur within 5 business days.

Sellers

Sellers submit a brief, but specific description of the replica or replicas they wish to auction. Sellers use either the Post Items drop-down menu at the top of this section or the Sell Your Items portion of the MAIN AUCTION PAGE to select the appropriate scale page they will use to enter their information. They also may specify a minimum bid, or set an undisclosed reserve below which they will not sell the replica. When the auction for each replica ends, the seller makes his own arrangements to transfer the replica to the highest bidder.

Sellers are advised of the buyer's contact information via email. Sellers pay for this service, and should keep this in mind when setting their minimum acceptable bid. The fee is paid only if the item sells. Auction Commissions are paid via a charge to the credit card the seller submitted in opening a Seller's Account.

Auction Commission:

Below $20 = $2

$20 - $500 = 10%

Over $500 = 10% of first $500 + 5% of amount above $500

Maximum commission = $100


Examples

Sale PriceCommissionCalculation
$15$2$15 x 10% = $1.50 so minimum applies
$150$15$150 x 10% = $15
$250$25$250 x 10% = $25
$700$60($500 x 10%) + ($200 x 5%) = $50 + $10
$1600$100($500 x 10%) + ($1100 x 5%) = $50 + $55 > $100 max

Sellers may upload one digital picture of each item they wish to auction from their hard drive. If the image is primarily horizontal, width max is 750 pixels. If the image is primarily vertical, height max is 650 pixels. No image may exceed width of 750, height of 650. The images may be either .gif or .jpg. Sellers may also opt to use a photo-hosting service instead of uploading a picture. If a photo-hosting service is used, multiple pictures may be displayed.

Sellers can also advertise on their own site the auction of their item(s). Use the URL below, where ITEMNUMBER refers to the number we assign your item.

http://www.diecast.org/diecast98/html/asp/auction/aucitem.asp?ITEMNUMBER

Buyers

Buyers should review the description of items auctioned and decide whether they wish to place a bid higher than the highest posted bid. No bid will be accepted if it is not at least equal to the highest bid plus the minimum bid increment. Buyers should only submit a bid they are willing to execute should that bid prove to be highest when the auction concludes. At the end of each auction, the winning bidder makes his own arrangements to pay for the item.

The winning bidder will be notified by email and provided the seller's contact information.

  

The Exchange

When a Buyer makes a bid, he signifies his ability and intention to purchase the item if his bid is the highest at the close of the auction. Bid retraction is not permitted.

By submitting an item for auction, Seller signifies his ability and intention to sell the item if the winning bid exceeds his stated minimum bid. It is up to the Seller and Buyer to decide upon how the exchange will be transacted. We are not a party to this transaction.

A Buyer's failure to execute the bid within 5 business days means the Seller may at his discretion sell to the next highest bidder.

Each auction concludes at 11:00 pm [Eastern Standard Time] on the End Date shown unless extended by a qualified bid as described in the FAQs.

  

Why You Shouldn't Renege or Retract

To enforce the validity of the Auction, we impose a penalty for those very rare occasions when a Highest Bidder retracts a bid or a Seller reneges on selling to the highest bidder. That party will not be permitted to participate in any Auction for a period of six months.

  

Special Rule for Modifications

All posted items that have been modified in any way for resale shall contain this notice at the end of the description:

"The additions to this model were made by the seller."

    

The Disclaimer - We Didn’t Do It and We Don’t Know Who Did

If you participate in this auction, you are letting us know that you understand and are willing to follow the Auction Rules that you have just finished carefully reading. And you must also agree to all of the stuff that comes next. By the way, the words "sponsors," "we," and "us" refer to Legacy Diecast Models and Jay Olins.

This auction is offered as a service to that wild and crazy bunch who collect scale model replicas of cars. Sellers and bidders assume all risks connected with using this service.

Whether you are bidding or selling, you agree that we are not liable for any losses or damages that happen to you as a result of your participation, and you indemnify us against any damages we face as a result of your participation.

This is a grown-ups site and you must be legally able to be bound by contracts.

Bidding on your own stuff is against the rules, and so is getting someone else to bid for you.

We won’t keep information once an item is sold. If you want to keep a record, you’re welcome to copy and paste it into your own computer.

We reserve the right to extend bidding deadlines, so don’t put in a bid on the last day and then figure you’re the winner. Check back to see if the bidding is still open.

We respect the right of privacy, so any information you glean about bidders or sellers cannot be used by you for any reason whatsoever.

You guys and gals must make your own arrangements for payment and shipment. Work out something that makes you both comfortable. We are not responsible for assuring shipments or payments.

Sometimes members of Zone management will sell items on the auction. If we do, we will disclose the fact that we are the seller. And then of course we will be responsible for the accuracy of our descriptions and the shipping of the goods. And if we’re a buyer, then we’ll be responsible for payment.

Computers are wonderful but they aren't infallible. Neither are humans. So mistakes happen, and the sponsors can't guarantee that this site will always be accessible to you or that errors won't occur. We want you to enjoy the auction, but you agree to assume all risks when you use it.