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-   -   REA Fall Auction Ends TODAY With New 12 PM Noon Eastern Deadline For Initial Bids! (http://www.net54baseball.com/showthread.php?t=230478)

spacktrack 10-28-2016 11:50 AM

REA Fall Auction Ends TODAY With New 12 PM Noon Eastern Deadline For Initial Bids!
 
Hi Everyone,

Just a reminder that the REA Fall Auction ends this Sunday, October 30 utilizing our new closing method designed to conduct extended bidding, and ultimately the auction close, during more reasonable hours when everyone is more likely to be awake (no more 5 AM closes).

A few important reminders:

You can visit and browse the auction on our website at any time.

Initial bids MUST be placed by 12 PM Noon Eastern (9 AM Pacific) on SUNDAY, October 30. IF you have not bid on an item prior to Noon, you may not bid on it during extended bidding after Noon.

If you are not registered to bid, you may still do so by filling out our registration form.

The entire auction ends at once; items do not end lot by lot or individually (unless an item has received only one bid entering extended bidding).

Bidding will continue until no bids have been placed for a period of 15 minutes throughout the entire auction.

If the auction is still going at 6 PM EST (which it almost certainly will), we may end the auction at any time without reference to the 15 minute rule.

We encourage bidders to follow the action by watching the 300 most recent bids on our website.

If bidding is slowing down, we will send out a warning email essentially stating, "Bidding is slowing down and we don't know exactly how much longer the auction will go."

This always spurs more bids, so we will monitor this activity until it slows down again, at which time we will send a "Fair Warning" email. This email is designed to be a final warning that the auction close is imminent and all final bids should be placed.

Under no circumstances will the auction continue beyond 12 AM Midnight Sunday, but this should be not be interpreted as a guarantee that the auction will continue that long. We highly advise not to wait until closer to Midnight to place your bids. Extended bidding under the old closing method died down after 7-8 hours (9 PM to 4-5 AM) so use this as a guide. The emails described above will be important guides to the likely auction closing time.

If you have any questions, we encourage you to call or email at any time as we will be fully staffed all weekend.

Good luck to all buyers and sellers!

Robert Edward Auctions
info@robertedwardauctions.com
908-226-9900

iowadoc77 10-28-2016 01:37 PM

Format
 
I like this idea of closing time.
We will see how it goes. Not sure there is a perfect system but will be watching to see how this goes.
I wonder if eBay's absolute close time is influencing the bigger AHs. Pretty sure it is.

perezfan 10-28-2016 01:59 PM

As a consignor, I'm just a tad concerned. So 9:00 AM, Pacific Time is the cut-off for initial bids on Sunday.

Would not be surprised if more than a few West Coast people overlook (or simply miss) the communication of new rules, and subsequently sleep right through the 9 AM deadline. This cut-off time is far earlier than any other Catalog Auction, and it is a Sunday morning, afterall :o

1952boyntoncollector 10-28-2016 02:07 PM

Quote:

Originally Posted by perezfan (Post 1597646)
As a consignor, I'm just a tad concerned. So 9:00 AM, Pacific Time is the cut-off for initial bids on Sunday.

Would not be surprised if more than a few West Coast people overlook (or simply miss) the communication of new rules, and subsequently sleep right through the 9 AM deadline. This cut-off time is far earlier than any other Catalog Auction, and it is a Sunday morning, afterall :o

I agree with this and this is concerning plus some of the current bid levels look like bargains right now but i realize there is lots of bidding towards the end, still......

x2drich2000 10-28-2016 02:16 PM

Quote:

Originally Posted by perezfan (Post 1597646)
As a consignor, I'm just a tad concerned. So 9:00 AM, Pacific Time is the cut-off for initial bids on Sunday.

Would not be surprised if more than a few West Coast people overlook (or simply miss) the communication of new rules, and subsequently sleep right through the 9 AM deadline. This cut-off time is far earlier than any other Catalog Auction, and it is a Sunday morning, afterall :o

Those on the west coast, like everyone else, have had 3 weeks or so to get their initial bids in. If they don't do so by the 9am deadline, that's their own fault.

