This auction is killing me!

[sc1101]

I thought the ten minute extension was per item not the whole auction. The clock doesn't count down to nine before it resets. This could take days to end. I don't think my heart can take it.  I know your all thinking the same thing!

[pinballdude]

?? Link? Pics??

[sc1101]

The Iron Horse Auction the guys were talking about last week.

[sc1101]

If only people would stop bidding one dollar at a time. 

[Pixel]

So let me get this straight, a bid on a single item extends the ENTIRE AUCTION by 10 minutes?

This has to be the dumbest auction format ever. Unless somebody thought these constant extensions could somehow squeeze out more bids on some of the items, in which case it might just be brilliant. 

Trivia - The first item sold on eBay in 1995. It was a broken laser pointer that sold for $14.83. It's been all downhill ever since.

[tkaz]

Wow, it the first auction finally ended, so anyone get anything?

[MaineT]

So let me get this straight, a bid on a single item extends the ENTIRE AUCTION by 10 minutes?

This has to be the dumbest auction format ever. Unless somebody thought these constant extensions could somehow squeeze out more bids on some of the items, in which case it might just be brilliant. 

Trivia - The first item sold on eBay in 1995. It was a broken laser pointer that sold for $14.83. It's been all downhill ever since.

eBay isn't an auction. At auction you can't time your bid at the end. Auctions are over when there are no further offers. This format rocks if your a seller and is fair for bidders to be able to make their offers without timing them.

[sc1101]

I agree it makes sense for both seller and buyer. That way the seller gets top dollar and the buyer doesn't get snipped in the last second. It makes it like a real auction. I must say that I was very aggravated while I waited 4 1/2 hours for it to close though. What they should do is have the same 10 minute extension but on each individual item. The way it was set up was if anyone bid on any item in the auction the whole auction would extend ten minutes. The whole auction should not be help up from closing because some idiot keeps bidding one dollar at a time. Make each item close individually after ten minutes of no bidding. I waited 4 1/2 hours for the auction to close on an item that had no more bids after a half hour. That would be the best way to do these. Just my input.

[cola62]

I agree that would make more sense.

[sc1101]

It was worth the wait in the end. I think I got a great deal. I know it doesn't look like anything special but it is. This is a very rare neon sign. The Schmidt museum was the only place I know that had one of these. They had one in great original condition. They sold it at auction and it brought in $15,000. The buyer paid over $18,000 for the same sign once the buyer premium was added. Given it's in much better condition then mine I still find the one I bought a bargain.   I plan on having it restored to it's original beauty. I posted a picture of both below with link to Shmidt auction.

http://www.liveauctioneers.com/item/9686271