15 minute rule - flustrating

[patracy]

There was a smilie at the end of the first line indicating it was a joke. The later was my opinion on the bidding process.

 

[USAFSS-ColdWarrior]

I noticed that smile.
Don't you think you should wash off that green cosmetic mask before you appear in public?

 

[m16ty]

A true auction should have a set end time - PERIOD.

Personally, I'd rather the 15 min rule not be there but there's nothing ethically wrong with it.

Long before the internet there were live auctions. I've never been to one of them where they stop selling on a item at a set time. They stop selling when the bidding stops. That's basically what the 15 min rule is, they consider it sold when everybody stops bidding, not by time.

 

[dependable]

And as the night wears on 15 minuets at a time, another beer or so and that truck or gen set looks better and better.

A conspiracy, or just good marketing? Ha ha.

 

[Artisan]

...or what if the people that own the software, you know the ones,
the same people who can see maximum bids, what if it gives
them time to make shill bids to bump things up?

Things that make ya go hmmmmmmmmmmmmmmm.

 

[robson1015]

Live auction is a separate animal. Internet auction should have a set end time so you can have a life instead of sitting there 15 minutes at a clip for possibly hours. But I don't make the rules, I do accept them. This is my opinion - we all have one. I'm assuming the thread was started to express your frustration with the 15 minute rule and that is what I am doing.

 

[m16ty]

Live auction is a separate animal. Internet auction should have a set end time so you can have a life instead of sitting there 15 minutes at a clip for possibly hours. But I don't make the rules, I do accept them. This is my opinion - we all have one. I'm assuming the thread was started to express your frustration with the 15 minute rule and that is what I am doing.

Just set your max bid and walk away from the computer and check back the next day to see if you've won. With a proxy bid, there's no reason at all to sit there way past close time pecking away, one bid at a time.

 

[Daybreak]

Howdy,
In the real world. There is no time limit. Bidding at a real auction will go until there are no more bids. That means if you think it will be 10 minutes, and it takes 1 hour, that's how it works.

I would say anyone complaining about the 15 minute rule after last bid has never been sniped at other auctions which have a hard stop time.

m16ty is right on the money. Determine what you high bid is, place it, walk away and see when you get the email saying you were high bidder.

 

[98G]

Howdy,

m16ty is right on the money. Determine what you high bid is, place it, walk away and see when you get the email saying you were high bidder.

That won't work well when there's 60 identical lots of the same thing. Do you pick just one lot? Or do you risk winning multiples?

Here's how that plays out - there's 60 lots. You want one lot. You're willing to pay $1000 for it. You toss a bid of $1000 at one of the lots and walk away. The next day you go review the results, and the lot you bid on closed at $1070, and the other 59 lots sold for $700. All 60 lots were sold to the same bidder, who now lists the items retail at enormous profit....

i sincerely hope that m16ty and daybreak practice what they advocate...

 

[rhurey]

But the alternative is there's 60 lots that close at noon.

All are going for 500 at 11:58. At 11:59:50 an automatic bidder swoops in and bids on all of them to 550 and walks away with 57.

It's not worth trying to automate sniping on eBay, but with 60 identical items all ending at the same time? Worthwhile. And GL's html is much simpler.

We can debate the 15 minute rule, or GP's 5 minute windows and having to take an entire morning to try and win multiple things, but all the alternatives have different problems. So best case is you get to pick the devil you like.

 

[m16ty]

That won't work well when there's 60 identical lots of the same thing. Do you pick just one lot? Or do you risk winning multiples?

Here's how that plays out - there's 60 lots. You want one lot. You're willing to pay $1000 for it. You toss a bid of $1000 at one of the lots and walk away. The next day you go review the results, and the lot you bid on closed at $1070, and the other 59 lots sold for $700. All 60 lots were sold to the same bidder, who now lists the items retail at enormous profit....

i sincerely hope that m16ty and daybreak practice what they advocate...

Actually what I do in that situation is start watching a hour before close time and usually won't bid until their is about 30 minutes left. I may get outbid and move over to another lot before close time but after set close time I usually just let my max bid ride and check back later to seen how it worked out.

I don't see how it would be any better with 60 identical lots all ending at a fixed closed time with a bunch of people jumping in at the last second with snipe bids.

The only thing that frustrates me is people trying to snipe with the 15 min rule. News flash, it doesn't work. That's what makes the auction go on for ever.

 

[rhurey]

The only thing that frustrates me is people trying to snipe with the 15 min rule. News flash, it doesn't work. That's what makes the auction go on for ever.

Fillibuster's a valid technique.

Take the shot the other guy finally ran out of time, had a commitment, went to a meeting, saw something shiny and lost track, or just gave up on 1 of 2 cause he realized you only want one of them.

 

[98G]

Fillibuster's a valid technique.

Take the shot the other guy finally ran out of time, had a commitment, went to a meeting, saw something shiny and lost track, or just gave up on 1 of 2 cause he realized you only want one of them.

THIS! Annoy the other bidders until they give up in disgust.

Or the guy that wants all 19 lots will give up and let you have 1 lot just to keep you from running up the prices on all of them.