A extended bidding if bids recieved last few minutes type bidding would greatly benifit seller&buyer
I have noticed auctions that have moved to extended bidding formats have greatly increased prices on items. I have paid a lot more as a wholesaler however in general all auction companies are gravitating towards that style of auction. I really think if ebay made that option ... eventually no one would use hard close options anymore. Bid sniping is not very effective with the hard close option. Some buyers may not like it because they need to pay more. However some buyers dont like how ebay auctions just end without an opportunity to keep bidding. ALL sellers will like soft close. Seems like a fool proof way for ebay to increase margins A LOT without soaking sellers. If sellers cannot make profits eventually ebay will lose sellers and sales to other platforms or just stopping business all togeather. Ebays keeps thinking of ways to make sellers pay more percentage of their sales in promotions and fees to ebay for selling which I know is costing them sales and driving some of their sellers out of business. I wish ebay would make it easier on sellers by adding features that make sellers able to list more inventory exponentially faster. More listing tools and more shipping tools. They make massive revamps to how things are listed without enough research. Ebay should truly try and list some of their own products .... or a very large assortment of products like the average joe at home ebay store does and they will quickly start realizing what they need to do. Its obvious they dont really do it like most ebay sellers. Ebay still has a classic niche in dealing with sellers who want to sell single listing type items, some on large scale. there is not too much competition they should capitalize on that before someone else does. There are many ways ebay can increase its bottem line with its resources without soaking their actual customer which is those that sell on ebay... not as much the people that are buying. It is the sellers they need to cater to just as much as buyers or they will lose the ultimate source of their revenue.
pete5454
·2 years agohttps://www.ebay.com/bfl/viewbids/296408709880?item=296408709880
pete5454
·2 years agoAnd the sale went on for about 2/ 3 mins after auction end - giving me a chance to re-bid. I had set my budget so I did not but another 2 late bids had come in & the sale was left hanging so to speak to allow us to re-bid. Regardless of what the bidding clock says. I checked timings at the time so I ma pretty sure this is what happened -& will happen if more than one bidder comes in late - Peter
eburtonlab
·2 years agoAnd the sale went on for about 2/ 3 mins after auction end
It may have appeared that way to you based on the countdown on your computer, but there were no bids after the end of the auction shown in that bid history.
It is most likely that your computer's clock is off by about forty seconds, and that had you tried to actually bid in the time after your countdown reached zero the first time, you would not actually have been able to submit a bid.
Check to see if your computer's clock is ahead or behind at the top of this page:
https://time.is/
If your time is off by more than a second or so, you may want to synchronize your clock to an internet time server to avoid problems bidding at the end of an auction. If you are using Windows, try right clicking on the time in your task bar, select "Adjust date/time", make sure the time zone is correct and then select "set time automatically" at the top. Then check your time using the link above once more to note the difference.
a_c_green
·2 years agoSorry, but no, there was no extension of time at all. The listing began at 1:39:29pm Pacific time on May 3, and ended exactly 7 days later at 1:39:29pm PDT.
When the auction is close to ending, a live countdown timer appears on the listing page. This countdown is not being generated directly from eBay. Instead, code is provided that compares your own computer's time setting with the listed end time of the auction, and gives you a countdown ticker of minutes and seconds remaining (i.e. the difference between your computer's current time setting and the upcoming endpoint of the auction).
The bid history shows that your latest bid went in at 1:37:51, about 98 seconds from the end of the auction. If your computer time was exactly right, you should have seen a minute and 38 seconds remaining. However, if your computer clock was 90 seconds fast, for example, it would have shown you a countdown timer of 8 seconds to zero. You got your bid in just fine, but there was actually another 90 seconds left in the auction, which was long enough for two other bidders to get in and push the price higher.
pcobra93
·2 years agoSoft close auctions are the scourge of the industry.... They are a contributor to the decline and downfall of Ebay auctions.....anyone that has participated in one would have to agree. I know people that run these and I can tell you first hand that they are NOT on the up-and-up....beware of these auctions as there is a lot of games being played to run prices up.
simba6
·2 years agoBack when eBay started many other on line auction companies started up. All the big search engines too ran auctions. Many of them offered such an option. It did not work and today they have all gone away.
