More reasonable auction closing

[BigfootIsReal]

Originally Posted by ullmandds

I lost my 1 item after I went to bed...oh well! Congrats Jeff!!

Isn't this why a bidder should make his max bid early rather than thinking he'll get a steal? Just curious is all. I always put my max in on day one, then not have to worry, if I get outbid, so be it.

[Lorewalker]

Heritage has a great ending and not sure they leave any money on the table, in general. I suppose, in theory, the longer an auction stays open the more money they get for their consignors but it is a "crazy" business model. Memory Lane, Mile High, REA and LOTG seems to go later than most.

Kudos to those who fought it out in the early morning.

[Peter_Spaeth]

If you're an auction house like REA consistently getting amazing prices, what's the incentive to change the system? My suspicion is that late nights promote irrational behavior.

[BillyCoxDodgers3B]

I am so sick and tired of these late closing times. Who came up with this incredibly unfriendly business model?

To all the auction houses that utilize this method: I refuse to stay up for this. You're missing out on more of my money as a result. Bottom line, it's all just "stuff" and not worth screwing with my sleep over.

[hammertime]

I too am not a fan. Seems like whoever can stay up the latest has an advantage, which is odd.

[BobbyStrawberry]

I'm not a fan of the late closings at all

[Snapolit1]

Had to be at airport at 730 this morning.
Long week ahead of me and wasn’t staying up past midnight.

[notfast]

6pm to 10pm extended bidding.

10pm closing lot by lot.

Almost everything would be done by midnight.

[kcohen]

Originally Posted by Peter_Spaeth

If you're an auction house like REA consistently getting amazing prices, what's the incentive to change the system? My suspicion is that late nights promote irrational behavior.

I learned the hard way long ago that alcohol and on-line auctions don’t mix. The one lot on which I bid seriously went while I was in dreamland. Disappointing but so be it. It’s the best way for me to maintain at least a modicum of discipline.

[ullmandds]

Originally Posted by kcohen

I learned the hard way long ago that alcohol and on-line auctions don’t mix. The one lot on which I bid seriously went while I was in dreamland. Disappointing but so be it. It’s the best way for me to maintain at least a modicum of discipline.

me too! to the tune of the antiques roadshow t207 red cross loudy!!!! OOPS!!!!

[edhans]

I was "only" up until 1:30; won nothing and feel like crap today. Oh well...

[Casey2296]

-
East Coast gets the National every year, West Coast gets 3 hours more sleep on auction night.

Seems like a fair trade.

[perezfan]

Originally Posted by Casey2296

East Coast gets the National every year, West Coast gets 3 hours more sleep on auction night.

Seems like a fair trade.

Agree... I like the current format. Everyone is in bed, with no distractions during "crunch time".

I never win much in the Saturday night auctions... that's the night we are always out doing something, and my ceiling bids rarely hold up. So Sunday is just fine with me!

[calvindog]

Originally Posted by Casey2296

East Coast gets the National every year, West Coast gets 3 hours more sleep on auction night.

Seems like a fair trade.

LOL True.

[ValKehl]

Originally Posted by Casey2296

-
East Coast gets the National every year, West Coast gets 3 hours more sleep on auction night.

Seems like a fair trade.

Phil, when did Chicago get moved to the East Coast?

[Snapolit1]

Originally Posted by BigfootIsReal

Isn't this why a bidder should make his max bid early rather than thinking he'll get a steal? Just curious is all. I always put my max in on day one, then not have to worry, if I get outbid, so be it.

Life never liked max bids as a final bidding strategy.

I feel like I am bidding against myself. Maybe not the rational way to think about.

[HercDriver]

Originally Posted by BigfootIsReal

Isn't this why a bidder should make his max bid early rather than thinking he'll get a steal? Just curious is all. I always put my max in on day one, then not have to worry, if I get outbid, so be it.

I’m with you, a Day One bidder. I know what I’ll pay, and maybe I’ll get a deal. If it goes over, I don’t want bourbon bidding for me at a late hour!