Robert Edwards Auctions STILL going strong at 8:15 AM Est!!!!

[Leon]

Originally Posted by Bobbycee

I just received notice that I was outbid on an item. How is this possible if the auction doesn't open back up until 9 EST tonight? WTF?

It is open now to all bidders who previously bid. No one can bid on a lot they haven't already bid on but it is open otherwise, per their rules.


Mark, I can guarantee you this was not a planned situation. It is a nightmare for auction houses when these things happen.
.

[Mark17]

Originally Posted by Leon

It is open now to all bidders who previously bid. No one can bid on a lot they haven't already bid on but it is open otherwise, per their rules.


Mark, I can guarantee you this was not a planned situation. It is a nightmare for auction houses when these things happen.
.

"Nightmare?" They will profit nicely from this nightmare.

Not saying it was planned, but they sure found a way to take advantage of the situation.

[Aquarian Sports Cards]

Originally Posted by Mark17

"Nightmare?" They will profit nicely from this nightmare.

Not saying it was planned, but they sure found a way to take advantage of the situation.

I think people vastly overestimate the "advantage" a situation like this brings to the auction company. For every person who decides to throw a few bids they might not have (which really doesn't make much sense) there are several who might have still been interested in bidding yesterday who are pissed and won't bid today.

But let's spitball and make up a number. Let's say this adds something crazy like $250k in bids that they WOULDN'T have gotten yesterday. That would likely add about $62,500 to REA's bottom line. Does anyone REALLY think this hassle, bad publicity, pissed off buyers AND consignors (consignors like things to go as planned, period) and aggravation is worth $62,500 to REA?

[lug-nut]

Originally Posted by Aquarian Sports Cards

I think people vastly overestimate the "advantage" a situation like this brings to the auction company. For every person who decides to throw a few bids they might not have (which really doesn't make much sense) there are several who might have still been interested in bidding yesterday who are pissed and won't bid today.

But let's spitball and make up a number. Let's say this adds something crazy like $250k in bids that they WOULDN'T have gotten yesterday. That would likely add about $62,500 to REA's bottom line. Does anyone REALLY think this hassle, bad publicity, pissed off buyers AND consignors (consignors like things to go as planned, period) and aggravation is worth $62,500 to REA?

Yep! looks like someone pulled the plug

[Mark17]

Originally Posted by Aquarian Sports Cards

I think people vastly overestimate the "advantage" a situation like this brings to the auction company. For every person who decides to throw a few bids they might not have (which really doesn't make much sense) there are several who might have still been interested in bidding yesterday who are pissed and won't bid today.

But let's spitball and make up a number. Let's say this adds something crazy like $250k in bids that they WOULDN'T have gotten yesterday. That would likely add about $62,500 to REA's bottom line. Does anyone REALLY think this hassle, bad publicity, pissed off buyers AND consignors (consignors like things to go as planned, period) and aggravation is worth $62,500 to REA?

I am not saying the entire "situation" is an advantage to the AH. What I am saying is, to use your numbers:

1. Server crashed. Accident that is a bummer for everyone.
2. Auction SHOULD resume the next evening from the point where it crashed, in other words, as lots are going into individual 10 minute rule.
3. REA instead opens up the auction all day today and puts that estimated $62,500 in their pocket, and lots of smiles on the faces of their consigners.

So, in your scenario, my issue is with that marginal $62.5k garnered by adding another day to the auction needlessly.

To be clear, I honestly believe REA would've rather had the servers stay up and things work as expected. But when they didn't, there was no valid excuse to pad the bidding time by an extra day.

[oldjudge]

And I bet the number is a lot less that $250k. Most of the bids coming in today are ones that would have been made last night if the system didn’t have issues. I would trust Brian to hold my wallet, which is something I can say about very few people in the world. I trust he made the best decision for all involved.

[Carter08]

Just flat out unacceptable. Personal opinion.

[Aquarian Sports Cards]

Originally Posted by Mark17

To be clear, I honestly believe REA would've rather had the servers stay up and things work as expected.

There seemed to be some arguing otherwise. Sounds like we're in agreement though.

