Auction house closing times

[raulus]

I suspect they think that their primary bidding demographic is located in Southeast Asia, so they're focused on making sure that those bidders can leisurely submit their final bids in the afternoon while the rest of us are sound asleep.

[Brent G.]

Originally Posted by raulus

I suspect they think that their primary bidding demographic is located in Southeast Asia, so they're focused on making sure that those bidders can leisurely submit their final bids in the afternoon while the rest of us are sound asleep.

I guess this is America, and we outsource everything, so perhaps someone in Vietnam is overseeing this auction from 12:30-2:45 p.m.

[frankbmd]

Originally Posted by Brent G.

I guess this is America, and we outsource everything, so perhaps someone in Vietnam is overseeing this auction from 12:30-2:45 p.m.

You lose a day at the Date Line when going to Viet Nam.

[JJ McGraw]

I guess , when bidding recently, I bid ( while still awake) my max and then go to bed. Usually I don’t win this way, but I have never liked this practice of “ regular bidding over….but wait….now EXTENDED bidding begins.” Many other venues I have participated in, like Gunbroker, have a specific beginning and end, and you can plan and count on that. There have been a lot of cool items this year on these auctions, but I absolutely hate extending bidding hours and hours after it should have ended. Nothing will change, the powers won’t read any of this, but sometimes, it’s good to vent.

[Brent G.]

Originally Posted by JJ McGraw

I guess , when bidding recently, I bid ( while still awake) my max and then go to bed. Usually I don’t win this way, but I have never liked this practice of “ regular bidding over….but wait….now EXTENDED bidding begins.” Many other venues I have participated in, like Gunbroker, have a specific beginning and end, and you can plan and count on that. There have been a lot of cool items this year on these auctions, but I absolutely hate extending bidding hours and hours after it should have ended. Nothing will change, the powers won’t read any of this, but sometimes, it’s good to vent.

I hear you, Mike. Maybe they believe we're prone to make worse decisions with our money late at night.

[Lorewalker]

Memory Lane's auctions consistently end at 5AM EST...some have gone later. I think I saw one that went until 9AM a few years ago. Judging by prices they get in every auction I would say it has not been a deterrent whatsoever. Buyers have insane stamina and tolerance for almost anything, it seems, as long as you offer them a card they need. Cards first and absolutely everything else is a distant second.

[4815162342]

Originally Posted by Lorewalker

… Buyers have insane stamina and tolerance for almost anything, it seems, as long as you offer them a card they need. Cards first and absolutely everything else is a distant second.

+1

[Aquarian Sports Cards]

Originally Posted by JJ McGraw

I guess , when bidding recently, I bid ( while still awake) my max and then go to bed. Usually I don’t win this way, but I have never liked this practice of “ regular bidding over….but wait….now EXTENDED bidding begins.” Many other venues I have participated in, like Gunbroker, have a specific beginning and end, and you can plan and count on that. There have been a lot of cool items this year on these auctions, but I absolutely hate extending bidding hours and hours after it should have ended. Nothing will change, the powers won’t read any of this, but sometimes, it’s good to vent.

The point of extended bidding is to more accurately mimic a live auction. Could you imagine going to a live auction where, while an item was receiving bids, an auctioneer said, "whoops, sorry, time is up on that lot"

The best match would be a format where each lot ended after the previous lot finished receiving bids, which some general auction houses actually use, but if you think auctions run late now, yikes. If you only have a few hundred lots it's barely doable, but a 3000 lot auction could literally take a week to close.

To make it even remotely feasible the extended bidding models have evolved. I will say I definitely prefer the model where lost close on their own individual clocks, where one bid can't keep the entire auction open. But again, an auction of a given item isn't supposed to end at an arbitrary time, that is completely anathema to the point of an auction. An auction is supposed to end when nobody wants to place any more bids.

[Brent G.]

Originally Posted by Aquarian Sports Cards

The point of extended bidding is to more accurately mimic a live auction. Could you imagine going to a live auction where, while an item was receiving bids, an auctioneer said, "whoops, sorry, time is up on that lot"

The best match would be a format where each lot ended after the previous lot finished receiving bids, which some general auction houses actually use, but if you think auctions run late now, yikes. If you only have a few hundred lots it's barely doable, but a 3000 lot auction could literally take a week to close.

To make it even remotely feasible the extended bidding models have evolved. I will say I definitely prefer the model where lost close on their own individual clocks, where one bid can't keep the entire auction open. But again, an auction of a given item isn't supposed to end at an arbitrary time, that is completely anathema to the point of an auction. An auction is supposed to end when nobody wants to place any more bids.

I think all this can be achieved before midnight EST.

[Peter_Spaeth]

As people get more and more tired (and in some cases more drunk) they get more irrational. And if you're an auction house, if it's working, don't fix it.

[sbfinley]

If it’s a lot by lot basis - as the provided image is - then 90% of the auction will close in first hour of extended bidding. In this auction case you also have to apready have previous bid on a specific lot to be eligible for extended bidding so that’s going to cut close times as well.

But yes, staying up past our bedtime to win baseball cards is an inherently 1st world problem.