Lelands Auction Going Strong Still Lots of Room

[barrysloate]

The problem is nothing compels a bidder to get his bids in early. REA closes at 4:00 PM and there are tons of bidders who wait eight or ten hours before they first sit down to bid. I always believed the system was flawed but no auction house seems to care. They like it just the way it is.

[sportscardpete]

I bid on the UZIT early in the auction and completely forgot about it.


Ended up winning it and got a good night sleep. Have no complaints.

[Runscott]

Originally Posted by barrysloate

The problem is nothing compels a bidder to get his bids in early. REA closes at 4:00 PM and there are tons of bidders who wait eight or ten hours before they first sit down to bid. I always believed the system was flawed but no auction house seems to care. They like it just the way it is.

Sitting here with a beer, mulling over the endless NFL playoff possibilities, so...

The biggest problem I see for Lelands is that their auction is boring on the final night. I placed my bid, and it would have been kind of 'fun' to watch the clock count down for my lot and know that I had won. It turned out that no one bid after my 6:00pm bid, so it was a waste of time watching the auction. With no clock, you have absolutely no idea what's going on. I know that 'fun' isn't supposed to be part of spending money, but this is a hobby, so it is.

I thoroughly enjoy sitting down with a bottle of red wine and watching my lots approach the end of the 30 minutes. It's entertainment. It's also kind of fun to put in a high ceiling bid, and watch someone manually bidding one increment every 29 minutes, while I just sip my wine and smile. Unless, of course, they run me all the way up to the maximum

[jefferyepayne]

This was my first time participating in Lelands and I don't know if I will do it again if this is the way they will continue to run their auctions.

1. I don't enjoy staying up all night so instead I bid for a while and then go to bed. I know this resulted in less $$$ for the auction house as two of the lots I was bidding on I would have bid more if I had know I was outbid. If lots ended one by one I would definitely stay up as long as necessary for those individual lots to close.

2. It's frustrating to not have a timer that shows the amount of time left in the auction. I like to keep track of the time left and also enjoy watching the countdown to the end.

jeff

[calvindog]

Originally Posted by Runscott

The biggest problem I see for Lelands is that their auction is boring on the final night.

It wouldn't be so boring if you could watch a dog bid on lots.

[Leon]

Originally Posted by calvindog

It wouldn't be so boring if you could watch a dog bid on lots.

I saw a dog driving a car, by himself, on Good Morning America, yesterday. Probably the same dude.

[calvindog]

Originally Posted by Leon

I saw a dog driving a car, by himself, on Good Morning America, yesterday. Probably the same dude.

Ask Josh.

[Runscott]

Originally Posted by calvindog

It wouldn't be so boring if you could watch a dog bid on lots.

well-played

[bobbyw8469]

I am in agreement with everyone else. Not fair to the east coasters to have auctions go all hours of the night. Definitely favors the West Coast. I believe Hunt Auctions, Legendary, Huggins & Scott and a few of the others have it right. End lots on an individual basis - that way you get only the bidders who are actively interested in certain lots, and force them to bid or give it up!

[glchen]

A couple of years ago, it seemed to be the consensus that ending auctions lot by lot hurt consignors (but not bidders) (see this thread: Link), and Huggins & Scott even had a poll once asking if they should change their auction ending procedures. (The results were to keep it the same.) However, it looks like the thinking is changing where consignors are now also believed to be disadvantaged by the all lots close at the same time style.

[Leon]

Originally Posted by glchen

A couple of years ago, it seemed to be the consensus that ending auctions lot by lot hurt consignors (but not bidders) (see this thread: Link), and Huggins & Scott even had a poll once asking if they should change their auction ending procedures. (The results were to keep it the same.) However, it looks like the thinking is changing where consignors are now also believed to be disadvantaged by the all lots close at the same time style.

Scott and I have had many discussions on how to end our auctions. And we do have enough lots for it to stay open until 4am+ CST. At this point, with our auction s/w finally being able to do it, we believe keeping all bidders interested is the best strategy. That means letting everyone have an equal chance and closing them individually. He and I are both very active collectors and we both feel we will bid more if we are ON a lot and can stay on it, instead of playing the "how late can I stay up" game. Now, that being said...a company like REA with only one auction a year, we will make an exception for and stay up. Many times on the all-nighters I go to bed before they are over, thereby causing the consignors potential money in their pockets. I don't bid in my sleep and I rarely leave up to bids. There is no perfect answer but this is our thinking right now. We reserve the right to change our minds. One thing everyone should also keep in mind too, the reason some might not close individually is because their s/w won't let them. Yes, one of the major s/w's used wouldn't ever allow us to close individually.. That is one reason we changed s/w. Happy collecting.