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HELP: Favorite way to bid at auction?


Guest coral99
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Guest coral99

Hello,

My name is Matt and I am conducting a survey of auto collectors and enthusiasts who regularly participate in auctions. Specifically, I am trying to get an understanding of how the auction landscape is changing as more live, non-Ebay auctions offer an online component. I would like to request your help by taking a brief 10 question survey about your bidding and auction preferences here: https://www.surveymonkey.com/s/KMSVZNW

There is no cost and I can offer only my gratitude for your help. I appreciate any and all responses and questions.

Mods - if you feel this does not belong in your forum, please let me know and I will be happy to take it down.

Best,

Matt

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Guest AlCapone
I don't believe auctions should be done on line.There is too much chance of funny business going on. That's just my opinion.

Right on Dave, I totally agree with you !

Wayne

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I don't believe auctions should be done on line.There is too much chance of funny business going on. That's just my opinion.

I agree! When I go to an auction it's all eye contact. When the bid goes up I'm always wondering if it's the guy with the laptop from the auction company.........

I hear it always brings in more cash and that's what it's all about. We will just have to deal with it.

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There is an old saying at auto auctions: "The Coke machine in the back of the room is bidding against me".

Hands flying up, yelling, blah blah blah and sometimes not even the Coke macie makes the reserve.

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I believe it is not illegal for the auctioneer to take shill bids up to the reserve price. Unethical maybe. I figure when a reserve price has been met and the auctioneer spends an inordinate amount of time practically begging for just one more bid the bid that "met the reserve" must be phony. As far as bidding strategies, I like to bid rapidly up to one bid short of my maximum bid then stop. I figure this will cause the opposing bidder to think "I wonder why he stopped suddenly? Does he know something I don't? Am I making a mistake?" Sort of instant "buyer's remorse". Often one more bid will then buy me the item.

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The online offerings of any sort, auctions or private ads can be either a happy deal or a disgusting disappointment.

I have had both experiences. I had one guy flat out lie to me while others just don't know anything about what they are representing.

I am not totally opposed to the sight unseen thing, but some bone heads have the silver tongue and will mislead you to make a sale.

If you are considering this I would make friends with the seller via multiple phone calls and keep notes. If he changes any thing in his conversations then be wary.

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Online bidding doesn't bother me, but it's not as dependable as in-person bidding. Internet & computer glitches are common. However, the internet allows me to bid in foreign auctions much more easily, and pay more easily also. I can view items online instead of purchasing a $75 catalog. If I'm selling at auction, I want as many bidders as possible. If I'm buying, I want to be the only bidder.

Phil

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Guest coral99

Thanks for the comments. I prefer to attend auctions in person but I like that online auctions have extensive - and free - catalogues and I can browse auctions at a distance that I would otherwise not get to participate in. However, I think the extra commission an online auction charges can sometimes be expensive.

Thanks also to anyone that took the survey: https://www.surveymonkey.com/s/KMSVZNW. If you have not and have a few minutes I'd be grateful to capture some of the same opinions above via the survey. Happy for all help.

Matt

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I like both methods if they are set up and run properly. Homer's auction in Nebraska was a disappointment. The preview day allowed buyers to browse all of the items and get prepared for the main auction the next day. The problem was that valuable items disappeared from one table and appeared at another table mixed in with with other picked over stuff. Could not find half the items I looked at the previous day. The best online auction I was involved with was Greg Tocket's auction. The catalog items were pictured nicely and rare items changed hands with no problems. The auction companies are the ones to be concerned with. There are great ones and not so great ones. I avoid "barn find" auctions and go with detailed, documented items. I don't mind paying a little more if it is authentic. Just my opinion. Good luck.

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Guest AlCapone

I have found that on many online auctions the items are misrepresented. The photographs always shows the good side. Many a surprise has arrived at my front door from unscrupulous sellers. I absolutely beware of Ebay. Wayne

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Guest coral99

I like to bid online because I can participate in auctions several hundred miles from my location. It comes with risks though and I've been burned a few times.

I appreciate everyone's comments. Here is a link to the survey if you have not had a chance to take it: https://www.surveymonkey.com/s/KMSVZNW. It's quick and has some questions around online auctions and whether they are worth it.

Matt

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I have been going to auctions for almost fifty years. I don’t bid on something I want until the last second before the auctioneer drops the gavel. If two or three people have been biding and they think its over and then I jump in as a new bidder they tend to think screw it he’s just getting started at this price. Auctioneers don’t like guys like me and they have their methods of dealing with it. Online auctions are run by a computer and I don’t enjoy that as much.

My wife just started going to auctions with me recently. My friends and I were shocked by how bad she gets auction buzzed. She will buy stuff that we cant possibly use just because in her head its too good of a deal to pass on.

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My experience is that online bidding for live auctions leaves a lot to be desired. The bidding programs and software many auction houses use is frankly just terrible: antiquated, slow, error/glitch prone, etc. Also remember that online bidding for live auctions requires that someone be on the other end with a working connection, computer, and software to be able to accept your bid and make sure that it is conveyed to the auctioneer. THAT is usually where the biggest problem is in my experience...the auctions often move so quickly that real internet bids cannot keep up or the auctioneer drops the hammer to an "in the room" buyer even though there may well have been a higher bidder online whose bid may not have been registered by the auctioneer. It happens all the time.