DJ

bn2cardz 10-28-2016 02:40 PM

Quote:

Originally Posted by perezfan (Post 1597646)
As a consignor, I'm just a tad concerned. So 9:00 AM, Pacific Time is the cut-off for initial bids on Sunday.

Would not be surprised if more than a few West Coast people overlook (or simply miss) the communication of new rules, and subsequently sleep right through the 9 AM deadline. This cut-off time is far earlier than any other Catalog Auction, and it is a Sunday morning, afterall :o

Really it is later than past auctions considering those ended Saturday night then bled into Sunday morning. So if someone overlooks it they should be there on Saturday night and notice the extension at that time.

iowadoc77 10-28-2016 02:54 PM

Quote:

Originally Posted by x2drich2000 (Post 1597652)
Those on the west coast, like everyone else, have had 3 weeks or so to get their initial bids in. If they don't do so by the 9am deadline, that's their own fault.

DJ


Agreed! What good is it to wait until the last minute to get initial bid in? I am likely ignorant, but not sure. Just bid if you are going to.

RedsFan1941 10-28-2016 02:55 PM

Quote:

Originally Posted by x2drich2000 (Post 1597652)
Those on the west coast, like everyone else, have had 3 weeks or so to get their initial bids in. If they don't do so by the 9am deadline, that's their own fault.

DJ

+1. This seems so obvious, at least to me. People really wait until the absolutely last minute to get their INITIAL bids in?

R0nnie L3hman

BeanTown 10-28-2016 04:28 PM

It's the first time it benefits the East Coast collector for getting in a late bid(s) in the open (non extended time) auction. Years and years of us staying up till 3am while west coast people just come home after a night out at midnight to make their bids right before closing. I don't think their new closing time will affect the end results.

Anyone disagree with this then go bid now in REA and sleep in on Sunday until 2PM if you want to. Then wake up and go bid on the lot(s) you are interested in.

I would be interested to know the demographics of all the bidders as to their location. What percentage is in each time frame. My hunch is the largest number will be east coast.

My last thought is that it interferes with fantasy football and watching football in Sunday. That might be more of a concern I would have as a consignor.

oldjudge 10-28-2016 04:55 PM

I don't think the problem is initial bids. I think the issue is that for people on the West Coast the auction ends at 9 PM or earlier on a Sunday night. People are out and about on Sundays and many do not get home before 9PM. Also, I don't like hard closes or the possibility of them. I think this will lead to people being shut out at the end; I predict bargains.

1952boyntoncollector 10-28-2016 04:57 PM

Quote:

Originally Posted by oldjudge (Post 1597696)
I don't think the problem is initial bids. I think the issue is that for people on the West Coast the auction ends at 9 PM or earlier on a Sunday night. People are out and about on Sundays and many do not get home before 9PM. Also, I don't like hard closes or the possibility of them. I think this will lead to people being shut out at the end; I predict bargains.

right everyone can analyze all they want....the proof of any impact will be on the final sale prices..

BeanTown 10-28-2016 05:00 PM

You may be correct Jay. Us collectors love bargains, but it seems the good stuff always goes off for what it should. I think Heritage, Huggins and Scott, and Brockleman auctions have it right for having a firm time extended bidding starts at where each lot closes on an individual basis depending on the bidding activity. This way everyone knows when to be at the computer to bid.

FourStrikes 10-28-2016 05:15 PM

Rea
 
I'm a consignor on a handful of lots, and while I sure don't mind
the endless(?) - all-night until morning bidding - this IMO, is an
overall positive.

YES, I'm hoping for max bids, but this - again - IMO - is a more true
market, as it's not only a matter of whoever can down the most cans
of "Red Bull" wins...

either you want it or you don't - as long as the rules are stated, it's
okay by me - do I appreciate the late night, over-caffienated bidders?
as a seller, YES, but...

roll the dice, move your mice, rather than bitching about NOT having
the advantage due to time zone differences.

again, JMO.

happy bidding, and best of luck wished to the buyers/sellers AND to
a first-class auction house.

