Auction Rules

• The Live Auction will begin approximately at 8:30 pm, November 18, 2023, and continue until all items have been auctioned.
• Payment by the successful bidder may be made at the end of the auction. Bidder may pay at one time for all the items purchased. Payment will be made using the credit card registered to the winning bidder's number.
• All sales are final. There will be no exchange nor any refund on items by the donors or Ursuline Academy except where specified, or unless the donor is unable to make full obligation as described. Please do not ask the donor for exchanges or refunds.
• Items may be claimed ONLY when proof of a winning bid is presented. The value placed on items being auctioned are donors' estimates and are not guaranteed by the auction committee for tax purposes or general purposes.
• Unless otherwise specified, dates and times are to be arranged at the mutual convenience of the donor and the buyer.
• It is expected that all auction items will be removed from the premises on the evening of the auction unless special arrangements are made at the time of payment. If you are unable to take home a large item the night of the auction, it may be picked up on Sunday, November 19, 2023, from 1:00 pm to 3:00 pm.
• The high bidder will be acknowledged by the auctioneer. If the auctioneer determines that the opening bid or any bid is not commensurate with the value of an item offered, they may reject the same and withdraw the item from sale; and if, having acknowledged an opening bid, they decide that an advance thereafter is not a sufficient amount, the may reject the advance. The auctioneer retains the right to announce conditions of the sale at any time. In the event of a dispute, the auctioneer will have the sole and final discretion in the matter.
• All items must be used within one year of the auction's date unless otherwise specified.
• Use only the paddle number assigned to you for bidding.
• Upon winning an item, a bid spotter will collect your signature.
• All winners will either be given applicable prize materials or they should claim items at the Check Out table after the auction.

 Tax Info

The IRS requires that charitable organizations inform contributors as to the deductibility of payments and donations made for fundraising activities. Following are guidelines to assist you in your tax preparation.

• Dinner Ticket Each dinner ticket purchased is tax-deductible to the amount it exceeds the fair market value of the meal: $60 per person.
• Raffle Tickets No deductibility.
• Cash Donations Tax-deductible to the fullest extent of the law.
• Gift Contributions Tax-deductible to the fullest extent of the law. For non-cash property donations, it is advised that you consult with a tax professional. The auction checkout form should serve as your official receipt of the items purchased at the Ultimate Auction. The value set for each item is in a "good faith estimate" as required by the IRS. You may deduct only what is paid in excess of each gift's fair market value. You should retain your receipt if using overbids as contributions on your taxes.
• Auction Item Contribution Donors of items to be auctioned or won at the event are responsible for claiming the value of the donation.
• Prizes Prizes valued over $600 are subject to IRS regulations.