Huggins and Scott Auction bid increments good for buyers, bad for consigners

[JustinD]

Originally Posted by scooter729

I remember when REA used to have big increments, like $100 increments between $500 - $999. On a $500 item, I might be willing to go to $525 or $550, but not $600, so there were times an item may have sold for less than it should have. Now there are $25 increments at that price level, so I certainly think it encourages more bidding and higher prices.

Any reasonable logic in my mind says +1 on this.

The smaller increments encourages additional bids due to every piece of marketing knowledge since the beginning of written time. Under no premise can I believe that the current bid price would be that much higher at this second with a higher percentage. People pay what it is worth to them, no one without a possible diagnosis of a mental disorder has an obligation to bid more money just to satiate an obsession to bid. I would say that you are completely eliminating more bidders with an obscene bid jump from the pool prior to extended bidding far more than improving end value for consigned items.