The way auctions close?

[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.