Goldin Auctions

[dariushou]

"Extended Bidding - After an auction for an item closes, the auction will then enter an extended bidding window of 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. Extended bidding is open for everyone and for every item at auction. Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. So get your bids in early!"

Who in god's name writes this crap. You would think that Goldin would be very specific on how the auction works in extended bidding. Does Auction mean the entire auction or a lot by lot basis? When I read the above paragraph from the Golding FAQs, I read it as the entire auction is extended each time a bid is placed in the extended bidding time. This sentence: "Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions." Especially when other references to "Auction" in that paragraph reference the entire auction and not a lot...

Why not say each lot will be extended, but only that lot if it gets a bid in extended bidding... I mean seriously. You can read "auction" in that paragraph many different ways, but it would seem to me most of the time it is referring to the entire auction. I really don't understand why auctionhouses are not more concise when discussing extended bidding and how the auction works. There are just too many holes in that paragraph. I should have asked before, yes, but why leave it up to consumers when a few words would make it crystal clear.

Yes, i'm writing this because i'm pissed because i missed out on almost every item i was bidding on because of the lack of specifics in that paragraph. Whoever consigned these cards to Goldin lost out big time because i was going to win a number of these auctions hands down.

Ticked off collector

[4815162342]

“2025 Winter Vintage Elite Auction

Extended Bidding FAQ

Lots that receive more than 1 bid before 09:00 PM on closing day will remain open for bidding for 30 additional minutes. The timer resets to 30 minutes with each new bid until the timer expires with no new bids.

NOTE: This only occurs if a higher bid is placed by another bidder. After 30 minutes of no new bids, the lot closes and a winner is declared.”

https://goldin.co/auction/2025-janua...n-previewsiwow

[dariushou]

I'm not even sure how you got to that page. IF you go to the FAQs at the bottom of the page, you get to the link below and it is exactly what i posted.

https://goldin.co/faq

But lets dissect the wording of your link which i can't find on the website other than using your link. How did you get to the page you reference. Your link has the text "preview" -- was this something sent out in January?

"Lots that receive more than 1 bid before 09:00 PM on closing day will remain open for bidding for 30 additional minutes. The timer resets to 30 minutes with each new bid until the timer expires with no new bids."

The first sentence references lots before 9pm. How about in extended bidding? The next sentence you could infer that you are still talking about the individual lot, but it doesn't reference lot or auction in that last sentence. Why not be concise? The FAQ i referenced was not clear at all. Much less clear than what you posted and most would go to the FAQ at the bottom of the page. Still not sure how you get to your page if you go to goldin.co

[Peter_Spaeth]

Does it not say anywhere specifically that the auction closes lot by lot? If not, that seems strange.

[4815162342]

Originally Posted by dariushou

I'm not even sure how you got to that page.

Home Page—>Auction Page—>Auction Details Page

[samosa4u]

Originally Posted by dariushou

Yes, i'm writing this because i'm pissed because i missed out on almost every item i was bidding on because of the lack of specifics in that paragraph. Whoever consigned these cards to Goldin lost out big time because i was going to win a number of these auctions hands down.

Sorry this happened. If you don't mind me asking, what were you bidding on ??

[Vintagedeputy]

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

[Aquarian Sports Cards]

Originally Posted by Vintagedeputy

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

It's meant to mimic a live auction in which a lot doesn't end until the bidding does. Unless you think that's BS live as well?

[Vintage Vern]

Originally Posted by Aquarian Sports Cards

It's meant to mimic a live auction in which a lot doesn't end until the bidding does. Unless you think that's BS live as well?

Then why not just have that? It's a bad business practice IMO. They want their cake and eat it too.

If you want a live auction, then have that. If you want an ending time, just have that. The hammer drops the same on both.

Ebay you have timed auctions, you have BIN, and you have reserves. I don't like reserves and auctions that start at a dollar. Start it at the reserve. I know I was hit with shill bids in one auction with a reserve. The same bidder drove up 20 or 30 cards that day. Didn't win any, just got them where they wanted them. I'm sure many others noticed, they just wanted the card and stayed silent like me.


IMO adding time to an auction that closes, has that same effect. Who's driving the car at the other end? If you can't win on a timed auction, then you don't deserve overtime. I know plants are in auctions of every kind, and have witnessed it in multiple formats, both online and live.

This post isn't in any way about singling out Golden, but a general observation.

