Goldin Auctions

[Peter_Spaeth]

Originally Posted by Vintage Vern

OK, problem I have ran into is most online auctions don't have a real good policy in place that is understood. Lots of confusion vs just letting a hammer drop when the time is up.

I mean if people understand at 10pm EST bidding is over then get your highest bid in by that time. There's no confusion in that.

Also not sure if people that haven't bid before the extension are able to or not bid with Golden with the extended time. That's another issue.

I actually had to issue a warning (threat of lawsuit) to a memorabilia dealer about how they ended or didn't end auctions to their own rules. Tried to add several hundred dollars on 3 separate items that fell outside their rules. Luckily for me they were already under investigation for fraud, and no it wasn't Golden it was JO Sports Inc. Sadly it was due to how they handled the 30 minute extension. They had shill bids driving up the price even after the reserve was hit and time ended. I'd love to know how much they made doing unjust practices like that.

I can't vouch for the language used but the concept of a lot by lot closing with a bid during the window extending the time to the next window is not difficult.