DS




yanks12025 10-28-2016 05:28 PM

Quote:

Originally Posted by oldjudge (Post 1597696)
I don't think the problem is initial bids. I think the issue is that for people on the West Coast the auction ends at 9 PM or earlier on a Sunday night. People are out and about on Sundays and many do not get home before 9PM. Also, I don't like hard closes or the possibility of them. I think this will lead to people being shut out at the end; I predict bargains.



So what about all the other auctions that screw the east coast because the west coast is 3 hours behind them and it's easier for them to stay up and out bid.

LEHR 10-28-2016 06:51 PM

Quote:

Originally Posted by x2drich2000 (Post 1597652)
Those on the west coast, like everyone else, have had 3 weeks or so to get their initial bids in. If they don't do so by the 9am deadline, that's their own fault.

DJ

^This!^ If you can't get your initial bids in during the THREE WEEKS the auction has been running then you don't deserve to bid or win anything. It doesn't matter what time initial bidding starts, someone will have a problem with it. I commend Brian and REA for trying something new.

perezfan 10-28-2016 07:05 PM

First off, nobody here is bitching. This is a significant change, and I expressed that I was "just a tad" concerned with the policy change. Some people (not on net54) will miss or overlook the changes. It's not a matter of "favoring" the east or the west. Of my 12 consigned lots, 2 have still garnered no bids. And both are worth significantly more than the starting bid amounts. The other 10 lots are also pretty stagnant. And yes- I've been through enough of these to know that most bidding occurs at the end.

That said... not everyone reads the periodic emails or the fine print within the printed catalogs. Others inevitably may notice the Noon closing time, but fail to realize that's Eastern Daylight Time. As for waiting until the very end to bid... many prospective bidders (with finite budgets) are outbid beyond their means on their top-tier items. Subsequently, they search for/shift to lots with one or no bids, late in the game. Often, auction houses will even send email blasts, highlighting these "overlooked" items. Goldin just did it today. I suspect this happens more with memorabilia than with cards, so perhaps that's why some here aren't grasping the concept.

With the 9 AM closing, those are the potential concerns (as a consignor). As a bidder, it's obviously more beneficial. No big deal... just minor (yet legit) concerns, given the rather significant change in policy.

jefferyepayne 10-28-2016 07:25 PM

Quote:

Originally Posted by 1952boyntoncollector (Post 1597699)
right everyone can analyze all they want....the proof of any impact will be on the final sale prices..

Kinda like the bargains West Coasters usually get when we on EST have to get some sleep?

There's no perfect auction format. I vote for one when everyone doesn't need to drink red bull to play.

jeff

P.S. Go REA!!!!!!

iowadoc77 10-28-2016 08:13 PM

Quote:

Originally Posted by jefferyepayne (Post 1597733)
Kinda like the bargains West Coasters usually get when we on EST have to get some sleep?

There's no perfect auction format. I vote for one when everyone doesn't need to drink red bull to play.

jeff

P.S. Go REA!!!!!!

I agree with this Jeff! I usually stay up way tooo flipping late. I like this better. On the downside, I will be distracted during my sons Sunday afternoon soccer game. And I am the coach...:eek:

RCMcKenzie 10-29-2016 02:40 AM

Record prices happen when folks are pittted against one another and one gets caught up in the moment. That's not gonna happen at 6 O'Clock on a Sunday evening. It only matters for the esoteric stuff. The graded Topps cards are like buying stocks or gold that have a daily value. It does sound like it's going to close around 11 Central and it would be good to just say that.

philliesphan 10-29-2016 04:16 AM

As someone based in London - this is the first time that an auction closing time will likely happen while I'm asleep.

It's been rather effective being able to get up in the morning with a clear head and bid as needed.

