Robert Edwards Auctions STILL going strong at 8:15 AM Est!!!!

[Aquarian Sports Cards]

Originally Posted by Mark17

To be clear, I honestly believe REA would've rather had the servers stay up and things work as expected.

There seemed to be some arguing otherwise. Sounds like we're in agreement though.

[jonvancouver]

I JUST now got outbid on the lot I was winning.
Such fkn bullshit.

[Orioles1954]

This thread is truly gold.

[Misunderestimated]

All of the items that I was winning should have been considered closed.
All of the items that I consigned should remain open as long as it takes to get every possible bid placed and to wring every last possible dollar out of the prospective bidders.
(No I'm not serious)

[Aquarian Sports Cards]

Originally Posted by jonvancouver

I JUST now got outbid on the lot I was winning.
Such fkn bullshit.

Again I ask why would you assume that person wouldn't have bid yesterday if everything had been working. Oddly enough a lot of bids normally come in at that time that didn't. The assumption that this is activity that wouldn't have happened otherwise is odd. We don't know one way or the other for sure, but the idea that this added time suddenly made people want to spend more certainly seems to be the opposite reaction to the one almost everyone on Net54 is having.

[Carter08]

Originally Posted by Aquarian Sports Cards

There seemed to be some arguing otherwise. Sounds like we're in agreement though.

They didn’t do it intentionally. Not sure I’m giving a round of applause for that.

[hcv123]

1) I wholeheartedly believe this was unintentional. I also agree it is a crappy situation with no possible positive outcome for everyone.
2) I agree with others who have commented that the auction should have been restarted at whatever point (9PM is fine) from where we left off yesterday at the 10 minute closing rather than having an entire day of additional bidding.
3) There is A LOT of psychology to bidding and auctions - the argument that "people will bid what they would have bid" holds no water with me. If someone gets outbid - the more time they have to think about it, the greater likelihood there is that they will place a bid they would not otherwise have placed if not given the time to think. This is certainly not on every item, but will occur on many lots. If this wasn't a factor "sniping" wouldn't exist.
4) The thing that bothers me most was the lack of communication between ~12AM and 1:14AM - The clock was counting down on each lot - I and others were permitted to place bids without clarity on whether the auction would end last night or be pushed till today. I placed bids in that time period thinking there was a chance the auction would close according to the clocks that were counting down. At 1:14 well over an hour after the problem started the email went out saying the auction would be extended. Fairer (imo) would have been to "pause the auction" closer to when the problem began until a decision was made and clearly communicated with everyone.

[Mark17]

Originally Posted by hcv123

1) I wholeheartedly believe this was unintentional. I also agree it is a crappy situation with no possible positive outcome for everyone.
2) I agree with others who have commented that the auction should have been restarted at whatever point (9PM is fine) from where we left off yesterday at the 10 minute closing rather than having an entire day of additional bidding.
3) There is A LOT of psychology to bidding and auctions - the argument that "people will bid what they would have bid" holds no water with me. If someone gets outbid - the more time they have to think about it, the greater likelihood there is that they will place a bid they would not otherwise have placed if not given the time to think. This is certainly not on every item, but will occur on many lots. If this wasn't a factor "sniping" wouldn't exist.
4) The thing that bothers me most was the lack of communication between ~12AM and 1:14AM - The clock was counting down on each lot - I and others were permitted to place bids without clarity on whether the auction would end last night or be pushed till today. I placed bids in that time period thinking there was a chance the auction would close according to the clocks that were counting down. At 1:14 well over an hour after the problem started the email went out saying the auction would be extended. Fairer (imo) would have been to "pause the auction" closer to when the problem began until a decision was made and clearly communicated with everyone.

Agree completely. This wins my vote for best, most succinct post in this thread.

