How long for an auction is too long?

[Snapolit1]

Is it really necessary for a major auction to be open for a month? Or even three weeks? I am sure they get nearly 50% of their bids within a day of going online, a small bump when catalogs are received . . . and then crickets until the night its going to end. Once you put a marker down to hold a spot at the dance then its just wait for weeks.

[Peter_Spaeth]

You never know when a major bidder is going to be off the grid in Bali or trekking in the Himalayas.

[keithsky]

Yeah I could never figure out why auction companies run auctions for a month even three weeks is too long with social media and emails and everything anymore there's all kinds of ways for the auction companies to let you know the auctions are running and when they end. It almost is a negative when they run it for a month because you end up forgetting about in between the first week they put it on and the last week it runs. I wish they would all run them for at least two weeks at the most. I see absolutely no reason to drag it out for a month. Nobody benefits and the consignor wants to sell his item and get his money as son as he can. I personally stay away from an auction that runs a month because by the time you initially send your item in till the time you get paid it's almost 3 months

[Bocabirdman]

Originally Posted by Peter_Spaeth

You never know when a major bidder is going to be off the grid in Bali or trekking in the Himalayas.

...or some uncertain cash flow....flows

[BeanTown]

On a two week auction, I would think on average the bidding would go like this.

Day 1 25%
Day 2-13 50%
Last Day 25%

[frankbmd]

Originally Posted by Peter_Spaeth

You never know when a major bidder is going to be off the grid in Bali or trekking in the Himalayas.

Did you take your Sherpa to Bali with you instead of tipping him?

[Peter_Spaeth]

Originally Posted by frankbmd

Did you take your Sherpa to Bali with you instead of tipping him?

In college I had the good fortune to meet a Sherpa who had ascended Everest several times. My buddy and I hung out with him for a couple of days in Ann Arbor, he had come to promote a trekking venture. Nicest guy you could hope to meet, very slight build, you never would have known he was capable of what surely is a staggering athletic feat.

[mechanicalman]

Originally Posted by Peter_Spaeth

In college I had the good fortune to meet a Sherpa who had ascended Everest several times. My buddy and I hung out with him for a couple of days in Ann Arbor, he had come to promote a trekking venture. Nicest guy you could hope to meet, very slight build, you never would have known he was capable of what surely is a staggering athletic feat.

Was Ashley's known as the Sherpa bar in A2, or was that Dominick's? 😉
I miss that town. Go Blue!

[Dewey]

You started a thread recently about RMY ending too early and "leaving money on the table." Now this thread seems to be about not ending fast enough. Pick one.

Originally Posted by Snapolit1

Is it really necessary for a major auction to be open for a month? Or even three weeks? I am sure they get nearly 50% of their bids within a day of going online, a small bump when catalogs are received . . . and then crickets until the night its going to end. Once you put a marker down to hold a spot at the dance then its just wait for weeks.

[clydepepper]

Originally Posted by frankbmd

Did you take your Sherpa to Bali with you instead of tipping him?

I keep my Sharpie and my Ball-Point tips covered when not in use.

- just thought I would make a meaningful contribution to the discussion.

[Peter_Spaeth]

Raymond -- there is a fairly recent Supreme Court opinion (2008) that essentially held that the bolded language in your signature did not qualify the broad right to bear arms.

[slidekellyslide]

Give bidders a month and they have time to sell off stuff in order to afford the stuff they want.

[BBB]

Originally Posted by BeanTown

On a two week auction, I would think on average the bidding would go like this.



Day 1 25%

Day 2-13 50%

Last Day 25%

This comment is what I've been wondering about for awhile now. I have some lots in REA, so have been trying to guess on my own how much higher they'll go. If volume of traffic is correlated to rise in price to some degree, then perhaps there's about 33% more growth the current REA prices as they stand. I'd rather see 50% as some of my stuff is still low, but I'll take anything over current prices....And yes - I'm counting my money while still sitting st the table haha. This is the first auction where I've been a seller and not a buyer so kind of excited .


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[Bocabirdman]

Originally Posted by Peter_Spaeth

Raymond -- there is a fairly recent Supreme Court opinion (2008) that essentially held that the bolded language in your signature did not qualify the broad right to bear arms.

A Broad with Bear Arms generally doesn't need any other weapon.

[gnaz01]

Originally Posted by slidekellyslide

Give bidders a month and they have time to sell off stuff in order to afford the stuff they want.

+1

[Leon]

To me a month seems a bit long.

[Billy5858]

I bid on a couple Hindus...... 30 days later I got emailed that I won...totally forgot....... I "swept" clean