Goldin Auctions

[dariushou]

"Extended Bidding - After an auction for an item closes, the auction will then enter an extended bidding window of 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. Extended bidding is open for everyone and for every item at auction. Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. So get your bids in early!"

Who in god's name writes this crap. You would think that Goldin would be very specific on how the auction works in extended bidding. Does Auction mean the entire auction or a lot by lot basis? When I read the above paragraph from the Golding FAQs, I read it as the entire auction is extended each time a bid is placed in the extended bidding time. This sentence: "Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions." Especially when other references to "Auction" in that paragraph reference the entire auction and not a lot...

Why not say each lot will be extended, but only that lot if it gets a bid in extended bidding... I mean seriously. You can read "auction" in that paragraph many different ways, but it would seem to me most of the time it is referring to the entire auction. I really don't understand why auctionhouses are not more concise when discussing extended bidding and how the auction works. There are just too many holes in that paragraph. I should have asked before, yes, but why leave it up to consumers when a few words would make it crystal clear.

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.

Ticked off collector

[4815162342]

“2025 Winter Vintage Elite Auction

Extended Bidding FAQ

Lots that receive more than 1 bid before 09:00 PM on closing day will remain open for bidding for 30 additional minutes. The timer resets to 30 minutes with each new bid until the timer expires with no new bids.

NOTE: This only occurs if a higher bid is placed by another bidder. After 30 minutes of no new bids, the lot closes and a winner is declared.”

https://goldin.co/auction/2025-janua...n-previewsiwow

[dariushou]

I'm not even sure how you got to that page. IF you go to the FAQs at the bottom of the page, you get to the link below and it is exactly what i posted.

https://goldin.co/faq

But lets dissect the wording of your link which i can't find on the website other than using your link. How did you get to the page you reference. Your link has the text "preview" -- was this something sent out in January?

"Lots that receive more than 1 bid before 09:00 PM on closing day will remain open for bidding for 30 additional minutes. The timer resets to 30 minutes with each new bid until the timer expires with no new bids."

The first sentence references lots before 9pm. How about in extended bidding? The next sentence you could infer that you are still talking about the individual lot, but it doesn't reference lot or auction in that last sentence. Why not be concise? The FAQ i referenced was not clear at all. Much less clear than what you posted and most would go to the FAQ at the bottom of the page. Still not sure how you get to your page if you go to goldin.co

[Peter_Spaeth]

Does it not say anywhere specifically that the auction closes lot by lot? If not, that seems strange.

[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?

[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

[4815162342]

Originally Posted by dariushou

I'm not even sure how you got to that page.

Home Page—>Auction Page—>Auction Details Page

[Gorditadogg]

Originally Posted by dariushou

"Extended Bidding - After an auction for an item closes, the auction will then enter an extended bidding window of 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. Extended bidding is open for everyone and for every item at auction. Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. So get your bids in early!"



Who in god's name writes this crap. You would think that Goldin would be very specific on how the auction works in extended bidding. Does Auction mean the entire auction or a lot by lot basis? When I read the above paragraph from the Golding FAQs, I read it as the entire auction is extended each time a bid is placed in the extended bidding time. This sentence: "Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions." Especially when other references to "Auction" in that paragraph reference the entire auction and not a lot...



Why not say each lot will be extended, but only that lot if it gets a bid in extended bidding... I mean seriously. You can read "auction" in that paragraph many different ways, but it would seem to me most of the time it is referring to the entire auction. I really don't understand why auctionhouses are not more concise when discussing extended bidding and how the auction works. There are just too many holes in that paragraph. I should have asked before, yes, but why leave it up to consumers when a few words would make it crystal clear.



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.



Ticked off collector

That's ridiculous. Within that paragraph, "auction" can mean either an individual lot or the entire event. Goldin goes back and forth between the two. Clear as mud.

