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Markdown Book Auction: A Fun New Element of the MSU Book Sale on July 22

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To make the MSU Surplus Store Book Sale this coming Saturday, July 22, even more interesting for our book-loving customers, we will be auctioning off between 10-15 high-value books. 

The auction will follow a markdown format. Each book will have a determined high-point opening bid. If there are no buyers at the opening price, the price will be marked down every hour. Markdown increments and times will be posted at the start of the auction. Interested buyers can wait in person until a book reaches a price they are comfortable spending, or they can fill out a reserve form for the price they are willing to pay.  The reserves will be posted on the markdown sheet and if it reaches that price, without another customer offering more, the reserve will be honored.  This allows a customer to establish the price they are willing to pay without having to stay at the sale until the end. Customers with a winning reserve will be contacted at the conclusion of the day's sale. 

MSU Surplus Store Book Sale 2017

For example, The Bon Vivant's Companion by Professor Jerry Thomas (1928), will have a starting bid of $100. As there are seven hours of auction time, there will be six markdowns of equal amounts. For this book, $15 will be the hourly markdown.  At 10:00 a.m.The Bon Vivant's Companion will be availible for $85, then $70 at 11:00 a.m. and so on until it reaches $10 from 3:00 p.m. - 4:00 p.m. At any point a customer can buy it for that hour's price, or they can put in a reserve for a lower amount, as long as there is not already a reserve posted at that price or a higher price.

Please watch this space for features on the books to be auctioned. 


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