Way to go REA!!

Snapolit1 · #1 01-28-2020, 08:17 AM

Quote:

Originally Posted by hcv123

is the 5 minute clock STARTS at midnight! Trying to sell it as "their pioneered closing method", but some variation on this has been used before (see Scotts post above for 1 example). So in theory, certain lots could close at 5AM!

I have no major beef with hotly contested lots staying open for hours. What's frustrating and infuriating is when there is no action and you are the winning bidder at midnight, one am, two am, three am, four am . . . and then a bid comes in at 5:15 am topping yours, and you have been winning the item for weeks.

(Whatever happened to the term beef being used to denote a complaint or problem. Haven't heard it in years.)

Aquarian Sports Cards · #2 01-28-2020, 10:16 AM

Quote:

Originally Posted by Snapolit1

I have no major beef with hotly contested lots staying open for hours. What's frustrating and infuriating is when there is no action and you are the winning bidder at midnight, one am, two am, three am, four am . . . and then a bid comes in at 5:15 am topping yours, and you have been winning the item for weeks.

(Whatever happened to the term beef being used to denote a complaint or problem. Haven't heard it in years.)

I agree completely and their new system addresses this problem.

perezfan · #3 01-28-2020, 12:36 PM

Quote:

Originally Posted by Snapolit1

I have no major beef with hotly contested lots staying open for hours. What's frustrating and infuriating is when there is no action and you are the winning bidder at midnight, one am, two am, three am, four am . . . and then a bid comes in at 5:15 am topping yours, and you have been winning the item for weeks.

(Whatever happened to the term beef being used to denote a complaint or problem. Haven't heard it in years.)

Yes... Where's the Beef?

A bunch of these everyday sayings are fading into oblivion as we speak. Millennials seem confused and just give you an empty look when you routinely drop one of these sayings. Many of these terms won't be around much longer. I used the term "floosy" to describe a shallow/loose woman the other day and by the response, you'd think I was speaking a foreign language.

BTW, I also like the REA change and think it was necessary. Far better closing method for consignors, especially.

mechanicalman · #4 01-28-2020, 02:07 PM

Quote:

Originally Posted by perezfan

Yes... Where's the Beef?

A bunch of these everyday sayings are fading into oblivion as we speak. Millennials seem confused and just give you an empty look when you routinely drop one of these sayings. Many of these terms won't be around much longer. I used the term "floosy" to describe a shallow/loose woman the other day and by the response, you'd think I was speaking a foreign language.

BTW, I also like the REA change and think it was necessary. Far better closing method for consignors, especially.

Maybe there are some terms that should go away.

Snapolit1 · #5 01-28-2020, 03:49 PM

Quote:

Originally Posted by mechanicalman

Maybe there are some terms that should go away.

You're a real stick in the mud.

perezfan · #6 01-28-2020, 07:35 PM

Steve... You must be no spring chicken, just to know that term.

Republicaninmass · #7 01-28-2020, 07:48 PM

Lots of Sad Sacks here on the board. They should take a hike

hcv123 · #8 01-29-2020, 10:16 AM

1 - Most seem to be in favor of the lot by lot close rule - which is not new to the auction world, but a system that REA is now adopting. I agree this is definitely in the best interests of consignors and am a bit sad because I have sniped a number of items quite successfully in the past.

2 - Confusion about why there is an "extended bidding period" between 6PM and 12AM when bidding will no longer end at 12. If you are using a 5 minute lot by lot end, then an "extended bidding period" preceding it is silly. As mentioned earlier in the thread - if bidding will not end at the end of the "extended bidding period", there is no incentive to bid during it. I strongly suspect this will change soon - pick whatever soft closing time you want and then the 5 minute clocks start.