Your bidding all wrong. Your bidding as in an outcry auction. You need to bid as in a sealed bid auction.
bashort
·2 years agoAnother thing that ebay could do to make things sell higher is let the seller see the buyers max bid, that is exactly what the online auctions do.
lux.ra_14
·2 years agoI buy from an auction house with timed closings. New bids extend each auction by three minutes. If no one else bids for another three minutes, the auction ends.
I like the format as a buyer BUT only because it seems to depress prices. Most people at the end only bid the next increment - say $1 at a time - to try to keep the price as low as possible. I've ended up winning items for a pittance.
stillmanwi
OP2 years agoI dont understand how that would be the case. I dont see how soft close would EVER make a price lower. With ebays current format it just closes. No higher price no additional bidder to worry about. The price is the price at that particular moment and no one has a chance to put a competing bid in. So if thats the case with soft close a bidder that just wants to put in a highest bid before the auction ends could do so just like in the current eBay format and if no one is willing to bid you win. However, if you get out bid last second it gives you the chance to continue bidding which means the price can only go up never down. The point for eBay and for sellers is to get the highest price. I can understand how a buyer would get annoyed at having to pay a higher price however from a sellers standpoint and ebays its positive its all the better which is my argument.
go-bad-chicken
·2 years ago@stillmanwi
I bid in many of these kinds of auctions as well. Just participated in one last week. It had 600 lots in it. I was I interested in various lots throughout. Each lot closed in 2 minute increments unless another bid was received in which case the end time was extended another 2 minutes. By the time the auction got to lot 100 I had 35 separate windows open trying to rebid on extended listings while at the same time trying to be ready for the next lot coming up. I was switching from one window to the next like a schizophrenic chicken, and by the time the auction got to lot 300, 10 hours later I was exhausted and over that **bleep**, no matter how good the swag was.
eBay let's me snipe from 4 days out and gives me the opportunity to win even while I'm asleep.
stillmanwi
OP2 years agoThe reason your getting frustrated is not because you are unable to put in one bid at the last second and get the item. I bet the reason your getting frustrated with soft close is because the bids your putting in are constantly beat and your having to continue watching. Hence meaning the item is realizing a higher price. Where as on ebay it would have ended and you would have been done. With soft close those items keep going up in price so you need to keep watching because as people see prices going up they are willing to continue paying more. There in lies my argument that there are no downsides to sellers with soft close. . Ebay is a different format than an auction house as well. Ebay isn't selling one batch of inventory all at the same time. Ebay is a 24/7 marketplace where people can pick an choose when they want to bid and how many items they want to bid on. Ebay is focused on retail buyers not wholesale buyers. That is why they offer return policies, and buyer protections on quality that most auction houses do not. What ebay offers the buyer would make soft close more attractive in my opinion. Soft close is not a freind to bulk buyers looking to get low prices on batches of inventory. Soft close in good for sellers because it insures a chance for retail buyers to feel comfortible paying more and letting the market value play out to the highest willing bidder instead of the fastest mouse clicker. Adding it as an option would have no down side. That way if you dont want soft close you dont have to select it. With high-value items and rare items soft close will be the only way to go. Ebay will explode with revenue compared to what they are doing now. If you are trying to bid on 10 items at a time it would be frustrating to do soft close. But if your always bidding on 10 items at a time your not a retail buyer paying top dollar. Benfits of soft close benifit sellers because it allows retail buyers who are focused on a particular item, and who are willing to pay a higher price time to realize that price and get comfortible knowing there is a market at that price as bids are placed. I would argue that ebays marketplace would actually work better for soft close than these auction houses. If its an option then there is no worry to those people who are afraid of soft close. Buyers may not like the higher prices though but the will get used to it. Or the buyers will just need to set up their ebay searches not to allow soft close auctions in their results. However over time if ebay offered the option of soft close their current auction format probably would not exist anymore.
downunder-61
·2 years agoI can't believe this dead horse is still being flogged, surely he's done by now.
soh.maryl
·2 years agoThought that dead horse had already been carted off to the glue factory.
stillmanwi
OP2 years agoI think ebay may be stuck in the glue factory of lower prices and revenue by not offering soft close auctions where bidding is open for seven days but if someone bids in the last 5 minutes of the auction (or 10) it extends the bidding for a few minutes
pete5454
·2 years agoAgree - think we have this now May 2024
I replied to a similar post within 24 hours it was ended as old - with the same observation - surprise - surprise.
