time limits Hi All, I was bidding on item 143, the time on this item was listed as running out just after 2 PM my time. I then noticed that there are now over 3 hours of time left. Is it possible for the time limit to be extended ? What gives ? Bill http://www.mindat.org/forum.php?read,102,170245,170245#msg-170245 Fri, 24 May 2013 15:21:16 +0000 Phorum 5.2.15a http://www.mindat.org/forum.php?read,102,170245,206348#msg-206348 Re: time limits http://www.mindat.org/forum.php?read,102,170245,206348#msg-206348 Steve Stuart Mindat Auctions Fri, 17 Dec 2010 01:04:46 +0000 http://www.mindat.org/forum.php?read,102,170245,206345#msg-206345 Re: time limits http://www.mindat.org/forum.php?read,102,170245,206345#msg-206345
Last-minute sniping bids prevent previous bidders from having the option to outbid you. This is of course not what you want to hear as a bidder, because you want to get the best bargain. But it's only fair to the seller and the other bidders to give everyone a chance to continue to bid until the item is sold.

Obviously an auction will never go on forever, at some point the other bidders are going to say "it's not worth paying that!"

It is more analogous to a real-life auction, where the auctioneer decides when to close the auction, he doesn't stop at a fixed time if the bids are flowing thick and fast. To do so (as ebay does) is a disservice to the seller.

Jolyon]]> Jolyon & Katya Ralph Mindat Auctions Fri, 17 Dec 2010 00:12:53 +0000 http://www.mindat.org/forum.php?read,102,170245,206341#msg-206341 Re: time limits http://www.mindat.org/forum.php?read,102,170245,206341#msg-206341
i inadvertantly nearly missed the bidding, as i was waiting for a response from the seller, and entered a bid with five minutes remaining in the auction.. i was taken aback when there were two and a half hours left after that.. it was kind of twilight zoneish to say the least..

why isnt there some kind of warning system inplace that the auction has been extended and potential winners have been out bid.. if you can get the computer to restart the time then you can have the computer send bidders an email..

while the alloted segment of time is randomly generated by a computer, it would seem that an auction could be extended indefinitely.. when you think about it, this would invite corrupt business practices..

while i am not sure about the precise definition of the word,"auction", if it could be extended forever, when does it fail to be an auction??

i feel better now.. im going to check the status of my pseudo-auction bid..]]> jeffery barber Mindat Auctions Thu, 16 Dec 2010 23:35:34 +0000 http://www.mindat.org/forum.php?read,102,170245,170406#msg-170406 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170406#msg-170406 Bill]]> Bill Lechner Mindat Auctions Fri, 29 Jan 2010 21:06:02 +0000 http://www.mindat.org/forum.php?read,102,170245,170320#msg-170320 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170320#msg-170320 David Von Bargen Mindat Auctions Fri, 29 Jan 2010 11:17:07 +0000 http://www.mindat.org/forum.php?read,102,170245,170303#msg-170303 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170303#msg-170303 So how far in advance of the first cut-off time is it safe to bid without the seller extending the time limit ? How many advances are permitted ?
I would go along with a 10 minute extension, but 4 hours is ludicrous.
Bill]]> Bill Lechner Mindat Auctions Fri, 29 Jan 2010 03:58:07 +0000 http://www.mindat.org/forum.php?read,102,170245,170301#msg-170301 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170301#msg-170301 Matt Zukowski Mindat Auctions Fri, 29 Jan 2010 03:54:50 +0000 http://www.mindat.org/forum.php?read,102,170245,170288#msg-170288 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170288#msg-170288 Alfredo Petrov Mindat Auctions Fri, 29 Jan 2010 01:10:46 +0000 http://www.mindat.org/forum.php?read,102,170245,170280#msg-170280 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170280#msg-170280
Quote

Is there any such thing as "the last minute" then ?
Nope. No last minute. When a person makes a bid, the server randomly picks a time between one and four hours. This is added to the current time and if this is greater than the end time of the auction, that then becomes the new end time for the auction. So the bidding will remain open for one to four hours after the last bid is placed.]]> David Von Bargen Mindat Auctions Thu, 28 Jan 2010 23:43:29 +0000 http://www.mindat.org/forum.php?read,102,170245,170273#msg-170273 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170273#msg-170273 Scott Sadlocha Mindat Auctions Thu, 28 Jan 2010 23:02:29 +0000 http://www.mindat.org/forum.php?read,102,170245,170271#msg-170271 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170271#msg-170271 James Christopher Mindat Auctions Thu, 28 Jan 2010 22:52:02 +0000 http://www.mindat.org/forum.php?read,102,170245,170250#msg-170250 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170250#msg-170250 Bill]]> Bill Lechner Mindat Auctions Thu, 28 Jan 2010 20:14:53 +0000 http://www.mindat.org/forum.php?read,102,170245,170249#msg-170249 Re: time limits http://www.mindat.org/forum.php?read,102,170245,170249#msg-170249 David Von Bargen Mindat Auctions Thu, 28 Jan 2010 19:51:49 +0000 http://www.mindat.org/forum.php?read,102,170245,170245#msg-170245 time limits http://www.mindat.org/forum.php?read,102,170245,170245#msg-170245
I was bidding on item 143, the time on this item was listed as running out just after 2 PM my time. I then noticed that there are now over 3 hours of time left. Is it possible for the time limit to be extended ? What gives ?

Bill]]> Bill Lechner Mindat Auctions Thu, 28 Jan 2010 19:12:25 +0000