Considering a $1 - BST Live Auctions - Rule Change

[Leon]

The recent Front Page Auction of the Exhibit Cobb, by Tim (hi Tim), got me to thinking that is probably a better way to do them. So, I thought I would see what ya'll think aboujt a rule change? This change will be for the $1 Live Auction section in the BST area.

To those that don't know, there is a small section for Live Auctions, which start at $1, in the BST area.


The Rules Would Go-

From-

1. Auctions end Sunday at 8pm CST, a bid at 8:01pm CST is not good.
1b. A tie goes to the first bid.

2. Starting bids on all auctions $1.



To:

"Auction rules: Opening bid is $1. **Bid increments are $1. Bidding ends Sundays, 8PM CST. Bid at 8:00 is good, bid at 9:01 no good.

*To prevent snipe bids, a bid that occurs in the last five minutes of the auction will add 5 minutes to the auction. So, a bid at 8:58 will extend the auction to 9:03. A bid at 9:01 will extend the auction to 9:06. Etc. This will continue until the 5 minute window expires with no new bids."

I am thinking about adding another line that says

"**Bid increments after 8pm CST must be in $5 increments."
Otherwise, someone can keep bumping $1 for quite a while, but maybe not?


Thanks for reading!


and a card...(that won't be over there)

[robw1959]

Personally, I prefer the simplicity of the existing format, and don't care for those types of auctions as much. It would probably be a lot harder to monitor all of that post-cutoff bidding activity anyway just to be sure the bids are legit.

[Mark17]

Originally Posted by robw1959

Personally, I prefer the simplicity of the existing format, and don't care for those types of auctions as much. It would probably be a lot harder to monitor all of that post-cutoff bidding activity anyway just to be sure the bids are legit.

Disagree. Everyone here can calculate if a bid placed is within 5 minutes of the previous one.

I like the new rule change. It makes the auction be an auction, not a contest to see who the best sniper is.

[Leon]

Originally Posted by Mark17

Disagree. Everyone here can calculate if a bid placed is within 5 minutes of the previous one.

I like the new rule change. It makes the auction be an auction, not a contest to see who the best sniper is.

It is far from finalized. This is an exploratory thread.

If, and when, there are more front page auctions, I suspect the way Tim did his will be the way most are done.
.

[bnorth]

Originally Posted by robw1959

Personally, I prefer the simplicity of the existing format, and don't care for those types of auctions as much. It would probably be a lot harder to monitor all of that post-cutoff bidding activity anyway just to be sure the bids are legit.

+1 Not a fan of extended auctions.

[BobbyStrawberry]

Originally Posted by robw1959

Personally, I prefer the simplicity of the existing format, and don't care for those types of auctions as much. It would probably be a lot harder to monitor all of that post-cutoff bidding activity anyway just to be sure the bids are legit.

I agree with this.

[pawpawdiv9]

keep it simple.
Everyone knows the time it ends.
Sniping happens.
If you dont like it, then bid higher to deter other bids.

[Bigdaddy]

Just some quibble with wording -

Change - "Auction rules: Opening bid is $1. **Bid increments are $1. Bidding ends Sundays, 8PM CST. Bid at 8:00 is good, bid at 9:01 no good."

To - "Auction rules: Opening bid is $1. **Minimum bid increments are $1. Bidding ends Sundays, 8PM CST. Bid at 8:00 is good, bid at 8:01 no good."

Changes in red.

And personally, I like a set time for the auction to end.

[Rrrlyons]

If that section was used for higher priced items that change might be needed or helpful but since it’s being used for stuff that mainly goes for $5 or less not a lot of sniping going on anyway.
Saying that to say I don’t think any change is needed.
Rick