Thoughts on How Auctions Houses Deal with Max Bids

70ToppsFanatic

Just curious on what people think about the auction house practice of
jumping to the "next" bid when a different bidder bids against the max bidder.

For example, let's assume at 10% bid increment auction and a lot that starts
at $100.

If the first bidder does a max bid at $161. At that point the current bid shows as $100.

Bidder #2 comes along and tries to bid $110. Most auction houses automatically increment
the original bidders bid to $121 at that point.

However, if the original bidder had made the max bid at $110, then when bidder number 2
tries to bid $110 the auction house only moves the current bid to $110 and shows the original
bidder as the high bidder.

I understand that its in the auction house's interests to move the bid up as much as they can but
why do we as bidders stand for this kind of inconsistent approach? Most auction houses do not
even discuss how they deal with max bids in their rules.

Any thoughts?

Smuggo

BC we all want the stuff and the auction houses (all of them) know we will put up with just about anything they do.

bking

<< <i>BC we all want the stuff and the auction houses (all of them) know we will put up with just about anything they do. >>



yep, it's better than whatever that auction house is that bids on it's own items and admits it in their T.O.S. - I forget the name.

nightcrawler

I found out the hard way that some houses will use your max bid, even if the underbidder amount isn't even close to it. Sadly they lost me as a customer because I'd rather not have to babysit an auction to make sure my bid wins, and I refuse to enter a max bid without knowing if anyone else is even interested in the auction.

I also don't like when auctions get extended for hours because of late bids. When it's over, it should be over, period.

bking

<< <i>I found out the hard way that some houses will use your max bid, even if the underbidder amount isn't even close to it. Sadly they lost me as a customer because I'd rather not have to babysit an auction to make sure my bid wins, and I refuse to enter a max bid without knowing if anyone else is even interested in the auction.

I also don't like when auctions get extended for hours because of late bids. When it's over, it should be over, period. >>



yeah, that's my gripe with Sirius, for one. You're bidding on some nondescript common you want, you're clearly gonna win it at $6, and yet some auction for a 52 SP keeps your auction alive until dawn.