Ebay vs Auction houses

[sycks22]

It is kind of funny that people won't buy a card on ebay for $3500, but will play $4300+ in an auction house. There's nothing like getting a catalogue in the mail and leafing through it.

[cubsfan-budman]

I know this has been talked about in other threads, but another advantage of the AH is that there is some assurance that the items are authentic. At least if it isn't, there's an entity that you can hold responsible.

[turtleguy64]

in the past I've sent thousands of dollars worth of stuff to Mastro,and then Legendary.The conclusion: if you are consigning to auction houses,then you will probably make some good bucks.But if you are buying from such auctions,then you will probably NOT make money.For example,selling the auction stuff you won later on ebay,you will in all probability not break even.Unless it is some rarity which a collector somewhere MUST have.I'm just going by my experiences.

[packs]

The thing I hate about auction houses is the extended time. I just don't understand the principle behind it. Most auction house auctions run for weeks and even with weeks to put in your highest maxium bid they let other bidders steal an item from you in extended time.

[Leon]

Originally Posted by packs

The thing I hate about auction houses is the extended time. I just don't understand the principle behind it. Most auction house auctions run for weeks and even with weeks to put in your highest maxium bid they let other bidders steal an item from you in extended time.

The solution is to bid more than anyone else .

I don't understand your reasoning that, if you have the same opportunity as everyone else to bid, they are letting other bidders steal an item?

[camlov2]

Originally Posted by packs

The thing I hate about auction houses is the extended time. I just don't understand the principle behind it. Most auction house auctions run for weeks and even with weeks to put in your highest maxium bid they let other bidders steal an item from you in extended time.

I would say just the opposite. In an auction house they always add extra time once a bid is made, an item can't be "stolen". On ebay you can bid with a few seconds left and not leave enough time for someone to increase their bid. (either case it can't be stolen if you bid more-as Leon stated)

[packs]

My point is that if I bid my max bid before time runs out and I'm winning the auction when time runs out, I should be the winner. Someone shouldn't be allowed to have a second chance at the item just because they placed an initial bid but didn't outbid me in regulation time.

That's what I'm referring to by stealing an item. It's like if eBay allowed sellers to wait until an auction ended and message everyone who bid to ask if they were sure they didn't want to pay more money now that they know what the item sold for. A second chance bid is different from a max bid.

[Jlighter]

While I do agree with extended time, I think it should be on a per item basis. For example if a bid on a lot 29 is not placed 15 mins after the auction ends, then that lot closes, but any other lot that receives a bid goes to the next 15 mins.

Just my thought.

[Leon]

Originally Posted by packs

My point is that if I bid my max bid before time runs out and I'm winning the auction when time runs out, I should be the winner. Someone shouldn't be allowed to have a second chance at the item just because they placed an initial bid but didn't outbid me in regulation time.

That's what I'm referring to by stealing an item. It's like if eBay allowed sellers to wait until an auction ended and message everyone who bid to ask if they were sure they didn't want to pay more money now that they know what the item sold for. A second chance bid is different from a max bid.

If you were a consignor you would want extended time...again and again.

[E93]

Originally Posted by packs

The thing I hate about auction houses is the extended time. I just don't understand the principle behind it.

The other night in Legendary there were two items I really wanted and a set amount I was willing to pay for the pair. The first ended for a little less than I was willing to go so since the second was still open I put one final bid in on it and won it. Had the first not gone for less, i would not have put another bid on the second. This is particular to the way Legendary closes with each lot on individual 30-minute rule times. In other auctions where the whole auction stays open, when bidding on one item on my list get higher than I want to spend on it, I can redirect those resources to other items. This happens a ton in big auctions like REA. So there is a bit of the principal behind it.
jimB

[packs]

That's a good point. I didn't consider that. There's always good and bad. I just find extended time a frustrating aspect of auction houses. I still love auction houses. They have the better items.

[smtjoy]

I used to agree that the open/close all lots after no bidding was the best to maximizing consignors totals. After competing in the last couple Legendary I not so sure, one I just didn't see many lots going for cheap last two nights and don't really think they are leaving money on the table (which I find impressive with all the negative issues going on with them).

I went into this last auction having a strong desire for 4 lots but I knew I could only afford 1-2. Now two auctions ago I was shut out and learned my lesson that you cant treat it like the other auctions where you can in essence wait till 4am to put your bids in and win some just because people went to bed (I have been on both sides of this). Back to the bidding the lesson I learned in Legendary auctions with lots closing, if you have limited funds chasing a few lots you really have to bid your lots up on the last day a few hours prior to extended, for instance my top item I wanted around 8pm still had about 12 bidding increments left till my max, figuring these could take up to 15 minutes each, theoretically I might not be out bid for 3 hours into the extended time and at that time the other three lots I wanted would easily all be closed. So two hours prior to extended I started to be top bidder on the 2-4 lots and rebid any time I was knocked down. Sure enough I ended getting bid up on two so that at the start of extended I was up on only 2 and my 3-4 had already exceeded my bidding limits so now I was down to two and both had 8 increments left. Since I still had plenty money left in both and could cover both if I won them at 70% of max, i rebid each in extended till I was down to 6 bids on each then my top lot went off to my max. I was a little worried at this point as I was winning both but one at 80% and the other at 95% which would have been a strain to buy but getting a nice lot for 80% I knew I could flip them on ebay for a quick profit and come out ahead. I only had to sit about 5 minutes till I was outbid on my second lot and 6 minutes after that I won my top lot.

Now you could say if one more bid was placed on my top lot I would have been out and not won anything but in that case 3 of the 4 lots would have been well over my budget and I would not have won anyway and would have drove up the price on the #2 but you could also say any of those lots might not have got the forced early action and sold lower at the end because of it.

The other thing I find interesting is I know a number of dealers whos best auctions seem to be the open closes because they can use the no bidding till way late on all bargains and count on a number of people not waking up to re-bid. And if dealers are making their money then there is already money left on the table or they would not be bidding. Just food for thought, I find it interesting bidding in both.

[skelly]

I recently had a card on ebay for $99 starting bid and no one bid on it. The same card sold for $200+ in a catalog auction. Unless your just dumping say 50 vg commons from 1957, anything that could be considered desirable, consignment to one of the 2-3 big ebay sellers, or a catalog auction is the way to go in my opinion.

[Exhibitman]

Lots of dealers buy lots of stuff at auctions to resell. They know their price points and have the discipline not to exceed them.

Ebay is probably the place to maximize your returns on individual card sales but it takes time and effort to list and fill orders, so you really have to decide whether it is worth your time.

[BCauley]

Eventually I'll bid on an AH listing but not yet. As for ebay, I've pretty much sworn it off. A few of the recent purchases I've had I've waited for the card to pop up on the B/S/T here. Sure, those same cards were listed on ebay but I've just become so sour about that site that I just hold off and wait for it to show up elsewhere.

[SetBuilder]

The B/S/T has a very small and limited selection. About 5 new listings pop up each day. I'm not used to buying by posting a request. I prefer to view the listings in a catalog form and choose what I want.