2013 Cares Run Silent Auction Rules:
Reminder of the purpose of this Auction: Remember the funds raised today are being used for a good cause
so each bid helps move us towards our goal of $60,000.00 in support of Cares and the clients we serve.
1. Bidders: Bidding is open for all adults 19 years or older. Proof of age may be required prior to releasing the item. 2. Bidding Process: Potential bidders of an item must: a. Download their particular item’s Bidding Form from www.cares.ca b. Fill it out completely – c. Indicate with an ‘X’ their understanding and agreement to the Silent Auction rules. d. E-­‐mail their bid forms to Irene at [email protected] e. Only one bid, per day, per bidder. 3. Opening Bid: Both auction items have a pre-set Opening Bid of $100.00 set by the Silent Auction
Committee (SAC). All bids must be greater than the Opening Bid. 4. Bid Increases: All bids for both items must be in denominations of $10.00 starting with the first bid on each item. a. For example – Opening Bid = $100.00 b. Subsequent bids can move up by $10s, $20s $30s 50s, 100s, etc. c. Subsequent bids cannot be increased by cents -­‐ .05, .10, .25, etc… nor individual dollar amounts -­‐
$1, $2, $3 etc…. 5. If a bidder finds they are unable to keep their maximum bid in play, it is THE BIDDER’s Responsibility to contact Irene ASAP either by email and withdraw their bid (s). 6. Daily Announcements on current highest bid: a. Bidders are encouraged to check the www.cares.ca each morning for the current highest bid from the day before. b. New bids can be submitted in the same manner as indicated above. c. A final daily announcement of the current highest bid will be at 9am on the morning of October 29, 2013. d. New bids after 9am of October 29, 2013 will be kept confidential until 4pm October 29, 2013 the close of the auction. e. The final winning bid will be announced on the morning of October 30, 2013. f. This process allows for all bidders to have an equal opportunity to remain in contention for one of the items. 7. Reserve Bids: Both items have a reserve bid that is higher than the opening bid. Should the reserve bid not
be obtained during the bidding process the SAC reserves the right to decide whether to release the item or to
remove the item from the auction.
8. Starting and Closing Times:
a. Bidding starts at 8:00a.m. on Monday October 14, 2013.
b. Bidding closes at 4p.m. on Monday October 29, 2013.
9. Winning Bids: Will be determined by the date and time the last bid was e-mailed in for each item. Once
the SAC has determined the winning bid for each item the winners will be contacted by the SAC and their
names will be placed on the www.cares.ca website on the morning of October 30, 2013 - following the close of
the Silent Auction on October 29, 2013 at 4pm.
10. Tie Bids: Tie breakers will be determined by the date and time both bids were submitted. In the event that
there is an exact tie between two bidders (dates and times match), the SAC will contact each bidder to inform
them of the tie and ask each bidder if they would like to increase their bid to break the tie and/or concede to the
other bidder.
11. Winners Obligation:
a. It is the responsibility of the winners to make full payment for their item within one week of the
close of the auction as well as to personally pick up the item and/or cover the costs for shipping the item to
their choice of address.
b. Should the winner default on payment within one week after the close of the silent auction, the SAC
reserves the right to offer the item to the next highest bidder.
12. Payment: All items must be paid for in full before the item will be released. Any exceptions will
be decided by the SAC.
13. Tax Receipts: are available for financial amounts over and above the listed market value. (i.e. the donor
receives a tax receipt for the market value of the item and the winning bidder receives a tax receipt for the
amount over and above the market value). Both items have a market value of $100.00 and therefore any
amount bid over $100.00 will be tax receipted.
14. All bidders, upon submitting a bid for one of the silent auction items, understands and agrees that the
SAC, The Cares Run organizers, the Cares organization (its Board and staff), nor any other individual or
agency connected with this event will not be held responsible for the outcome of the silent auction. The SAC
understands and agrees that they will do due diligence in overseeing this silent auction with integrity and
complete honesty.