The way auctions close?

[MartyFromCANADA]

They should end the auctions in the afternoon on the East coast. Let extended bidding rules begin at around 4 or 5pm. After midnight, bidding should only continue on active lots. *I was up until 1:30 EST last night, winning three lots, woke up and was outbid on all. Poor me

[RGold]

Originally Posted by MartyFromCANADA

They should end the auctions in the afternoon on the East coast. Let extended bidding rules begin at around 4 or 5pm. After midnight, bidding should only continue on active lots. *I was up until 1:30 EST last night, winning three lots, woke up and was outbid on all. Poor me

Common sense answers like that do not belong on this forum!

[bobbyw8469]

Originally Posted by MartyFromCANADA

They should end the auctions in the afternoon on the East coast. Let extended bidding rules begin at around 4 or 5pm. After midnight, bidding should only continue on active lots. *I was up until 1:30 EST last night, winning three lots, woke up and was outbid on all. Poor me

As tongue in cheek as this statement is, the reality is there is no such thing as an East Coast auction. There are MANY west coast auctions however.

[Bosox Blair]

Well, I have lived on the Atlantic coast and the Pacific coast, so I do understand where all the sentiments are coming from.

Putting all that aside, I'm fine with how all the various auctions work. As long as the rules are made clear to everyone from the get-go, it is fair game.

People always assume is is easy (or easier) for West coast people to stay up until very late hours to place late bids. It isn't. And obviously East coast people are free to sleep between 10PM and 3AM and then get up with the benefit of 5 hours sleep to rejoin the late bidding. Why is that presumptively impossible? Frankly I don't think that is any harder than forcing yourself to stay up until an unusually late hour with no sleep on the West coast.

My point - if you know the rules, you have no excuse...work with the rules.

(Not to mention the ability to leave max bids, but I leave that out of the piece for now since I'm just as averse to it as most others...even though I trust Al...)

Cheers,
Blair

[parker1b2]

I am mostly a memorabilia and autograph collector, but as someone who just in the past 2 years joined a few auction sites that advertise here (before that mostly ebay, dealers and shows) I can say I hate auctions that end in the early morning.
I am still mad at an item I lost at Lelands last year. Was my first time bidding with them. I was bidding on something and was winning, below my max bid also, and stayed up to about 3am. It was way too late for me, and I figured since there was no action on the lot for like two hours, I would win it and went to bed. Woke up in the morning and sure enough I lost it. I probably would have bid a little higher, but I was a sleep. Still bugs me.

[Griffins]

Originally Posted by bobbyw8469

As tongue in cheek as this statement is, the reality is there is no such thing as an East Coast auction. There are MANY west coast auctions however.

Wrong. LOTG ended at about 6am eastern. Goodwin has ended that late (early) as well. At the age most of us are you're much more likely to be up at 6am on the east coast than I am to be up at 3am on the west coast.

[kkkkandp]

I like the item-by-item closing approach and think Dave Schrader's way of doing it is pretty decent. Every lot has a fixed closing time so it's either bid or get out. I think perhaps the 30 seconds between lots might be a tad short especially if you are bidding on a couple of lots that close one after the other and might need some more time to rethink your strategy.

Letting auctions run until 6:00 AM (or whatever) the next day just seems crazy to me.

[rats60]

I would close the auction lot by lot. I would also get rid of the 30 minute or 15 minute reset. 5 minutes is enough. In my case, I would place more bids with more collector friendly rules. I'm not going to stay up all night to bid on a card.

As is, I'll just place a bid if I really want something and if I get out bid in the middle of the night , I don't win, the auction house leaves money on the table. There was a card Sat night that I was interested in, but I chose to not even bid because of the rules. The card sat at the same price for a long time, but after I went to bed, someone came in and won the lot.

[4815162342]

I think we simplify these auction rules à la

Cones of Dunshire
cones.JPG

or

Pile of Bullets
pile.JPG

In all seriousness, 5 minute bid intervals sounds good too.

[dstudeba]

Originally Posted by Griffins

Wrong. LOTG ended at about 6am eastern. Goodwin has ended that late (early) as well. At the age most of us are you're much more likely to be up at 6am on the east coast than I am to be up at 3am on the west coast.

Completely agree. I am up most mornings working on my computer at 6 AM. The last time I was up at 3 AM I obviously had no impulse control and therefore had no business making financial decisions.