[Peter_Spaeth]

Auctions are in business to maximize values for consignors and fees for themselves. Bidders may bitch about the format, the potential for shilling, and so forth, but if the stuff is out there they will bid. I very much doubt anyone is going to move to a hard close. Might as well tilt against a windmill IMO.

[mrreality68]

Every auctions have what they think works for them and their customer base.

Their are auctions that never seem to end, auctions with extended time and then double secret extended time and some end as a total auction and others lot by lot.

Be nice if there is one way but reality there is not.

I just make sure I review the auction in front of me so I can plan accordingly.

[Aquarian Sports Cards]

Originally Posted by Vintage Vern

Then why not just have that? It's a bad business practice IMO. They want their cake and eat it too.

If you want a live auction, then have that. If you want an ending time, just have that. The hammer drops the same on both.

Ebay you have timed auctions, you have BIN, and you have reserves. I don't like reserves and auctions that start at a dollar. Start it at the reserve. I know I was hit with shill bids in one auction with a reserve. The same bidder drove up 20 or 30 cards that day. Didn't win any, just got them where they wanted them. I'm sure many others noticed, they just wanted the card and stayed silent like me.


IMO adding time to an auction that closes, has that same effect. Who's driving the car at the other end? If you can't win on a timed auction, then you don't deserve overtime. I know plants are in auctions of every kind, and have witnessed it in multiple formats, both online and live.

auction
1 of 2
noun
auc·​tion ˈȯk-shən
Synonyms of auction
1
: a sale of property to the highest bidder


Basically time doesn't enter into it. I would argue what Ebay does is NOT a true auction.

[BobbyStrawberry]

Originally Posted by Vintagedeputy

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

Originally Posted by Aquarian Sports Cards

It's meant to mimic a live auction in which a lot doesn't end until the bidding does. Unless you think that's BS live as well?

What's BS about it IMO is that the extension time is so long. Imagine in a live, in-person auction:

"$1500 going once, going twice..."
"$1,600."

Then everyone sits there for 30 minutes until it's "going once, going twice" again.

Lol

[Aquarian Sports Cards]

Originally Posted by BobbyStrawberry

What's BS about it IMO is that the extension time is so long. Imagine in a live, in-person auction:

"$1500 going once, going twice..."
"$1,600."

Then everyone sits there for 30 minutes until it's "going once, going twice" again.

Lol

I completely get that.

[jayshum]

Originally Posted by BobbyStrawberry

What's BS about it IMO is that the extension time is so long. Imagine in a live, in-person auction:

"$1500 going once, going twice..."
"$1,600."

Then everyone sits there for 30 minutes until it's "going once, going twice" again.

Lol

Obviously, that doesn't happen in a live auction because there's just one lot at a time being bid on. In an online auction where there are sometimes several thousand lots all with bidding available, someone may be trying to monitor 50-100 lots (or more) that they're interested in so some amount of time is needed to make that possible. 30 minutes may seem too long, but it all depends on how many lots someone is interested in.

[SyrNy1960]

Originally Posted by vintagedeputy

any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

+ 100

[jayshum]

Originally Posted by Vintagedeputy

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

Other than eBay, are there any online auctions that end at a specific time with no extended bidding?

[Vintagedeputy]

Originally Posted by jayshum

Other than eBay, are there any online auctions that end at a specific time with no extended bidding?

Yes, there are. And no, I won’t tell you what they are because I don’t need the additional competition 😂

[jayshum]

Originally Posted by Vintagedeputy

Yes, there are. And no, I won’t tell you what they are because I don’t need the additional competition 😂

If that makes you happy, good for you.

[samosa4u]

Originally Posted by Vintagedeputy

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

I hate eBay's auction format. People use softwares and outbid you at the last second. What Goldin does prevents that from happening - good !! You want the same card as I do ?? Let's go to war, baby !! And even if I lose, I will still feel good about it in the end cause' I'll know that I didn't go down without a fight.

The only thing Goldin should change is this: if somebody places a bid during extended time, then five minutes should be added to the clock (not thirty !!)

[Vintagedeputy]

Originally Posted by samosa4u

I hate eBay's auction format. People use softwares and outbid you at the last second. What Goldin does prevents that from happening - good !!

That’s EXACTLY what I do. I will “almost never” place a bid during the middle of the auction. Drives me nuts when people keep bidding the price up with days left. I usually will manually fire my bid off with seconds left but will sometimes use a snipe service. We’re still going to war and I’m still offering my best bid. I love the hard ending time because you either win or you don’t.

