REA Closing

[RCMcKenzie]

Am I the only one who's having a beer, hitting refresh on "my bids" every 5 minutes, and waiting for Midnight eastern? I wouldn't mind an 11pm eastern close and a 10 minute rule, but I do like this format much better than the 4AM soft close, old-school style...Rob

[Topnotchsy]

Originally Posted by RCMcKenzie

Am I the only one who's having a beer, hitting refresh on "my bids" every 5 minutes, and waiting for Midnight eastern? I wouldn't mind an 11pm eastern close and a 10 minute rule, but I do like this format much better than the 4AM soft close, old-school style...Rob

I'm with you on the closing. I'd prefer an earlier end (10 or 11 seems pretty reasonable to me) and then a 10-minute rule.

[Snapolit1]

Originally Posted by RCMcKenzie

Am I the only one who's having a beer, hitting refresh on "my bids" every 5 minutes, and waiting for Midnight eastern? I wouldn't mind an 11pm eastern close and a 10 minute rule, but I do like this format much better than the 4AM soft close, old-school style...Rob

Ah, ya just driving yourself nuts. I'd watch a movie and come back at 11:30 . . .

There is something you can set up so you get a text immediately if your are outbid.

[ejharrington]

I just wish they would move it to Saturday night.

[Jobu]

I like the 5-min interval after midnight. I could see 10 minutes, but anything more than that could make things draw on. I am also not one to be bidding on a ton of things that I really think I have a shot to win, so that might make my thoughts a bit different.

I am surprised that the pre-midnight intervals are also 5 minutes (if the whole auction goes without a bid for 5 minutes before midnight everything closes). I think you could just say "don't worry, the whole thing is open til midnight." Imagine how much money would be left on the table if there was some freak interval at 9:30 pm where nobody bid because we were all watching movies and planning to check back at 11:30.

[Topnotchsy]

Originally Posted by Jobu

I like the 5-min interval after midnight. I could see 10 minutes, but anything more than that could make things draw on. I am also not one to be bidding on a ton of things that I really think I have a shot to win, so that might make my thoughts a bit different.

I am surprised that the pre-midnight intervals are also 5 minutes (if the whole auction goes without a bid for 5 minutes before midnight everything closes). I think you could just say "don't worry, the whole thing is open til midnight." Imagine how much money would be left on the table if there was some freak interval at 9:30 pm where nobody bid because we were all watching movies and planning to check back at 11:30.

Agreed. I think the idea is that in almost every case it will go to 12, and the 5 minute rule is short enough for people to say, "but what if somehow it ends before" and put in their bids earlier. I know that I'm kinda nervous and bid early on some items.

[RCMcKenzie]

Originally Posted by Jobu

... if there was some freak interval at 9:30 pm where nobody bid because we were all watching movies and planning to check back at 11:30.

Speaking of movies, that scene with Marlon Brando, inspired by Conrad's novella,"Heart of Darkness", where he says, "The Horror, the horror."

[hcv123]

If you read through this thread you will get it - It gives people a sense of urgency rather than ease and is the AH hope that will inspire heavier and more frequent bidding. I didn't get the point of the 6-12 extended bidding period till I read some peoples responses in this thread!
NO WAY the auction EVER closes before midnight.

[RCMcKenzie]

With due respect, Howard, I'm feeling the opposite of "urgency" right now. Like the great Tom Petty said..."The waiting is the harrrr-dest parrrrrt" cheers, Rob

[pokerplyr80]

Originally Posted by Snapolit1

Ah, ya just driving yourself nuts. I'd watch a movie and come back at 11:30 . . .

There is something you can set up so you get a text immediately if your are outbid.

I've been getting a text and an email each time I'm out bid.

I agree 10 or 15 minutes would be better than 5. Maybe they're hoping limited time will lead to more impulsive last minute bids. I've put in a few of those from time to time.