Best way to start a PCF auction

AfterTheFact

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Hey all,

Looking for advice on how to run an auction since PCF doesn't have an auction feature.

Should I post an ad with a deadline and let everyone just bump it with their bids up to the deadline or ask for private offers up to the deadline without disclosing the highest bid?

I could allow everyone one bid per day and pm them the following day to say they are or are not the highest bidder and allow two final bids on closing day?

Am I making it too complicated?
 

links_slayer

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Should I post an ad with a deadline and let everyone just bump it with their bids up to the deadline or ask for private offers up to the deadline without disclosing the highest bid?

I've seen it done both ways around here. I've run a few using the first option and it worked fine. No need to limit the number of bids/member/day imo.
 

sleepypiggly

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How about start a listing with a starting bid, minimum bid increment, and a deadline. Then people bid on it openly with their posts up to the deadline.

* The only issue I see with this is if people go back and edit their posts? Honor system?
 

abby99

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* The only issue I see with this is if people go back and edit their posts? Honor system?

If every bidder quoted the previous bid, it would become obvious if somebody went back to edit their post. However, that wouldn't prevent a bidder from changing the quote and claiming that the previous bidder edited his/her bid. I would hope that nobody here would do that.

Still, it might be a good idea for the seller to multi-quote bids periodically, just in case.
 

BGinGA

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1. open-post bidding (no secrecy)
2. edited posts don't count, period

Specify an exact-minute ending (for snipers), or conversely, simply state that you will end the auction on day x between xx:xx and xx:xx (10-minute window). Anybody that misses the random cut-off is sol.

Track the high bid in the OP to the best of your ability.
 

Don Clay

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So what are those mysterious chips ?
I would say Maype Mabes ?
 

AfterTheFact

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Thanks everybody, sounds like simple is better. I'll set a deadline and end it then, edited posts are dead bids....Easy
 

atomiktoaster

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I'm surprised Slisk hasn't bid $5k yet... They are dead sexy chips. Way above my means though :(
 

BGinGA

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I don't think he's seen it yet. ;)
 

atomiktoaster

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Honestly, I think some anti-sniping rules should come into play. Top bid has to stand for 10 minutes to get the sale or something. These chips are too nice to change hands at less than full fair market value.

Just my opinion sitting on the outside thinking wishful thoughts.
 

BGinGA

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Honestly, I think some anti-sniping rules should come into play. Top bid has to stand for 10 minutes to get the sale or something. These chips are too nice to change hands at less than full fair market value.

Just my opinion sitting on the outside thinking wishful thoughts.

Not needed, really. Even if four bids/posts are submitted simultaneously in the last few seconds, the highest bid will win -- regardless if it's not the last one chronologically. People will be (or should be) submitting the maximum they are each willing to pay, relatively blindly (with only the highest previous bid --- made earlier -- as a reference point).

And for this reason, I suspect that AfterTheFact will drop the minimum bid increase provision for all last-second bids, or dictate that the winning bid will be rounded-up if necessary.
 

slisk250

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Too bad we can't all do a live conference call auction with a real auctioneer via facetime or skype!!! It would be funny, a bunch of chip nerds acting like the nutz at the Barrett Jackson car auctions in Scottsdale.
 

Psypher1000

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Too bad we can't all do a live conference call auction with a real auctioneer via facetime or skype!!! It would be funny, a bunch of chip nerds acting like the nutz at the Barrett Jackson car auctions in Scottsdale.

Who's to say you couldn't? Seems viable on the surface.
 

slisk250

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If every bidder quoted the previous bid, it would become obvious if somebody went back to edit their post. However, that wouldn't prevent a bidder from changing the quote and claiming that the previous bidder edited his/her bid. I would hope that nobody here would do that.

Still, it might be a good idea for the seller to multi-quote bids periodically, just in case.

One reason I really like this place is honesty. I just unpacked about 16000 chips and did not get screwed by anyone. I would be shocked if a person tried to angle shoot on an edit here. It seems stupid to risk your word. Plus there is no chance it would get past the losing bidders...or Dave! :)
 
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