15 min rule ridiculous

[JoeyFarino]

Why dont all these major auction houses follow what heritage does regarding the 15 min rule. Its ridiculous that you have to wait for EVERYONE to stop bidding all at once for the whole auction to end. Who's really going to stay up until 3-4a.m to bid.

[keithsky]

I think its about running the auction as long as they can to make more money. If a lot ends individually there's no more money to be made on that lot. I think it is stupid idea running all lots till the end it should end each individual lot. just my opinion.

[perezfan]

Most consignors would disagree. I far prefer consigning to the Auctions who do NOT close lots individually. You have to see it from both sides, and realize that consignments are the "bread and butter" of these auction houses.

[JoeyFarino]

Originally Posted by perezfan

Most consignors would disagree. I far prefer consigning to the Auctions who do NOT close lots individually. You have to see it from both sides, and realize that consignments are the "bread and butter" of these auction houses.

I see what youre saying and i think its only to benefit the seller. Alot of people cant stay up until 4 a.m to make sure their bid is the highest. I feel if no one is bidding on a individual lot for more than 15 mins then it should be ended due to inactivity. I can understand as a consigner you wouldnt want that. Its just very frustrating having to spend your entire night into the morning if you really want a item to make sure youre not outbid

[travrosty]

Originally Posted by JoeyFarino

I see what youre saying and i think its only to benefit the seller. Alot of people cant stay up until 4 a.m to make sure their bid is the highest. I feel if no one is bidding on a individual lot for more than 15 mins then it should be ended due to inactivity. I can understand as a consigner you wouldnt want that. Its just very frustrating having to spend your entire night into the morning if you really want a item to make sure youre not outbid

you dont have to, just put in your max bid, a REAL max bid, a bid that if someone asked for one penny more, you just wouldnt do it, you wouldnt pay a penny more if someone twisted your arm to the point of breaking it. put in that max bid, and go to bed, you will either win the item or you won't, but you won't have regrets either and you can go to sleep.

[JoeyFarino]

Originally Posted by travrosty

you dont have to, just put in your max bid, a REAL max bid, a bid that if someone asked for one penny more, you just wouldnt do it, you wouldnt pay a penny more if someone twisted your arm to the point of breaking it. put in that max bid, and go to bed, you will either win the item or you won't, but you won't have regrets either and you can go to sleep.

Ya i guess thats one way. But personally i think its a bad idea but it is what it is

[djson1]

Originally Posted by travrosty

you dont have to, just put in your max bid, a REAL max bid, a bid that if someone asked for one penny more, you just wouldnt do it, you wouldnt pay a penny more if someone twisted your arm to the point of breaking it. put in that max bid, and go to bed, you will either win the item or you won't, but you won't have regrets either and you can go to sleep.

I personally don't like putting in max bids as I don't trust some auction houses. They know your max bid and can play with it any way they want. Maybe most auction houses are ethical about this, but I'm sure there are many that don't play fair.

[slidekellyslide]

Originally Posted by JoeyFarino

I see what youre saying and i think its only to benefit the seller. Alot of people cant stay up until 4 a.m to make sure their bid is the highest. I feel if no one is bidding on a individual lot for more than 15 mins then it should be ended due to inactivity. I can understand as a consigner you wouldnt want that. Its just very frustrating having to spend your entire night into the morning if you really want a item to make sure youre not outbid

Don't you live in the state of Washington? You have a two hour advantage over me and a 3 hour advantage over the East Coast collectors.

[JoeyFarino]

Originally Posted by slidekellyslide

Don't you live in the state of Washington? You have a two hour advantage over me and a 3 hour advantage over the East Coast collectors.

Lol...ya but man i was up till like 1 a.m. I was trying to knock out which is a luxury lately being a new father. I feel for you eastcoast people more.

[kevlewis]

Originally Posted by JoeyFarino

Why dont all these major auction houses follow what heritage does regarding the 15 min rule. Its ridiculous that you have to wait for EVERYONE to stop bidding all at once for the whole auction to end. Who's really going to stay up until 3-4a.m to bid.

Yeah I hear you on that. I prefer myself to the auction houses that end the individual item after a 15-30 timer where knowone has placed a bid. You should be bidding against other on a lot not against the whole auction. I have had experiences where an auction went into the extended bidding around 7pm and my bid sits untouched for 8 or 9 hours then getting outbid when I fall asleep. I know people that drop the first day min bid on 30 to 40 items. They get outbid on every one since these are the cheap day 1 bids then they wait until the Extended Period and start bidding at 3 to 4 am when people aren't awake to battle them. Man I got to the point where I just stay up now throughout the whole auction and Im in Central time zone. Hahaha...

The thing that drive me nuts is when a auction house says that they are closing the auction at a certain time then decide to change that the minute before closing and they keep extending the time for a few more hours. But I guess at the end of the day if you dont like a auction house's practices its time to move on to the others. There is too many places to buy from!

[JoeyFarino]

Originally Posted by kevlewis

Yeah I hear you on that. I prefer myself to the auction houses that end the individual item after a 15-30 timer where knowone has placed a bid. You should be bidding against other on a lot not against the whole auction. I have had experiences where an auction went into the extended bidding around 7pm and my bid sits untouched for 8 or 9 hours then getting outbid when I fall asleep. I know people that drop the first day min bid on 30 to 40 items. They get outbid on every one since these are the cheap day 1 bids then they wait until the Extended Period and start bidding at 3 to 4 am when people aren't awake to battle them. Man I got to the point where I just stay up now throughout the whole auction and Im in Central time zone. Hahaha...

The thing that drive me nuts is when a auction house says that they are closing the auction at a certain time then decide to change that the minute before closing and they keep extending the time for a few more hours. But I guess at the end of the day if you dont like a auction house's practices its time to move on to the others. There is too many places to buy from!

Damn bro i shouldve had you write this post for me...lol

[Runscott]

I don't think some understand the concept of reallocating funds when items you were bidding on get too high.

[Leon]

I always have limited funds and always re-allocate in a personal priority fashion. For me as a collector it is getting things which are the scarcest first....and everything else after that. For me as a flipper/dealer then it's the value of the lot vs what I have to pay which is most important.
There is absolutely no perfect way to end an auction. For every person that couldn't circle back because a lot closed (individual closing) there was someone who stayed awake and would have gone to sleep (whole auction closing at once) otherwise.

Originally Posted by Runscott

I don't think some understand the concept of reallocating funds when items you were bidding on get too high.

[sporteq]

This isn't a big issue.. I've had plenty of all nighters. If it's an item I want real bad.. I'm staying up, no matter what! I feel it's an advantage to me, bcuz most ppl won't stay up. I feel the newer (Last 10 years) ppl getting into this hobby it's an issue. The later the auction goes.. the better, Its just thinning out the heard. IMHO

[Runscott]

please forgive the interruption.