Sent from my SM-S906U using Tapatalk

[Donscards]

I actually did like the auction format---I usually go to bed 10-1030 and If I win a lot fine, if not no problem--I went to bed last night at 1040, at that point I won 4 lots already ( I won 7 overall)--if a lot did not get a bid in 30 minutes, lot closed--I bid in auctions from day 1 and the last day, give my final push--There was alot of action all day yesterday in the auction. I consigned 11 lots and was pleased --some went higher than I expected, some on the nose and I lost on 2--I did win the Crofts Wagner, which I think was a buy. Anyway I do like Golden's format--I dont like auctions that go on forever like 2-3 in the morning.

[jayshum]

Originally Posted by dariushou

"Extended Bidding - After an auction for an item closes, the auction will then enter an extended bidding window of 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. Extended bidding is open for everyone and for every item at auction. Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. So get your bids in early!"

Who in god's name writes this crap. You would think that Goldin would be very specific on how the auction works in extended bidding. Does Auction mean the entire auction or a lot by lot basis? When I read the above paragraph from the Golding FAQs, I read it as the entire auction is extended each time a bid is placed in the extended bidding time. This sentence: "Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions." Especially when other references to "Auction" in that paragraph reference the entire auction and not a lot...

Why not say each lot will be extended, but only that lot if it gets a bid in extended bidding... I mean seriously. You can read "auction" in that paragraph many different ways, but it would seem to me most of the time it is referring to the entire auction. I really don't understand why auctionhouses are not more concise when discussing extended bidding and how the auction works. There are just too many holes in that paragraph. I should have asked before, yes, but why leave it up to consumers when a few words would make it crystal clear.

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.

Ticked off collector

I agree that the explanation is poor. However, what did the individual lots show about the amount of time remaining to bid on them? If that was counting down to 0 and not being extended, why did you not bid on them before the time got to 0?

[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?

[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.

[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.

[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.

[Vintage Vern]

Originally Posted by Peter_Spaeth

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

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.

[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.

[Vintage Vern]

Originally Posted by Mark17

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.

Sure they do. Live auction you know when time is up. Going once, going twice, sold. If you don't bid your time is up. Its up for all in the same manner. There's not a clocked time, but still a time frame in which to bid. If the auction says over by 10pm EST you ALWAYS have the chance to win as well.

You have the same right if it closes by clocked time as well. If someone has a higher bid you should have bid more vs trying to save money. Snipe is the chance you take vs giving your best or highest bid. You do so hoping to save yourself money. People have different approaches. Some put in one bid at their highest price and walk away. Others try to sneak a bid in hoping to save money vs being OK with their max bid. You win or lose the same in either scenario. My gripe is stay in one lane, and make sure its easy to understand the rules in place.

[Vintage Vern]

Originally Posted by Peter_Spaeth

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.

It doesn't appear to be the case by the OP and a few others. Maybe a better placment of rules may be in order? I know once a hammer drops its pretty simple as well.

[jayshum]

Originally Posted by Vintage Vern

Sure they do. Live auction you know when time is up. Going once, going twice, sold. If you don't bid your time is up. Its up for all in the same manner. There's not a clocked time, but still a time frame in which to bid. If the auction says over by 10pm EST you ALWAYS have the chance to win as well.

You have the same right if it closes by clocked time as well. If someone has a higher bid you should have bid more vs trying to save money. Snipe is the chance you take vs giving your best or highest bid. You do so hoping to save yourself money. People have different approaches. Some put in one bid at their highest price and walk away. Others try to sneak a bid in hoping to save money vs being OK with their max bid. You win or lose the same in either scenario. My gripe is stay in one lane, and make sure its easy to understand the rules in place.

For a live auction to be like eBay, there would have to be a list of times that every item ended at. As others have pointed out, that's not how they work. Yes, there's a time that a lot actually ends, but it's not predetermined because someone can always place another bid before the auctioneer declares a lot sold. Until then, you don't truly know when the lot will close.

Earlier you complained about shill bidders. That's a big reason why people don't want to place a maximum bid early then hope it holds up because they suspect someone else may just bid them up with no real intention of winning the auction. Having extended bidding gives a bidder the chance to keep bidding if they want to without having to place their maximum bid a lot sooner than necessary. While every auction house has their own rules, it usually doesn't take much effort to figure out when a lot is closing. Every auction I bid in shows the amount of time left for each individual lot, and it gets updated accordingly based on the rules of the auction if/when someone places another bid either on the lot or on another lot if the entire auction closes at the same time.

