just another auction (verkman)

[HexsHeroes]

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. . . I, too, would like to see the rule universally applied that a bidder has to have placed an initial bid before a set time, inorder to have the right to bid thereafter.

Also universally applied, if only one bid has been placed on a lot by the set time, that lot is now closed. Period.

Regarding Clean Sweep auctions, I enjoy bidding in them. But I have noticed a item or two keep reappearring. Perhaps the successful bidder reneged. Perhaps the consignor was the highest bidder. Which brings me to my next point. Is it possible that the additional bid after you signed out was due to a seller's reserve price? I don't think I've seen it mentioned in lot descriptions for Clean Sweep that a reserve is in play. I may be wrong, but I don't recall seeing mention of a reserve on the lots I considered bidding upon over the past few year. Based on this thought, my guess is the late activity might be an unknown reserve in play.

[perezfan]

Agree with everything Vincent stated above.... great post!

[sox1903wschamp]

Originally Posted by HexsHeroes

Which brings me to my next point. Is it possible that the additional bid after you signed out was due to a seller's reserve price? I don't think I've seen it mentioned in lot descriptions for Clean Sweep that a reserve is in play. I may be wrong, but I don't recall seeing mention of a reserve on the lots I considered bidding upon over the past few year. Based on this thought, my guess is the late activity might be an unknown reserve in play.

He has pretty high starting bids (more then the industry standard) which I think are the reserves. I do not believe he has "hidden" reserves based on bidding with them for 20 years. That has been my experience.

[thecatspajamas]

redundant deleted

[peterb69]

I'm sorry, but could somebody explain snipe bidding & shill bidding to me?

Thanks

[Leon]

I merged the 2 separate threads and, since Larry retracted his initial thought, I took out one word in the title of the thread to be fair to the auction house.

Sniping is bidding at the very end of an auction. On ebay it is usually done with a 3rd party software. Shilling is bidding with no intention of winning the card, usually to make the price inflated.

[Bobsbats]

If you don't like the way Steve runs an auction.....don't bid anymore ! We have all lost lots in auctions and it stinks, but if you wanted to win the lot, BID more.....It's that simple.

[steve B]

Originally Posted by peterb69

I'm sorry, but could somebody explain snipe bidding & shill bidding to me?

Thanks

Snipe bidding is typical on ebay where there's a set ending time. Bid as close to the end as possible to prevent someone else from bidding against your bid.
It sometimes works to keep the price paid minimal, and more often just helps win. The drawback of course is that if you really want an item and your bid isn't big enough you have no time to bid higher.(Unless like I've done you place one reasonable bid at say 7 seconds and another less sane bid at 2 seconds. I've done that manually, but only a couple times)
The rules allow this, and it's legal.

Shill bidding is where a bidder, either from the auction house or sometimes a friend of a seller or the seller themselves using a different ID bid on an item with no intent to win but merely to drive the price up. It's not legal in most places. if an auctioneer knows someone is doing it, they should bar the person from that auction at the least. It's easily confused with proxy bidding up to the level of a hidden reserve.
Good auctions will usually expose the reserve after the auction if it's not met. I've seen a live auction expose the reserve and reopen the bidding if the reserve was very close to the high bid.
(Car bid to 7250, reserve announced as 7500- bidding reopened when a bidder yelled "yes 7500" - sold for 8250 or something like that)

Steve B