The American Numismatic Association signed an agreement for Bowers and Merena Auctions to become the official auctioneer for two ANA numismatic shows in 2009. In return, Bowers and Merena has agreed to sign up 2,000 new ANA members, and pay certain fees and several commensurate sales incentives.
COLORADO SPRINGS – The American Numismatic Association has signed a definitive agreement for Bowers and Merena Auctions to act as the official auctioneer for the two 2009 ANA shows, the Los Angeles World’s Fair of Money® and the Portland National Money Show™, Executive Director Larry Shepherd announced today. Details of the agreement include sales incentives as well as a guarantee to sign up 2,000 new ANA members.
In consideration for the exclusive right to conduct the auctions and be designated as the official auctioneer, Bowers and Merena, which was selected by the ANA Board of Governors in March, has agreed to pay the ANA a base fee for both shows, plus two percent of the total sale price for all auction sales over $20 million (for Los Angeles) and $12 million (for Portland). In addition, Teletrade, an affiliate company of Bowers and Merena, will conduct a sanctioned Internet auction immediately preceding each convention.
Bowers and Merena has also guaranteed that it will sign up 2,000 new members to join the ANA from Sept. 1, 2008, through Dec. 31, 2009.
“We are very pleased with this contract because it provides incentives for both parties to work together to ensure that the auctions are as successful as possible,” said Shepherd. “In addition, we are extraordinarily pleased with Bowers and Merena’s commitment to help the Association build its membership.”
“This is an exceptional opportunity for Bowers and Merena to further secure our leadership role in this industry, and most certainly is a win-win for both parties involved,” said Greg Roberts, Chief Executive Officer for Escala Group, Inc., parent company of Bowers and Merena Auctions. “We appreciate the confidence that the ANA has placed in Bowers and Merena to conduct successful auctions at their shows and to help build the quality membership of their organization.”
“We pride ourselves on the level of professionalism and knowledge of our team,” added Steve Deeds, President of Bowers and Merena. “We have the numismatic experts and auction specialists on staff who will go the extra mile to provide an exceptional auction event every time. We have a tremendous respect for the ANA and what the organization does to advance coin and currency collecting, and the entire Bowers and Merena team is looking forward to working with them toward our mutual goals.”
Live auctions will be held during the Los Angeles World’s Fair of Money®, Aug. 5-9, 2009, and during the Portland National Money Show™, March 13-15, 2009.
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About American Numismatic Association
The American Numismatic Association is a nonprofit organization dedicated to educating and encouraging people to study and collect money and related items. The ANA helps its 32,000 members and the public discover and explore the world of money through its vast array of programs including its education and outreach programs, museum, library, publications, conventions and seminars. For more information, call 719-632-2646 or visit www.money.org.
About Bowers and Merena Auctions
Bowers and Merena Auctions was founded in 1983 and has grown to become the world’s preeminent numismatic auctioneer with more than half a billion dollars in rare coin and currency sales. Bowers and Merena has handled four of the five most valuable United States coin collections ever sold, including the Louis E. Eliasberg Sr. Collection, the Harry W. Bass Jr. Collection, the Garrett Collection for The Johns Hopkins University, and the Norweb Collection. For more information, call 800-458- 4646 or visit www.bowersandmerena.com.