[Gorditadogg]

Originally Posted by dariushou

"Extended Bidding - After an auction for an item closes, the auction will then enter an extended bidding window of 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. Extended bidding is open for everyone and for every item at auction. Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. So get your bids in early!"



Who in god's name writes this crap. You would think that Goldin would be very specific on how the auction works in extended bidding. Does Auction mean the entire auction or a lot by lot basis? When I read the above paragraph from the Golding FAQs, I read it as the entire auction is extended each time a bid is placed in the extended bidding time. This sentence: "Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions." Especially when other references to "Auction" in that paragraph reference the entire auction and not a lot...



Why not say each lot will be extended, but only that lot if it gets a bid in extended bidding... I mean seriously. You can read "auction" in that paragraph many different ways, but it would seem to me most of the time it is referring to the entire auction. I really don't understand why auctionhouses are not more concise when discussing extended bidding and how the auction works. There are just too many holes in that paragraph. I should have asked before, yes, but why leave it up to consumers when a few words would make it crystal clear.



Yes, i'm writing this because i'm pissed because i missed out on almost every item i was bidding on because of the lack of specifics in that paragraph. Whoever consigned these cards to Goldin lost out big time because i was going to win a number of these auctions hands down.



Ticked off collector

That's ridiculous. Within that paragraph, "auction" can mean either an individual lot or the entire event. Goldin goes back and forth between the two. Clear as mud.

Sent from my SM-S906U using Tapatalk

[Donscards]

I actually did like the auction format---I usually go to bed 10-1030 and If I win a lot fine, if not no problem--I went to bed last night at 1040, at that point I won 4 lots already ( I won 7 overall)--if a lot did not get a bid in 30 minutes, lot closed--I bid in auctions from day 1 and the last day, give my final push--There was alot of action all day yesterday in the auction. I consigned 11 lots and was pleased --some went higher than I expected, some on the nose and I lost on 2--I did win the Crofts Wagner, which I think was a buy. Anyway I do like Golden's format--I dont like auctions that go on forever like 2-3 in the morning.

[jayshum]

Originally Posted by dariushou

"Extended Bidding - After an auction for an item closes, the auction will then enter an extended bidding window of 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. Extended bidding is open for everyone and for every item at auction. Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. So get your bids in early!"

Who in god's name writes this crap. You would think that Goldin would be very specific on how the auction works in extended bidding. Does Auction mean the entire auction or a lot by lot basis? When I read the above paragraph from the Golding FAQs, I read it as the entire auction is extended each time a bid is placed in the extended bidding time. This sentence: "Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions." Especially when other references to "Auction" in that paragraph reference the entire auction and not a lot...

Why not say each lot will be extended, but only that lot if it gets a bid in extended bidding... I mean seriously. You can read "auction" in that paragraph many different ways, but it would seem to me most of the time it is referring to the entire auction. I really don't understand why auctionhouses are not more concise when discussing extended bidding and how the auction works. There are just too many holes in that paragraph. I should have asked before, yes, but why leave it up to consumers when a few words would make it crystal clear.

Yes, i'm writing this because i'm pissed because i missed out on almost every item i was bidding on because of the lack of specifics in that paragraph. Whoever consigned these cards to Goldin lost out big time because i was going to win a number of these auctions hands down.

Ticked off collector

I agree that the explanation is poor. However, what did the individual lots show about the amount of time remaining to bid on them? If that was counting down to 0 and not being extended, why did you not bid on them before the time got to 0?

[kevlar7]

It seems clear to me. I like extended bidding. Lots should end when there is no more bidding. Regardless of whether or not you like Goldin’s format, it doesn’t change the fact that they have some fantastic item up for auction right now!

[gst6]

The N284s went for less than I was expecting, so maybe others were thrown off too. Or maybe everyone's saving their money for REA. I was only watching a few lots during extended bidding, so I was able to keep up with the countdown clocks decently enough.

[hammertime]

Originally Posted by dariushou

"Extended Bidding - After an auction for an item closes, the auction will then enter an extended bidding window of 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. Extended bidding is open for everyone and for every item at auction. Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. So get your bids in early!"

As username "hammertime" it feels only right that I respond to this thread. Anyway the last line is my favorite. If you have "open" extended bidding then there is absolutely no reason for anyone to get their bids in early.

[hammertime]

And regarding extended bidding, I understand the idea, but the whole "if at least one lot gets a bid the entire auction is extended" business that many auction houses do just seems asinine. Has there EVER been a case where zero lots have received an additional bid and the entire auction is ended? I'm willing to wager that has never happened. So then what's the point.