As a bidder, I can't stand the "Lot by Lot" closing method. If you are in on multiple items, and get outbid late on your first choices, there is no ability to return to an alternative lot (because it has already closed separately). It's actually infuriating, and I think most of us who have a limited budget can relate...
As a consignor, I hate "Lot by Lot" even more, because I KNOW money was left on the table (for the same reason as stated above).
So I think REA's closing format is better, while still perhaps flawed given the hard close at midnight. I think they're leaving some money on the table, but it's far better than the Lot by Lot method. True, people will complain regardless of the closing method.... But I think LOTG really does it best. Their method feels like the best balance between the Consignor and Bidder (who wants to get at least some sleep).
As for last night…
A great auction on the memorabilia side especially. Really strong prices across the board. I felt fortunate to barely squeak out one win.
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