REA is open

[oldjudge]

Finally some good news in the hobby—REA is open. Amazing auction, especially the 19th century selection.

[calvindog]

Originally Posted by oldjudge

Finally some good news in the hobby—REA is open. Amazing auction, especially the 19th century selection.

Agree, the 19th century stuff is off the charts.

[pokerplyr80]

The 20th century stuff isn't bad either. I've got a few early bids in, and a couple of outbid notices already. Should be a fun one.

[Peter_Spaeth]

I think I counted 20 Red Cobbs.

[x2drich2000]

I know I'm probably going to get blasted for this, but with a few exceptions (those yum yums ), I think the auction overall is actually quite weak by REA standards. Just feels to me like the auction doesn't have that WOW factor I expect from REA.

[asphaltman]

Originally Posted by x2drich2000

I know I'm probably going to get blasted for this, but with a few exceptions (those yum yums ), I think the auction overall is actually quite weak by REA standards. Just feels to me like the auction doesn't have that WOW factor I expect from REA.

When they went to two auctions a year, makes it hard to be stellar...although for the most part they've still done that.

[RCMcKenzie]

It looks like they have a Spring, Summer, and Fall now. I could probably find a few lots to bid on, maybe not win. Still fun.

[kateighty]

Originally Posted by calvindog

Agree, the 19th century stuff is off the charts.

Of course you do. Just sayin! What happened to your bro Steven? Surely he has an opinion on REA?

[pawpawdiv9]

Alright final attempt. Placed stronger max bids. Let this end early, so i can sleep!!!!!

[oldjudge]

Originally Posted by kateighty

Of course you do. Just sayin! What happened to your bro Steven? Surely he has an opinion on REA?

What does this even mean and why are you trying to stir something up in a peaceful thread?

[chriskim]

I am already done last wk after factoring in the new sales tax, everything becomes "overpriced".

[perezfan]

I hear you...

[perezfan]

Similar situation here...

The new 10% WA sales tax makes it tough to compete. And the fact that everything I like seems to have big ceiling bids already in place does not help much either.

[insidethewrapper]

I say Wow ! A lot of 19th Century and over 100 Cobb items !!! Does anyone have any money left after all these auctions ?

[Rhotchkiss]

Originally Posted by oldjudge

Finally some good news in the hobby—REA is open. Amazing auction, especially the 19th century selection.

Jay, you must be in hog heaven!

[oldjudge]

I need to start selling bodily fluids.

[bounce]

I agree that the high end WOW factor isn't on par with previous auctions, but the breadth and selection of nice looking mid-grade cards is very strong.

And yes, there were a TON of Red Cobbs!

[BeanTown]

I call dibs on one Ty Cobb card!

[sycks22]

15 Green Cobb's and 20 48 Leaf Robinson's. Fun to see. Amazing stuff.

[calvindog]

Originally Posted by oldjudge

Finally some good news in the hobby—REA is open. Amazing auction, especially the 19th century selection.

I’m happy Jay consigned.

[oldjudge]

Originally Posted by calvindog

I’m happy Jay consigned.

Hey Jeff! I hope you picked up some nice items.

As for closing method, my favorite is a live auction format. Start with Lot 1, fight it out, move on to Lot 2. Every on line closing method has issues. If I were running an auction house I would use a variation of LOTG’s closing. All lots with no bids in the last half hour close at 11PM EDT. All remaining lots close individually with a 5 minute rule. This eliminates the traffic jam at the end and has virtually everyone to bed by midnight.

[CuriousGeorge]

And that’s how big auction houses like Sotheby’s and Christie’s do it. One by one and on the Internet you can tunnel in to the room where the auction is being held and bid live.

I’m still struggling with understanding why closing the items all at once helps someone on a limited budget. It seems as if you run the same good or bad luck depending on when you get outbid on the item as you’re screwed if you get outbid right at the end and have nowhere to turn if they close all at once. Perhaps I’m missing something.