I have been burned too many times and in too many different ways to bother with online bidding for live auctions anymore. I do bid and buy on eBay frequently...it's a whole different animal. They "get" online auctions. There is actually good customer support there that leans heavily towards the buyer in the event that things go bad. I've never had a situation that went bad and/or that eBay customer service didn't make right for me. My experience doing the online bidding for live auctions is almost completely the opposite.

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I had a friend send me this on my email. It's a good example of what we were talking about. Nice pics but will anybody want to bid online? Bids start at $35.

http://www.auctionzip.com/Listings/2156680.html

I would not bid on that due to the way the site is set up. It doesn't appear professional. Having to click another link just to see photos is a big no-no, and all of the ads are very much a turn off. It appears thrown together and doesn't do justice to what appears to be some fantastic items for sale. Auction sites shouldn't allow ads, they shouldn't need them.

I use local online estate auctions to buy items I can preview and pick up in person. Their sites are very clean, no ads, fantastic photos, and a local phone number you can call and get answers from someone local.

I use eBay because I have for 15 years and it works for me. Not a lot, as I do 3-4 transactions a year there.

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I would not bid on that due to the way the site is set up. It doesn't appear professional. Having to click another link just to see photos is a big no-no, and all of the ads are very much a turn off. It appears thrown together and doesn't do justice to what appears to be some fantastic items for sale. Auction sites shouldn't allow ads, they shouldn't need them.

That's interesting. Auctionzip is one of the larger, more reputable, and more reliable facilitators of online bidding for a lot of smaller auction companies. I would personally be more inclined to bid in an Auctionzip facilitated auction that I would be to bid through the auction house's own proprietary system.

Overall though, I don't feel that online bidding for live auctions works well. I've "lost" items when the computer has logged my bids (correctly) at higher prices than the auctioneer dropped the hammer on to an "in the room bidder." In one case I had an auction company (which I will not name) tell a friend that found himself in the same situation that if he was a "serious bidder" he should have gotten on a plane a flown in for the auction rather than bid online! If that's the stance an auction company wants to take regarding a failure of their own online bidding system, I am not interested in participating. There are many, many other places where I can go a gladly have businesses take my money without the headache!

Coral99 - I did take the survey.

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I like to go to the major auctions, get half in the bag and bid wildly on any car that takes my fancy.

You are certainly not the only guy doing that. Watch any Barrett-Jackson auction and you'll see a good number of guys with at least one sheet to the wind. There's a reason the beer is cheap (or free).

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I have been using e-bay for about 12 years. I bought and sold many times (bought more then sold) everything from bolts to cars. Never had a problem! The feedback rating is a great tool

Always remember in an auction the one who wins is willing to pay more then anyone else

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Guest cben09

Carl Amsley directed in his will that Mervin Hilpippre of Ceder Rapids Iowa,,I think,,

would do his estate auction,,,

What a day,,More stuff changed hands before 3pm than was possible elsewhere,,

It was the auction day of the century,,Many times the rate was over a item in 6 seconds

If you lost your place in the catalogue,,it might take 6 items or more to find your place again,,

Some lo value items at 3 seconds maybee,,Was anyone from here,, there ???

Carls spirit came with us for one more day to have the last laugh,How to sell!!,,,cheers,,Ben,,

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It depends what it is. If it's a higher dollar item and the auctioneer starts with some ridiculously low bid I'm going to throw in a high opener for two reasons.

It immediately removes the low ballers who like to hear themselves bid and it shows everyone I'm serious about it.

If it's something you are bound and determined to take home with you don't waver for a split second! Raise the competition's bid before he has his mouth shut....... ;)

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Wasn't there but a customer of mine has the large sign from Carl's trailer. It may end up here on my wall some day.

Carl Amsley directed in his will that Mervin Hilpippre of Ceder Rapids Iowa,,I think,,

would do his estate auction,,,

What a day,,More stuff changed hands before 3pm than was possible elsewhere,,

It was the auction day of the century,,Many times the rate was over a item in 6 seconds

If you lost your place in the catalogue,,it might take 6 items or more to find your place again,,

Some lo value items at 3 seconds maybee,,Was anyone from here,, there ???

Carls spirit came with us for one more day to have the last laugh,How to sell!!,,,cheers,,Ben,,

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Internet auctions can be okay so long as you understand them and use your head. Ebay is fine with me since it is so big and well understood. Fly by night internet auction wannabe websites I tend to ignore. In person auctions are fine with me as well and again so long as you know there will be some funny business by 95% of the auctioneers out there, and there will be mind games and efforts by other bidders to bid you up if they think you want an item in an effort to get you spent out and unable to bid on later items in the auction. What I really do not like are in person auctions that allow internet and telephone bidders. That is a recipe for blatant abuse and I will not bid in those kinds of auctions.

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