It's in eBay's inteterest to have an algorithm to extend the time when a few late bids come in. I had a similar experience. My computer clock is correct. Bid 8 seconds before end of auction. Two other bidders came on at the same time. or later - eBay extended bidding opportunity for nearly 3 mins past auction end time. I was offered the opportunity to bid - but refused as I had set my budget. This naturally maxs profits for eBay and the seller to be fair. But my view is when the auction hammer goes down due to time that should be it ! Shame o you eBay ! Come clean ! I wait this post to b e ended ?
eburtonlab
·2 years agoeBay extended bidding opportunity for nearly 3 mins past auction end time.
What is the item number?
lacemaker3
·2 years ago@pete5454
As you have been told multiple times, you need to start your own thread and give us the item number you are complaining about, so we can see what happened with it for ourselves.
Stop disrupting the boards by bumping old threads.
pete5454
·2 years agoHi
Not sure what bumping old threads mean - new to posting. Just had some viewpoint to add not so much a complaint as an observation - maybe eBays response to Bidnapper & the like ? Peter. ps - which I do not use as an auction is an auction to my way of thinking - with a few rules - rules we all should know - so when the hammer goes down its a sale - not some 'soft' extended unknown time limit that seems to prevail now - but I could be wrong as eBay the algorithms is an unknown.
a_c_green
·2 years ago@pete5454 : You were "offered the opportunity to bid" and eBay extended the bidding deadline by 3 minutes? That's not how auctions work on eBay. Please post the auction number so that we can see the Bid History.
pete5454
·2 years agoeBay item number
296408709880
Ye of little faith - Peter
dbfolks166mt
·2 years agoeBay item number
296408709880
I cannot find this item number. How about a link?
eburtonlab
·2 years agoAccording to the bid history page here:
https://www.ebay.com/bfl/viewbids/296408709880?item=296408709880&rt=nc
That auction started on 3 May 2024 at 1:39:29pm PDT and ended seven days later.
The last bid was place on 10 May 2024 at 1:39:20pm PDT, nine seconds before the auction ended.
stillmanwi
OP2 years agoI don't think your interest is in getting the highest dollar. Soft Close will.
chapeau-noir
·2 years agoI suspect most of these auction houses with soft closes aren't open 24 hours a day in multiple national and international time zones. The logistics alone would be complicated.
ne*1*huskers
·2 years agoWay back in the beginning there were sites with open ending. I believe yahoo was one. They had so many issues including sports bidders who would keep bidding to try and see how long they could keep auctions open and then not pay. I believe some went on for a couple of days. They are not around any more.
janet9988
·2 years agoAs a buyer I could be sitting by my computer for days...I would not like that . Lack of sleep.
As a seller I could never plan a vacation if the bidding never ended on time.
In the end it is the HIGHEST bid who would be the the winner. Extended bidding or or not.
I like knowing the end time.
gone.c-33
·2 years agoI rarely participate in auctions anymore, but when I do, I snipe. Without a fixed end time, I can’t snipe. If I can’t snipe I won’t bid.
How does that help sellers?
soh.maryl
·2 years agoWhat "own products" does eBay have to list other than boxes?
Also, each eBay listing has a specific end time that's shown to potential buyers. Anyone familiar with eBay knows this. The end time is not a secret. Experienced buyers and sellers explain to bidders that they should make one bid, bid the most they would pay as close to the end of the auction as they feel comfortable.
If they did not win, someone else valued it more than they did.
