Closing Tonight: Love of the Game Auctions

[Stonepony]

Originally Posted by Snapolit1

The entire premise of this closing method, as far as I can discern, is just dumb. The idea is a bidder has a sum of money in play in the auction and, if he gets outbid at 4 am, will suddenly spring into action and deploy that money on other items he is qualified to bid on in the after hours session. Seems ludicrous for a number of reasons. First of all, many people like me go to bed and aren't paying attention to anything at 4 or 5 am other than badly needed sleep. Second, even though I bid early on items doesn't mean I still want them two weeks later. Third, closing eBay style on a sat night is a good way of having a frenzied close of bidding and catching people who will pay a premium to wrap it up and get certainty. Maybe people who just knocked off a few glasses of wine. It just makes so little sense. And if any sense. 15 minute rule per lot is simple enough.

Bliggety won 2 cards due to this " dumb" closing

[Gradedcardman]

Start your own auction house and set the rules to appeal to everyone. Good luck with that. It is what it is, don't like it then move on to Heritage only, BST here or ebay. So much whining lately.

[Snapolit1]

Originally Posted by Gradedcardman

Start your own auction house and set the rules to appeal to everyone. Good luck with that. It is what it is, don't like it then move on to Heritage only, BST here or ebay. So much whining lately.

Why is expressing an opinion whining? Please explain. I thought expressing opinions was the point of these boards.

[botn]

Originally Posted by Snapolit1

Why is expressing an opinion whining? Please explain. I thought expressing opinions was the point of these boards.

This. I guess the answer is when that opinion is not shared by the other person, which is also pretty silly. Wasn't his post whining?

[Snapolit1]

Yep. Same kind of idiocy that has swept the country. Shorthand for I don't share your opinion.
Usually presented in some pseudo enlightened "I'm above all this" voice like this dude.
Care about what I care about? Heroic. Feel some other way? Whining.

[mechanicalman]

I actually view the comments in this thread as market feedback to the owner of the AH, who is an active member of the board. Many companies pay good money to conduct consumer research, so I would presume the comments on either side might have value to the OP as he seeks to grow and optimize his business. What he chooses to do with the feedback, of course, is his discretion.

[Gradedcardman]

Originally Posted by Snapolit1

Yep. Same kind of idiocy that has swept the country. Shorthand for I don't share your opinion.
Usually presented in some pseudo enlightened "I'm above all this" voice like this dude.
Care about what I care about? Heroic. Feel some other way? Whining.

I appreciate your opinion for sure. Its the way I read it and that's it. I don't like the closes either but don't have the time r ambition to start an auction company. Just seems this forum is getting to more of a bitch session than anything.

Oh well...It happens

[BeanTown]

Brian, those were the days with the land lines and the all nighter auctions. The only thing you left out is how they kept up with the bids.... It was on the chalk board on the wall. Then if you requested a call back, you would get a ringing phone call in the middle of the night. Glad we have progressed from those kind of auctions 20 years ago.

Al, You run a great auction and work harder than most auctioneers. You are a one man show and I would love to see you add another member or two to your team. Have to agree with all the other posters on the Spirited bidding. Spirited bidding will occur whatever time the auction is about ready to close. Many serious buyers just wait until last call or the fair warning email. I don't believe you are doing the consignors a favor by not creating bidding wars when everyone is awake and alert. Spirited bidding happens at REA from 1130-1200. Spirited bidding happens at Heritage from 11-1130, and Spirited bidding happens at Huggins and Hunt from 10-1030pm. What do you think they all have in common????

(Answer) all the bidders know when to be on their smart device/computor to bid. Let the war begin which doesn't favor collectors/dealers who live in a certain timeframe.

[Bliggity]

Originally Posted by Stonepony

Bliggety won 2 cards due to this " dumb" closing

If I didn't always have to get up to go to the bathroom in the middle of the night, I'd lose a lot more auctions

[Peter_Spaeth]

Originally Posted by Stonepony

Bliggety won 2 cards due to this " dumb" closing

And if the rules were different he might have adjusted his strategy accordingly and still won. And by your logic, maybe Al should have run it until 10AM today to pick up more guys who woke up later than Dan only to find they were shut out of Memory Lane. In fact, why ever end it, there always could be one more bid.

[Stonepony]

Originally Posted by Peter_Spaeth

And if the rules were different he might have adjusted his strategy accordingly and still won. And by your logic, maybe Al should have run it until 10AM today to pick up more guys who woke up later than Dan only to find they were shut out of Memory Lane. In fact, why ever end it, there always could be one more bid.

I was just stating a fact, logical or not.

[BeanTown]

Makes to much sense to have all the bidders at their computer with a firm time of when the 15or 20 minute clock will start on each lot. Having all active bidders ready and logged in should create bidding wars. Yes HA, Huggins and Scott, Brockleman, and even Hunt have figured this out with closing lots individually.

Nothing like giving an advantage to West Coast collectors. Hope everyone uses the optional text messaging for when you are outbid. Nothing like getting woke up at 4 or 5 AM saying you've been outbid.

[Snapolit1]

I know the AH response is always "put in a max bid and you have nothing to worry about". But I'm generally not happy putting in max bids. Many times they have worked out fine, but I don't love putting a marker down that I will pay hundreds or even thousands more that the then winning bid. Not saying anyone isn't honest but, well, there are people in this business I don't trust as far as I can throw them. Not Al C. who a fair player and an excellent all around dude.

[prewarsports]

Not a plug in any way whatsoever, but when we first started RMY Auctions we had the traditional closing times as others, letting the 15 minute rule end the auction. Our first auction went to 6:30 am the next morning and I knew something had to change as it was just crazy. I like my sleep as much as the next guy and we started the 15 minute rule with a hard closing time if it goes to that point and could not be happier. Extended bidding still runs for around 6 hours to thin the herd but you know exactly when the auction will close and everyone gets some sleep. I was worried when we first started doing it that somehow we would regret it, but for us it has been a win-win for everyone involved. Just my 2 cents as I also hate the all night thing from a bidders standpoint.

[tombocombo]

This method plays on emotionally tired people! Typically rational, and logical decisions are difficult at best at 4:30 a.m. Sending emails at 1:54 am and 5:55 am to stimulate further bidding? If this were a once a year auction with many exciting lots done solely on an annual basis, maybe this would generate a buzz and fun filled night. I'd even order a late night pizza! Realistically I will need two, or three days to sync back to regular sleep. The current LOTG format does have a future, just has to be refined. At 15 pulling an all nighter was intriguing, at 52 maybe not so appealing. With all due respect my opinion on this matter may seem harsh; however if some of the suggestions are at least thought out it would be much appreciated.
tom killeen

[Snapolit1]

Originally Posted by Stonepony

Bliggety won 2 cards due to this " dumb" closing

I won something too. That doesn't make the closing time any less ridiculous.