REA Fall Auction Ends TODAY With New 12 PM Noon Eastern Deadline For Initial Bids!

[perezfan]

A question for Brian...

Let's say there is a lot currently with zero bids. Prospective bidder then makes the call, and gets authorization to place a bid (to keep it from going unsold...)

Is that lot then closed to all others, with the winning bidder being the person who placed the overtime bid? Or does that action open it up to all others?

Thanks in advance for clarifying!
Mark

[spacktrack]

Under that scenario, the lot would be closed to new activity.

[iowadoc77]

Originally Posted by spacktrack

Under that scenario, the lot would be closed to new activity.

Which makes complete sense.
I like the new format!

[Exhibitman]

I'm out

That was easy.

[mybuddyinc]

As I stated before I like this new time arrangement.

However, I'm wondering how many "beer" bids are going to be lost ????

Right now I'm on my third 16 oz "shot in the dark" coffee ("red eye" to some parts of country), and all the *&^%$ hepped up !!!! But, although going nuts, have refrained from upping max bids.

If it was after mid-night, and had 3 pints in me, who knows ????????

Fun, fun, Scott

[iowadoc77]

Originally Posted by mybuddyinc

As I stated before I like this new time arrangement.

However, I'm wondering how many "beer" bids are going to be lost ????

Right now I'm on my third 16 oz "shot in the dark" coffee ("red eye" to some parts of country), and all the *&^%$ hepped up !!!! But, although going nuts, have refrained from upping max bids.

If it was after mid-night, and had 3 pints in me, who knows ????????

Fun, fun, Scott

Next time let's get together for some pints. Sounds like a good time!

[mybuddyinc]

Originally Posted by iowadoc77

Next time let's get together for some pints. Sounds like a good time!

Ten O'clock --- "Do you know where your children are ???" As they said in the good old days back on independent NY Chanel 5 News ........



Still a'go'n -------------------- Fun, Scott

[perezfan]

Originally Posted by iowadoc77

Which makes complete sense.
I like the new format!

Agree... thanks, Brian for clarifying!

[PhillipAbbott79]

Originally Posted by spacktrack

Under that scenario, the lot would be closed to new activity.

I don't recall seeing that in the auction rules any where. It may also promote people that think that the initial bid is close to what the market price is, and people rushing to call you to make the initial bid that "purchases" the item.

If I were a seller, I am not sure that I would like that. In general the opening bids are lower than they should be to ensure the items sell, but the side affect is that there is almost always competition to help push the price up.

The prices last night were very weak in my opinion but it is in no way the result of changing the format. The market is saturated and there are some big players that have dropped out. This trend of lower prices will continue on certain cards.

Some people may have gotten caught with their pants down, but I am sure today they will know what happened and why, and on the next auction it will not again. Either way, if you ask me, they have no reason to complain. The people who stay informed don't have issues, and the people that feel they are entitled do. It is up to the person to determine which they are and how important it is to them.

[Snapolit1]

After the exchange with RE last night, I checked out all the items with no bids. It seemed a # of them were withdrawn. Maybe sellers have the option to indicate whether they want their item yanked if no bids in regulation time or whether they are happy selling for the minimum in overtime.

[Snapolit1]

Prices seemed fair for the stuff that I was shut out of. I agree the market has been flooded lately with major auctions. Only so many people in the market for a 33 Goudey Gehrig PSA 7 or 8.

[1952boyntoncollector]

Originally Posted by PhillipAbbott79

I don't recall seeing that in the auction rules any where. It may also promote people that think that the initial bid is close to what the market price is, and people rushing to call you to make the initial bid that "purchases" the item.

If I were a seller, I am not sure that I would like that. In general the opening bids are lower than they should be to ensure the items sell, but the side affect is that there is almost always competition to help push the price up.

The prices last night were very weak in my opinion but it is in no way the result of changing the format. The market is saturated and there are some big players that have dropped out. This trend of lower prices will continue on certain cards.

Some people may have gotten caught with their pants down, but I am sure today they will know what happened and why, and on the next auction it will not again. Either way, if you ask me, they have no reason to complain. The people who stay informed don't have issues, and the people that feel they are entitled do. It is up to the person to determine which they are and how important it is to them.

" This trend of lower prices will continue on certain cards."


That part is true every auction ever year actually.

I always check to see if the babe ruth 1933 psa 1s are going for 1000 or 1956 jackie robinson psa 8s going for 1000 as my bird in the coal mine. If i see either of those going for 500 for example then i know its a bad auction or the end is coming..


A leaf SGC 5 Jackie robinson did go for over 5300 which i thought was very strong. It also appears the high dollar cards did well like the cobb/cobb rookie ruth etc