Now I'll be fighting to stay awake on any outbid e-mails in the extended bidding time.

m

jefferyepayne 10-29-2016 12:19 PM

Note I just got from Goldin starts with:

"We want to be as blunt as possible about the auction close tonight. Please be prepared for a LATE NIGHT. "

I vote for the REA way.

jeff

1952boyntoncollector 10-29-2016 02:18 PM

Quote:

Originally Posted by jefferyepayne (Post 1597897)
Note I just got from Goldin starts with:

"We want to be as blunt as possible about the auction close tonight. Please be prepared for a LATE NIGHT. "

I vote for the REA way.

jeff

Buyers will like the REA way, but it takes good stuff to be consigned to make a great auction house so i not sure why an auction house would just cater to buyers and not sellers

of course if the prices realized are fine for consignors and the buyers love the the format than theres no issue either

Aquarian Sports Cards 10-29-2016 02:24 PM

There's a gorgeous T205 Corridon in SGC 84 at a bargain price right now! Only two 86's and nothing higher than a 7 at PSA!

;)

BeanTown 10-29-2016 06:04 PM

Mark, I think bidders during extended time can open up a lot if no bids are placed on it. So, the two lots you mentioned without bids could in fact get bids Sunday afternoon. I'm not 100 percent on that, but pretty sure that's how they do it. You made a good point that most the net54 members know when the extended time begins compared to other non members. I wonder what that percentage would be in non members. My guess is it's low.

I think another reason we see prices at investment prices is because of the flood of material hitting the market right now. I have 20lbs of auction catalogs on my desk that will be closing in the next couple of weeks.

botn 10-29-2016 06:45 PM

Quote:

Originally Posted by oldjudge (Post 1597696)
I don't think the problem is initial bids. I think the issue is that for people on the West Coast the auction ends at 9 PM or earlier on a Sunday night. People are out and about on Sundays and many do not get home before 9PM. Also, I don't like hard closes or the possibility of them. I think this will lead to people being shut out at the end; I predict bargains.

Agree completely with Jay. I expressed so when Brian first posted a few weeks ago alerting us to the new closing procedure. I was never one of the west coast guys who stayed up until 3 AM but this process really hijacks an entire Sun and interrupts watching football and the World Series. The hard close at 9PM PST, if it even goes that late, is also not to my liking.

iowadoc77 10-29-2016 07:33 PM

Quote:

Originally Posted by jefferyepayne (Post 1597897)
Note I just got from Goldin starts with:

"We want to be as blunt as possible about the auction close tonight. Please be prepared for a LATE NIGHT. "

I vote for the REA way.

jeff

I agree with Jeff here. Time will tell, but I know I am looking forward to this format.
And... we will very likely not ever find the perfect formula. Many different opinions will continue to exist and many formats will be attempted.

jefferyepayne 10-29-2016 09:47 PM

Quote:

Originally Posted by botn (Post 1598011)
Agree completely with Jay. I expressed so when Brian first posted a few weeks ago alerting us to the new closing procedure. I was never one of the west coast guys who stayed up until 3 AM but this process really hijacks an entire Sun and interrupts watching football and the World Series. The hard close at 9PM PST, if it even goes that late, is also not to my liking.

I feel as horrible about messing up your Sunday as you did me not getting any sleep when REA closed at 4am. :)

Just put in max bids if you're busy on Sunday ... like all the West Coasters used to tell me to do if the auction ended too late for me to stay awake.

jeff

perezfan 10-30-2016 12:33 AM

Quote:

Originally Posted by BeanTown (Post 1598005)
Mark, I think bidders during extended time can open up a lot if no bids are placed on it. So, the two lots you mentioned without bids could in fact get bids Sunday afternoon. I'm not 100 percent on that, but pretty sure that's how they do it. You made a good point that most the net54 members know when the extended time begins compared to other non members. I wonder what that percentage would be in non members. My guess is it's low.

I think another reason we see prices at investment prices is because of the flood of material hitting the market right now. I have 20lbs of auction catalogs on my desk that will be closing in the next couple of weeks.