Originally Posted by oldjudge

Hey Jeff! I hope you picked up some nice items.

As for closing method, my favorite is a live auction format. Start with Lot 1, fight it out, move on to Lot 2. Every on line closing method has issues. If I were running an auction house I would use a variation of LOTG’s closing. All lots with no bids in the last half hour close at 11PM EDT. All remaining lots close individually with a 5 minute rule. This eliminates the traffic jam at the end and has virtually everyone to bed by midnight.

[benjulmag]

Originally Posted by CuriousGeorge

I’m still struggling with understanding why closing the items all at once helps someone on a limited budget. It seems as if you run the same good or bad luck depending on when you get outbid on the item as you’re screwed if you get outbid right at the end and have nowhere to turn if they close all at once. Perhaps I’m missing something.

Here's how (and this what actually happened). I have a budget of X. There are 7 lots I have qualifying bids in on. One of them is literally a unique item which perfectly fits my collection and, by definition, being unique this is my one shot to get it. So I save my entire budget of X for that item. At 3:45 AM I got outbid once again, and this time I was at my budget. So I went back to those other 6 lots that I had qualifying bids in on and THAT WERE STILL OPEN BECAUSE ALL THE LOTS CLOSED AT THE SAME TIME, and started bidding on them. I ended up winning I think 4 of them, none of which I would have won had they had individual closing times.

Had the extended bidding period begun at an early enough hour and the bidding interval as midnight approached been steadily reduced to one minute, this entire scenario would have played out hours earlier.

[CuriousGeorge]

But Corey, you could have just as easily gotten outbid with 15 seconds to go before all of the lots ended and you would have gotten nothing. It just happened to be in your case that you were outbid with plenty of time to place other bids.

Originally Posted by benjulmag

Here's how (and this what actually happened). I have a budget of X. There are 7 lots I have qualifying bids in on. One of them is literally a unique item which perfectly fits my collection and, by definition, being unique this is my one shot to get it. So I save my entire budget of X for that item. At 3:45 AM I got outbid once again, and this time I was at my budget. So I went back to those other 6 lots that I had qualifying bids in on and THAT WERE STILL OPEN BECAUSE ALL THE LOTS CLOSED AT THE SAME TIME, and started bidding on them. I ended up winning I think 4 of them, none of which I would have won had they had individual closing times.

Had the extended bidding period begun at an early enough hour and the bidding interval as midnight approached been steadily reduced to one minute, this entire scenario would have played out hours earlier.

[rats60]

Originally Posted by benjulmag

Here's how (and this what actually happened). I have a budget of X. There are 7 lots I have qualifying bids in on. One of them is literally a unique item which perfectly fits my collection and, by definition, being unique this is my one shot to get it. So I save my entire budget of X for that item. At 3:45 AM I got outbid once again, and this time I was at my budget. So I went back to those other 6 lots that I had qualifying bids in on and THAT WERE STILL OPEN BECAUSE ALL THE LOTS CLOSED AT THE SAME TIME, and started bidding on them. I ended up winning I think 4 of them, none of which I would have won had they had individual closing times.

Had the extended bidding period begun at an early enough hour and the bidding interval as midnight approached been steadily reduced to one minute, this entire scenario would have played out hours earlier.

My experience is when the items close lot by lot, that most of the auctions close at the same time or close to it anyways. Generally you know that the lot is past your limit before OT and you can shift to other items and you get to bed at an earlier time.

I like your idea of 1 minute intervals. I would have like to seen all the items that got sniped, get reset at 1 minute giving those that got outbid at the last second a chance to respond. I won my 2nd item ever in REA last night because cards just aren't worth staying up all night to bid on, but if I got sniped, I would have been out of luck with money sitting in my pocket and I had backup items that I wouldn't be able to bid on because the whole auction closed. So, closing all items at once, at midnight or the wee hours of the morning, can still leave you missing out.