*Claude,*
*First of all, I'm not advocating eliminating sniper programs... it is
great that they keep one's maximum bid secret, even from the auction
house and it is great that they mean I can keep bidding automatically as
the auction is ending when I can't be at my computer.*
*The only thing extended bidding times at Heritage would do would be to
prevent the behind the scenes, last micro-second ambush where the other
bidders don't have an opportunity to try to try to outbid the last bid.
Which is *exactly* how live floor auctions work -- do you have a problem
bidding in live floor auctions? They *all* have "extended bidding time"
where the guy holding the gavel says "I now have $5,000... do I hear
$5,200? No? $5,200 anyone? Going once at $5,200... going twice.." etc.
If you don't have a problem with live auctions which have extended
bidding times, why should you be so adamant about internet auction
having the same thing?
*
*Whether the other bidders can win if it happens to be you they are
bidding against is immaterial -- the other bidders should still have the
option to try.*
*And besides, if you keep your promise that you will never place a high
maximum on an extended time auction... wait... doesn't that means that
in those cases we actually do stand a chance of winning, even against
you (if you keep that promise)?
*
*-- JR*
Claude Litton wrote:
*What is the point of you seeing a bid in the last few seconds if you
cannot outbid me (as you stated). There isn't a single poster that I
cannot buy so if I want it I can bid with an outrageous price and you
cannot beat me. For example: If a poster has a value around $4,000
to $5,000 based on rarity and recent sales, what good does it do you
if I place a snipe bid of $10,000? You are tilting at windmills.*
**
*There was a poster I wanted a while ago with a value of $5,000 based
on previous sales and similar titles by the same actor. I placed a
snipe bid of $15,000. So what does the knowledge of being beaten
every time you place an extended bid do you? You can't win. There
can only be one winner and these weekly auctions have to end sometime. *
**
*The most important factor here is this. I will not under any
circumstances place a very high bid in an extended format so the loser
is the seller. I do not want anyone to know what I am willing to pay
for a poster. Sniping is the only way to go.*
**
*CJL*
In a message dated 9/28/2009 5:33:21 P.M. Eastern Daylight Time,
jrl...@mediabearonline.com writes:
Todd (and others opposed to 1 or 2 minute extended bidding times),
This is an example where modern technology has corrupted our
cultural philosophy. Letting the sniper programs battle it out in
the last micro-seconds behind the scenes where no one can see what
is going on is just fine if you don't care about the concept of
public auctions being a level playing field where everyone bidding
has the opportunity to keep bidding after a higher bid has trumped
their own. But that is exactly how things are done at live
auctions. Why shouldn't it work that way for internet auctions?
Just because Ebay never did it that way?
I *like* sniper programs and use them. I do agree that it is a
good thing if the auction house cannot see your maximum bid -- no
temptation, no potential conflict of interest and no foul. That's
one of the big positive aspects of sniping programs. And, as you
say, it's great that you don't have to sit at the computer with
your fingers glued to the mouse counting down those last seconds.
But we all know that one's theoretical "maximum bid" is not always
writ in stone. Have you never adjusted your maximum snipe bid as
the auction was nearing its close and you saw how the bidding was
going and decided that maybe your original maximum might not be
quite enough? I certainly have.
If someone has enough money to place extremely high maximum sniper
bids on anything they want and so virtually guarantee they will
win 99% of what they bid on... well that's very nice for them,
isn't it? But most of us -- even those who do use sniper programs
like myself -- don't have that luxury and we should be able to see
what the last bid is and decide (quickly) if we want to try to
outbid or not. Fair is fair.
-- JR
Todd Spoor wrote:
To All,
I really don't see the point of extended bidding, if you put in
the MAXIMUM you want to spend in the first place, if you get
outbid in the last second, so what, you weren't going to spend
more than that anyways!!! Sniping is a great way to enter a
Maximum bid and NOT have to watch the auction especially if it
closes at an odd time or if you are at work. I win 99% of every
auction I bid because of sniping plus the AUCTION HOUSE can not
see my maximum bid!!!
Todd Spoor
-----Original Message-----
From: James Richard
Sent: Sep 28, 2009 4:05 PM
To: MoPo-L@LISTSERV.AMERICAN.EDU
Subject: Re: [MOPO] An odd incident on this past Sunday
Heritage Auction
Grey,
How is extended bidding a waste of time? If no last second
bid comes in, then the auction closes as scheduled. If a last
second bid does come in, automatically extending the
auction's end time by maybe 2 minutes gives other bidders who
want the item a chance to trump the last-second bid. Hardly a
waste of their time if it means they win and auction they
otherwise would have lost -- and both Heritage and the
consigner make more money.
Where's the downside?
I do think the implementation of extended bidding at
emovieposter.com is too broad. I think in that case that if a
bid comes in during the last 5 minutes the end time is
extended by 5 minutes -- since lots of people prefer to place
a bid in the last couple of minutes, parameters like that
*do* tend to waste people's time. To work more efficiently,
parameters should probably be 1 or 2 minutes. An extra 2
minutes isn't going to bother someone -- not if they really
want the poster -- and it puts everyone on a level playing
field whether they are using gavelsnipe.com or not.
-- JR
Smith, Grey - 1367 wrote:
Hi, John.
Well, the email was supposed to go private but my mistake.
Yes, many snipe bid on the site now.
In fact, as you are aware, we end all items at 10PM CT every
Sunday evening, so many prefer not to have to sit by the
computer.
My belief is that the extended bidding platform is a waste
of our bidder's time, though one of our other divisions does
use it.
Grey
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