Quote:
Originally Posted by rats60
That is good for you if you want to stay up all night. You ignore the people who go to bed with the high bid, but get sniped by someone who stays up all night. The consignor ends up losing money because one of his bidders is asleep and can't respond to the higher bid. Those auction houses that want all lots open to 4am are losing my business. I am more than happy to give my business to those like Heritage who close lots with no bids for 30 minutes or by live auction. It is not worth my time to sit around waiting to see if I get out bid.
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Agree.
Hunt Auctions works like that too and I love it. I place early initial bids on the lots I'm interested in and then on the final night it's easy to manage my budget. As each lot closes, I know I either won it or I didn't, so then I can proceed to the next lot (or go to bed, having spent my budget.)
I couldn't just put max bids on all four or five lots and then get to sleep, because I couldn't afford to win them all.