Quote:
Originally Posted by JustinD
Couple thoughts-
A. Love the same day end times as easier way to organize.
B. Completely hate extended bidding, and I can’t underline it enough. It’s a PITA to track and for those thinking you will make more, logic says no. Unless a completely new system with a minimum bid amount is created jumping by a set bid amount. Last minute max snipes will far exceed an hour of one dollar increments. If the auction ends at 9 pm and 3 people bid their max at 8:59, the highest max wins and that is the sell price. Far more likely to net sellers more in the long run then little minimum stepped bids.
C. I think all auctions should not end at the same time as it discourages bidding on multiple auctions. There should be a 5 minute gap between auction closings. You may think that extended bidding would help this, no that is not the concern, just another possibility. It has more to do with buyer budgeting. When you know your wins as they complete, you know if it is within a budget to go on. How many of you have dropped out of extended bidding in a traditional auction to know you have the resources to compete on a different lot? I rest my case.
D. Two categories works for me. I am okay with the cliche 1980 date, but I like the mentioned 1970 much better.
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You’re wrong on B…extended bidding. I’ve seen it many times already. Since you can’t enter a max bid, the snipe is just $1 higher. So nobody bids for three days on a nice T206, and it goes to the last day with a bid of $15 or something like that, because what’s the point of bidding higher. Then in the last minute, three guys will bid $16, and the first one wins. If there was extended bidding, it would go for twice that, most likely. You can’t have sniping without having max bids.