GUIDE TO BUYING AND SELLING ON THE BID BOARD
What is a Bid Board?
A Bid Board allows anyone to sell their items to the highest bidder after a bidding period (usually one week).
How Does it Work?
To begin bidding, everyone must register with Ali’i Coins and will be assigned a number. This number will identify you for accountability purposes. All we will require for your registration is your name, and phone number. This number may be used for either buying or selling purposes. When the Bid Board for the current week concludes, it is your responsibility to present your number to a staff member, and you will be given the results of your bid. We will tell you if you won the item you bid on after contacting Ali’i Coins!
How Do I Bid?
Simple! On the board you will see many items, and hopefully you’ll want some of them. The Bid Card will have a description of the item, along with a section on the right side of the card for people to write their bids. You simply write your Bidder # and your bid immediately below any previous bid (or the starting price). This makes you the “high bidder”! Remember though, someone else may come along afterwards, want that same item and may bid higher for it. You’ll have to develop your own bidding strategy.
How Do I Sell?
Once you have your number you will need to have “Bid Cards” and an Owners Sheet”. (These are available from Alii Coins at no charge). For each item you wish to place up for bid you will complete the Bid Card, and each item will be logged in on the Owners Sheet. Alii Coins will review it for accuracy and completeness, accept the items and issue you a receipt. The coins will be placed on the next available bid board. Once that week’s board has closed we will sort the coins, notify the winners and accept payments for the items. Within approximately one week all payments should have been received and Alii Coins can pay you for your items. Alii Coins receives a commission from the seller for this service. The Bid board will close at noon on every Saturday. Alii Coins may from the time to time place their own items up for bid, or may place bids for the purpose of purchasing items. Alii Coins reserves the right to remove any item at any time, from any seller and to impose limits as to the number or types of items that are offered.
NO COUNTERFEITS, COPIES, OR REPRODUCTIONS. A reproduction or copy is only allowed if the item bears the appropriate marking (as required by the Hobby Protection Act). AND the Bid Card has “REPLICA” , “COPY” or “REPRODUCTION” IN BOLD letters as part of the description.
APPROPRIATE ITEMS. Only items that are related to coins, tokens, medals, currency, Hawaiiana or stamps are allowed to be offered.
ALII COIN & CURRENCY BID CARDS. Only Alii Coin & Currency Bid Cards may be used. You may not use other bid cards, or photocopies.
NEVER REMOVE AN ITEM FROM THE BOARD! If you happen to see an item that seems to be coming loose please tell us about it!
NO DECEPTIVE DESCRIPTONS! Descriptions should be informative ,plain, simple, and non-deceptive.
HONOR YOUR BIDS! Please don’t bid if you don’t intend to buy! If you make a mistake bidding please bring that to our attention immediately!
WRITE LEGIBLY! We want to be able to quickly identify who the bidder is and what they bid. ( Do not try to write so “LARGE” that other bidders can’t fit their bid in.)
BID THE CORRECT BIDDING INCREMENT! The appropriate bidding increments are posted. If in doubt, ask! Improper bids (wrong bid increment) will be corrected, and the final bid will be adjusted. Continued improper bidding will be cause for suspension of bidding privileges. (If you see an improper bid please tell us.)
OVERSIZE OR HEAVY/BULKY ITEMS.
These are items that can not be physically placed on the Bid Board. These will be retained in a display case (or other place as determined by Alii Coins) with the original Bid card. A duplicate Bid Card will be on the board, with a description of its location, and bids will be made o this card. An extra charge to the seller may apply. Currency in holders, while technically “oversize” are exempt.
HIGH VALUE ITEMS. These will be retained in a display case (or other place as determined by Alii Coins) with the original Bid card. A duplicate Bid Card will be on the board, with a description of its location, and bids will be made on this card. An extra charge to the seller may apply.
BE KNOWLEDGEABLE! We hope you will do your “due diligence” and learn what the value of something is before you bid. There are many resources available to learn about virtually anything!
PLEASE PAY PROMPTLY! The owner of the coins expects prompt payment, but we can’t pay them until you have paid for the item. NO RETURNS.. Items purchased from the Bid Board are non-returnable.
BIDBOARD PAYMENTS. In order to avoid the problems (and expenses) associated with checks and credit cards we do require that all payments be made in cash.
NO “SHILL” BIDDING. A seller may not bid on their own items, EXCEPTION: One “protective bid’ is allowed if the seller proves either he has made a material mistake in re: the value of the coin, or if changing precious metals prices/market conditions render the original opening bid unrealistic. This “protective bid” will be written in BOLD, RED INK (so that others will realize the nature of this bid). No other RED markings will be allowed on Bid Cards.
BID BOARD CLOSE. Please be courteous to the other bidders . Do not attempt to interrupt or block other bidders. At the appointed “CLOSE TIME” please ensure your final bids are made and move away from the boards so that Alii Coins can remove them, replace them with the next week’s boards and process this week’s transactions.
TOURIST/VISITOR BIDDING. We will allow tourists/visitors to register and bid. The tourist bidder will be asked to fill out a form, listing (by Board #. Owner #, and Lot #) the items they are interested in, and the amount they wish to bid. Shortly before the bid board closes Alii Coins will execute bidding on behalf of the bidder. Alii Coins will charge a fee for this service
GENERAL EXCISE TAX. Alii Coins applies the GET to all transactions.
COURTESY, RESPECT AND ADHERENCE TO THE RULES. These are fairly simple, common-sense rules. Please know them, and abide by them, Failure to do so may result in nullification of bids or sales, removal of a seller’s items from boards, suspension of privileges, or any other such action that Alii Coins deems appropriate.
UNSOLD ITEMS. Unsold items may be “recycled” to the next available auction at the discretion of the item’s owner and Alii Coins. Items that remain unsold after being offered three times may not eligible for recycling.
RESPONSIBILITY FOR LOSS OR DAMAGE. While Alii Coins & Currency will exercise every reasonable precaution to protect your items as if they were our own, we will not be responsible for any loss or damage to seller’s items while in our custody.
COMPLETE RULES AND PROCEDURES ARE LOCATED AT ALII COINS.
There are no Buyer’s fees!!
SELLER FEES Sellers will be charged a 15% commission to sell their items (based on the highest bid received). There is no fee for unsold items.
All Current Bidding increments are posted near the Bid Boards. These picture you see below are the “Minimum Bid” increments. There is nothing prohibiting a person from bidding higher than these increments.