What About Mystery Auctions?

[jsattapr2]

Maybe there needs to be a review of the whole Mystery Auction concept and process. For some time, bidders just wander into these auctions and start plowing away with absurd bids. Well, that's my opinion.

I guess Luxury Link does fine from a revenue standpoint with the strange bidding patterns and ultimately, that's why they are in business.

On the other hand, if Luxury Link were to cap each individual bid at $1.00 or maybe $5.00, then I feel the web site would actually benefit. Those of us who were interested would be forced to visit on a more frequent basis, if the numbers began to escalate and we were still a player.

As it stands right now, someone or maybe two individuals just come in and starting bombing away at large increments. I don't see too many regulars bothering to do more than look at the Mystery Auctions, possibly place a token bid, then watch others bomb away.

Just an opinion and a thought.

Anyone else have an idea or an opinion on the subject?

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These types of auctions always seem to lure folks in with the low price and then I find they always end up getting close to what the price would have been if it was on a regular auction - does not matter if it is LL, EBAY, etc. I have noticed they all seem to go this way. I usually never bid on these types of auctions unless I really want it and then I make sure I knwo what the deal is really worth

[kapper]

I've considered Mystery Auction bidding, but as you have pointed out, jsattapr2, over the past year or so, the huge incremental bidding by so many people really take the fun out of participation.

[thepiranha]

I don't think there's anything wrong with someone "plowing away with absurd bids," but it's strange to see an auction that's going up $1 or $2 at a time jump up by several hundred dollars. I was involved in the Northern Italy auction last week. The price of the package was going up very slowly until it hit $75, then someone bid $350 for it. Huh?

[Mountie]

Maybe there needs to be a review of the whole Mystery Auction concept and process. For some time, bidders just wander into these auctions and start plowing away with absurd bids. Well, that's my opinion.

I guess Luxury Link does fine from a revenue standpoint with the strange bidding patterns and ultimately, that's why they are in business.

On the other hand, if Luxury Link were to cap each individual bid at $1.00 or maybe $5.00, then I feel the web site would actually benefit. Those of us who were interested would be forced to visit on a more frequent basis, if the numbers began to escalate and we were still a player.

As it stands right now, someone or maybe two individuals just come in and starting bombing away at large increments. I don't see too many regulars bothering to do more than look at the Mystery Auctions, possibly place a token bid, then watch others bomb away.

Just an opinion and a thought.

Anyone else have an idea or an opinion on the subject?

j-s-2, think back over the past few years, I have purchased two mystery auctions. Both of the destinations were somewhat off the beaten path and really didn't generate much in the way of competitive bidding.

I still look at mystery auctions, but I haven't place a bid in a while.

Maybe it is time for Luxury Link to either consider another approach. I won't lose any sleep one way or the other.

If Luxury Link is pleased with the result from the present system, then I guess it works for me.

Price not right - I don't bid!

[LL_Travelfan]

I always felt since on a Mystery Auction you (supposedly) don't know where the property is located, you ought to be able to get a great deal on such a Mystery Auction. Certainly, a deal for less than you can buy the property on Auction for. Many times, I have seen a property sell for more than you can actually buy it on Auction or on Buy Now.
This thinking of getting a good deal stands to reason since it is a Dollar Auction. There is nothing to be gained to bid in $100 or $200 bid increments right at the beginning. The real bidding to win a Mystery Auction occurs at the very end at closing time. If someone is really interested in this Mystery property, then at closing time is the time to bid $100 or $200 to win the Mystery Auction. Anything more than $1 in the beginning IMO is only unnecessarily driving up the price. Especially, if the high bidder is not following through with his intention of winning the bid in the end.
Of course, as pointed out by some of the contributors, you can do with your money as you please. I for myself do my homework, know where the property is located, know for how much it sells on Auction, and if I think this Mystery Auction might work for me, and I can get it for 30% less than on Auction, I bid at the very end. Beyond that, I will drop my bidding.
That is my view, and my two cents worth on Mystery Auctions. Of course, you do as you please!