Question for Auction Shoppers
5 years ago
Hey, I've thought about this to some extent but I feel it's best to directly ask what people prefer.
If you've participated in auctions, what do you think is better: timed auctions that have a strict cutoff, or auctions that have small (5 minute etc.) snipe extensions?
I feel like timed auctions are more price-friendly to the purchaser and in a sense give opportunities to more people (if auction camping strategies are employed lol), but of course it can be out of the favor of people who would prefer to spend more on it to secure the item. Please share your experiences with both types :V
If you've participated in auctions, what do you think is better: timed auctions that have a strict cutoff, or auctions that have small (5 minute etc.) snipe extensions?
I feel like timed auctions are more price-friendly to the purchaser and in a sense give opportunities to more people (if auction camping strategies are employed lol), but of course it can be out of the favor of people who would prefer to spend more on it to secure the item. Please share your experiences with both types :V
Sniping sucks XP, plus it can mean the bid goes higher for you.
Thanks for the input!
"The auction ends at 6:00 PM or 5 minutes after the last bid, whichever comes last."
So starting at 5:55 PM, every bid resets the end time to be 5 minutes after it. The upside is those who want to camp and snipe can do so, but others will have a reasonable amount of time to respond. An auction will never be decided by typing or internet speed in this way.
The downside is the auction can (in theory) end up going for much longer than its originally set deadline this way if people just keep bidding. However, the longer it goes the more money the artist makes, and people will hit the limits of their wallets eventually so it's not too big a problem, ha ha. Setting an autobuy amount also effectively limits how long post-deadline bidding could continue for.