Quote:
Originally Posted by Peter_Spaeth
Auctions are in business to maximize values for consignors and fees for themselves. Bidders may bitch about the format, the potential for shilling, and so forth, but if the stuff is out there they will bid. I very much doubt anyone is going to move to a hard close. Might as well tilt against a windmill IMO.
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Are you speaking in general term of sports cards and memorabilia auctions?
I know the largest live and in person online and TV automobile auction houses without naming them have hammer prices that are final bid just for comparison. I go to multiple local auction houses that have hard close hammer prices. I know there's house bidders as well. I would say they're timed in the sense of going going gone. You know the time is up. Ebay is an auction house with different types of endings, but all are known. If you're bidding IMO that's an auction.