Still Going Strong - MEARS December 2010 Auction

[pgellis]

Some things that bothered me about what has been said already since last time that I logged on are:

1. It seems that if you feel that you got a bargain yesterday, but somebody outbid you today, 15 hours later, then too bad.....you should spend more money. People have said, "Keep bidding or shut up". Well I don't have the deepest pockets on here and probably already bid beyond what I wanted to, but come on 15 hours later, no bids, just end it already.

2. If the auction houses should only worry about their consignors, then they are missing the boat. Like I said earlier, it's a 2-way street. You need bidders to buy the items that have been consigned. If bidders feel that they got burned by this extended bidding 15 hours later, then they won't come back. If your only concern is consignors, then don't charge the buyers premium, just increase your consignment fee and tell them that our auction will go on and on and on.

3. Give me a good explanation why a lot should remain open that hasn't had another bid in 15+ hours?

4. And this extended bidding is almost comparable to the following, absurd scenario: Let's say that there are 2000 T206 on eBay right now. Every time someone bids on a T206, every body else's clock re-starts to 15:00, even if nobody has bid on it for a week. How is this absurd example any different than what is going on right now?