Christie's Baseball Auction Closing Procedures

[Snapolit1]

Lots close on an individual basis, pursuant to a 3 minute rule.

Mmmmm. Somehow the world's largest auction house, which does probably more than 8 billion a year in revenue, hasn't gotten the memo that they should keep their entire auction open until 6am to catch the spirited bidding that takes place in the wee hours and nowhere else.

Does anyone think Christie's has less information on how to run an auction to maximize values than your typical baseball memorabilia AH?

Seems pretty simple no?

17. When do lots close?

A countdown clock is displayed for each lot on the lot description page. In order to achieve the best possible results in our online-only sales and to make the bidding process as fair and manageable as possible for all prospective bidders, Christie’s has implemented lot bidding extensions. Where there is bidding activity on a particular lot within 3 minutes (180 seconds) prior to the lot's allocated closing time, there will be a 3 minute bidding extension on that lot until only one bidder remains. These extensions will continue indefinitely until there is no more bidding activity on the lot for a period of 3 minutes (180 seconds) implying that there is no further interest. This extra time is designed to accommodate interested bidders and allow them the time to compete for a lot until their ceiling has been reached. This is also designed to avoid the last-minute rush where bidders log onto Christie’s at the end of the online-only sale in an effort to leave a single winning bid seconds before the sale's closing time. This is called sniping and is considered unfair practice to both buyers and sellers and the lot bidding extension has been designed to avoid this. Please note that the extension of one lot’s closing time does not affect other lots’ closing times; therefore it is possible that lots will close out of numerical lot order.

[Stonepony]

Why don't you call Al at LOTG rather than posting another snide post directed at his auction format. He's very accessible and his phone # and email or at his website.

[Snapolit1]

Originally Posted by Stonepony

Why don't you call Al at LOTG rather than posting another snide post directed at his auction format. He's very accessible and his phone # and email or at his website.

Not directed at anyone. Three auctions closed last week. And we go through this charade with nearly all of them. Craziness.

And I will take a wild guess that I have given Al more business in the last 6 months as both a consignor and bidder than you have. So spare me the sanctimonious ass kissing.

[Bicem]

To be fair, I wouldn't use Christie's as the model for all AH's to follow. Closing lots during the morning on weekdays, 25% BP, outrageous shipping, leaving out vital details in the descriptions, selling type 2 photos as originals, etc.

[gnaz01]

Originally Posted by Bicem

outrageous shipping.

I did notice that, on one flat item shipping was $164???

[RedsFan1941]

Well, they're the biggest auction house in the universe, so shipping charge has to be right.

[Snapolit1]

Most of the items in Christies will sell for over $5000. Many over $20,000. They are not PWCC. They are shipping museum pieces, not Gregg Jeffries refractor cards.

Not to hurt anyone's feelings, but if $164 is a big issue you are not probably bidding in their auction.

[Snapolit1]

This isn't shipping for $12.99. Hate to break the news.

[gnaz01]

Originally Posted by Snapolit1

Not to hurt anyone's feelings, but if $164 is a big issue you are not probably bidding in their auction.

Seriously??? No, $164 isn't a big issue, however, to ship a 4x5 inch photo that "may" sell for $2,000 (I know, if 2 people get into a pissing match it will garner more) FedEx does NOT cost this. I can get a plane ticket there and back to pick it up in person cheaper, so please.........

[Vintageclout]

Originally Posted by Bicem

To be fair, I wouldn't use Christie's as the model for all AH's to follow. Closing lots during the morning on weekdays, 25% BP, outrageous shipping, leaving out vital details in the descriptions, selling type 2 photos as originals, etc.

+1 Jeff!

[Kingcobb]

I don't get the shipping charges. They are saying $143.00 shipping for a graded $500 Cracker Jack card is this correct or am I missing something?

[Snapolit1]

Originally Posted by Kingcobb

I don't get the shipping charges. They are saying $143.00 shipping for a graded $500 Cracker Jack card is this correct or am I missing something?

Their shipping costs are very high. That's because they are an art auction that once every couple of years sells baseball stuff. So you are paying for what the worlds top art house usually charges. In some cases its total overkill and absurd and in many cases it's absolutely required.

I bought this last year. $165 was a gift for shipping.

[barrysloate]

My initial bids are getting topped and I am not receiving any outbid notices. I guess you have to stay on top of this one.

[Snapolit1]

Originally Posted by barrysloate

My initial bids are getting topped and I am not receiving any outbid notices. I guess you have to stay on top of this one.

You should look into that. I am.

[Bicem]

Christie's shipping is outrageous regardless if you can afford it or not. $500+ in multiple instances for $20k worth of winnings.

