More reasonable auction closing

Casey2296 · #1 08-12-2024, 12:15 PM

-
East Coast gets the National every year, West Coast gets 3 hours more sleep on auction night.

Seems like a fair trade.

perezfan · #2 08-12-2024, 12:20 PM

Quote:

Originally Posted by Casey2296

East Coast gets the National every year, West Coast gets 3 hours more sleep on auction night.

Seems like a fair trade.

Agree... I like the current format. Everyone is in bed, with no distractions during "crunch time".

I never win much in the Saturday night auctions... that's the night we are always out doing something, and my ceiling bids rarely hold up. So Sunday is just fine with me!

BigfootIsReal · #3 08-12-2024, 12:54 PM

Sleep? I mean WTF? Have plenty of time for sleep when we're dead! Stuff sleep into your purses.

Snapolit1 · #4 08-12-2024, 08:32 PM

Quote:

Originally Posted by BigfootIsReal

Sleep? I mean WTF? Have plenty of time for sleep when we're dead! Stuff sleep into your purses.

No idea how old you are �.. but at a certain age sleep is everything.

Peter_Spaeth · #5 08-12-2024, 09:13 PM

Quote:

Originally Posted by Snapolit1

No idea how old you are �.. but at a certain age sleep is everything.

It's funny that for those of us within a certain age group, 15 or even 10 years ago we made some coffee and thought nothing of staying up till the wee hours bidding in these stupid auctions lol.

calvindog · #6 08-12-2024, 01:21 PM

Quote:

Originally Posted by Casey2296

East Coast gets the National every year, West Coast gets 3 hours more sleep on auction night.

Seems like a fair trade.

LOL True.

MuncieNolePAZ · #7 08-12-2024, 07:42 PM

It has been awhile since I have seriously bid on a card in a major auction. It is just too late for me. I don’t do max bids unless just after one card because then I might win multiple and only had the budget for one.

Phil, you can have National on West coast if the auctions end 3 hours earlier.

Chad

aro13 · #8 08-12-2024, 08:07 PM

I put my last bid in at 12:37 and went to bed at 12:53. While I was waiting to see if my bid would get topped, I looked through the auction and a great number of lots had closed by 12:20. I would be curious what the actual stats are. The one auction I feel comfortable putting in my maximum early is REA. However, I do enjoy the thrill of bidding on an item after midnight and waiting to see if have to stay up another 15 minutes or not.

Rhotchkiss · #9 08-12-2024, 08:07 PM

It ain�t changing. Use the max bid feature.

ValKehl · #10 08-12-2024, 11:05 PM

Quote:

Originally Posted by Casey2296

-
East Coast gets the National every year, West Coast gets 3 hours more sleep on auction night.

Seems like a fair trade.

Phil, when did Chicago get moved to the East Coast?

conor912 · #11 08-12-2024, 11:22 PM

I put in a limit bid and went to bed at 10:30�.and won for below my max. It is possible, guys.

Casey2296 · #12 08-12-2024, 11:30 PM

Quote:

Originally Posted by ValKehl

Phil, when did Chicago get moved to the East Coast?

Ha! Everything past the Rockies is East Coast to me.

bcbgcbrcb · #13 08-13-2024, 01:06 AM

Hake’s closes all of their auctions exactly like Steve suggested with extended bidding starting at 9pm and lots closing individually using the 15 minute rule. It’s been that way for about 4 years now. You’re welcome…..

Republicaninmass · #14 08-13-2024, 04:48 AM

Based on prices no way.

You'd have to be inebriated to bid 45k on a trimmed mantle. Regardless of your diagnosis

BRoberts · #15 08-13-2024, 06:19 AM

Quote:

Originally Posted by bcbgcbrcb

Hake�s closes all of their auctions exactly like Steve suggested with extended bidding starting at 9pm and lots closing individually using the 15 minute rule. It�s been that way for about 4 years now. You�re welcome�..

Thank you, Phil! Thanks for all you do to make this hobby better.

raulus · #16 08-13-2024, 10:35 AM

It does seem like this discussion largely comes down to a question of whether the closing mechanism is a feature or a bug. Do you love the thrill of the chase, and enjoy a late night bidding like a drunken sailor against other drunken sailors? Or do you prefer to check out at 8pm and get a good night's sleep?

A big part of it probably also comes down to how badly you want the stuff that you're chasing. If you have to have it, and refuse to accept the possibility of defeat, then you probably are willing to sacrifice some sleep to make it happen.