Thanks for clarifying this. I was not aware that items with no bids could potentially be re-opened for bidding. Most auctions do not, in fact do that.

Snapolit1 10-30-2016 08:35 AM

I've enjoyed people's theories about how this new REA format could hurt buyers or sellers. Nearly comical. No, definately much more convenient to sellers to have an auction close at 4:15 am on the east coast. That's smart business. Surprised the NFL hasn't caught on and started games at midnight NY time. Hell, I might open a restaurant and only sell food between 3 and 5:35 am.
Prime time. I got Goldin's message last night as I was shutting my phone off. No big deal. Rarely do I ever see a one of a kind item I must have. Happens once or twice a year at most. For most of this stuff I'm comfortable going to bed and letting someone else who isn't exhausted from working, taking care of sick kids, etc. "win" it.

botn 10-30-2016 09:54 AM

Quote:

Originally Posted by jefferyepayne (Post 1598046)
I feel as horrible about messing up your Sunday as you did me not getting any sleep when REA closed at 4am. :)

Just put in max bids if you're busy on Sunday ... like all the West Coasters used to tell me to do if the auction ended too late for me to stay awake.

jeff

You always this charming?

mybuddyinc 10-30-2016 10:21 AM

12:19 pm EDT ----------- this thing still going ???!!! ;)


I think :rolleyes: it's innovative idea .....

shammus 10-30-2016 10:26 AM

I'm very surprised to see I've actually won two lots already as the only bidder on them. Never had that happen before....

iowadoc77 10-30-2016 11:10 AM

Quote:

Originally Posted by shammus (Post 1598115)
I'm very surprised to see I've actually won two lots already as the only bidder on them. Never had that happen before....

Congrats!

rainier2004 10-30-2016 11:27 AM

Yeah, I don't see the negative to the new format. The auction has been up for 3 weeks and there will be extended bidding for 12 hours no matter where you live...not really putting a crimp on my time here.

Nice auction, thanks Brian.

jefferyepayne 10-30-2016 11:48 AM

Quote:

Originally Posted by botn (Post 1598108)
You always this charming?

Nothing at all personal, Greg.

It's just annoying that its ok for me to stay up until 4am but not ok for others to bid during their day.

jeff

Leon 10-30-2016 12:07 PM

Quote:

Originally Posted by shammus (Post 1598115)
I'm very surprised to see I've actually won two lots already as the only bidder on them. Never had that happen before....

Congrats. I have been outbid on all of mine. I am pretty sure I will put more bids in but At least it won't be an all-nighter.... :)

Exhibitman 10-30-2016 12:29 PM

I like it. With three weeks and twelve hours there is no excuse to completely miss a bid. I threw down my max bids today once ot started and I am able to ignore the auction and get on with my day. Plus I will know the outcome before I go to bed. What I don't like is lots with no bids being closed to bids in OT. As I get ko'ed on lots and my budget frees up I might want to go bottom feeding. I do that in Sterling.

spacktrack 10-30-2016 01:24 PM

If anyone is interested in placing a bid on an unopened lot, please feel free to email us at info@robertedwardauctions.com and we'll take care of it. The system should allow you to bid on an unopened lot at any time, but it does not appear to be allowing it, so we can do it manually.

Thanks to all who are involved in the bidding!

botn 10-30-2016 02:13 PM

Quote:

Originally Posted by spacktrack (Post 1598154)
If anyone is interested in placing a bid on an unopened lot, please feel free to email us at info@robertedwardauctions.com and we'll take care of it. The system should allow you to bid on an unopened lot at any time, but it does not appear to be allowing it, so we can do it manually.

Thanks to all who are involved in the bidding!

How could the system allow for it if all initial bids are supposed to have been placed by 12PM EST?

spacktrack 10-30-2016 02:20 PM

Quote:

Originally Posted by botn (Post 1598162)
How could the system allow for it if all initial bids are supposed to have been placed by 12PM EST?