[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 !!)

[Vintage Vern]

Originally Posted by jayshum

For a live auction to be like eBay, there would have to be a list of times that every item ended at. As others have pointed out, that's not how they work. Yes, there's a time that a lot actually ends, but it's not predetermined because someone can always place another bid before the auctioneer declares a lot sold. Until then, you don't truly know when the lot will close.

Earlier you complained about shill bidders. That's a big reason why people don't want to place a maximum bid early then hope it holds up because they suspect someone else may just bid them up with no real intention of winning the auction. Having extended bidding gives a bidder the chance to keep bidding if they want to without having to place their maximum bid a lot sooner than necessary. While every auction house has their own rules, it usually doesn't take much effort to figure out when a lot is closing. Every auction I bid in shows the amount of time left for each individual lot, and it gets updated accordingly based on the rules of the auction if/when someone places another bid either on the lot or on another lot if the entire auction closes at the same time.

You know exactly when a lot is sold, and it is predetermined, not by a specific time, but a specific procedure for all, the same way, lot after lot. The high bidder wins by the exact same procedure.

A live auction can be over at the same time for every lot. You put your best bid in on 30 items and pray. Extending time won't help that if you get out bid anyway. If bidder A has a max bid of 10k will it change if the hammer drops at a set time vs adding time if bidder B puts in a bid for 11K? The winning bid will always be the highest bid.

May as well just start the auction and let people bid until no one bids again in a 30 minute period. Don't set a end time then extend it. Wouldn't that be the same result? To me you set a deadline then break it without clear cut understanding of how things work. That's what the main discussion is.

In my scenario it was a reserve auction that started at a buck and the shill bidder got the cards to the reserve they wanted. To me just start the bids at your reserve. They didn't try to out bid anyone passed the reserve. The people that hit the reserve won as long as no other bidder bid. The shill bidder knew what to push.

Ebay is kind of a unicorn anyway. They have multiple ways to the same end for both seller and buyer. You can even negotiate a price not listed. It's an auction and garage sale all in one. If you like the BIN price you can end it or you can take a risk and put in an opening bid and hope you win at the end and everything in-between.

The worst type of auction I've been involved in are silent auctions.

[benjulmag]

An auction that ends at a set time with no opportunity for a losing bidder to raise his/her bid by definition cannot achieve the highest price for the consignor. The reason I say "by definition" is because it is a human trait not to know how high we will bid until we are faced with the realization that we will not win the item unless we raise our bid. I can't tell you how many times I ended up placing a bid much higher than I originally intended when my "can't lose bid" had been topped.

I will add that not only is an auction that ends at a set time not in the best interest of the consignor, IMO it is not in the best interest of the bidder. I for one would like the satisfaction of knowing that if I am to end up losing the lot, it was at least via a bidding format that afforded me one last shot to top a bid or know I would not win it.

[oldjudge]

I agree with Corey. I want the opportunity to do something really stupid that I will undoubtedly question the next day, but may be happy about several years down the road. What I don’t like about the Goldin format is that I find it very difficult to find results after a lot closes. Why not just do what REA does and leave all the lots up for everyone to see.
.

[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

[kevlar7]

It seems clear to me. I like extended bidding. Lots should end when there is no more bidding. Regardless of whether or not you like Goldin’s format, it doesn’t change the fact that they have some fantastic item up for auction right now!

[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.

[Vintage Vern]

Originally Posted by benjulmag

An auction that ends at a set time with no opportunity for a losing bidder to raise his/her bid by definition cannot achieve the highest price for the consignor. The reason I say "by definition" is because it is a human trait not to know how high we will bid until we are faced with the realization that we will not win the item unless we raise our bid. I can't tell you how many times I ended up placing a bid much higher than I originally intended when my "can't lose bid" had been topped.

