Open Ended Auction Lists?

[Guest]

Nowt to do at the mo!so i thought i would look at a few lists,came across couple of

lists that where auctions but open ended,how`s that work then??? ,the

point of a auction is theres a start point and finnish point,maybe a reserve ie;some

sort of risk!!,this practice should be frowned upon,fukcin`carpet baggers if you ask

me,but you wouldnt?,so tellin`you all anyway........

Anybody else think this practice is unsportsman like??or is just me,its not cricket .........

[Guest]

Nowt to do at the mo!so i thought i would look at a few lists,came across couple of

lists that where auctions but open ended,how`s that work then??? ,the

point of a auction is theres a start point and finnish point,maybe a reserve ie;some

sort of risk!!,this practice should be frowned upon,fukcin`carpet baggers if you ask

me,but you wouldnt?,so tellin`you all anyway........

Anybody else think this practice is unsportsman like??or is just me,its not cricket .........

link

Nobody with a opinion?,am i in the wrong place?.......

[tone5446]

Sotherbys would not approve of this practice. A mate told me that he was bidding on a tune on the biggest northern auction site, he was bidding against another buyer who wanted the same record and as the auction reached the final minute the finishing time kept being extended by a minute, so the price kept increasing.

Another dirty trick to be aware of ?!!

[Pete S]

It's no secret that the auction site you are talking about extends it's closing time by 5 minutes every time a new bid is placed - he told me that, and he'd tell you that if you asked him. Strange way of doing things.

[Guest]

It's no secret that the auction site you are talking about extends it's closing time by 5 minutes every time a new bid is placed - he told me that, and he'd tell you that if you asked him.  Strange way of doing things.

link

What site is this Pete,or did he tell you not to tell?

[Mike]

saw some system where buyer posts wants

and the sellers post the price they sell it off for

sort of a reverse auction thing

lowest price wins

sounds simple enough in theory

in practice ... ???

think it would depend on sellers

think available for site

if anyone think be a worthwhile thing for site

post up and if enough interest will dig deeper and maybe go for a trial

mike

[Guest]

It's no secret that the auction site you are talking about extends it's closing time by 5 minutes every time a new bid is placed - he told me that, and he'd tell you that if you asked him.  Strange way of doing things.

link

This is also explained in writing if you look at his site, indeed a strange way of doing things but not a surprise to anyone since he informs participants about it and they can, as always, choose freely to participate or not. I really don't see the problem. Many use open end auctions, they sell the record when they feel they have received a high enough bid and not before that. Closed auctions, open auctions, whatever, as long as the seller clearly informs of the conditions in advance (no matter how bizarre they may be) I don't see any reason to complain, if you don't like it, don't participate. What IMO is wrong though is to pretend to have certain rules, and then not stick by them, like one dealer I can think of who nearly always will accept bids on records AFTER the auction deadline, as long as the bid that is placed too late is high enough... The bottom line is that there is very rarely any real transparency regardless of auction system so you just have to make your choice and spend your money, or not.

[Guest]

This is also explained in writing if you look at his site, indeed a strange way of doing things but not a surprise to anyone since he informs participants about it and they can, as always, choose freely to participate or not. I really don't see the problem. Many use open end auctions, they sell the record when they feel they have received a high enough bid and not before that. Closed auctions, open auctions, whatever, as long as the seller clearly informs of the conditions in advance (no matter how bizarre they may be) I don't see any reason to complain, if you don't like it, don't participate. What IMO is wrong though is to pretend to have certain rules, and then not stick by them, like one dealer I can think of who nearly always will accept bids on records AFTER the auction deadline, as long as the bid that is placed too late is high enough... The bottom line is that there is very rarely any real transparency regardless of auction system so you just have to make your choice and spend your money, or not.

link

Didnt say it shoudnt be allowed,just a bit cheeky is it not,did not mention any

particuler dealer,as soon as i see a site run in this way i know what to do,look somewhere else,if nobody knows what people think how could it ever change

never?...

[Mike]

saw some system where buyer posts wants

and the sellers post the price they sell it off for

sort of a reverse auction thing

lowest price wins

sounds simple enough in theory

in practice ... ???

think it would depend on sellers

think available for site

if anyone think be a worthwhile thing for site

post up and if enough interest will dig deeper and maybe go for a trial

mike

link

overlooked post or not much interest

[Guest]

overlooked post or not much  interest

link

Not overlooked Mikey,J Trouble did one the other day ask him how it went?

