I am pleased to announce the first public GoL First Friday Auction! It is held on the first Friday of every month. It starts at 8:00 PM Pacific time. All are welcome to come and see, or deliver items to be auctioned.

Turning in items for sale: All items will ONLY be turned into the Auction Director (Kurayamiko) or the GM of GoL (Manny). No Other Person is authorized to collect them! If you give them to someone else, you probably just gave them away.

ALL items must be in a bag with a Book enclosed. You can buy a bag and book from a provisioner for under 25 gold. The book will list the seller’s name and each item for bid. It will also list the Minimum Bid the seller is willing to accept for that item. It is also STRONGLY recommended you put your ICQ and/or email in the book, so we can contact you.

ALL Sets of items for sale must be put in a separate backpack so they can be put on the Auction Vendor for all bidders to view. Items not sold for the Minimum Bid will be returned to the seller. If the Auction Co-Ordinator or GM feel the Minimum Bid is extremely overpriced, they reserve the right to reject the item.

No Item will have a Minimum Bid under 10K gold. If you will sell it for less put it on a vendor!

FIVE (5) maximum items, including sets, may be submitted by each member for sale. The auction itself will be limited to a maximum of 40 items TOTAL per auction to keep it within the 2 hour time limit. Items will be auctioned off in the order they are received. If you want to be sure your items get in the auction, TURN THEM IN EARLY. Items not auctioned due to time limits will be kept for next month’s auction or returned to the seller, as the seller requests. No item will be accepted after 6 PM the day of the auction.

GOLD for items sold will be available the Sat & Sun immediately following the auction. It takes a while for the Treasurer and Auction Director to go over the figures so don’t ask to get your Gold right after the auction. You will receive your bag back with book enclosed, the book will contain figures on your sales. Any unsold items will also be in the bag.

COST TO SELL - The auction will keep 10% of the selling price of the item as commission.

HOW THE AUCTION WORKS
The item for bid is locked down on the auction table for all buyers to inspect. Is it is a Set of items in a backpack, the backpack will be placed on the Auction Vendor for a selling price of 50 Million. There buyers can open the backpack and inspect the items inside it.

One of the auctioneers runs the bidding. Trivial bids, for an insignificant amount higher, may be ignored by the auctioneer at his/her discretion. When the bidding stops the auctioneer will give 2 last calls for higher bids, then sell the item (i.e. Going Once, name & bid... Going Twice, name & bid... SOLD)

The Treasurer will put a Book on the Auction Vendor Representing the item for the price the item sold at. The buyer will then buy the book off the Auction Vendor for the selling price. Then they will offer to trade the book to the Treasurer or Bouncer. That person will make sure the buyer is actually the one who bought the item, then so ahead with a Secure Trade and give them the item for the book. The book may be rewritten by the treasurer for another item, or saved as a record of the sale, as the treasurer sees fit.

I am able to accept items from those on this forum, since I hope you trust me lol. Please identify your forum name, and verify it's me since my name in game is Adrianna, and I always have my GoL tag up and visable. Otherwise I will not accept your items. We accept limited items so the auction won't run on for hours and hours.

The location? Go to the tokuno islands, and pick the middle choice on the moongate. Head east out of town, and the first house you encounter at the top is the GoL tavern. The vendor/auction house is directly south east from there. Most evenings you will find someone at the tavern, and they will be more than willing to help you find Manny or Kurayamiko to turn your items in for the auction.

Hope to see you there!