Poll on Auction Closings

Al C.risafulli · #1 04-28-2010, 07:09 PM

Barry, I think "I love auctions that run all night and wouldn't change a thing" is probably a leading response in that it implies that I love ALL auctions that run all night. Although that's the way I voted, that's not the case.

An ordinary, run-of-the-mill auction with a couple of neat items and maybe one or two things I'm interested in bidding on is not much of a big deal, and I prefer for that auction to close at an earlier hour.

A major auction with a host of historically significant items, a bunch of lots that my friends are either bidding on or have consigned, 20 or 30 items I might be interested in winning at the right price, and dozens of curiosities or otherwise noteworthy items is an EVENT. Couple it with a six-pack, a handful of collectors in a chat room, and no work in the morning, do it once a year, and I'll stay up all night and LOVE it. If that auction went on til noon the next day, I'd still remain interested. And I'm not just talking about REA, there have been other auctions in the hobby that have fit that definition.

-Al

PS - Okay, maybe two six-packs.

Jim VB · #2 04-28-2010, 07:16 PM

I have to be honest... this Saturday night my 16 year old, sophomore, daughter, is attending the Senior Prom with her 18 year old, senior, boyfriend.

I didn't expect to get a wink of sleep prior to 4:00 AM anyway.

calvindog · #3 04-29-2010, 02:51 PM

Quote:

Originally Posted by Jim VB

I have to be honest... this Saturday night my 16 year old, sophomore, daughter, is attending the Senior Prom with her 18 year old, senior, boyfriend.

I didn't expect to get a wink of sleep prior to 4:00 AM anyway.

I am so happy I have two boys.

Jim VB · #4 04-29-2010, 05:09 PM

Quote:

Originally Posted by calvindog

I am so happy I have two boys.

LOL!

Oh yeah. They'll NEVER cause you any concern.

Wesley · #5 04-28-2010, 07:16 PM

I wouldn't want to stay up past 1:00 AM or 2:00 AM on a regular basis, but once or twice a year for big events like the REA auction actually makes the hobby exciting.

jim · #6 04-28-2010, 07:24 PM

Why not change the start of the extended starting time to 9 AM EST? Since they run for hours on end, it's not like the west coast is going to miss out on bidding in the wee hours of the early morning. And when it goes into extended bidding, even a 12 hour marathon ends at 9 PM EST. The weeks long lead up to extended time should have given everyone ample time to get their initial bids in. This way, the east coasters who didn't bid aggressively enough have enough time to bid again over their "previous top bids".
jim

Exhibitman · #7 04-28-2010, 07:30 PM

Great idea, Jim. Too easy, though.

I like Heritage's practice of closing auctions one item at a time rather than extending everything because one item gets another bid. I think it might actually help sellers in the long term because it allows a buyer with a budget to bid more on remaining items as items he is otherwise in on close out. I know if I get shut out on my earlier closing bids I am more likely to bite the bullet and make that last ditch bid on something that is still alive.

I do think that the rule requiring an initial bid before the extended time is a good one simply to prevent all action from becoming something akin to Ebay snipes.

I also like the capability to make a max bid like in a live auction, i.e., a bid far above the next increment. If someone wants to throw down on a lot, they should be able to do it with one shot.

barrysloate · #8 04-28-2010, 07:33 PM

Everybody has their own feelings about this. Al sees it as a social event and I respect that. For me I would be snoring away most of the night and would miss the party.

As far as the first choice goes I suppose I could have worded it differently, but my point is while collectors are willing to tolerate a 4:00 AM closing, I still can't imagine anyone really liking it.

And as I said earlier nobody on the West coast has ever experienced a 4:00 AM closing so to them it's not an applicable question. Doesn't matter, the whole thing is just for fun.

Steve D · #9 04-28-2010, 07:55 PM

Heck, I've seen some R&R Auctions (autographs) that didn't close until 0730ish Central time

(and yes, I did stay up ALL NIGHT for them, as I was bidding on a couple MUST HAVE items!.....and I did win them

)

Steve

3-2-count · #10 04-29-2010, 12:00 AM

I'm a west coaster so I love it. Let the games begin.....

http://planetsmilies.net/happy-smiley-8809.gif

ethicsprof · #11 04-29-2010, 12:26 AM

i vote for whatever gives me at least 7 hours of sleep.

best,
barry

White Borders · #12 04-28-2010, 07:21 PM

Hi Barry,

Depends on whether I'm bidding or I'm consigning.

If I'm bidding, I like to see lots close individually with the 10 or 15 minute rule, as well as the rule that says you have to put in a preliminary bid on the lot in order to bid on it during extended bidding.

If I'm consigning, I want my lots to stay open as long as the entire auction is open and I want everybody to be able to bid on it at anytime.

Best Regards,
Craig

View Poll Results: Poll on Auction Closing Time
I love that auctions run all night and wouldn't change a thing	16	11.51%
I accept that auctions may run past 4:00 AM but would prefer they closed earlier	30	21.58%
I hate auctions that close at 4:00 AM and feel the system should be changed.	93	66.91%
Voters: 139. You may not vote on this poll

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