book auction

Today I'm looking for info on "How to conduct a book auction?"

Asked it at Yahoo Answers.

Here is a nice piece I found:

"Sometimes an agent will decide you have a particularly hot book (and knows several publishers who would love to acquire it). In this case, she will conduct a book auction, where she will give the houses a date and time by which they need to make their offers. My book, MOTHERS AND DAUGHTERS, was auctioned and it was fun receiving updates about the incoming bids. The book auction is typically conducted over the phone and can proceed in a variety of ways, such as round by round (letting a publisher know they will need to increase their offer), or simply by best bid offers. " Source

Here is another piece:

"If you’re lucky, there is tremendous enthusiasm and you can set up an auction or have an impromptu auction. This is when you go in rounds, publisher by publisher, to get increasingly larger offers (see my website http://www.jennybent.com/ for a more complete explanation). Or maybe just one or two publishers want to buy. Either way, it can be a tricky situation, and I just realized that this wasn’t part of the question anyway!" Source

Great article on book auctions by Barbara DeMarco-Barrett!

And this is the first piece I found:

"A book auction can take many shapes and forms. The basic premise is that you have more than one publisher who wants to buy your book project. Your agent will then give the houses a date and time by which they need to make their offers. The auction, which is conducted over the phone, can then proceed round by round, or by best bid offers, or via a variety of other options. Agents vary in the way they conduct auctions and in the frequency with which they conduct them. Some agents auction every title they sell, and some reserve the auction for only those books for which they anticipate a great deal of interest." Source