I've shipped $20k items before and shipping was a fraction of that. Hopefully this year is better.

[BeanTown]

Originally Posted by barrysloate

My initial bids are getting topped and I am not receiving any outbid notices. I guess you have to stay on top of this one.

Hey Barry,

Most of mine have got topped and I did relieve the outbid email. Check your junk folder. On a side note, You may want to do some pickups for Net54 winners and do a reasonable markup which will have to include the 9% NY tax.

[Leon]

Originally Posted by Bicem

To be fair, I wouldn't use Christie's as the model for all AH's to follow. Closing lots during the morning on weekdays, 25% BP, outrageous shipping, leaving out vital details in the descriptions, selling type 2 photos as originals, etc.

They should really mention if they are type 2s. Fortunately, nothing I have to have in this auction.

[MVSNYC]

Barry...Uber.



PS- I don't buy that logic- Well, if you buy a $20,000 item you can afford $500 in shipping, or they package items so professionally, etc...

Al does some of the best packaging in the business and it's very inexpensive...or look at REA- free shipping!

[barrysloate]

I'm a subway guy Michael.

[gnaz01]

Originally Posted by Snapolit1

Lots close on an individual basis, pursuant to a 3 minute rule.

Mmmmm. Somehow the world's largest auction house, which does probably more than 8 billion a year in revenue, hasn't gotten the memo that they should keep their entire auction open until 6pm to catch the spirited bidding that takes place in the wee hours and nowhere else.

Does anyone think Christie's has less information on how to run an auction to maximize values than your typical baseball memorabilia AH?

Seems pretty simple no?

17. When do lots close?

A countdown clock is displayed for each lot on the lot description page. In order to achieve the best possible results in our online-only sales and to make the bidding process as fair and manageable as possible for all prospective bidders, Christie’s has implemented lot bidding extensions. Where there is bidding activity on a particular lot within 3 minutes (180 seconds) prior to the lot's allocated closing time, there will be a 3 minute bidding extension on that lot until only one bidder remains. These extensions will continue indefinitely until there is no more bidding activity on the lot for a period of 3 minutes (180 seconds) implying that there is no further interest. This extra time is designed to accommodate interested bidders and allow them the time to compete for a lot until their ceiling has been reached. This is also designed to avoid the last-minute rush where bidders log onto Christie’s at the end of the online-only sale in an effort to leave a single winning bid seconds before the sale's closing time. This is called sniping and is considered unfair practice to both buyers and sellers and the lot bidding extension has been designed to avoid this. Please note that the extension of one lot’s closing time does not affect other lots’ closing times; therefore it is possible that lots will close out of numerical lot order.

I don't think keeping an auction open until 6pm catches the "wee hours" Sorry, just being a smart a$$

[GaryPassamonte]

As a retired buyer that lives in NYS who is only interested in one lot, I like the format. I don't like the BP or the shipping costs, but I just factor that into my lot cost.

[bigfish]

Originally Posted by Snapolit1

Lots close on an individual basis, pursuant to a 3 minute rule.

Mmmmm. Somehow the world's largest auction house, which does probably more than 8 billion a year in revenue, hasn't gotten the memo that they should keep their entire auction open until 6am to catch the spirited bidding that takes place in the wee hours and nowhere else.

Does anyone think Christie's has less information on how to run an auction to maximize values than your typical baseball memorabilia AH?

Seems pretty simple no?

17. When do lots close?

A countdown clock is displayed for each lot on the lot description page. In order to achieve the best possible results in our online-only sales and to make the bidding process as fair and manageable as possible for all prospective bidders, Christie’s has implemented lot bidding extensions. Where there is bidding activity on a particular lot within 3 minutes (180 seconds) prior to the lot's allocated closing time, there will be a 3 minute bidding extension on that lot until only one bidder remains. These extensions will continue indefinitely until there is no more bidding activity on the lot for a period of 3 minutes (180 seconds) implying that there is no further interest. This extra time is designed to accommodate interested bidders and allow them the time to compete for a lot until their ceiling has been reached. This is also designed to avoid the last-minute rush where bidders log onto Christie’s at the end of the online-only sale in an effort to leave a single winning bid seconds before the sale's closing time. This is called sniping and is considered unfair practice to both buyers and sellers and the lot bidding extension has been designed to avoid this. Please note that the extension of one lot’s closing time does not affect other lots’ closing times; therefore it is possible that lots will close out of numerical lot order.

I think this auction house is doing just fine. If you don't like their rules I guess you can decide not to bid? Or you can become a consultant for them. Objective- to improve their business practices. Either way I hope you have a cheerful rest of the week.

Cheers