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Improving Mindat.orgAuction Error
11th Jan 2018 03:11 UTCJake Harper Expert
11th Jan 2018 04:32 UTCErin Delventhal Manager
The timing of the auction was set back because of a bid close to the time of closing.
See here:
https://www.mindat.org/forum.php?read,6,428459,428544#msg-428544
"There is a bid buffer which extends the auction briefly if there are last-minute bids to deter last-second sniping.
This is much closer to the traditional auction model of an auctioneer waiting until there are no more bids before closing the auction and is fairer to everyone who wishes to bid."
11th Jan 2018 05:44 UTCJake Harper Expert
11th Jan 2018 06:32 UTCJake Harper Expert
11th Jan 2018 06:37 UTCErin Delventhal Manager
11th Jan 2018 08:33 UTCDon Windeler
I just happened to bash that amethyst out a few more hours further, as i saw it was still open even though I missed the main auction close -- I just thought there were a few pieces that had a later closing time but hadn't read this thread. Still will be happy if I end up with it, though I won't know for quite a while.
D.
11th Jan 2018 11:16 UTCPaul De Bondt Manager
11th Jan 2018 12:14 UTCOwen Lewis
11th Jan 2018 13:10 UTCJolyon Ralph Founder
In future there will be a much shorter increment of time (between 15 and 45 minutes.)
11th Jan 2018 13:12 UTCJolyon Ralph Founder
Thank you to everyone who took part!
Those items that have not been sold will be relisted as part of a future auction.
Jolyon
12th Jan 2018 02:31 UTCDoug Daniels
Other auctions have a stated date and time for closing. I always assumed those were hard and fast rules, but I've seen the closing time drift a bit on some auctions.
Yes, this is an international forum, so may have bidders from who-knows-where. Really, each of us has to to pay attention to when the auction will close, relative to your time zone. We can't have whoever is running the auction decide to extend the close time to avoid the "mad rush". If you really want that specimen, guess you have to be available near the close time.
And as far as when the bidding time gets close to ending - there have been several auctions where I wanted to up the bid, but unfortunately I was working at the time. So, I lost. Life happens. I'm still here (to the consternation of many...).
Anywho, hope it was a good auction for Mindat.
12th Jan 2018 05:39 UTCJake Harper Expert
If a closing time is shown, well, that closing time ought to be honored.
Surely, this is not an unreasonable expectation.
Those who are bidding know what time an auction ends and those who are swiftest with the most foresight will win. The “mad rush” is actually the most exciting and enjoyable aspect of any auction. And, if you lose, the disappointment following will pale in comparison to seeing more time added to the auction after you thought you had won.
It might well benefit the seller to tack on more hours to the auction if there is a heated bidding war at the end — but perhaps not. I know that I lost interest quite quickly.
12th Jan 2018 09:07 UTCJolyon Ralph Founder
12th Jan 2018 12:23 UTCJohn Collins
John
12th Jan 2018 18:18 UTCRonald J. Pellar Expert
12th Jan 2018 18:28 UTCAndrew Debnam 🌟
Agreed Ronald, Doug, John and Jake. I would prefer a more fixed deadline. If pricing is a concern perhaps an opening bid level as many auction houses do have that policy.
12th Jan 2018 19:01 UTCRonald J. Pellar Expert
The term "sniping" has a bad name that is undeserved. It was invented for auctions that allow a maximum bid to be input which encourages the bidder who likes to up the bid by a single increment over the last bid until he exceeds the previous bidder's maximum bid to try to get it as cheap as possible. If you want to eliminate sniping get rid of the maximum bid altogether, i.e., make a bid count at face value. If you did this, I feel that you would really reduce the number of bidders drastically and your revenue as well.
12th Jan 2018 19:29 UTCPeter Andresen Expert
12th Jan 2018 19:55 UTCAndrew Debnam 🌟
12th Jan 2018 22:02 UTCPeter Andresen Expert
How uncivil of me, you have all reasons to make a complaint, Andrew! My donations are pure egoistic to keep mindat online, and not to make others restricted to feel one way or the other. Neither do I want people to stop complainig, if that is the feedback they want to give. Personaly I complaint a lot, and I think it's my civil right. Not so much on mindat, because too often what is said on forums here are interpreted in worst way. So there was my complaint. When did it become wrong to complain about things?
Sorry to be sarcastic, but as a norwegian i only know one english word for a shovel; shovel...
Keep donating to mindat!
13th Jan 2018 19:15 UTCRonald J. Pellar Expert
On internet auctions an item is available for bidding for many days whereas live auctions the item is available for bidding for a few minutes, all bids are "face value" bids, and the auction ends after a reasonable pause in bidding. The extended bidding time on online auctions is to provide international participation without any time zone considerations, particularly with the added capability for a "maximum" bid wherein the auction software automatically increments a current bid to a minimum increment above the previous bidders maximum bid, i.e., automatic sniping. The use of third party snipe software to place a maximum bid in at the last minute, or less, is to get around the bidder entering his won bids at last minute with minimum increments and cannot react in time to a new bid for the close of the bidding. When an online auction automatically extends the closing bid time, they only eliminate the effectiveness or the third party snipe software, but their own "snipe" software, i.e., maximum bid mechanism, is still in place and reacts in less than a millisecond.
In my opinion, the effectiveness of extending the closing time to increase revenue is minimal due to the "maximum" bid function available for the full duration of the time that the item is up for bidding. The annoyance factor of having an unknown closing time defeats the purpose that feature is intended to achieve by eliminating some potential bidders. I really thing that Mindat should carefully revisit this issue.
13th Jan 2018 21:16 UTCKyle Bayliff
So far here are some points that might be helpful (some of mine and some from discussion):
Reduce buffer time added after a last-minute bid (minimizes bidder attrition, increases competition)
List the reserve prices up front for each item (avoid no-sale lots)
List minimum increment for bid increase
Mix of single-item and multi-item lots to generate increased interest (this will depend on donors)
On a different note, when will the next auction be? I was interested in some of the items that did not make the reserve price. Are the fundraising auctions only conducted once a year?
29th Oct 2018 11:58 UTCDavid Von Bargen Manager
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Copyright © mindat.org and the Hudson Institute of Mineralogy 1993-2024, except where stated. Most political location boundaries are © OpenStreetMap contributors. Mindat.org relies on the contributions of thousands of members and supporters. Founded in 2000 by Jolyon Ralph.
Privacy Policy - Terms & Conditions - Contact Us / DMCA issues - Report a bug/vulnerability Current server date and time: April 23, 2024 16:23:44