Goldin Auctions

[samosa4u]

Originally Posted by dariushou

Yes, i'm writing this because i'm pissed because i missed out on almost every item i was bidding on because of the lack of specifics in that paragraph. Whoever consigned these cards to Goldin lost out big time because i was going to win a number of these auctions hands down.

Sorry this happened. If you don't mind me asking, what were you bidding on ??

[Vintagedeputy]

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

[Aquarian Sports Cards]

Originally Posted by Vintagedeputy

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

It's meant to mimic a live auction in which a lot doesn't end until the bidding does. Unless you think that's BS live as well?

[Vintage Vern]

Originally Posted by Aquarian Sports Cards

It's meant to mimic a live auction in which a lot doesn't end until the bidding does. Unless you think that's BS live as well?

Then why not just have that? It's a bad business practice IMO. They want their cake and eat it too.

If you want a live auction, then have that. If you want an ending time, just have that. The hammer drops the same on both.

Ebay you have timed auctions, you have BIN, and you have reserves. I don't like reserves and auctions that start at a dollar. Start it at the reserve. I know I was hit with shill bids in one auction with a reserve. The same bidder drove up 20 or 30 cards that day. Didn't win any, just got them where they wanted them. I'm sure many others noticed, they just wanted the card and stayed silent like me.


IMO adding time to an auction that closes, has that same effect. Who's driving the car at the other end? If you can't win on a timed auction, then you don't deserve overtime. I know plants are in auctions of every kind, and have witnessed it in multiple formats, both online and live.

This post isn't in any way about singling out Golden, but a general observation.

[Peter_Spaeth]

Auctions are in business to maximize values for consignors and fees for themselves. Bidders may bitch about the format, the potential for shilling, and so forth, but if the stuff is out there they will bid. I very much doubt anyone is going to move to a hard close. Might as well tilt against a windmill IMO.

[Vintage Vern]

Originally Posted by Peter_Spaeth

Auctions are in business to maximize values for consignors and fees for themselves. Bidders may bitch about the format, the potential for shilling, and so forth, but if the stuff is out there they will bid. I very much doubt anyone is going to move to a hard close. Might as well tilt against a windmill IMO.

Are you speaking in general term of sports cards and memorabilia auctions?

I know the largest live and in person online and TV automobile auction houses without naming them have hammer prices that are final bid just for comparison. I go to multiple local auction houses that have hard close hammer prices. I know there's house bidders as well. I would say they're timed in the sense of going going gone. You know the time is up. Ebay is an auction house with different types of endings, but all are known. If you're bidding IMO that's an auction.

[Peter_Spaeth]

Originally Posted by Vintage Vern

Are you speaking in general term of sports cards and memorabilia auctions?

I know the largest live and in person online and TV automobile auction houses without naming them have hammer prices that are final bid just for comparison. I go to multiple local auction houses that have hard close hammer prices. I know there's house bidders as well. I would say they're timed in the sense of going going gone. You know the time is up. Ebay is an auction house with different types of endings, but all are known. If you're bidding IMO that's an auction.

Only speaking about sports cards and memorabilia. The usual suspects we all know here. I think they all have some form of extended bidding?

[Mark17]

Originally Posted by Vintage Vern

I would say they're timed in the sense of going going gone. You know the time is up.

Live auctions have nothing to do with time. Going going... then I place a higher bid. Again, going going... you outbid me. And we could go back and forth for 10 minutes or more, to the auctioneer and consignor's delight.

In a live auction, and lot by lot closing online auctions, I ALWAYS have the chance to place another bid. With a timed close like ebay, I don't. Many times I've tried to get my snipe bid in and missed by a second or two, meaning, the clock denied me the chance, and the auctioneer and consignor missed out on some dough.

[mrreality68]

Every auctions have what they think works for them and their customer base.

Their are auctions that never seem to end, auctions with extended time and then double secret extended time and some end as a total auction and others lot by lot.

Be nice if there is one way but reality there is not.

I just make sure I review the auction in front of me so I can plan accordingly.

[Aquarian Sports Cards]

Originally Posted by Vintage Vern

Then why not just have that? It's a bad business practice IMO. They want their cake and eat it too.

If you want a live auction, then have that. If you want an ending time, just have that. The hammer drops the same on both.

Ebay you have timed auctions, you have BIN, and you have reserves. I don't like reserves and auctions that start at a dollar. Start it at the reserve. I know I was hit with shill bids in one auction with a reserve. The same bidder drove up 20 or 30 cards that day. Didn't win any, just got them where they wanted them. I'm sure many others noticed, they just wanted the card and stayed silent like me.


IMO adding time to an auction that closes, has that same effect. Who's driving the car at the other end? If you can't win on a timed auction, then you don't deserve overtime. I know plants are in auctions of every kind, and have witnessed it in multiple formats, both online and live.

auction
1 of 2
noun
auc·​tion ˈȯk-shən
Synonyms of auction
1
: a sale of property to the highest bidder


Basically time doesn't enter into it. I would argue what Ebay does is NOT a true auction.

[Vintage Vern]

Originally Posted by Aquarian Sports Cards

auction
1 of 2
noun
auc·​tion ˈȯk-shən
Synonyms of auction
1
: a sale of property to the highest bidder


Basically time doesn't enter into it. I would argue what Ebay does is NOT a true auction.