I will add that not only is an auction that ends at a set time not in the best interest of the consignor, IMO it is not in the best interest of the bidder. I for one would like the satisfaction of knowing that if I am to end up losing the lot, it was at least via a bidding format that afforded me one last shot to top a bid or know I would not win it.

That's on you. You have all the time in the world to bid higher before the auction ends. Maybe because you know you have a safety net you just hope to lowball a card in hopes you get it that way. People that truly want something, and know they only have 1 shot will bid their max, and call it a day. If most auctions had the same type format as Ebay you could bid high as you feel comfortable with and still not hit your max bid. I made a bid once and knew I had to do something at the end of auction time, and was glad I had that option. I won even though it went much higher then I expected, but was happy I won with my eary max bid.

[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

[doug.goodman]

Originally Posted by Vintage Vern

That's on you. You have all the time in the world to bid higher before the auction ends. Maybe because you know you have a safety net you just hope to lowball a card in hopes you get it that way. People that truly want something, and know they only have 1 shot will bid their max, and call it a day. If most auctions had the same type format as Ebay you could bid high as you feel comfortable with and still not hit your max bid. I made a bid once and knew I had to do something at the end of auction time, and was glad I had that option. I won even though it went much higher then I expected, but was happy I won with my eary max bid.

I always bid an amount higher than I want to pay so that I won't be disappointed if I lose.

And, in ebay style auctions I bid with a few seconds left (no software for me) so there is minimal time for anybody to bid again if they see that I have outbid them.

[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.

[Casey2296]

-
Goldin is not my cup o tea so I don't bid in his auctions, I do enjoy Heritage, REA, LOTG, and the smaller auction house closing procedures and the West Coast bias that comes with late night/early morning hammers.

Y'all get the National and we get to stay up 3 hours later than you, bathroom breaks not included.
-

[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.

[BobbyStrawberry]

Originally Posted by jayshum

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.

That would definitely be an improvement IMO.

[calvindog]

Originally Posted by oldjudge

I agree with Corey. I want the opportunity to do something really stupid that I will undoubtedly question the next day, but may be happy about several years down the road. What I don’t like about the Goldin format is that I find it very difficult to find results after a lot closes. Why not just do what REA does and leave all the lots up for everyone to see.
.

I agree with all of this, especially the end. Just too complicated to deal with at midnight after 5000 bids have been placed during extended bidding.

[dariushou]

I see a lot of good discourse here, but let me explain my situation and a direct response to 4815162342 (Daryl) after the response.

I would like to say that i'm not bashing any layout of an auction because I try to understand what i'm getting into before bidding. I signed up to bid in an auction and try to understand the rules of engagement before the big night. That was my issue with this auction, but more of that in a few.

My preference would be a pure auction like ebay where there is a set time and it is over when the timer runs out...no extended crap. My second preference would be a lot by lot closing once extended bidding occurs (goldin was this way, but not how i understood it when shit came to shove -- more on that later). My last preference is the entire auction extends after every bid...i'm on east coast so that sucks. Ok, so that's my preference if anyone cared.

So, in response to 4815162342 (Daryl). Thanks for the links. I have issue with that...well 3. here they are:

1) The path you provided is a very specific way to find out the rules of engagement once the extended bidding is underway. There are 2 ways to get to the link you provided. a) By going to the home page, scrolling down and clicking on the exact auction you plan on bidding and then there is a link that has a brief description of how the auction works in extension mode. B) go to the homepage and click on the "Auction" menu item and think clicking on "Elite". Then you have to unclick the other Elite auctions that do not pertain to the auction that you are looking to bid on and you have to unclick the other auctions one at a time until your auction is the only one selected. It is a very specific way to get to a very basic question of how the auction works. Most auctionhouses have a terms and conditions (TOC) a the bottom of every single page that allows you to see just that. Goldin has a FAQs at the bottom of every single page that serves the same purpose. Every single page has an easy access versus a very specific path as you outline. ok, on to #2

2) If you compare the words in link you provided against the FAQs (i provide both directly below this paragraph so you don't need to scroll up) then you can conclude that they are in direct contrast or both are completely unclear.


