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General Live & Silent Auction Rules & Conditions
Live Auction Rules
1. To bid, hold up your hand. Spotters will assist the auctioneer in identifying the current highest bid.
2. At the fall of the hammer, the successful bidder will be required to make payment for the item. Winning bids greater than USD 7,000 may be settled by bank draft/transfer (within 5 business days), please contact Ye Lei (AmCham) at 8519-2366
3. Bid Increments: USD 500
Silent Auction Rules
1. Bids are quoted in RMB.
2. All successful bids are binding and must be paid this evening.
3. Payment can be made in either RMB (cash) or credit card (Visa, American Express, MasterCard or Diner's Club). Payment can be made between 11:15pm and 12:00am at the cashier booths located in the lobby. Please note that there will be an additional 3 percent surcharge when paying by credit card.
4. Bidding will be done in writing on the bid sheet next to each item.
5. All bids must reflect the minimum bid increment. For example, the minimum bid increment for an item may be 50 RMB; then each bid must be 50 RMB higher than the previous bid.
6. At the designated closing time, workers will remove the bid sheets from the auction area, determine if bidding is in accordance with the bid increments, highlight the winning bid, and return the bid sheet to each item. Please do not bid after the closing of the auction. Any late bids will not be counted.
7. In the event that multiple bidders are present at the close of bidding, each will be asked to privately write their highest bid and give it to the that section¡¯s worker. The winning bid will be determined immediately from the written bids.
8. Once payment has been made, the cashier will stamp the bidder¡¯s sheet. The auction item will be released to the bidder on presentation of this sheet. Items larger than one cubic meter will be delivered courtesy of Santa Fe Relocations.
Silent Auction Items Bids Close at 10:45 pm
Winning Bids Payment & Pick-up: 11:15 pm -12:00 am
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