Silent Auction Rules

1. Each item in the silent auction has a bid sheet at the table. Persons wishing to bid may do so by placing their bid number and the bid amount on the bid sheet. (Bids below minimum bid will not be accepted.)
2. Each succeeding bid must equal or exceed the required increment ($5.00) in order to constitute a valid bid. Bids must be in whole dollar amounts.
3. Each new bid must be written on the next blank line available.
4. An announcement will be made at five minutes and one minute before the closing of the silent auction. The highest bidder at the close of the silent auction will be the winner of the item. The Auction Chair shall maintain the official time and shall have the ultimate and exclusive authority to close the auction.
5. Bidders may not block others from viewing the bid sheet or making bids.
6. The closing bid circled by an auction official constitutes the winning bid. In the event of any dispute, the auction chair shall have the sole discretion to determine the successful bidder.
7. If two or more bidders engage in "bid raising" that increases a particular item's bid more than 6 times in the last 5 minutes of the auction, the involved bidders can opt to extend the auction period until a final, highest bid is reached. If the Auction Chair or one of the Chair's designees believes such a "bid showdown" is warranted, the following rules apply:
   • Before the close of the auction, the Auction Chair shall announce a bid showdown is possible.
   • At the close of the Auction Chair shall ask each eligible party if they wish to continue bidding.
   • If no one wishes to extend the bidding, the current highest bidder wins the auction.
   • If two or more parties wish to continue, any party can raise the current highest bid (minimum bid increment of $5.00, no maximum bid increment).
   • The other parties have one minute to decide to raise the bid.
   • The process shall continue until no additional raises are made.

Payment/Pickup information

8. All sales are final and there will be no exchanges or refunds. Payment must be made in cash or by VISA credit card. All items and services are donated and are being sold "as is." The USATF Silent Auction Committee makes no warranties or representations whatsoever with respect to such items and services. The USATF Silent Auction Committee is not responsible for changes made by donor.
9. All Silent Auction items purchased must be paid for, in full, and removed Friday, December 30, 2007 at the USATF merchandise booth in the Sheraton Waikiki Ballroom Foyer between 10:00 a.m. and 6:00 p.m. A "PAID" receipt from the check-out table will be issued at the time of purchase. USATF and the Silent Auction Committee Committee are not responsible for items left behind.
10. If the winning bid (amount paid) is greater than the item's fair market value, the difference may be deductible as a charitable contribution. The USA Track & Field Foundation is 501(c)3 charity. USATF shall shall make a good faith, best estimate of each item's fair market value prior to the auction. Consult with your tax advisor.