Link of the FAQs:

"Extended Bidding - After an auction for an item closes, the auction will then enter an extended bidding window of 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. Extended bidding is open for everyone and for every item at auction. Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. So get your bids in early!"

Link of what Daryl provided:

"Lots that receive more than 1 bid before 09:00 PM on closing day will remain open for bidding for 30 additional minutes. The timer resets to 30 minutes with each new bid until the timer expires with no new bids."

3) If you are like me, when the auction first launches, you go to the auction and put in your initial bids on the auctions you may like to bid on once the auction hits extended bidding hours. During the final day of the auction, you are NOT going to the main page of an auction. You are going to your account and you are going to the link that shows the items you are bidding on. It is not like you are going to sit there and scroll through a needle in a haystack and look for the items you are bidding on. You are going to YOUR bidding list. And, if you want to find the rules of engagement at that point, you are going to the TOC or FAQs at the bottom of every damn page. simple and efficient.

So here was my situation. I'm travelling in Mexico on vacation. I specifically went to their FAQs before i went out so that I knew exactly what to expect in the Auction. It was clear TO ME that every time a bid was placed in the auction that the entire auction was extended for 30 minutes (i hate those type of auctions, but i signed up for it - or i thought i had). So i was at a restaurant and it was approaching 9:30 EST and i put in a bid to extend the entire auction (or i thought i had) and checked one more auction and it too was on a 29 minute and some few seconds so I thought "cool, looks like any bid placed extended the entire auction by 30 minutes"). Yes, i hate that too. Way to much advantage to the west coast if you ask me. Anyhow, i get home and pull up the auction which i thought was extended and find out that i only have like 5 auctions left to bid on. PISSED does not describe it. Anyhow, i won all but one of those 5, but would have won a lot more...T206 rare backs....


So that is my story and why that description from Goldin was b.s. Seriously, that should be one of the most important things the auctionhouse lays out VERY CLEARLY. And it should be consistent to other areas of the website. In fact, a good clear example should be in order too. Honestly, how that is overlooked is beyond me and i'll gladly write up something that makes it abundantly clear on how it works but Jesus Christ, how do you not do this for yourself is beyond me. It takes no longer than 10 minutes to write something is clear and you (Goldin) is inexcusable. Do i bid on other Goldin Auctions? I first have to see what you have to offer. I'm very less inclined to even look now and i'm a stubborn SOB.

-Darius

[gst6]

The N284s went for less than I was expecting, so maybe others were thrown off too. Or maybe everyone's saving their money for REA. I was only watching a few lots during extended bidding, so I was able to keep up with the countdown clocks decently enough.

[4815162342]

Originally Posted by dariushou

I see a lot of good discourse here, but let me explain my situation and a direct response to 4815162342 (Daryl) after the response.

I would like to say that i'm not bashing any layout of an auction because I try to understand what i'm getting into before bidding. I signed up to bid in an auction and try to understand the rules of engagement before the big night. That was my issue with this auction, but more of that in a few.

My preference would be a pure auction like ebay where there is a set time and it is over when the timer runs out...no extended crap. My second preference would be a lot by lot closing once extended bidding occurs (goldin was this way, but not how i understood it when shit came to shove -- more on that later). My last preference is the entire auction extends after every bid...i'm on east coast so that sucks. Ok, so that's my preference if anyone cared.

So, in response to 4815162342 (Daryl). Thanks for the links. I have issue with that...well 3. here they are:

1) The path you provided is a very specific way to find out the rules of engagement once the extended bidding is underway. There are 2 ways to get to the link you provided. a) By going to the home page, scrolling down and clicking on the exact auction you plan on bidding and then there is a link that has a brief description of how the auction works in extension mode. B) go to the homepage and click on the "Auction" menu item and think clicking on "Elite". Then you have to unclick the other Elite auctions that do not pertain to the auction that you are looking to bid on and you have to unclick the other auctions one at a time until your auction is the only one selected. It is a very specific way to get to a very basic question of how the auction works. Most auctionhouses have a terms and conditions (TOC) a the bottom of every single page that allows you to see just that. Goldin has a FAQs at the bottom of every single page that serves the same purpose. Every single page has an easy access versus a very specific path as you outline. ok, on to #2

2) If you compare the words in link you provided against the FAQs (i provide both directly below this paragraph so you don't need to scroll up) then you can conclude that they are in direct contrast or both are completely unclear.


