Auction End Times kept changing

[campbelmon]

Hello



I have been bidding on an action in the last 1/2 hour and the Auction End time kept changing. There were three of us bidding (I think) and I thought I won it as it originally ended at 12:00 then the next thing I know it is ending at 12:06, then 12:11, then 12:13. This can't be right. I have emails from Luxury Link with the various end times.



Mary

(sorry I originally posted this under LL Tips)

[kyshel]

which auction? There is one is supposed to end 2:30pm Pacific time. I am having trouble as well.
I am still waiting for ANY clues to the destination from last Thursday's auction.

ANYONE? HELLO?
Message Edited by kyshel on 04-09-200712:55 PM

Message Edited by kyshel on 04-09-200712:56 PM

[campbelmon]

It was the Grail Springs SpaAuction - 12 days. Original end time was 12:00 Pacific.

[omegaet]

campbelmon......


Q. Why do Single and Dutch auctions sometimes keep going after the posted closing time?

A.

Single and Dutch auctions are designed with an extending bidding condition to mimic the "real world" auction gavel process of "going, going, gone", and to provide as many bidders as may desire to participate in the final exciting phases of a popular auction, to do so. Therefore, a Single or Dutch auction will close at the posted closing time or five minutes after the last bid is received, whichever is later.

[claassenam]

Hello Camp,

This is standard procedure for LL auctions. Unlike ebay and some other auctions that have an official closing time, LL extends the time for 5 minutes or so if a bid comes in at the last minute. Perhaps to ensure that there is no "sniping" of the package at the very end. I'm sure that this benefits them as it really makes all the bidders decide "how high am I willing to pay?" more like a live auction, where people quit because the price is too high, not because the time has run out. This doesn't help the buyers' bottom line but I suppose it does give everyone a chance to purchase the package at the highest price they are willing to pay.



Message Edited by claassenam on 04-09-200701:13 PM

[claassenam]

O, you beat me to the punch!

[campbelmon]

Still new to LL. Thanks

[omegaet]

campbelmon wrote:

Still new to LL. Thanks

campbellmon...don't feel so bad, we thought LL was a "scam" because we got caught in the same situation on the first two auctions in which we participated. We finally called them to "read them the riot act".....after tolerating our rantings, theykindly directed us to the Q&A section for our enlightenment! We've had fun and bought some great deals since learning the rules! Good Luck and Good Bidding in the future!

[campbelmon]

Yes the first two auctions I bid on I won without any contest so this time I just didn't know what was going on. One day maybe this little quirk will work to my benefit.



M.

[funtimes]

Several auctions that we have bid on have "heated up" at the last minute - one trip to Italy lasted over a half hour with another auction participant. Fortunately we won! I found the action and heated bidding very exciting. I agree that this mimics a real time auction. It was difficult to stop - much like the obsessed gambler - I've seen the same property go less expensively later Well ...chalk it up to experience - now I know that properties are often repeated at a later date I will set a price in mind from now on so as not to get caught up in the frenzy Remember to refresh your page until you see the auction closed notification - Last Canada trip we won was bid upon in the last minute! Happy travels Best of luck in bidding ...Funtimes