Comic Connect Extended Bidding

[Park]

CAL who won't bid the "extended auctions" on the aforementioned sites above...

 

I'm with CAL on this one. I'm looking for a deal, not to be someone else's open pocket book during an auction.

 

I think it's important to point out that there is nothing ethically wrong with an extended time auction (shill bidding aside).

 

It's in the auction houses best interest to get the most they legally and honestly can for the consignor.

 

For buyers looking for a bargain, yeah it sucks, but it seems that even with extended bidding some bargains are available.

 

I can see pros and cons for both extended bidding and time close bidding.

 

 

It is not always about finding a bargain though. Extended bidding is strictly a business move to generate more dollars for the seller and the auction house. Ethics don't have anything to do with it really.

 

It is not worth my time, as a buyer, to sit around and stick my thumb in my rear because someone else can't make a decision. If I wanted to do that, I would attend Live auctions. In that sense, the extended bidding doesn't work because they lost my bid.

 

Although in a live auction, the bidding is not going to continue for hours, I imagine. I haven't been to any so that is just a guess on my part.

 

On the other hand, collectors are an emotional group and extended bidding takes advantage of that in spades so at worst, it is a wash.It (extended bidding) probably comes out on top though.

[MCMiles]

Snipes are nice as a buyer because it allows a last second bid, A definite termination point that doesn't allow the "emotional" bidder to keep going up, which what "extended bidding" is allowing to happen. It obviously favors the house and the seller.

 

Bid what you are willing to pay and leave it alone seems to be the obvious solution.

 

The only draw back is it does make it extremely difficult to manage multiple bids on multiple items limited by a budget. I'm sure many bidders often go into an auction with several items on their radar and the idea "if I don't win this one, I'm going for that one". Extended bidding and even auctions ending at the same time or with in minutes of each other will complicate the decision making for the buyer.

[Point Five]

The only draw back is it does make it extremely difficult to manage multiple bids on multiple items limited by a budget. I'm sure many bidders often go into an auction with several items on their radar and the idea "if I don't win this one, I'm going for that one". Extended bidding and even auctions ending at the same time or with in minutes of each other will complicate the decision making for the buyer.

This. (thumbs u

 

 

[red rocks-migration]

well, the key factor is the number of bidders imho

 

It seems everyone likes Comiclink, so with a lot of bidders you tend to get good prices for things. Someone puts in their max bid of 75-100% of gpa, beating all the low ballers, and then if someone wants the book, they just pay gpa and get it.

 

The best auction for sellers is something like the Billy Wright or Twin Cities because you have so many bidders. And no one wants to go home without at least one book... What fun is that?

 

I'm not sure the 2 minute extended period really matters as much as the deep pool of bidders bidding

 

On Doug's site, I think its more like: "so you are the only bidder, you have deep pockets, and you want this really cool and hard to find book that never goes on sale?" "well then you will have to beat the shill and pay up if you want it"

[MCMiles]

well, the key factor is the number of bidders imho

 

It seems everyone likes Comiclink, so with a lot of bidders you tend to get good prices for things. Someone puts in their max bid of 75-100% of gpa, beating all the low ballers, and then if someone wants the book, they just pay gpa and get it.

 

The best auction for sellers is something like the Billy Wright or Twin Cities because you have so many bidders. And no one wants to go home without at least one book... What fun is that?

 

I'm not sure the 2 minute extended period really matters as much as the deep pool of bidders bidding

 

On Doug's site, I think its more like: "so you are the only bidder, you have deep pockets, and you want this really cool and hard to find book that never goes on sale?" "well then you will have to beat the shill and pay up if you want it"

 

Great post.

[Guardian Comics]

Well if you don't like this, then check this out!!!

 

I participated for the first time last November in another auction, in a different collecting realm. The auction ends at 10:00PM but doesn't officially end until five minutes have passed between the last bid. The entire auction remains open and anything can be bid on, even if you didn't bid on the item before the extended period!!! The auction in November finally closed at about 7:00 AM in the morning and went bidding continued 9 hours after the auctions "close".

 

That format truly sucks.

 

Jim

[JiveTurkeyMoFo]

Well if you don't like this, then check this out!!!

 

I participated for the first time last November in another auction, in a different collecting realm. The auction ends at 10:00PM but doesn't officially end until five minutes have passed between the last bid. The entire auction remains open and anything can be bid on, even if you didn't bid on the item before the extended period!!! The auction in November finally closed at about 7:00 AM in the morning and went bidding continued 9 hours after the auctions "close".

 

That format truly sucks.

 

Jim

 

I love comics, but I don't love them that much. That format really blows.

[JiveTurkeyMoFo]

I can see pros and cons for both extended bidding and time close bidding.

 

 

But of course you do....

[VintageComics]

I can see pros and cons for both extended bidding and time close bidding.

 

 

But of course you do....

 

If you're a consignor, you're going to appreciate the extra dollars.

If you're a bidder, you're going to appreciate the ability to snipe.

 

 

[JiveTurkeyMoFo]

I can see pros and cons for both extended bidding and time close bidding.

 

 

But of course you do....

 

If you're a consignor, you're going to appreciate the extra dollars.

If you're a bidder, you're going to appreciate the ability to snipe.

 

 

I was just messing with your Fair-and-Balanced approach to looking at things Roy.

[VintageComics]

(thumbs u

[Mio]

Sorry if this has been discussed before, I used the search function but couldn't narrow it. I had never bid on the Comic Connect Auctions before tonight, so I put in my bid within the last few moments and turn out to be the high bidder ..... but when the auction is supposed to end, it does not end. It enters Extended Bidding Huh what is that? Well after a few more items I figure out that they have it RIGGED so that if there is a bid within the last minute or so the auction end resets to add 2 minutes

 

I actually did like 4 double takes because I couldn't believe it. I will post my impression of this tactic to bleed a stone in gremlins.