Link of the FAQs:

"Extended Bidding - After an auction for an item closes, the auction will then enter an extended bidding window of 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. Extended bidding is open for everyone and for every item at auction. Each additional bid placed will extend the auction timer by 30 minutes for Elite Auctions and 15 minutes for Weekly Auctions. So get your bids in early!"

Link of what Daryl provided:

"Lots that receive more than 1 bid before 09:00 PM on closing day will remain open for bidding for 30 additional minutes. The timer resets to 30 minutes with each new bid until the timer expires with no new bids."

3) If you are like me, when the auction first launches, you go to the auction and put in your initial bids on the auctions you may like to bid on once the auction hits extended bidding hours. During the final day of the auction, you are NOT going to the main page of an auction. You are going to your account and you are going to the link that shows the items you are bidding on. It is not like you are going to sit there and scroll through a needle in a haystack and look for the items you are bidding on. You are going to YOUR bidding list. And, if you want to find the rules of engagement at that point, you are going to the TOC or FAQs at the bottom of every damn page. simple and efficient.

So here was my situation. I'm travelling in Mexico on vacation. I specifically went to their FAQs before i went out so that I knew exactly what to expect in the Auction. It was clear TO ME that every time a bid was placed in the auction that the entire auction was extended for 30 minutes (i hate those type of auctions, but i signed up for it - or i thought i had). So i was at a restaurant and it was approaching 9:30 EST and i put in a bid to extend the entire auction (or i thought i had) and checked one more auction and it too was on a 29 minute and some few seconds so I thought "cool, looks like any bid placed extended the entire auction by 30 minutes"). Yes, i hate that too. Way to much advantage to the west coast if you ask me. Anyhow, i get home and pull up the auction which i thought was extended and find out that i only have like 5 auctions left to bid on. PISSED does not describe it. Anyhow, i won all but one of those 5, but would have won a lot more...T206 rare backs....


So that is my story and why that description from Goldin was b.s. Seriously, that should be one of the most important things the auctionhouse lays out VERY CLEARLY. And it should be consistent to other areas of the website. In fact, a good clear example should be in order too. Honestly, how that is overlooked is beyond me and i'll gladly write up something that makes it abundantly clear on how it works but Jesus Christ, how do you not do this for yourself is beyond me. It takes no longer than 10 minutes to write something is clear and you (Goldin) is inexcusable. Do i bid on other Goldin Auctions? I first have to see what you have to offer. I'm very less inclined to even look now and i'm a stubborn SOB.

-Darius

They also sent out this email when extended bidding started:



Regardless, I’m sorry to hear you missed out on those lots; I would be upset too.

[Gorditadogg]

Originally Posted by 4815162342

They also sent out this email when extended bidding started:



Regardless, I’m sorry to hear you missed out on those lots; I would be upset too.

If your point is that Goldin says different things in different places, and that you need to read a bunch of explanations to get enough of a consensus to be confident of what the rules are, than I agree with you.

Sent from my SM-S906U using Tapatalk

[4815162342]

Originally Posted by Gorditadogg

If your point is that Goldin says different things in different places, and that you need to read a bunch of explanations to get enough of a consensus to be confident of what the rules are, than I agree with you.

Sent from my SM-S906U using Tapatalk

I believe you are stating the OP’s point.

[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 😂

[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.

[Gorditadogg]

Originally Posted by 4815162342

I believe you are stating the OP’s point.

No, I don't think so. His point was that Goldin's explanations are confusing and misleading. Your point is that if you make it a research project, you can get to the right answer. I agree with you both, but they are different points.

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