SCCC AUCTION PROCEDURES FOR SELLERS AND BUYERS

CALIFORNIA STATE SALES TAX WILL BE DEDUCTED FROM ALL AUCTION LOTS SOLD AT A RATE OF 7.375%

The Stanislaus County Coin Club (SCCC) will provide a forum for auctioning SCCC member’s
numismatic items and paying the California Board of Equalization the sales tax collected from
all auction lots.

1. Sellers must be SCCC members
2. Once items are displayed for auction they cannot be removed.
3. No auction lots will be accepted after 7:00 p.m.
4. Sellers will only use the approved Stanislaus County Coin Club Auction Form
     - only (1) one auction form per seller per meeting (maximum 10 lots)
     - complete two (2) copies of the auction form
       (one copy for the seller / one copy for the SCCC treasurer)
     - if seller only wants junior members to bid, a notation needs to be made on that lot
5. The Auctioneer has the discretion to pull items out of the auction that may be misrepresented
6. All winning bids will include sales tax
7. All auction transactions will be in cash only
8. Sellers can make one (1) bid only on each of their auction lots
     - items won by the seller will be considered not sold
9. Winning bidders of each auction lot will pay the SCCC Treasurer in cash as won.
     - no running tabs of items won will be permitted
10. Sellers will collect from the SCCC Treasurer the total amount received in cash
    (less sales tax) from all their auction lots sold.

Approved by the Board on 12/7/2005
Procedure numbers 2 and 5 added and approved by the Board on 1/4/2006