More reasonable auction closing

[Casey2296]

Originally Posted by Snapolit1

To the extent this whole late closing process is founded on some assumption that buyers are holding $X,XXX in their hand that they are hell bent to spend, and will quickly push their entire stack of chips on to another item in the middle of the night if necessary . . . I just never got that. . . . . . Doesn't ring true to me.

That's exactly how it happens.

Let's say I have 6k to spend and I have 10 cards with initial bids ranked in order of importance, now I know 6K is not going to buy those 10 cards, that would be a fantasy, but maybe that 6K buys 2 or 3 of those cards, or maybe just 1. Sometimes its none by the end of the night.

I won't really know that until 9pm PST when the serious bidding takes place and we are closing on a lot by lot basis, sometimes you know that by 6pm PST with the initial surge of bids and can delete some of the 10.

So, for example, I'm down to 3 cards at 9pm at 2K each, one goes to $2500, now I'm down to 2 cards, one of which may be the $2500 card but I have to cut 1.

2 cards at $4500 with $1500 left in the budget, next cut is all in on one card and increasing my bid to win up to 6K or the big goose egg.

That's my experience but YMMV.