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Thread: Auction House Strategy
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01-31-2016, 11:24 PM #21
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- Sep 2014
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- 31
Re: Auction House Strategy
I'm not a fan of the all or nothing close. I prefer the 15 minute limit per lot. I typically bid live but placed a max bid last night around 1:30 am CT and went to bed. It ended well for me. Maybe I shouldn't complain.
The upside to the all or nothing is that my 18 week old son and I are bidding together. Those late night/early morning feedings and auction closings are bringing us together in the hobby.
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01-31-2016, 11:29 PM #22
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- May 2015
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- 1,096
Re: Auction House Strategy
I had a bid on a bat on eBay that I put the first bid in to prevent a buy it now situation. Less than a day til auction ends I get outbid (I didn't put a max bid so it was easy to outbid me). I figured I'd wait until final seconds and put in my second max bid. Low and behold , about 5 hours til auction ends I get a message from eBay saying his bid is revoked. Final ten seconds this same guy puts in the bid again, I beat him with 7 seconds left. In my opinion revoking a bid and then coming right back and bidding in the end is not cool to the seller or the other buyer.
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02-01-2016, 01:33 AM #23
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- Nov 2005
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- 979
Re: Auction House Strategy
johnsontravis@ymail.com I think there was a more recent conversation about this when a Goldin Auction went ridiculously long. My opinion I do not like the whole letting each auction get an extra 15minutes because one got a bid. I too think every auction be separate. The only reason I don't like the "just put your highest bid and go to bed" idea is because sometimes you can only afford one item and are interested in two. If you have to put in your highest bid while both are still open you have to commit to just one item since you can't get both. If the item you bid on goes over your budget and the second one didn't go over what you would have paid you are stuck getting nothing.
I AGREE 100% WITH BOTH OF THESE POSTS. WELL SAID!
Mark Hayne
Gridiron Exchange
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05-08-2016, 05:51 AM #24
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- Jan 2006
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- 2,547
Re: Auction House Strategy
Auction houses really have to fix the way they end their auction and the stupid 15 minute rule. I don't think its really fair when you're winning a item for over 6 hours in extended bidding and no other bids during that time but then get out bid and the auction closes 20 minutes later.
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05-08-2016, 11:02 AM #25
Re: Auction House Strategy
What'd you get outbid on late? You had a contest cert to use in this auction?
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05-08-2016, 01:24 PM #26
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- Dec 2009
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- 683
Re: Auction House Strategy
100% agree! Its annoying you have to limit yourself to one item bc of the bidding rules are insane. I got outbid at 3 am last night, I dont get too excited about auctions that last until some ungodly hour. Its fine though, the money I would have spent at last nights auction is going to go toward an auction that ends this week in a per lot way.
Ryan
NFL game used collector
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05-08-2016, 02:09 PM #27
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- Jan 2006
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05-08-2016, 02:33 PM #28
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- Sep 2012
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Re: Auction House Strategy
Ok
What's a reasonable hour, and whTs a better suggestion
Before someone says " lot by lot" I will tell you that in a large 1500 lot auction that is ruled OUT
2 reasons
1 majority of my Consignors do not want it
2 I have some people that bid on over 50! Lots, some over 100 lots
I have had people win 50+ lots on same auction
It is mathematically impossible for them to keep up with bids if lot by lot
However, I am looking for positive suggestions
Each of the last three auctions I have closed earlier, even if marginally so.
In the babe Ruth auction a smaller one I. Put a 1 am mandatory close on
I am open to suggestions...
Fire away
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05-08-2016, 04:23 PM #29
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- Jan 2006
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05-08-2016, 08:41 PM #30
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- Mar 2015
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- 264
Re: Auction House Strategy
Ken,
If 15 minutes isn't enough time for your big time bidders, then what about 30 minutes? 30 minutes should be plenty of time to go through their 50+ bids to make sure they are still top bidders using your 'my account' page.
As far as your consignors, I would think they would be more interested in people getting into bidding wars earlier in the evening rather than somebody sniping at the last minute forcing a potential bidder to miss out because it's 4:30 in the morning and that bidder is fast asleep.
Just my 2 cents.