Buyers Guide
These unique auctions take place on the 1st of each month, every month, and offer a means for buyers to locate a new range of stamps and First Day Covers. For simplicity there are two auctions: Stamps and World covers; and one for British First Day Covers only.
The benefits for buyers are: regular auctions; varied material; no buyers premium; most items with images; easy to check progress of your bids, as well as all descriptions being verified.
Here's how it works for you:
The price shown is the minimum price set by the sellers. Most lots will be at a fair price, and will no doubt reach a fair market value. The administrators take no part in pricing, but can offer advice to sellers on request.
Using increments of 50p up to £10.00, £1 for £10.00 up to £100: thereafter £5 increments, but irrespective what you bid, your bid will only go to one step above the next highest bid.
Here is an example: an item has a starting price of £50. Bidder A enters a bid of £100. The highest bid goes to £51. Bidder B comes in with a bid of £80. The highest bid then goes to bidder A, at £81.
The material is loaded directly on to the site (url: www.pennyred.com/auction/) between the 2nd and 20th of the month.
You will be able to download the Stamp and First Day Cover catalogues for free at www.pennyred.com/auction/download.cfm, or you can request a catalogue by post. The cost for either catalogue is £10.00 per annum to help cover costs. You can consider your first catalogue a free sample.
Once you have viewed the catalogues, you can bid anytime between the 21st and the end of month. The auction takes place on the 1st of each month at 12.00 GMT. Bids can be accepted by the administrators by telephone, fax, or in person. All bids will still be entered on the web-site after registration has been completed.
Once a bid has been placed, it remains until the auction. The cost to you is the realised price plus our postage cost. As the material remains with the sellers until sold, there is no advance viewing of lots. All the material will have been checked before despatch to you as a buyer, to verify on-line descriptions.
The stamp catalogues will appear in Country and Stanley Gibbons order; the First Day Covers in date order but you can request to be kept informed of any specific stamps or covers you are still seeking, using the 'contact us' page. You can use this page to contact our resident First Day Cover expert Geoff Todd.
Any disputed lots will adjudicated by the administrators, and any decision is considered final.
You can now buy with the certain knowledge that all lots are as described, at a price that suits you. We have built up a mailing-list which we think you ought to be on, if you aren't already. Happy hunting.
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