[Peter_Spaeth]

Originally Posted by hcv123

1) I wholeheartedly believe this was unintentional. I also agree it is a crappy situation with no possible positive outcome for everyone.
2) I agree with others who have commented that the auction should have been restarted at whatever point (9PM is fine) from where we left off yesterday at the 10 minute closing rather than having an entire day of additional bidding.
3) There is A LOT of psychology to bidding and auctions - the argument that "people will bid what they would have bid" holds no water with me. If someone gets outbid - the more time they have to think about it, the greater likelihood there is that they will place a bid they would not otherwise have placed if not given the time to think. This is certainly not on every item, but will occur on many lots. If this wasn't a factor "sniping" wouldn't exist.
4) The thing that bothers me most was the lack of communication between ~12AM and 1:14AM - The clock was counting down on each lot - I and others were permitted to place bids without clarity on whether the auction would end last night or be pushed till today. I placed bids in that time period thinking there was a chance the auction would close according to the clocks that were counting down. At 1:14 well over an hour after the problem started the email went out saying the auction would be extended. Fairer (imo) would have been to "pause the auction" closer to when the problem began until a decision was made and clearly communicated with everyone.

Regarding point 3, I hear you but I think the opposite is plausible too, people who were caught up in the heat of pitched battle late at night, who were ready to bid more, take a more reasoned approach in the sober light of day and don't place that next bid.

[Johnny630]

Originally Posted by Peter_Spaeth

Regarding point 3, I hear you but I think the opposite is plausible too, people who were caught up in the heat of pitched battle late at night, who were ready to bid more, take a more reasoned approach in the sober light of day and don't place that next bid.

Agree on that statement.

[Casey2296]

Last night/early morning was brutal, kindly stay off my 4 lots and I'll leave the other 3500+ alone...

And good luck to everybody bidding (again)!

[timn1]

For me Howard nails it right here. Everything else is fine - but the uncertainty during that hour really pissed me off. You felt like you had to continue bidding and yet you had no idea what was happening. I understand the lack of emails until they were really sure what they needed to do, but they should have suspended bidding right at 12:10 and not turned anything back on until after they had made the decision to extend for a day.

Tim

4) The thing that bothers me most was the lack of communication between ~12AM and 1:14AM - The clock was counting down on each lot - I and others were permitted to place bids without clarity on whether the auction would end last night or be pushed till today. I placed bids in that time period thinking there was a chance the auction would close according to the clocks that were counting down. At 1:14 well over an hour after the problem started the email went out saying the auction would be extended. Fairer (imo) would have been to "pause the auction" closer to when the problem began until a decision was made and clearly communicated with everyone.[/QUOTE]

[bounce]

hahaha - and so it begins - items i won 3 different times last night i've not been outbid

perfect!

[Slapshot]

Start the Jeopardy theme.

[rhettyeakley]

I am out. Every item I was high bidder on through the night and through overtime has now been outbid and I can't bid on any other items to put my money elsewhere. Have a good night in REA everyone.

My wife will be happy I will not be spending any money!

[insidethewrapper]

Thank you REA for starting the extended bidding tonight at 9 pm. My lots are already locked and sold and I can go to bed early. Love it.

[perezfan]

Originally Posted by hcv123

1) I wholeheartedly believe this was unintentional. I also agree it is a crappy situation with no possible positive outcome for everyone.
2) I agree with others who have commented that the auction should have been restarted at whatever point (9PM is fine) from where we left off yesterday at the 10 minute closing rather than having an entire day of additional bidding.
3) There is A LOT of psychology to bidding and auctions - the argument that "people will bid what they would have bid" holds no water with me. If someone gets outbid - the more time they have to think about it, the greater likelihood there is that they will place a bid they would not otherwise have placed if not given the time to think. This is certainly not on every item, but will occur on many lots. If this wasn't a factor "sniping" wouldn't exist.
4) The thing that bothers me most was the lack of communication between ~12AM and 1:14AM - The clock was counting down on each lot - I and others were permitted to place bids without clarity on whether the auction would end last night or be pushed till today. I placed bids in that time period thinking there was a chance the auction would close according to the clocks that were counting down. At 1:14 well over an hour after the problem started the email went out saying the auction would be extended. Fairer (imo) would have been to "pause the auction" closer to when the problem began until a decision was made and clearly communicated with everyone.

All of these points are spot-on in my opinion as well...

Especially #3. It's a proven fact that given more time to think about it, more bids will come in. That's precisely why sniping is so effective. What if your winning eBay snipe erroneously registered an hour early? More than likely, someone would outbid it.