[jonvancouver]

I JUST now got outbid on the lot I was winning.
Such fkn bullshit.

[Orioles1954]

This thread is truly gold.

[Aquarian Sports Cards]

Originally Posted by jonvancouver

I JUST now got outbid on the lot I was winning.
Such fkn bullshit.

Again I ask why would you assume that person wouldn't have bid yesterday if everything had been working. Oddly enough a lot of bids normally come in at that time that didn't. The assumption that this is activity that wouldn't have happened otherwise is odd. We don't know one way or the other for sure, but the idea that this added time suddenly made people want to spend more certainly seems to be the opposite reaction to the one almost everyone on Net54 is having.

[Carter08]

Originally Posted by Aquarian Sports Cards

There seemed to be some arguing otherwise. Sounds like we're in agreement though.

They didn’t do it intentionally. Not sure I’m giving a round of applause for that.

[hcv123]

1) I wholeheartedly believe this was unintentional. I also agree it is a crappy situation with no possible positive outcome for everyone.
2) I agree with others who have commented that the auction should have been restarted at whatever point (9PM is fine) from where we left off yesterday at the 10 minute closing rather than having an entire day of additional bidding.
3) There is A LOT of psychology to bidding and auctions - the argument that "people will bid what they would have bid" holds no water with me. If someone gets outbid - the more time they have to think about it, the greater likelihood there is that they will place a bid they would not otherwise have placed if not given the time to think. This is certainly not on every item, but will occur on many lots. If this wasn't a factor "sniping" wouldn't exist.
4) The thing that bothers me most was the lack of communication between ~12AM and 1:14AM - The clock was counting down on each lot - I and others were permitted to place bids without clarity on whether the auction would end last night or be pushed till today. I placed bids in that time period thinking there was a chance the auction would close according to the clocks that were counting down. At 1:14 well over an hour after the problem started the email went out saying the auction would be extended. Fairer (imo) would have been to "pause the auction" closer to when the problem began until a decision was made and clearly communicated with everyone.

[earlywynnfan]

Originally Posted by Mark17

I am not saying the entire "situation" is an advantage to the AH. What I am saying is, to use your numbers:

1. Server crashed. Accident that is a bummer for everyone.
2. Auction SHOULD resume the next evening from the point where it crashed, in other words, as lots are going into individual 10 minute rule.
3. REA instead opens up the auction all day today and puts that estimated $62,500 in their pocket, and lots of smiles on the faces of their consigners.

So, in your scenario, my issue is with that marginal $62.5k garnered by adding another day to the auction needlessly.

To be clear, I honestly believe REA would've rather had the servers stay up and things work as expected. But when they didn't, there was no valid excuse to pad the bidding time by an extra day.

Is it safe to assume you haven't put any bids in today, nor will you?

[Mark17]

Originally Posted by earlywynnfan

Is it safe to assume you haven't put any bids in today, nor will you?

I haven't. My max bid was pushed to the limit this morning at 7 AM.

I keep thinking about what Peter always says: "Stuff trumps all." I want to be principled and walk away. On the other hand, I really did want to win my item.

In answer to your next question, yes, it's weird having Peter living in my head.

[Peter_Spaeth]

Originally Posted by Mark17

I haven't. My max bid was pushed to the limit this morning at 7 AM.

I keep thinking about what Peter always says: "Stuff trumps all." I want to be principled and walk away. On the other hand, I really did want to win my item.

In answer to your next question, yes, it's weird having Peter living in my head.

As long as I am there, I urge you to try to win the item you want, I see no great principle involved here, the AH did its best with a shitty turn of events.

[babraham]

Originally Posted by Mark17

To be clear, I honestly believe REA would've rather had the servers stay up and things work as expected. But when they didn't, there was no valid excuse to pad the bidding time by an extra day.

Agreed.
I'm down to currently winning 2 lots (it was 4 before the server issues last night)...and those 2 lots have gone up $1500 combined today (so far) with the added "bonus" of an entire extra day of extended bidding. Cosigner and AH happy...potential buyer not so happy.