These (and the others) are great thoughts, I appreciate them very much.
Glad you like them ending on one day.
I agree about having a max number of overtimes, maybe 3? That's 15 minutes. After that, then if it's a tie the first person to bid the highest amount wins. Auction over. That said, I am still considering not having an extended bidding. Just bid the most you want and let the chips fall where they may.
I am not sure I care about bidding strategies, honestly, That is what I do with Auction House bidding, and to a much lesser extent, eBay. This isn't one of those. It's for selling a few things among members. It would be way, way too hard to manage staggered closings and many more rules. I barely want to put all of these rules in place that we are talking about.
I am also considering locking the auction threads after they are over. That way they don't get bumped with current ongoing auctions and it's easier to see active ones.
Quote:
Originally Posted by JustinD
Couple thoughts-
A. Love the same day end times as easier way to organize.
B. Completely hate extended bidding, and I can’t underline it enough. It’s a PITA to track and for those thinking you will make more, logic says no. Unless a completely new system with a minimum bid amount is created jumping by a set bid amount. Last minute max snipes will far exceed an hour of one dollar increments. If the auction ends at 9 pm and 3 people bid their max at 8:59, the highest max wins and that is the sell price. Far more likely to net sellers more in the long run then little minimum stepped bids.
C. I think all auctions should not end at the same time as it discourages bidding on multiple auctions. There should be a 5 minute gap between auction closings. You may think that extended bidding would help this, no that is not the concern, just another possibility. It has more to do with buyer budgeting. When you know your wins as they complete, you know if it is within a budget to go on. How many of you have dropped out of extended bidding in a traditional auction to know you have the resources to compete on a different lot? I rest my case.
D. Two categories works for me. I am okay with the cliche 1980 date, but I like the mentioned 1970 much better.
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12-11-2022, 12:05 PM
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