Closing Tonight - Love of the Game Late Summer Premier Auction

[aljurgela]

Does the LOTG closing method bother anyone else? It seems like at some point there should just be individual clocks on lots to me. Most auction houses have moved to this method and I feel like it is the most fair. Am I in the minority here? Do people generally like the 2 OT method?

[oldjudge]

I like the current method

[BobbyStrawberry]

I like the method of live auctions when they just end instead of being extended into infinity

[Rhotchkiss]

Originally Posted by aljurgela

Does the LOTG closing method bother anyone else? Do people generally like the 2 OT method?

I really like the way LOTG does it.

The lot by lot closing can really suck when you are interested in multiple items, but cant/dont want to buy them all, and you are battling on one only to give up and see that the other lots you were interested in are all closed. This is the benefit of the entire auction closing at once -- you dont get locked out of any specific item. That said, it sucks when an item that has gotten no love gets a final hit at 5am and/or to have to wake up at 5am to bid or protect your item. LOTG's format is a nice compromise.

[aljurgela]

Originally Posted by Rhotchkiss

I really like the way LOTG does it.

The lot by lot closing can really suck when you are interested in multiple items, but cant/dont want to buy them all, and you are battling on one only to give up and see that the other lots you were interested in are all closed. This is the benefit of the entire auction closing at once -- you dont get locked out of any specific item. That said, it sucks when an item that has gotten no love gets a final hit at 5am and/or to have to wake up at 5am to bid or protect your item. LOTG's format is a nice compromise.

But I just can't get on board with the "whomever can stay up the latest" gets the last look. Goes against my sense of fairness, but I figured that enough people must like it so that is why Al sticks with it....

[Hankphenom]

Originally Posted by aljurgela

But I just can't get on board with the "whomever can stay up the latest" gets the last look. Goes against my sense of fairness, but I figured that enough people must like it so that is why Al sticks with it....

Won't your max bid get the last bid for you if it's the highest you're willing to go? OK, so that makes you try to figure out what that bid might be, but is that a bad exercise? If you're willing to shoot the moon as in "top all bids," go ahead and bid the moon. In a few years it will probably look like a bargain anyway!

[Aaron Seefeldt]

Originally Posted by Rhotchkiss

I really like the way LOTG does it.

The lot by lot closing can really suck when you are interested in multiple items, but cant/dont want to buy them all, and you are battling on one only to give up and see that the other lots you were interested in are all closed. This is the benefit of the entire auction closing at once -- you dont get locked out of any specific item. That said, it sucks when an item that has gotten no love gets a final hit at 5am and/or to have to wake up at 5am to bid or protect your item. LOTG's format is a nice compromise.

+1

Bidders get left out by getting locked out AND consignors lose some bids too… and if you don’t keep your consignors happy you won’t last long in what has become an extremely competitive AH industry

[oldjudge]

No one gets locked out; if you want to go to sleep leave an up to bid at your max.I trust Al as much as anyone in the business.

[Peter_Spaeth]

We have had this discussion 1000 times and it seems that with any of the possible closing methods, there are pluses and minuses and some will like it and some won't.

[aljurgela]

Originally Posted by Peter_Spaeth

We have had this discussion 1000 times and it seems that with any of the possible closing methods, there are pluses and minuses and some will like it and some won't.

+1 on this... this format is just the one that I, in particular, happen to hate the most...

[oldjudge]

Then do something about your displeasure and don’t bid