[Archive]

Posted By: SC

Having a decreasing time per lot as the night wears on? I.e.

Extended bidding is after 6PM.

Lots are open until 7PM. If no bids, the lot closes. Each bid extended the lot by 30 minutes.

After 9PM, the clock resets to 15 minutes.

After 11PM, 10 minutes.

After Midnight, 5 minutes.

Hopefully as the night goes on, the # of interested lots a bidder wants will be reduced.

My experience, as both a seller & buyer, is a good auction forces action & decision.

You really have to look at the auction company's responsibilities:

To Sellers/Consignors - Maximize the net proceeds of the consignment, through proper marketing and format. On the service end, provide feedback and timely remittance of auction proceeds.

To Buyers/Bidders - Accurately present the material, to allow maximum confidence in bidding. Create an ease of process, from bidding, to payment, to shipment/delivery.

EVERYTHING the auction does is to maximize revenue - the end bidding process should do the same.