Late night auctions, no thanks

[mrreality68]

agreed I am not happy with the different times they close and how they close.

Sometimes I am up until the early morning with some of them closing between 2am and 5am Eastern time.

I have used max bids in the past but also when you are bidding on multiple items and the plan is for if one gets to much to go to your second or third choice you cannot do that with max bid usage.

not to mention lack of sleep etc

But it must be working for the consignors and auction houses since they do it

[BobbyStrawberry]

Originally Posted by mrreality68

agreed I am not happy with the different times they close and how they close.

Sometimes I am up until the early morning with some of them closing between 2am and 5am Eastern time.

I have used max bids in the past but also when you are bidding on multiple items and the plan is for if one gets to much to go to your second or third choice you cannot do that with max bid usage.

not to mention lack of sleep etc

But it must be working for the consignors and auction houses since they do it

Good points - about lack of sleep, I've found that at some point I get tired enough that it isn't fun anymore.

[Mark17]

I look forward to the auctions that end lot by lot, because they end at a reasonable time. Besides, I can manage my budget much better as some items get too pricey and I cross them off my list, and then focus on others.

The auctions that end all at once...... sometimes I'll play, sometimes not.

[molenick]

Good points by Jeff and Steve about maximum bids. I agree that maximum bids are not a great option if you are bidding on several lots and you have a certain amount of money you are willing to spend in the auction as a whole...because if everything goes to the max, you will probably spend more than you have allocated.

I was just throwing it out there as a possible strategy but my preference is for lot-by-lot closing like Heritage does and like REA does now (although REA starts their individual lot closing a little on the late side for me...he says, while posting to the board at 12:20 AM).