Online auction for 20 Bucks on the Street statues ends today at midnight along with the year 2012

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Today is the last day of 2012—New Year’s Eve. But just asimportant, it is the last day for people to bid online to own one of the 20artist-decorated Bucks on the Street statues that have been on display for thepast couple of weeks at Lenox Square mall and for months before aroundBuckhead.

The online auction of the 20 buck statues, which were eachhand-painted by a local artist, began Dec. 1 and will end at midnight Dec. 31.Proceeds from the auction will benefit  the greenspace program of Livable Buckhead. Tomake a bid, go to www.bucksonthestreet.org.
The online auction is the culmination of Bucks on the Street, atwo-year project in which local businesses sponsored bucks that were decoratedto their liking and displayed at their businesses throughout Buckhead.
The starting bid for each buck is $250, and each eight-footstatue has a “buy-it-now” price of $5,000. If a winning bid exceeds $1,000, theamount above that is a charitable donation and is tax deductible.
All proceeds from the auction will benefit Livable Buckhead, anonprofit organization that is leading an effort to increase greenspacethroughout Buckhead.
Here are some of the particulars about the auction, bidding anddetermination of winning bids. Go to www.bucksonthestreet.org.When you decide which buck you’d like to bid on, click on the “Bid Here” tab toenter your bid amount. You will see a box where you are instructed to “EnterYour Maximum Bid.” Your bid must be at least $50 higher than the currenthighest bid.
This auction is being conducted by proxybidding, which allows you to enter your highest bid at the outset. You areprotected from being outbid until that amount is surpassed.

Some of the Bucks that have been on display at Lenox Square mall. 

Here’s an example of how proxy bidding works:

• Current winning bid for your buck is $500.
• You are willing to pay up to $1,500 for thebuck.
• You enter $1,500 in the “Enter Your MaximumBid” box on the “Bid Here” tab.
• If no one has made a maximum bid of more than$1,500, you will become the current winning bidder. Your bid could be as low as$550 (previous high bid + minimum bid increment), or it could be as high as$1,500 depending on the maximum bid amounts entered by other bidders.
• If a bidder has made a maximum bid higher thanyour $1,500 bid, you will receive notification that you have been outbid. Atthat point, you can enter a new bid if you are still interested in purchasingthe buck.

If you wonder why you continue toget notices saying that you have been outbid, even though you entered an amounthigher than the current winning bid, it is because another bidder has set a proxy bid that is higher than all of thebids you have placed. 

Elizabeth Gill, at left, was one of the founders of
the Bucks on the Street program. She is pictured
with one of the Bucks and Denise Starling,
executive director of Livable Buckhead., the
benefactor of the proceeds from the Bucks sale.

Proxy bids are not visible to the public – only thecurrent winning bid is visible. The best way to avoid getting these messages isto determine the highest price you are willing to pay for the buck and enterthat amount in the bid box.
Should my first bidreally be my maximum bid? What happens if my maximum bid is significantlyhigher than the current winning bid? Yes, you should placeyour maximum bid at the beginning. Even if it is significantly higher than thecurrent winning bid, your actual bid amount will only be $50 more than thecurrent winning bid.
For example: Current winning bid on Buck A is$400. You enter a maximum bid of $1,000. Your actual bid will be $450, unlesssomeone has already entered a proxy bid higher than that amount.
What is the reserve?The reserve amount for each buck has been setat $1,000. If the final bid is less than the reserve, sale of the buck is atthe discretion of Bucks on the Street.