Memory Lane

[Peter_Spaeth]

If it isn't REA, this Board doesn't seem to care.

[Leon]

Originally Posted by Peter_Spaeth

If it isn't REA, this Board doesn't seem to care.

I am biased and mainly concentrate on doing business with companies that advertise here. There are so many it is easy to do. I still buy elsewhere but would rather support those who support the forum.

[Snapolit1]

Criticize PWCC all you want, but they don't engage in this stupidity. Auctions close during normal hours.

[Peter_Spaeth]

Originally Posted by Snapolit1

Criticize PWCC all you want, but they don't engage in this stupidity. Auctions close during normal hours.

If you're willing to leave auto-bids, or snipes in the case of ebay, closing time is pretty much meaningless.

[oldjudge]

And it adds discipline to the bidding process

[RCMcKenzie]

The 1959 Topps #464 Mays catch went for $33,989. There's one in PSA 8 for $130 BIN on ebay. I have one in about vg/e that I probably paid 50 cents for 40 years ago.
I liked that T205 Goode SGC 7, but I didn't want to pay $750 for it, when I can get a psa 4 for $39.
The e107 LaChance was at $1,100 when I went to sleep and it closed at around $15,000, so the late bidding helped that consignor.
I picked up a 1952 Topps Spahn in an SGC 8 holder for what I thought was a good price, but it's hard to know what to pay for stuff that you want these days. Rob

[Bicem]

What's with some of the crazy e107 "common players" prices here and in REA? Multiple people building sets?

[Peter_Spaeth]

Originally Posted by RCMcKenzie

The 1959 Topps #464 Mays catch went for $33,989. There's one in PSA 8 for $130 BIN on ebay. I have one in about vg/e that I probably paid 50 cents for 40 years ago.
I liked that T205 Goode SGC 7, but I didn't want to pay $750 for it, when I can get a psa 4 for $39.
The e107 LaChance was at $1,100 when I went to sleep and it closed at around $15,000, so the late bidding helped that consignor.
I picked up a 1952 Topps Spahn in an SGC 8 holder for what I thought was a good price, but it's hard to know what to pay for stuff that you want these days. Rob

Great price IMO. SGC is dead. A PSA 8 53T went for twice that.

[benjulmag]

Originally Posted by Peter_Spaeth

If you're willing to leave auto-bids, or snipes in the case of ebay, closing time is pretty much meaningless.

Some people are not comfortable leaving auto-bids. Also, auto or snipe bids do not help when a person truly doesn't know how high he/she is willing to bid until faced with losing the lot. That has happened with me. I believe being human there is a subconscious aspect to deciding how high to bid, and sometimes when we set a level we do it believing we will not be topped. Then when we unexpectantly are, we (to our surprise) bid higher.

I have no more desire than the other guy to stay up to some crazy hour waiting for an auction to close. But there have been times when topped on my key lot at the last minute and not having the means or desire to go higher that I shifted course and placed bids on other lots. I would not have been able to do that had those lots closed, and the consignor would not have received maximum price for his/her items.

Some auction houses (e.g., REA, RMY) have adopted a hybrid system. Start extended bidding earlier and have a sharp cutoff at some designated hour (usually around midnight) at which point the entire auction closes. This method in my view is a good compromise but still allows for last minute snipping.

I've wondered why no auction house has yet to try the following closing method, unless the software doesn't exist -- as the hour gets later and later to either in stages or in one step to reduce the interval after which if no bid is placed the auction closes. So say at 11 PM the interval reduces to 3 minutes, and at midnight it reduces to one minute. My guess is the auction will close fairly quickly once this happens, but it will allow all bidders full opportunity to retain all bidding options until the auction ends.

Like everything else, this method is not perfect, but maybe it will turn out to be the best of imperfect choices.

[Stampsfan]

Originally Posted by benjulmag

I've wondered why no auction house has yet to try the following closing method, unless the software doesn't exist -- as the hour gets later and later to either in stages or in one step to reduce the interval after which if no bid is placed the auction closes. So say at 11 PM the interval reduces to 3 minutes, and at midnight it reduces to one minute. My guess is the auction will close fairly quickly once this happens, but it will allow all bidders full opportunity to retain all bidding options until the auction ends.

This would be a relatively simple upgrade to make to any well coded piece of software.

[Peter_Spaeth]

Originally Posted by benjulmag

Some people are not comfortable leaving auto-bids. Also, auto or snipe bids do not help when a person truly doesn't know how high he/she is willing to bid until faced with losing the lot. That has happened with me. I believe being human there is a subconscious aspect to deciding how high bid, and sometimes when we set a level we do it believing we will not be topped. Then when we unexpectantly are, we (to our surprise) bid higher.

I have no more desire than the other guy to stay up to some crazy hour waiting for an auction to close. But there have been times when topped on my key lot at the last minute and not having the means or desire to go higher that I shifted course and placed bids on other lots. I would not have been able to do that had those lots closed, and the consignor would not have received maximum price for his/her items.

Some auction houses (e.g., REA, RMY) have adopted a hybrid system. Start extended bidding earlier and have a sharp cutoff at some designated hour (usually around midnight) at which point the entire auction closes. This method in my view is a good compromise but still allows for last minute snipping.

I've wondered why no auction house has yet to try the following closing method, unless the software doesn't exist -- as the hour gets later and later to either in stages or in one step to reduce the interval after which if no bid is placed the auction closes. So say at 11 PM the interval reduces to 3 minutes, and at midnight it reduces to one minute. My guess is the auction will close fairly quickly once this happens, but it will allow all bidders full opportunity to retain all bidding options until the auction ends.

Like everything else, this method is not perfect, but maybe it will turn out to be the best of imperfect choices.

Understood, but as to auto bids, man if any of the major AHs have the cojones to be running people up after guys have gone to jail I would certainly be surprised. I'm not bidding on hugely expensive lots but I'm comfortable leaving them. Maybe that's naïve.