Wells closed his store with regret.As previously reported, Broadway stalwart Bailey/Coy Books succumbed to the cruel recession last month. And, in addition to the slumping economy, pressure from big-box retailers and Amazon probably didn’t help the fate of the 26-year-old store, which had a strong presence in the LGBT community. The store closed Nov. 20, but tonight a festive wake and auction will be held.Owner Michael Wells, who has long-fretted about the retail meltdown on Cap Hill, will be there. Items to be auctioned include boxer shorts signed by David Sedaris, cartoons by former locals Matt Groening and Lynda Barry, a painting by Seattle artist Ellen Forney, and other wares. Fuschia Foxxx and Dina Martina will host. Stand-by tickets may still be available at the bookstore door. 414 Broadway E., $40, 6 p.m., Thurs. Dec. 3.