[Guest Baz]

saw some system where buyer posts wants

and the sellers post the price they sell it off for

sort of a reverse auction thing

lowest price wins

sounds simple enough in theory

in practice ... ???

think it would depend on sellers

think available for site

if anyone think be a worthwhile thing for site

post up and if enough interest will dig deeper and maybe go for a trial

mike

link

Kind of like the drop down auction on Manships?

As Ken said James done this with quite a rare funk record early last week, think it could work quite well on a buying perspective

[stomper45]

Sotherbys would not approve of this practice.  A mate told me that he was bidding on a tune on the biggest northern auction site, he was bidding against another buyer who wanted the same record and as the auction reached the final minute the finishing time kept being extended by a minute, so the price kept increasing.

Another dirty trick to be aware of ?!!

link

eh, thought thats exactly how Sotherby's (or Christie's) worked, an item is auctioned going up in price until there is only 1 bidder left

Danny D

[Guest]

eh, thought thats exactly how Sotherby's (or Christie's) worked, an item is auctioned going up in price until there is only 1 bidder left

Danny D

link

yes but every body whos bidding knows when it starts,and the auctioneer dont wait

more than half a minute to his hammer is dropped or not if there is another bidder.

and they dont take weeks its up for sale one min sold the next,might go on view for a few days,but thats your lot!!

[Petebangor]

yes but every body whos bidding knows when it starts,and the auctioneer dont wait

more than half a minute to his hammer is dropped or not if there is another bidder.

and they dont take weeks its up for sale one min sold the next,might go on view for a few days,but thats your lot!!

link

The auctioneer does shout 'Any more bids going,going.gone'giving time for

someone who wants to put another bid in,do so.This carries on until there are no more bidders,as as already posted above.

When you snipe on ebay doesn't it extend the auction by a few more seconds,so that it can take more bids?

Cheers

Pete

[Mace]

The auctioneer does shout 'Any more bids going,going.gone'giving time for

someone who wants to put another bid in,do so.This carries on until there are no more bidders,as as already posted above.

When you snipe on ebay doesn't it extend the auction by a few more seconds,so that it can take more bids?

Cheers

Pete

link

Ebay auctions finish at a fixed time so sniping does not extend the auction run time.

However, the fact that Manships auctions are extended by last minute bidding is fair in my eyes, as it is exactly the same as the auctioneer shouting 'Any more bidds, going going gone'

If gives other bidders time to decide if they want to up their bid or not, and as were all grown adults then its ultimately our decision how high to bid.

Some open ended auctions don't work on this principle though - more along the lines that it won't be sold till the seller gets the price he/she wants.

Pointless running an auction on that basis, may as well start the auction on a min bid price of what the seller actually wants.

I am more doubtful of auctions that have to be increased by a minimun of 10% of the current highest bid.....on a £1000 current bid that's £100 (okay - obvious I know), but I believe that £20 increments are more than fair at this price.

Go on, some one tell me if you can afford to up the bid on a £1000 current bid you shouldn't have to worry about £100 here and there....

Edited August 30, 2005 by Mace

[Guest]

Some open ended auctions don't work on this principle though - more along the lines that it won't be sold till the seller gets the price he/she wants.

Pointless running an auction on that basis, may as well start the auction on a min bid price of what the seller actually wants.

This is kind i was refering to at the start of my thried!!!might as well just put up my

collection not sell any unless i get top price,can only win...cheeky as i am,i aint this

cheeky,wonder whether any lucky person as won anything under the book prices?

doubt it very much!!unless its a in-house bid from a freind,doubt it though people

like this aint got any.......

[Mace]

This is kind i was refering to at the start of my thried!!!might as well just put up my

collection not sell any unless i get top price,can only win...cheeky as i am,i aint this

cheeky,wonder whether any lucky person as won anything under the book prices?

doubt it very much!!unless its a in-house bid from a freind,doubt it though people

like this aint got any.......

link

I know you were Ken - it's the other loons on here that didn't get your point

I have won things from Belgium dealers on these type of auctions (really make us an offer than an auction) and have got things below book prices - though normally I have bought a few different items so could barter for discounted prices.

There is a guy from France who sells via auctions in the fairest manner of all.

You submit your bid, in £ $ or Euros, and winner takes it (some rarer items do have very reasonable minimum bidds)

Have had great bargains from this guy as have been only bidder on some items and won for silly low bidds.

Have also lost out on different currency exchanges by a matter of pennies on other items, but that's the way the cookie crumbles eh

Edited August 30, 2005 by Mace