Discussion about B.S.T. Auction End Times and Determining an Auction Winner...

[Leon]

The answer will, seemingly, have to be in the way the auction closing is phrased. Maybe it will be wise for future auctions to say something like "All bids must be placed in this thread before 10pm CST" (or whatever you want but you get the idea). That way we know that if the bid is at 10xx then it is too late. Just a thought....I agree that this will be an issue sooner than later if it's not addressed. I (and I am sure the other mods) really don't want to get involved in making any rules or being the deciding factor on a sale....

[FrankWakefield]

The thing to do is say that the auction ends at 10pm if no bids have been placed within the preceding 5 minutes. Once a high bid comes in it adds 5 minutes to the closing time. In a similar fashion to what the fancy auction guys do... But the seller/auctioneer should foresee that possibility and set forth a procedure. With what you have, it is a potential mess.

[Matt]

As Leon stated, it's entirely up to the seller. In your above example, if the seller chose to accept the 10 PM or even the 10:01 PM bid, that's his/her choice and any ensuing outcry is also his/hers to deal with. To that end, I agree that it behooves every seller (not just for the auctions, but any BST transaction) to clarify as best as possible anything they might consider ambiguous ahead of time to avoid headaches.

Edited to comment on Frank's point - in the case I think Brad is referring to, the seller actually did much better using the hard ending time then he would have with the 5 minute rule. Also, wouldn't the 5 minute rule have the same issue?

[Rob D.]

Originally Posted by Leon

Maybe it will be wise for future auctions to say something like "All bids must be placed in this thread before 10pm CST" (or whatever you want but you get the idea). That way we know that if the bid is at 10xx then it is too late.

Exactly. A simple solution.

Also, wouldn't the 5 minute rule have the same issue?

Yes, it would.

[barrysloate]

It's probably not a bad idea to allow bidders who are active to place another bid after 10:00, kind of like letting all qualified bidders continue after the closing time in a catalog auction. It might need to be fine tuned, but sniping makes no sense in these kinds of auctions because there is no clock that can close precisely as on ebay.

[smtjoy]

I guess it should be up to whos selling the item but I like Franks idea of a 5 minute rule, the auction ends once it recieves no bids for 5 minutes after the ending time.

[FrankWakefield]

I think the 5 minute rule fixes the problem mentioned...

With these bids:

Bidder #1 bids $100 at 9:58 pm...
Bidder #2 bids $120 at 9:59 pm...
Bidder #3 bids $130 at 10:00 pm...
Bidder #4 bids $150 at 10:01 pm...


The $100 bid moves closing time to 10:03

The $120 bid moves closing to 10:04

The $130 bid is timely, and moves closing to 10:05

The $150 bid is before the new closing, and moves the closing to 10:06

No other bids follow, so at 10:06 Bidder #4 wins. And with the 5 minute rule bidders 1, 2, and 3 have had a chance to bid again.

I agree with what Barry says about who could bid after the advertised closing, it should only be folks who've actually bid, I'd think. No new bidders after the advertised closing.

And believe me, the time zone needs to be specified!!!!! I screwed that up myself.

[sox1903wschamp]

Originally Posted by FrankWakefield

I think the 5 minute rule fixes the problem mentioned...

With these bids:

Bidder #1 bids $100 at 9:58 pm...
Bidder #2 bids $120 at 9:59 pm...
Bidder #3 bids $130 at 10:00 pm...
Bidder #4 bids $150 at 10:01 pm...


The $100 bid moves closing time to 10:03

The $120 bid moves closing to 10:04

The $130 bid is timely, and moves closing to 10:05

The $150 bid is before the new closing, and moves the closing to 10:06

No other bids follow, so at 10:06 Bidder #4 wins. And with the 5 minute rule bidders 1, 2, and 3 have had a chance to bid again.

I agree with what Barry says about who could bid after the advertised closing, it should only be folks who've actually bid, I'd think. No new bidders after the advertised closing.

And believe me, the time zone needs to be specified!!!!! I screwed that up myself.

Frank knocked this one out of the ballpark. I agree completely.

[barrysloate]

I think there is the small problem of combining two different systems. Ebay is unique from catalog auctions in that it ends precisely at a particular second, so sniping is a big part of one's strategy. There is no sniping in a catalog auction.

However, the BST seems to be set up like a catalog auction, but with sniping at the end, even though there is no descending clock. It's still new and will have some growing pains.

[slidekellyslide]

Frank's idea seems to be the way to go IMO.

[sbfinley]

I agree with the five minute rule. But it is entirely up to the auctioneer. And hey, If the auction runs over, I believe it's a positive for the seller. Any way, shape, or form of it I am extremely pleased with both the B/S/T and the auction threads lately as there have been a plethora of swag to be had.

[Matt]

Originally Posted by FrankWakefield

I think the 5 minute rule fixes the problem mentioned...

The $150 bid is before the new closing, and moves the closing to 10:06

No other bids follow, so at 10:06 Bidder #4 wins. And with the 5 minute rule bidders 1, 2, and 3 have had a chance to bid again.

Frank - maybe I'm missing something, but in your scenario, if a new bid is recorded at 10:06, won't that be the same issue raised above? Is that bid after the 10:06 auction close? As I said, I don't think the 5 minutes solves anything other then the theory that it might help the seller get more money, but again, that was disproved by the factual case we had in the BST.

[sox1903wschamp]

Originally Posted by Matt

Frank - maybe I'm missing something, but in your scenario, if a new bid is recorded at 10:06, won't that be the same issue raised above? Is that bid after the 10:06 auction close? As I said, I don't think the 5 minutes solves anything other then the theory that it might help the seller get more money, but again, that was disproved by the factual case we had in the BST.

If a bid from one of the original bidders comes in at 10:06, the auction now closes at 10:11pm. Correct? And so on and so on until 5 minutes passes w/o a bid. Same principal as say H&S except that is a 30 minute clock.