Robert Edward Auctions - Up For Bidding

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Posted By: barrysloate

With REA's site you can determine some bidding patterns. Even though all the bidders are anonymous, you can go on the bid history and see the times the bids were executed. If one bid came in at 5:28:30, for example, and the next bid at the same time, you know there was a ceiling bid.

Today I went onto the bid history of one of the key lots that already had double digit bids (I forget which one). There were two or three qualifiers at the bottom, then a high ceiling that was challenged and run up to the max or near max.

Now why is that going on on the first day of a thirty day auction? What can possibly be accomplished? So let's say the bidders now know they are up against a ceiling- there are thirty days left, what happens today is irrelevant.

Edited to add Eric (since we were posting at the same time) there are in fact high ceiling bids being challenged on day one.