Quote:
Originally Posted by sflayank
thats 100 incorrect..no sour grapes here
i received email at 413 am saying i was outbid and the auction closed according to net54 post at 413 am
so they didnt want to sell at that price
ill bet every card i own that that lot went to a friend of the auction house..i just happened to get outbid at the second it closed? so if that person would have waited 1 minute longer i would have won it?
i dont think so...i was willing to pay $8500 + the buyers and it went for 4500 + the buyers
so who got screwed... i would say the consignor
i would also be willing to bet that this item appears in another auction house within 1 year...that prediction has come true so many times its laughable....if u ask y i didnt put in 8500 when i went to sleep...because unquestionably i would have woke up and won it for 8500 because of shill bidding...thats why allowing bids past the increment should be outlawed
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The auction went well past 4:13 AM. I was outbid on an item around 4:30. My initial post occurred while other lots were still going. I won mine early, because there were no competing bidders. Per Lelands' rules, if there is only one bidder at the time of the initial closing, the lot is closed.
I believe that the auction closed to ALL lots around 4:45 EDT. I also believe that whoever outbid you was not a shill bid, but a calculated bid from a real person who wanted the item as much as you did.
If Lelands' format was the same as Huggins & Scott's, that other bidder simply would have bid within the earlier parameters. You would have been outbid regardless. Perhaps you would have had more time to counter-bid, but the price would have been driven up either way.
With regard to ceiling bids... I have won many items with Lelands for less than my top bid. But I do understand people's hesitance to leave a ceiling bid, given the corruption and some of the shady people within this hobby.
Neither format is perfect... I have been frustrated many times by the Legendary/H & S system, where I am outbid and cannot jump to another lot (because it has closed). In my case alone, this has cost consignors thousands of dollars. I can't even imagine how much money has been left on the table, given the wider scope.