The program is designed to recognize the difference between a lot with 0 bids and a lot with 1 or more bids. It can leave a lot with 0 bids open in the interest of getting it sold, while prohibiting new bids from being entered on a lot with 1 or more bids after the 12 PM EST deadline.

gnaz01 10-30-2016 02:53 PM

Anyone want to do an over/under for ending time?? :D

perezfan 10-30-2016 03:03 PM

A question for Brian...

Let's say there is a lot currently with zero bids. Prospective bidder then makes the call, and gets authorization to place a bid (to keep it from going unsold...)

Is that lot then closed to all others, with the winning bidder being the person who placed the overtime bid? Or does that action open it up to all others?

Thanks in advance for clarifying!
Mark

spacktrack 10-30-2016 03:24 PM

Under that scenario, the lot would be closed to new activity.

iowadoc77 10-30-2016 03:49 PM

Quote:

Originally Posted by spacktrack (Post 1598176)
Under that scenario, the lot would be closed to new activity.

Which makes complete sense.
I like the new format!

Exhibitman 10-30-2016 03:55 PM

I'm out

That was easy.

perezfan 10-30-2016 04:07 PM

Quote:

Originally Posted by iowadoc77 (Post 1598182)
Which makes complete sense.
I like the new format!

Agree... thanks, Brian for clarifying!

mybuddyinc 10-30-2016 04:09 PM

As I stated before :rolleyes: I like this new time arrangement.

However, I'm wondering how many "beer" bids are going to be lost ???? :p

Right now I'm on my third 16 oz "shot in the dark" coffee ("red eye" to some parts of country), and all the *&^%$ hepped up !!!! But, although going nuts, have refrained from upping max bids.

If it was after mid-night, and had 3 pints in me, who knows ???????? :)

Fun, fun, Scott

Neal 10-30-2016 04:37 PM

Quote:

Originally Posted by gnaz01 (Post 1598168)
Anyone want to do an over/under for ending time?? :D

looks like 6:45 pm according the site

T_Hamilton 10-30-2016 06:03 PM

First timing bidding in this type of auction (usually an eBay buyer) man is it stressful and fun!

iowadoc77 10-30-2016 07:19 PM

Quote:

Originally Posted by mybuddyinc (Post 1598189)
As I stated before :rolleyes: I like this new time arrangement.

However, I'm wondering how many "beer" bids are going to be lost ???? :p

Right now I'm on my third 16 oz "shot in the dark" coffee ("red eye" to some parts of country), and all the *&^%$ hepped up !!!! But, although going nuts, have refrained from upping max bids.

If it was after mid-night, and had 3 pints in me, who knows ???????? :)

Fun, fun, Scott

Next time let's get together for some pints. Sounds like a good time!

base_ball 10-30-2016 07:27 PM

Quote:

Originally Posted by shammus (Post 1598115)
I'm very surprised to see I've actually won two lots already as the only bidder on them. Never had that happen before....

There was a surprising number of lots with zero or one bid in this auction. In Lelands recently closed auction a stunning one third of the lots had zero or one bid. This trend is now widespread in the sports auction memorabilia business due to rising opening bids/reserves following the prosecution of the Mastro Crime Family.

Snapolit1 10-30-2016 08:06 PM

Quote:

Originally Posted by base_ball (Post 1598247)
There was a surprising number of lots with zero or one bid in this auction. In Lelands recently closed auction a stunning one third of the lots had zero or one bid. This trend is now widespread in the sports auction memorabilia business due to rising opening bids/reserves following the prosecution of the Mastro Crime Family.

80 lots of 2300 do not have a bid. Any many items in most auctions have 1 bid. Doesn't seem significant to me at all, as many of the 80 are obscure pieces of memorabilia. No offense but it seems like you have some kind of agenda you are straining to advance.

mybuddyinc 10-30-2016 08:06 PM

Quote:

Originally Posted by iowadoc77 (Post 1598243)
Next time let's get together for some pints. Sounds like a good time!

