Chatted With Bill Goodwin Today

[doug.goodman]

Originally Posted by calvindog

Bill Goodwin is running a business -- a business in which he needs to get the most money for his consignors or he loses them -- and loses his business. Why stop the auction when he's bringing in more money for his consignors (and him)? As noted above, it's the BIDDERS' faults who run the auction so late through the night, figuring that they'll hold out as long as possible to bid so that their competition will drop out. Don't blame the auction house for this. We have the right to complain about fraud, not the fact that the AH wants to make more money for its consignors.

PS I was up half the night bidding on one card; had I known the auction would run until 6:45 I would have set my alarm for 6:43; however, that's the chance you have to take if you want the card bad enough. I got the card.

Yes, well said.

[nolemmings]

I'm not sure the late night model works the best for consignors, although obviously several would disagree. Seems to me that there are many who go to bed and put in their "max", which is fine. But if they knew their max would not hold up, say, because that lot ended earlier, they would have more money to go and bid up other lots. Going to bed and having to put in your "max" on multiple lots forces you to hedge. So those people who choose to go to bed may have spent more if they either stayed up (which they apparently do not want to do) or if the lots ended one by one.