If you're a bit more ambivalent, then maybe you submit your max bid the day before the auction ends, and then check back in on Monday morning to see whether you won anything.

I suppose there's also the question of whether you can afford to win everything that you put a max bid in on. And if not, then you're stuck staying up late and needing to manage it all in real time.

Just thinking about it makes me start to wonder if all of this effort is really worth it, for the honor of paying gigantic sums of sweet, sweet cash in exchange for cardboard. I guess that depends on your own calculus and value system. Of course, I say that now, simply because there haven't been many auctions of late with much that it is very tempting to me, at least at the prices going down. Often I'm only mildly interested in a few bits, and typically the prices have exceeded my appetite by about a week before closing, so I can check out early. But if some great stuff comes along that I can't live without, then all of a sudden I'll go to great lengths to make it mine.

Of course, being a left-coaster, the average auction doesn't require that I sacrifice as much sleep as is required of the east coast crowd. So there's also that.

BobbyStrawberry · #17 08-13-2024, 11:06 AM

Quote:

Originally Posted by raulus

It does seem like this discussion largely comes down to a question of whether the closing mechanism is a feature or a bug. Do you love the thrill of the chase, and enjoy a late night bidding like a drunken sailor against other drunken sailors? Or do you prefer to check out at 8pm and get a good night's sleep?

A big part of it probably also comes down to how badly you want the stuff that you're chasing. If you have to have it, and refuse to accept the possibility of defeat, then you probably are willing to sacrifice some sleep to make it happen.

If you're a bit more ambivalent, then maybe you submit your max bid the day before the auction ends, and then check back in on Monday morning to see whether you won anything.

I suppose there's also the question of whether you can afford to win everything that you put a max bid in on. And if not, then you're stuck staying up late and needing to manage it all in real time.

Just thinking about it makes me start to wonder if all of this effort is really worth it, for the honor of paying gigantic sums of sweet, sweet cash in exchange for cardboard. I guess that depends on your own calculus and value system. Of course, I say that now, simply because there haven't been many auctions of late with much that it is very tempting to me, at least at the prices going down. Often I'm only mildly interested in a few bits, and typically the prices have exceeded my appetite by about a week before closing, so I can check out early. But if some great stuff comes along that I can't live without, then all of a sudden I'll go to great lengths to make it mine.

Of course, being a left-coaster, the average auction doesn't require that I sacrifice as much sleep as is required of the east coast crowd. So there's also that.

Yes, I think it comes down to priorities. Put me in the "prefers a good night's sleep" category. Something about staying up half the night and morphing into an adrenaline junkie in order to acquire a piece of cardboard just kind of gives me perspective - like, "maybe I should just not spend this money anyway.." I've actually been more impulsive on auctions that end at a reasonable time.

For me to stay up and go the distance into the wee hours, them item needs to be BOTH something I really, really want AND a good value. (Which almost never happens at the big auction houses, at least on stuff I'm interested in.)

Aquarian Sports Cards · #18 08-13-2024, 11:47 AM

Quote:

Originally Posted by bcbgcbrcb

Hake�s closes all of their auctions exactly like Steve suggested with extended bidding starting at 9pm and lots closing individually using the 15 minute rule. It�s been that way for about 4 years now. You�re welcome�..

It's how we've done things since day one. We start extended at 10pm. At 10:15 anything without a new bid closes and we're lot by lot from there on in. Since 2018. Very rare to go past midnight. Occasionally one item has a fight that goes on for a few hours but that's the exception not the rule.

Rhotchkiss · #19 08-13-2024, 12:57 PM

As a bidder, I hate the super late-night, entire thing closes at once auctions. As a consignor, I love it. Having everything close all at once gives bidders the chance to shift without items having already closed like in a lot by lot format. This leads to extra bids, even in the wee hours.

The consignor is the customer.

Aquarian Sports Cards · #20 08-13-2024, 01:17 PM

Quote:

Originally Posted by Rhotchkiss

As a bidder, I hate the super late-night, entire thing closes at once auctions. As a consignor, I love it. Having everything close all at once gives bidders the chance to shift without items having already closed like in a lot by lot format. This leads to extra bids, even in the wee hours.

The consignor is the customer.

There's definitely a delicate balance though (probably moreso for a smaller company like mine) While my fiduciary duty is to my consignor, I feel the best way to serve that duty is to make a buyer friendly auction process. The more comfortable and happier the buyers are the better the results will be for my consignors.

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