Closing Tonight: Love of the Game Auctions

[nolemmings]

In the Fifth Anniversary auction, fewer than 1% of the items in the auction received bids after 3AM. But in the case of those items, bidding was spirited well into the wee hours. A hard close would have severely hurt the consignors of those pieces. Tens of thousands of dollars were bid on those items in late bidding.

And if the bidding had ended at an earlier time--with these and all bidders told in advance of the earlier ending--you have concluded the "spirited bidding" involving tens of thousands of dollars would not have occurred?

[Bicem]

Originally Posted by nolemmings

And if the bidding had ended at an earlier time--with these and all bidders told in advance of the earlier ending--you have concluded the "spirited bidding" involving tens of thousands of dollars would not have occurred?

Agreed, they would have bid earlier.

Bidders are always going to try to bid as close to the end of an auction as possible, that's never going to change. The AH's are the ones that decide if this late bidding frenzy occurs at 1am or 6am based on when the bidders think/believe the auction will truly close.

[Baseball Rarities]

Originally Posted by Bicem

The AH's are the ones that decide if this late bidding frenzy occurs at 1am or 6am based on when the bidders think/believe the auction will truly close.

Agree 100%.