I think that statement by FH about online bids is misleading. I’m not sure if it is 100% accurate.
I listened to quite a bit of the March auction, especially lots that I bid on via the on line auction. Never once did I hear a tie bid.
It seemed to me that the opening bid was the high bid from the on line auction. And the bidding went there there.
Example - The on line bidder bid $6.00. That is where the auction room bidding started. If some one in the auction room wanted to bid, they would have to bid $6.50. If no one in the room bids, the on line bidder buys it for $6.00
The only down side is that the buyers in the room were able to figure out that the opening bid was online and all they had to do is bid the next bid and they would win because the on line bidder couldn’t bid again.
I lost any number of lots by 50 cents. But that’s life.
Gotta be better way so that on line, and in person bidding, are integrated and can bid against each other in real time. Having said that I know nil about auctions but to my poor understanding the auction is potentially leaving money on the table. Where the auction works on a commission basis seems both the auction and the shipper loose without real time bidding between remote and auction room buyers. The benefit is to the buyer. Maybe it cost too much to do that and the losses outweigh the benefits. Again I don't know and would like to have it explained.
Wissmiss said she lost any number of lots by .50 cents. More money than that on the line as no telling how high she, or the auction room buyers, would have went if they could real time bid against each other.
Tell me what I am missing here.
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