Ten O'clock --- "Do you know where your children are ???" As they said in the good old days back on independent NY Chanel 5 News ........ :)



Still a'go'n -------------------- Fun, Scott :rolleyes:

base_ball 10-30-2016 08:25 PM

Quote:

Originally Posted by Snapolit1 (Post 1598257)
80 lots of 2300 do not have a bid. Any many items in most auctions have 1 bid. Doesn't seem significant to me at all, as many of the 80 are obscure pieces of memorabilia. No offense but it seems like you have some kind of agenda you are straining to advance.

Simply an observation that opening bids have been hiked over the past few years.

spacktrack 10-30-2016 09:11 PM

In case there is any delay in the distribution of the FAIR WARNING email, which was sent a few minutes ago:

The auction closing is imminent. Bidding has slowed down and the auction is drawing to an end. We recommend you get your bids in now and utilize Honest Auto Bid to avoid disappointment.

THE AUCTION WILL CLOSE WITHOUT FURTHER WARNING!

IT WILL NOT GO UNTIL MIDNIGHT EASTERN!

Thanks to all for participating!

rainier2004 10-30-2016 10:05 PM

Great auction Brian, always top notch. Good luck on future auctions as well bring us the goods.

Hope everyone did well...and that may mean winning nothing.

CardMD 10-30-2016 10:16 PM

So I have to ask because I know nothing about Old Judge cards, but that king Kelly in PSA 9 looks trimmed and significantly shorter than every other old judge in this auction. What do people think? Just curious.


Sent from my iPhone using Tapatalk

Joe_G. 10-30-2016 10:36 PM

Thank you REA, great auction.

Regarding the N172 Kelly, different years and even subsets come in different sizes. For example, the Script and numbered cards excluding Brooklyn, are the smallest cards in the set (Kelly being a short number). The numbered Brooklyn cards among the largest. That Kelly is nice, from the scan alone I don't see any red flags.

scooter729 10-31-2016 03:38 AM

Quote:

Originally Posted by Snapolit1 (Post 1598257)
80 lots of 2300 do not have a bid. Any many items in most auctions have 1 bid. Doesn't seem significant to me at all, as many of the 80 are obscure pieces of memorabilia. No offense but it seems like you have some kind of agenda you are straining to advance.

This is just a bit of a change from REA auctions from several years ago, where starting bids were rock bottom and a 2,000 lot auction literally may have 2-3 items not get a bid. I didn't see it as an agenda from the post or an issue with the auction, just an observation.

Snapolit1 10-31-2016 05:40 AM

Quote:

Originally Posted by scooter729 (Post 1598292)
This is just a bit of a change from REA auctions from several years ago, where starting bids were rock bottom and a 2,000 lot auction literally may have 2-3 items not get a bid. I didn't see it as an agenda from the post or an issue with the auction, just an observation.

I guess I was having a hard time making the connection between RE's opening bids and a reference to some other dude in jail. Maybe I didn't have enough coffee.

PhillipAbbott79 10-31-2016 06:07 AM

Quote:

Originally Posted by spacktrack (Post 1598176)
Under that scenario, the lot would be closed to new activity.

I don't recall seeing that in the auction rules any where. It may also promote people that think that the initial bid is close to what the market price is, and people rushing to call you to make the initial bid that "purchases" the item.

If I were a seller, I am not sure that I would like that. In general the opening bids are lower than they should be to ensure the items sell, but the side affect is that there is almost always competition to help push the price up.

The prices last night were very weak in my opinion but it is in no way the result of changing the format. The market is saturated and there are some big players that have dropped out. This trend of lower prices will continue on certain cards.

Some people may have gotten caught with their pants down, but I am sure today they will know what happened and why, and on the next auction it will not again. Either way, if you ask me, they have no reason to complain. The people who stay informed don't have issues, and the people that feel they are entitled do. It is up to the person to determine which they are and how important it is to them.

