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Why the extended bidding?
I keep reading about auction houses and “extended bidding” what’s the reason for it? Why not just say the auction ends on X date and time and high bid wins it? I continually read horror story after horror story about these auctions and it seems to always involve “extended bidding”. I always buy off eBay and here on the BST so my knowledge on auction houses is pretty non existent, hence my question.
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#3
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Because a live auction doesn't just cut off bidding at a given time, it runs until there is no bidding on an item. Extended bidding is the way to most closely mimic that without an auction taking several days to end, as it would if you closed thousands of lots in order waiting until you had no bids on a given lot to move on to the next one.
Also if you think there's problems now just wait until you see the server crashes with a fixed time ending. literally EVERYONE will be trying to jam last second snipes down the server's throat. It would be a disaster of epic proportions.
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Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions Last edited by Aquarian Sports Cards; 05-04-2022 at 05:28 AM. |
#4
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It's to promote the sales price, and having the whole auction open until there arent any bids is the epitome of stupidity. Buyers put up with it, until they dont.
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"Trolling Ebay right now" © Always looking for signed 1952 topps as well as variations and errors |
#5
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Of course these aren't in the sports genre, but I don't think you could get card guys to sit through a 12 hour auction and they would be pissed at missing out on what the other two auctioneers were selling simultaneously in a sale of that nature. I come from a live auction background. When I was still doing live auctions 500 was our absolute limit as that took about 5 hours from beginning of auction until end of check out, and even then we would start to lose our crowd. People say "to make the consignors and the auction more money" as if that wasn't the purpose of live auctions in the first place. Again the reason online auctions run the way they do is to mimic a live auction more closely. The purpose of the auction format was always to make consignors and the auction company more money. Finally I couldn't agree more with the complaint about an entire auction staying open until no item has a bid. THAT is NOT anything to do with how auctions have run pre-internet. I can't imagine being on lot 300 of a live auction and someone yelling out I bid $450 on lot 32!
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Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions |
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#7
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There are a couple of companies that don't specialize in sports that do this as well. I love them because they are usually places to snap up bargains.
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions Last edited by Aquarian Sports Cards; 05-04-2022 at 07:35 AM. |
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Hunt usually has around 1000 lots. They have pre-bidding for several weeks on their website which ends the night before the live online auction takes place so there are already bids on lots which is where the bidding starts at. The live online auction part that I have done for Hunt is through invaluable.com.
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Jinx, you owe me a coke.
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions |
#11
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Scott, remind me at the next Philly Show.
I guess it took me a while from when I opened the thread to when I responded since when I was looking at the thread, your response wasn't there. |
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In the words of Martha Stewart. ‘It’s a good thing.’ Butch
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“Man proposes and God disposes.” U.S. Grant, July 1, 1885 Completed: 1969 - 2000 Topps Baseball Sets and Traded Sets. Senators and Frank Howard fan. I collect Topps baseball variations -- I can quit anytime I want to.....I DON'T WANT TO. |
#13
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Only thing is just wish some Auction Houses limited the extended bid better so it does not sometimes go until 4am, 5am or longer
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Thanks all Jeff Kuhr https://www.flickr.com/photos/144250058@N05/ Looking for 1920 Heading Home Ruth Cards 1917-20 Felix Mendelssohn Babe Ruth 1921 Frederick Foto Ruth Joe Jackson Cards 1916 Advertising Backs 1910 Old Mills Joe Jackson 1914 Boston Garter Joe Jackson 1915 Cracker Jack Joe Jackson 1911 Pinkerton Joe Jackson Shoeless Joe Jackson Autograph |
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