#806719
Tue Aug 06 2024 08:36 PM
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Joined: Jun 2018
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My auction company is putting on a gas and oil advertising auction currently. It is an online only auction, we will ship all over the country if the item is reasonably sized.
heres the link to bid
Newtownauctions.hibid.com
Thanks!
Austin
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Joined: Sep 2007
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RANDY
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Joined: Jul 2002
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FYI, this is a 'Soft Close' auction.
I personally refuse to participate in these type of auctions.
Jim
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Joined: Oct 2008
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I hate soft close auctions
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Joined: Dec 2006
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Educate me,what is a "soft close auction"?
Thank you.
Frank Jordan
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1 member likes this:
advertologist |
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Jim "Oldgas" Potts
Your host and moderator
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Imagine attending an auction.
Bidding on an item - and winning the item when it closes.
Then having to wait a set amount of time to see if anybody wants to outbid you. (After you already won the item.)
And if they do, having the item's auction extended again and again as long as someone bids within the extension time.
Imagine the auction for the item you won going on for an hour or more - and then either having to pay more for an item you 'won' - or lose it to someone else.
That's a 'Soft Close' auction.
IMHO, its a massive money grab by the Auction House and/or the seller.
And I refuse to participate.
Jim
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Joined: Sep 2007
Posts: 21,834 Likes: 1603
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collectors auction in Pennsylvania started using this practice years ago and when they did I was done, don't believe they lasted much longer - no way to run a auction .. ... 
RANDY
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Joined: Dec 2019
Posts: 158 Likes: 24
Petro Enthusiast
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Good explanation - and no thanks to support the greed!
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Joined: Jun 2018
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OP
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Sorry you guys don't like soft close auctions. It appears you don't really understand what they are though. It only adds time IF you place a bid before the item ends. If the items time reaches zero there is no more bidding, you simply won the item. This is to prevent sniping like ebay auctions, it gives people more time to decide if they want to bid again. Almost ALL online auctions are this way. i bid in 100s of auctions every week, i cant think of one that doesn't have soft close. This has nothing to to do with my greed...
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Joined: Nov 2007
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It's greed. Don't lie to yourself.
Sell me your Gilmore Oil Co. stuff...
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Joined: Jul 2002
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I get notifications from around 70 auctions a week via email. From all across North America.
About 10% of them are Soft Close.
So no, not 'amost' All Auctions are Soft Close.
And if you want to place your maximum bid hours or days before the auction ends online - and somebody snipes/bids at the end (live) - if your bid is higher, you win. If there's is, they win.
No different than sitting in a live auction with internet bidding.
THAT'S HOW AN AUCTION IS SUPPOSED TO WORK!
Not extending the auction out hoping a losing bidder will pony up more money.
They had their chance.
A Soft Close auction is just a huge greedy money grab.
Jim
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Joined: Jun 2018
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I am definitely not lying to myself. I could easily be making way more money doing something else. The auction business is not all sunshine and rainbows like everyone thinks it is. We can agree to disagree on the topic. You guys clearly dont like soft close and thats fine.
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Joined: May 2003
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It's undeniable...the traffic on this site has decreased over the years. When someone takes the time to let us know about items being brought to market they basically get bashed and accused of being greedy. That's a great approach to keep the website going and growing.
Austin, I don't know you...but let me take the time to thank you for letting us know about your auction. There just may be an item someone here has been looking for and won't mind your auction format at all.
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4 members like this:
Jarvis, Speedracer, ncgasguy, Oldgas |
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Joined: Aug 2014
Posts: 140 Likes: 7
Petro Enthusiast
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Petro Enthusiast
Joined: Aug 2014
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I can understand why some folks don't like soft-close auctions, but I actually don't mind them, and I've gotten some great deals over the years. Here's a few "pros" as a buyer, from my point-of-view:
1. There's only one on-line platform, which avoids confusion and delays. More than once I thought I had won an item, only to be told that someone bidding on another site had won.
2. There's no actual live bidders, which kind of levels the playing field, so to speak.
3. I know exactly what time the item is closing, and usually the auction site has options to send me alerts 15-20 minutes prior to the closing.
Overall, I still prefer attending live auctions when possible. Unfortunately, here in New England, there have been very few quality advertising auctions over the last few years.
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