In my opinion it is an extremely poor way for an auction to end. With Heritage ending Thursday night, Lelands Friday, and Goldin Saturday, and all having lot by lot closings, you at least have time to decide whether you want to pay more so the guy willing to pay the most gets the item. For me, REA is more of a crapshoot because you can easily get sniped at the end. In last night’s case I wanted one very expensive item pretty badly so I concentrated on that rather than also trying for the other lots I wanted. I ended up getting it but if it was a lot by lot closing I would have likely won more. And the answer of just putting in my highest ceiling bid on each lot doesn’t really work for me because I can change my mind from minute to minute. I know there’s an argument that this way is better but I don’t understand how any closing method which doesn’t get the highest prices is in any way good for the consignor, let alone the bidders.
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Originally Posted by RedsFan1941
that’s not what the post said. rea auctions have always closed all the lots at once. the hard close is hardly new. i think this was the third or fourth REA auction that used it. not a big deal, especially in a hobby where facts often are considered irrelevant.
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