Problem with a one word blanket statement is just that. There's many different types of auctions.

When you try to mix multiple together is where you have issues. Especially when you have room for interpretation of the rules.

I think we all understand different types of auctions exist.

[BobbyStrawberry]

Originally Posted by Vintagedeputy

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

Originally Posted by Aquarian Sports Cards

It's meant to mimic a live auction in which a lot doesn't end until the bidding does. Unless you think that's BS live as well?

What's BS about it IMO is that the extension time is so long. Imagine in a live, in-person auction:

"$1500 going once, going twice..."
"$1,600."

Then everyone sits there for 30 minutes until it's "going once, going twice" again.

Lol

[Aquarian Sports Cards]

Originally Posted by BobbyStrawberry

What's BS about it IMO is that the extension time is so long. Imagine in a live, in-person auction:

"$1500 going once, going twice..."
"$1,600."

Then everyone sits there for 30 minutes until it's "going once, going twice" again.

Lol

I completely get that.

[jayshum]

Originally Posted by BobbyStrawberry

What's BS about it IMO is that the extension time is so long. Imagine in a live, in-person auction:

"$1500 going once, going twice..."
"$1,600."

Then everyone sits there for 30 minutes until it's "going once, going twice" again.

Lol

Obviously, that doesn't happen in a live auction because there's just one lot at a time being bid on. In an online auction where there are sometimes several thousand lots all with bidding available, someone may be trying to monitor 50-100 lots (or more) that they're interested in so some amount of time is needed to make that possible. 30 minutes may seem too long, but it all depends on how many lots someone is interested in.

[doug.goodman]

Originally Posted by jayshum

Obviously, that doesn't happen in a live auction because there's just one lot at a time being bid on. In an online auction where there are sometimes several thousand lots all with bidding available, someone may be trying to monitor 50-100 lots (or more) that they're interested in so some amount of time is needed to make that possible. 30 minutes may seem too long, but it all depends on how many lots someone is interested in.

Agreed

[BobbyStrawberry]

Originally Posted by jayshum

Obviously, that doesn't happen in a live auction because there's just one lot at a time being bid on. In an online auction where there are sometimes several thousand lots all with bidding available, someone may be trying to monitor 50-100 lots (or more) that they're interested in so some amount of time is needed to make that possible. 30 minutes may seem too long, but it all depends on how many lots someone is interested in.

I have heard this argument. Realistically though, how many people are there at 3 am needing to adjust their bids on 50-100 items all at once? Even if one is following many items, a refresh of the bids page and a few clicks—even on many items—seems doable to me in a few minutes in the vast majority of cases.

[jayshum]

Originally Posted by BobbyStrawberry

I have heard this argument. Realistically though, how many people are there at 3 am needing to adjust their bids on 50-100 items all at once? Even if one is following many items, a refresh of the bids page and a few clicks—even on many items—seems doable to me in a few minutes in the vast majority of cases.

True, by 3 AM waiting another 30 minutes after a bid is tough and it's unlikely that many lots remain open. Shortly after extended bidding starts it's more likely to be possible for someone to be watching a lot of items, but 10-15 minutes would probably be enough time for most people.

[Aquarian Sports Cards]

Originally Posted by BobbyStrawberry

I have heard this argument. Realistically though, how many people are there at 3 am needing to adjust their bids on 50-100 items all at once? Even if one is following many items, a refresh of the bids page and a few clicks—even on many items—seems doable to me in a few minutes in the vast majority of cases.

We have gotten a handful of complaints that our 15 minutes isn't long enough.

[SyrNy1960]

Originally Posted by vintagedeputy

any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

+ 100

[jayshum]

Originally Posted by Vintagedeputy

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

Other than eBay, are there any online auctions that end at a specific time with no extended bidding?

[Vintagedeputy]

Originally Posted by jayshum

Other than eBay, are there any online auctions that end at a specific time with no extended bidding?

Yes, there are. And no, I won’t tell you what they are because I don’t need the additional competition 😂

[jayshum]

Originally Posted by Vintagedeputy

Yes, there are. And no, I won’t tell you what they are because I don’t need the additional competition 😂

If that makes you happy, good for you.

[samosa4u]

Originally Posted by Vintagedeputy

Any system that extends bidding is bullshit. The end of the auction should be the end. Place your best offer before it ends.

I hate eBay's auction format. People use softwares and outbid you at the last second. What Goldin does prevents that from happening - good !! You want the same card as I do ?? Let's go to war, baby !! And even if I lose, I will still feel good about it in the end cause' I'll know that I didn't go down without a fight.

The only thing Goldin should change is this: if somebody places a bid during extended time, then five minutes should be added to the clock (not thirty !!)

[Vintagedeputy]

Originally Posted by samosa4u

I hate eBay's auction format. People use softwares and outbid you at the last second. What Goldin does prevents that from happening - good !!

That’s EXACTLY what I do. I will “almost never” place a bid during the middle of the auction. Drives me nuts when people keep bidding the price up with days left. I usually will manually fire my bid off with seconds left but will sometimes use a snipe service. We’re still going to war and I’m still offering my best bid. I love the hard ending time because you either win or you don’t.