[AustinMike]

Originally Posted by hcv123

4) The thing that bothers me most was the lack of communication between ~12AM and 1:14AM - The clock was counting down on each lot - I and others were permitted to place bids without clarity on whether the auction would end last night or be pushed till today. I placed bids in that time period thinking there was a chance the auction would close according to the clocks that were counting down. At 1:14 well over an hour after the problem started the email went out saying the auction would be extended. Fairer (imo) would have been to "pause the auction" closer to when the problem began until a decision was made and clearly communicated with everyone.

This is/was my sentiment. And because of this I didn't bid on Monday. Of the two lots that I really wanted, one was near my maximum on Sunday and I was the underbidder. I probably would have gone another hundred or two on it at most Sunday night. Monday it got no bids and went for the high it had Sunday night. I was the high bidder on the other lot on Sunday night and was willing to go $700 above that. Monday it got a bid 7 minutes into the extended bidding to take the lead. Since I wasn't watching the auction, that's what it went for 10 minutes later.

So in these two data points, two consigners lost money as did REA. At least $100 on each lot and depending on the other bidder for the second lot, up to $700 on that one.

So no, it is not an indisputable fact that everyone made more money. Although it is indisputable that I have more money in my bank account because of the Monday extension.

[Kawika]

Robert Edwards Auctions thread STILL going strong at 8:15 AM Est!!!!

If whoever was jousting with me in extended overtime and extended-extended overtime is here no need apologize just send me a thousand bucks and we're good.

[Mark17]

Originally Posted by hcv123

4) The thing that bothers me most was the lack of communication between ~12AM and 1:14AM - The clock was counting down on each lot - I and others were permitted to place bids without clarity on whether the auction would end last night or be pushed till today. I placed bids in that time period thinking there was a chance the auction would close according to the clocks that were counting down. At 1:14 well over an hour after the problem started the email went out saying the auction would be extended. Fairer (imo) would have been to "pause the auction" closer to when the problem began until a decision was made and clearly communicated with everyone.

After several weeks of normal bidding, there followed a couple hours of extended bidding. This was supposed to be followed by lot by lot 10 minute extended sessions to conclude the auction.

Instead, the 10 minute per lot session continued for over an hour, and each time the clocks seemed to be running down, they reset. It was like expecting the auction to end within minutes (so get those bids in) time after time, and this had to result in more last minute bidding. I certainly thought I was on the verge of winning my lot several times, and increased my max bid during the madness, in case I got disconnected as my lot was closing.

Then, REA decides to add an entire new day of extended bidding, and then, yet another 10 minute per lot countdown.

If we can all agree that bidding in auctions is most intense at the close, then what would be the result of bidders thinking the close was imminent again, and again, and again, and again, then an extra day is added, and then one last final, final extension?

It would be like ebay having snipers put in their last second top bids, then adding a minute to allow another round of snipe bidding, then adding another round, and another........

[Snapolit1]

And some folks will still argue that all of this resulted in no more money for the AH and consignors.

Believe me, I WISH I had consigned a six figure card to this.

When I consign a really nice card I never want the auction to close. Every additional bid can be huge.

Originally Posted by Mark17

After several weeks of normal bidding, there followed a couple hours of extended bidding. This was supposed to be followed by lot by lot 10 minute extended sessions to conclude the auction.

Instead, the 10 minute per lot session continued for over an hour, and each time the clocks seemed to be running down, they reset. It was like expecting the auction to end within minutes (so get those bids in) time after time, and this had to result in more last minute bidding. I certainly thought I was on the verge of winning my lot several times, and increased my max bid during the madness, in case I got disconnected as my lot was closing.

Then, REA decides to add an entire new day of extended bidding, and then, yet another 10 minute per lot countdown.

If we can all agree that bidding in auctions is most intense at the close, then what would be the result of bidders thinking the close was imminent again, and again, and again, and again, then an extra day is added, and then one last final, final extension?

It would be like ebay having snipers put in their last second top bids, then adding a minute to allow another round of snipe bidding, then adding another round, and another........