Snapolit1 10-31-2016 07:29 AM

After the exchange with RE last night, I checked out all the items with no bids. It seemed a # of them were withdrawn. Maybe sellers have the option to indicate whether they want their item yanked if no bids in regulation time or whether they are happy selling for the minimum in overtime.

Snapolit1 10-31-2016 07:31 AM

Prices seemed fair for the stuff that I was shut out of. I agree the market has been flooded lately with major auctions. Only so many people in the market for a 33 Goudey Gehrig PSA 7 or 8.

1952boyntoncollector 10-31-2016 07:39 AM

Quote:

Originally Posted by PhillipAbbott79 (Post 1598299)
I don't recall seeing that in the auction rules any where. It may also promote people that think that the initial bid is close to what the market price is, and people rushing to call you to make the initial bid that "purchases" the item.

If I were a seller, I am not sure that I would like that. In general the opening bids are lower than they should be to ensure the items sell, but the side affect is that there is almost always competition to help push the price up.

The prices last night were very weak in my opinion but it is in no way the result of changing the format. The market is saturated and there are some big players that have dropped out. This trend of lower prices will continue on certain cards.

Some people may have gotten caught with their pants down, but I am sure today they will know what happened and why, and on the next auction it will not again. Either way, if you ask me, they have no reason to complain. The people who stay informed don't have issues, and the people that feel they are entitled do. It is up to the person to determine which they are and how important it is to them.

" This trend of lower prices will continue on certain cards."


That part is true every auction ever year actually.

I always check to see if the babe ruth 1933 psa 1s are going for 1000 or 1956 jackie robinson psa 8s going for 1000 as my bird in the coal mine. If i see either of those going for 500 for example then i know its a bad auction or the end is coming..


A leaf SGC 5 Jackie robinson did go for over 5300 which i thought was very strong. It also appears the high dollar cards did well like the cobb/cobb rookie ruth etc

Jersey City Giants 10-31-2016 07:56 AM

won 1 lot
 
nabbed one of the lots I was targeting, thought the price was fair.

Leon 10-31-2016 08:12 AM

I remember being the under bidder on this card,

http://bid.robertedwardauctions.com/...e?itemid=41538

this time it went for about $8k less.

Overall I thought the prices were about right. However, if you get into a bidding war with someone, when it is time to sell, you might be caught a bit short, (especially if you are a total A-hole and people remember) :).

1952boyntoncollector 10-31-2016 08:29 AM

Quote:

Originally Posted by Leon (Post 1598325)
I remember being the under bidder on this card,

http://bid.robertedwardauctions.com/...e?itemid=41538

this time it went for about $8k less.

Overall I thought the prices were about right. However, if you get into a bidding war with someone, when it is time to sell, you might be caught a bit short, (especially if you are a total A-hole and people remember) :).

if prices are falling you would think there would be more incentive to do direct deals to attempt to make up for that 20 percent juice. I know the total sales of my cards with bp were a bit more than i paid in direct deals but i lost money due to the buyer premium. All of my items were purchased in direct deals so i guess i pay well considering i lost money when selling them at an auction, but only due to the buyer premium as total sell price was a bit more than i paid

Leon 10-31-2016 08:42 AM

A lot of collectors don't want to think they are losing money selling privately and many buyers don't want to buy privately as they feel they can do better at auction. That is the reason for auction proliferation. Buyers seem to think they can always get a better deal in auction when that is simply not true. Many times yes, many times no. Personally, I try to do whatever I think makes sense. I consign a little bit and also sell privately. Knowledge is key. I liked the way the new REA was done more than the old REA due to the ending time.

Quote:

Originally Posted by 1952boyntoncollector (Post 1598331)
if prices are falling you would think there would be more incentive to do direct deals to attempt to make up for that 20 percent juice. I know the total sales of my cards with bp were a bit more than i paid in direct deals but i lost money due to the buyer premium. All of my items were purchased in direct deals so i guess i pay well considering i lost money when selling them at an auction, but only due to the buyer premium as total sell price was a bit more than i paid



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