Poll on Auction Closings

[Wesley]

I wouldn't want to stay up past 1:00 AM or 2:00 AM on a regular basis, but once or twice a year for big events like the REA auction actually makes the hobby exciting.

[jim]

Why not change the start of the extended starting time to 9 AM EST? Since they run for hours on end, it's not like the west coast is going to miss out on bidding in the wee hours of the early morning. And when it goes into extended bidding, even a 12 hour marathon ends at 9 PM EST. The weeks long lead up to extended time should have given everyone ample time to get their initial bids in. This way, the east coasters who didn't bid aggressively enough have enough time to bid again over their "previous top bids".
jim

[Exhibitman]

Great idea, Jim. Too easy, though.

I like Heritage's practice of closing auctions one item at a time rather than extending everything because one item gets another bid. I think it might actually help sellers in the long term because it allows a buyer with a budget to bid more on remaining items as items he is otherwise in on close out. I know if I get shut out on my earlier closing bids I am more likely to bite the bullet and make that last ditch bid on something that is still alive.

I do think that the rule requiring an initial bid before the extended time is a good one simply to prevent all action from becoming something akin to Ebay snipes.

I also like the capability to make a max bid like in a live auction, i.e., a bid far above the next increment. If someone wants to throw down on a lot, they should be able to do it with one shot.

[barrysloate]

Everybody has their own feelings about this. Al sees it as a social event and I respect that. For me I would be snoring away most of the night and would miss the party.

As far as the first choice goes I suppose I could have worded it differently, but my point is while collectors are willing to tolerate a 4:00 AM closing, I still can't imagine anyone really liking it.

And as I said earlier nobody on the West coast has ever experienced a 4:00 AM closing so to them it's not an applicable question. Doesn't matter, the whole thing is just for fun.

[Steve D]

Heck, I've seen some R&R Auctions (autographs) that didn't close until 0730ish Central time (and yes, I did stay up ALL NIGHT for them, as I was bidding on a couple MUST HAVE items!.....and I did win them )

Steve

[3-2-count]

I'm a west coaster so I love it. Let the games begin.....

[ethicsprof]

i vote for whatever gives me at least 7 hours of sleep.

best,
barry

[barrysloate]

So it looks like by a pretty wide margin people don't like the very late closing time. I think the system in place greatly favors those who can stay up the latest, as well as bidders on the west coast.

Not the end of the world either way. Thanks to all who voted.