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#1
05-04-2018, 08:51 AM
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Quote:
I'm sick of the same threads about how terrible certain eBay sellers are. if you hate a seller don't do business with them. Last edited by Snapolit1; 05-04-2018 at 08:52 AM. 
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#2
05-04-2018, 10:08 AM
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If you have a problem with the auction closing process of any particular auction company, don't bid. Done and done. It's simple...
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#3
05-04-2018, 10:10 AM
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Trust me, no one has analyzed our intended market more than us. We are comfortable the way the auction currently ends, and we're glad that it's effected positive change by bringing at least five other auction houses to change their timings with the goal of eliminating 4 AM and 5 AM closings. When we switched the ending method in 2016, it was a revolutionary move, and it had to be done in a way that accomplished what we wanted (more bidders awake) and what the bidders wanted (a reasonable hour).
Last year's Super Bowl ended at 10:14 PM EST. Last year's World Series Game 7 ended at 11:58 PM EST. We view REA as the Super Bowl or Game 7 of auctions, and I know a lot of collectors feel the same way. Many people are happy to stay up to watch these events to their conclusion, and those that aren't just read about them in the morning. If there's a "have-to-have" item, we offer numerous options to ensure that a bidder does not need to be glued to his computer or even awake to pursue it. The auction can be accessed from almost anywhere thanks to modern technology. There's no need to plug into a landline or boot up a PC just to place a bid. I see Heritage cited a lot--the earliest you can win an item in their catalog auctions is 11:30 PM EST--and that's if there are no bids during extended bidding. If there's competition dragging out the 30 minute clock, it could go several hours. In last fall auction, we processed more than 800 bids in the final 30 minutes...that's more than 26 bids a minute, or an average of one bid every two seconds approximately. To date in this auction, we've processed 25,589 bids in the three weeks we've been open. That's about 51 bids an hour, day and night, all day, every day, for three weeks. Those are real, concrete, not made up "frenzy" statistics. There are other auction houses dragging auctions out until 4 AM with bids coming in every 13 minutes. Those are the auctions that should be looked at and made to consider serious change to modernize things. This auction we have collectors from the US, Canada, Australia, UK, France, Spain, Saudi Arabia, UAE, Hong Kong, South Korea, China, Malaysia, and Singapore involved in the bidding. That's a lot of time zones, each of which presents a different perceived advantage or disadvantage. We have farmers who are up at 3 AM and prefer the old method better, and we have factory workers who will getting off the line at 10 PM and love the new method. There will never be a perfect time for everyone. I want to be sure that there is no misinformation spread or misunderstandings about how this auction will close. It is the same way that all of our auctions since October 2016 have closed. The deadline for initial bids is Noon EST Sunday. The auction will continue for several hours beyond that. We utilize a 15 minute rule, but the truth is that it never even gets remotely close to running out on our auction. After 6 PM EST, we can close it at any time. There will be at least one Fair Warning email sent out in advance of the close with specific timing information based on the activity we are monitoring. Beyond that, there will be no notice. The auctions utilizing this method have closed between 11:30 PM EST and 11:58 PM EST. There is no guarantee this will be the case this auction but those are data points to consider. In the event that we cannot or do not shut it down manually, the auction will close automatically at Midnight EST. That has never happened. Good luck to everyone participating this weekend, whether you're awake at the end or not.  Brian
__________________
REA - A Signature Approach to Collectibles
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#4
05-04-2018, 10:30 AM
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Hey Brian,
Is there a way to get a fair warning text sent to my phone like the outbid alerts? Im sure I'm in the minority for people that do not have their emails go to their phone. Jc
__________________
Love Ty Cobb rare items and baseball currency from the 19th Century.
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#5
05-04-2018, 10:53 AM
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Great email Brian. REA is no question the super bowl of auctions and I would gladly stay up until 4am+ for your auctions- a midnight ending is simply the cherry on top of an amazing event. I am one who mentioned I like the way Heritage closes, and I do, but who cares - your auctions are second to none and I am just happy to participate. Sunday can’t get here soon enough
Ryan Hotchkiss
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#6
05-04-2018, 12:53 PM
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The one point that no one has brought up is how my wife and mother are both going to hate me because REA decided to host the last day of bidding on MOTHERS DAY!!! Thanks Brian, I'll start prepping the couch now...
__________________
___________________ T206 Master Set:103/524 T206 HOFers: 22/76 T206 SLers: 11/48 T206 Back Run: 28/39 Desiderata You are a child of the universe, no less than the trees and the stars; you have a right to be here. And whether or not it is clear to you, no doubt the universe is unfolding as it should. With all its sham, drudgery, and broken dreams, it is still a beautiful world. Strive to be happy.
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#7
05-04-2018, 12:55 PM
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Mothers Day is on the 13th
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#8
05-04-2018, 01:19 PM
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__________________
Collection on Flickr: https://www.flickr.com/photos/139478047@N03/albums
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Hybrid Mode