 

 

So to recap: Heritage has the Juice ; Comic link has the Paypal fee whatever they want to call it and Comic Connect has Extended Bidding

 

They need a puppet on a string gremlin

 

How is it different than any live auction where the floor has a chance to respond to any new high bids? Gripe about it if you want, but it is an age-old method to run an auction.

[shadroch]

It is the way auctions have been run since there were auctions to be run.

The person willing to bid the most wins. Good for the seller, good for the auctioneer and good for the winner. The rest is just noise. If you don't win, its because you were not willing to pay more than someone else was.

[Dr. Balls]

Sorry if this has been discussed before, I used the search function but couldn't narrow it. I had never bid on the Comic Connect Auctions before tonight, so I put in my bid within the last few moments and turn out to be the high bidder ..... but when the auction is supposed to end, it does not end. It enters Extended Bidding Huh what is that? Well after a few more items I figure out that they have it RIGGED so that if there is a bid within the last minute or so the auction end resets to add 2 minutes

 

I actually did like 4 double takes because I couldn't believe it. I will post my impression of this tactic to bleed a stone in gremlins.

 

 

So to recap: Heritage has the Juice ; Comic link has the Paypal fee whatever they want to call it and Comic Connect has Extended Bidding

 

They need a puppet on a string gremlin

 

How is it different than any live auction where the floor has a chance to respond to any new high bids? Gripe about it if you want, but it is an age-old method to run an auction.

 

In a live auction, you literally have seconds to decide. Not minutes. It's much different than a live auction. Giving bidders five minutes to come up with "final" bids is a bit excessive.

 

If the working theory here is that all interested parties are paying attention to the auction the last few minutes, then they would be able to enter in another bid within seconds of being outbid (since the active bidders are clicking refresh - or the page auto-refreshes). This two minutes/five minutes malarky is a tad too much - at least for me.

 

But - if you don't mind it, participate. If you don't like it, don't participate. Simple enough for me.

[Calamerica]

Those sites that have the "extended times" lost me as a bidder forever. Wonder if I am the only one they lost?

 

CAL who does not think so...

[matter-migration]

I cant count the number of times that I was sniped back in the day on eBay where I would have absolutely paid more for an item than the winning bid.

 

This makes no sense whatsoever. Why wouldn't you bid your true max in the first place?

[matter-migration]

Sorry if this has been discussed before, I used the search function but couldn't narrow it. I had never bid on the Comic Connect Auctions before tonight, so I put in my bid within the last few moments and turn out to be the high bidder ..... but when the auction is supposed to end, it does not end. It enters Extended Bidding Huh what is that? Well after a few more items I figure out that they have it RIGGED so that if there is a bid within the last minute or so the auction end resets to add 2 minutes

 

I actually did like 4 double takes because I couldn't believe it. I will post my impression of this tactic to bleed a stone in gremlins.

 

 

So to recap: Heritage has the Juice ; Comic link has the Paypal fee whatever they want to call it and Comic Connect has Extended Bidding

 

They need a puppet on a string gremlin

 

How is it different than any live auction where the floor has a chance to respond to any new high bids? Gripe about it if you want, but it is an age-old method to run an auction.

 

Before there was an internet it was... hello, welcome to the 21st century. Things are different now.

[Calamerica]

Sorry if this has been discussed before, I used the search function but couldn't narrow it. I had never bid on the Comic Connect Auctions before tonight, so I put in my bid within the last few moments and turn out to be the high bidder ..... but when the auction is supposed to end, it does not end. It enters Extended Bidding Huh what is that? Well after a few more items I figure out that they have it RIGGED so that if there is a bid within the last minute or so the auction end resets to add 2 minutes

 

I actually did like 4 double takes because I couldn't believe it. I will post my impression of this tactic to bleed a stone in gremlins.

 

 

So to recap: Heritage has the Juice ; Comic link has the Paypal fee whatever they want to call it and Comic Connect has Extended Bidding

 

They need a puppet on a string gremlin

 

How is it different than any live auction where the floor has a chance to respond to any new high bids? Gripe about it if you want, but it is an age-old method to run an auction.

 

Before there was an internet it was... hello, welcome to the 21st century. Things are different now.

 

What they did( Heritage, Pedigree, C Link. C Connect) was to give eBay a breathing chance. eBay is NOT going to have the "other modern 21st century" auction add-ons" and they all had eBay scrambling to a degree...

 

I still snipe on the 'Bay.

 

CAL who believes in the Final hammer bids style...

[roulette44]

I cant count the number of times that I was sniped back in the day on eBay where I would have absolutely paid more for an item than the winning bid.

 

There is an incredibly easy solution to this as a buyer--bid what you're willing to pay, and E-Bay (or any of the other sites) will automatically place a higher bid. Why would anyone not do this? Deciding in the closing minutes of an auction what you're actually willing to pay for something is a formula for emotional overspending--which is why it favors sellers.

 

After looking at your signature, i fell of my chair and completely forgot what this thead was about!

[jbud73]

When I made the initial post in this thread I was in mode and a little put off by the format. I've read the arguments on both sides (thanks for those as they have been well considered) and still favor a straight up close over the extended bidding. In live auctions you can a majority of the time see who you are bidding against, it is much harder to shill.

 

This format predisposes itself to shilling, I guess that is why Pedigree uses it, I'm not saying that CC is shilling, but it makes you wonder why they would set it up like that. 5-7 years ago we were all crying over the Heritage auction issues, but honestly believe (even with the enormous juice) that they are by far ____________ the best auction house out there for comics and comic art. Competition is a good thing, but it seems that the new auction houses are bringing the sort of tactics to that competition that makes me wonder if we are better off having them around.