WHAT IS THE STAR TRIBUNE GOLDEN GAVEL EVENT?
The Star Tribune Golden Gavel is an auction-style online event featuring great merchandise and services from local businesses. For nine consecutive days (Sunday, March 23 - Monday, March 31, 2014), you can bid to buy premium merchandise, services, entertainment and travel packages Ė and youíre likely to save some real dollars!
HOW DOES IT WORK?
Using auction-style bidding, you can place online bids on items and services from local and regional businesses and, if you are the highest bidder, pay for the item and receive a Winning Bidder Claim Form to pick up the item or arrange for/schedule the service(s) directly from the business.
- Bidding on items is controlled by the Bidder Trust Committee, which oversees the bidding process to ensure fairness.
- A predetermined set of guidelines that are explained in the Official Rules (located on StarTribune.com/goldengavel) governs the entire process on behalf of bidders.
Maximum Secret Bid. The Golden Gavel Event online bidding event features Proxy Bidding, which means that you can submit a Maximum Secret Bid for an item and let the Bidder Trust Committee act on your behalf to submit bids up to your maximum if your current leading bid is outbid by another participantís bid.
Some benefits of this type of bidding:
- You do not have to constantly submit one bid after another when you are outbid, and you do not have to follow the bidding minute by minute.
- When the bidding is finished, the person who has submitted the highest bid will buy the item at no more than $10 over the second place bid (or $100 over the second place bid for items with a value of $10,000 or greater), provided Reserve Value has been met.
Reserve Value. Each item has a Reserve Value. This is the minimum amount that bidding must reach for the item to be sold.
- The Reserve Value is usually 50 percent of the Ordinary Selling Price of the item, except in the case of items such as apartment/townhome rentals and motor vehicles and the like, where the Reserve Value may be higher.
- Example: Generally, apartment/townhome rentals and motor vehicles and the like have a Reserve Value of 70 percent.
- If the Reserve Value is not reached through bidding, the item will not be sold.
- During the course of bidding, each item will display one of two Reserve Statuses:
- Reserve not met. The amount of the highest bid is less than the Reserve Value and the item has not yet sold.
- Reserve met. The amount of the highest bid is at least as much as the Reserve Value and the item will be sold to the highest bidder.
- If your Maximum Secret Bid is the first to meet or exceed the Reserve Value, the Bidder Trust Committee will automatically place your bid at the Reserve Value and declare reserve met for that item.
WHO IS ELIGIBLE TO PARTICIPATE?
The Golden Gavel event is open to any person who resides in Minnesota and is at least 18 years old (or older in the case of certain age-restricted products).
- Employees of Star Tribune Media Company, LLC are not eligible to participate.
- Employees of participating Sellers may bid, but not on items that are provided by their respective Sellers.
HOW DO I PARTICIPATE?
- Determine the maximum amount you are willing to pay for the item you are bidding on. That will be your Maximum Secret Bid. This may not be the price you pay if you are the successful bidder (You may pay less, but never more).
- Choose a maximum carefully as you won't be able to reduce or cancel it later and you'll be legally bound to pay up to that price if it is the winning bid.
- Register yourself as a Bidder. You must provide your name, address, phone number and email address. The User Name assigned to you will allow you to track the progress of your bids online.
- If you misplace or cannot remember your User Name on subsequent visits to the site, the program will assist you in retrieving it through some simple personal questions.
- Once bidding has started, search for the item you wish to place a bid on and enter your Maximum Secret Bid.
When the bidding ends, you will be contacted by email or phone if you hold a Winning Bid for any item.
WHAT IF I WANT MORE INFORMATION OR WISH TO SEE AN ITEM BEFORE I BID ON IT?
Most tangible items in the Golden Gavel Event online bidding event may be viewed at the respective sellerís place of business and on the StarTribune.com/goldengavel website. Additionally, you can go to the sellerís website for more detail on items. As with any transaction, it is your responsibility to double-check all product numbers and any other information you receive from the seller to make sure that the information you receive pertains to the actual item you are bidding on. Star Tribune is not responsible for checking to make sure that the information you receive from the seller (whether at the sellerís place of business, on the sellerís website or elsewhere) is accurate or pertains to the item you are bidding on.
HOW DO I PAY FOR AND RECEIVE ITEMS?
If you hold the Winning Bid for an item, you will pay for your winning bid online at the marketplace site, or directly to the sponsoring business. Once full payment of the total purchase price has been made on the item, the buyer will receive a Winning Bidder Claim Form to be presented to the respective seller to release the item to the buyer. The Winning Bidder Claim Form must be presented within six months after the close of the marketplace event.
- In the case of big-ticket items such as apartment/townhome rentals and motor vehicles and the like, you must pay the sponsoring business directly.
- Except in the case of big-ticket items, you may also pay by telephone.
- NOTE: Taxes and delivery charges are not included in your bid. You will be responsible to pay any applicable taxes and/or delivery charges directly to the seller at the time you redeem your item or service.
WHAT IF I HAVE A QUESTION THAT IS NOT ADDRESSED ABOVE?
Please refer to the Bidder FAQ and the Official Rules which are available online.
NOTE: The above questions and answers are intended only as a guide. In the event of any discrepancy between these questions and answers and the Golden Gavel Event Official Rules, the Official Rules (which are published at StarTribune.com/goldengavel) will prevail.