Posted By:
SteveYou know that I respect you totally as one of the most knowledgable collectors but on this, I really have to disagree with you.
The amount of money is extremely small and the effect of this has been to make the auction end about an hr to an hr and a half early and more importantly, almost 99% of the lots were closed by 1:30 AM EST. In other words, the extra buyers premium factored into a VERY small number of lots and bidders. If I was looking to make this a profit engine, I would simply raise the buyers premium for the entire auction and then I would likely create ALOT more money but my goal in this case is to end the auction earlier for two basic reasons, not in any order: (1) It is getting really tiresome having auctions go as late as 5 AM, which they have, (2) It is almost always the same small group of people that keep the auction going back 130 AM and (3) I feel lots will get the highest price in a competitive bidding environment, not one in which the underbidder/potential bidder has been asleep for 2 - 4 hours... - Steve
PS Jay, if you ever bid on a lot after 1:30 AM EST, I will donate the late night bidding supplement on it to a charity of your choice!