Another point, the percentage of eBay listings that are auctions has decreased a lot over the years. About the only thing that makes sense as an auction is some rare vintage item that appeals to collectors. A high percentage of the merchandise listed for sale here is NOT in that category.
bashort
·2 years agoI used to buy a lot from ebay auctions to resell and I still buy some but I can tell you that I have 0 interest in bidding on a soft close ebay auction.
eburtonlab
·2 years agoSome light reading for folks interested in bid extensions and the various arguments pro and con:
https://community.ebay.com/t5/Selling/AUCTION-EXTENSIONS-FOR-BUYERS/m-p/29248518
a_c_green
·2 years agoMy contribution, in one of the other eight-zillion threads on this topic ðŸ˜:
https://community.ebay.com/t5/Selling/Extend-the-auction-by-three-minutes-when-a-bid-is-placed-with-in/m-p/27697231#M1079395
stainlessenginecovers
·2 years agoMaybe I'm just ebay spoiled, but I see NO REASON to EVER do this. An auction is running, I see it on Day 3, with 4 days to go. If I'm a serious buyer and not a typical game player, I'm watching the auction and bidding accordingly.
I've seen MANY other 'auctions' that do NOT do this 'soft type' ending. It ends at a certain time/date- so why is that so hard?
bashort
·2 years agoOne big difference between those online auctions with soft close and ebay is that unlike ebay they actually expect you to pay if you are the winner.
The ebay sport bidders would love ebay soft close, they could sport bid against other sport bidders indefinitely
stillmanwi
OP2 years agoThey have a prepay as requirement on submit offers now ... may not be a bad idea here
stillmanwi
OP2 years agoWell they can try and not pay in any auction format... however I do think ebay should add more protections against non paying bidders and suspend accounts of (sport) bidders
gone.c-33
·2 years agoThis has been suggested thousands of times in the last 20 years and it has been explained as many times why it isn’t appropriate for eBay auctions.
I’ll let you use the search function if you want to learn why.
stillmanwi
OP2 years agoThere are many auction platforms with search functions that are not affected by soft close. The difference here is the act of consignment is not required. Really shouldn't affect a thing except it will stop screwing sellers, it will stop ebay from screwing themselves and last but not least it will stop screwing buyers who are willing to pay a lot more however think they are getting a deal and then get sniped. Ebay historically is a retail auction marketplace on many items. However the last couple years local auctions with smaller crowds are mostly all switching to soft close and in many ways are getting a lot more value out of their items than ebay. I have bought on ebay to resell and taken advantage of this when it happens due to the way bidding works. I have always believed for the most part the more exposure you have to buyers the higher the prices will be. The hard close pretty much stops that. Nobody walks into an auction wanting to start the price at what they are willing to pay. Thus people dont have the opportunity to try and feel like they are getting a deal or an opportunity to bid. I have personally been willing to pay multiple thousands more for an item on ebay however just didnt because I thought I was going to win an item. The item then sold for far less then what I was willing to pay. In general, logically and theoretically ebay has the ability to get more eyes on items across a larger area on larger scale then any local auction company. This means logically they should get more money on average for auctions however many times they do not simply because of not evolving the way their auctions close. If they did you would see ebay getting the most value out of auction sales and local auctions would become more wholesale again essentially because of audience disadvantage. EBAY is missing HUGE by not having soft close. Pros heavily outweigh the cons ... they could offer it as an option they would find that their old way of bidding would no longer be viable. Its a big net positive
kensgiftshop
·2 years agoIf buyers are willing to pay more, why don't they bid what they are willing to pay the first time?
pete5454
·2 years agoHi - Seller wants to max a profit or return Buyer wants a bargain - hence the soft close when bidders come late to the party helps e-Bay & seller - don't mind as long as we know, Peter
fashunu4eeuh
·2 years ago@stillmanwi wrote:
“…have personally been willing to pay multiple thousands more for an item on ebay however just didnt because I thought I was going to win an item. The item then sold for far less then what I was willing to pay…â€
On eBay, a different strategy is required to maximize your chances. Why are you not placing a maximum bid for what you are willing to spend? Then the proxy (automatic) bidding takes over, bidding in increments for you until your bid surpasses others and you win, or until your dollar limit is reached but others continue to outbid, and you lose.
stillmanwi
OP2 years agoThere is no point to immediately bidding the maximum on an item in auction format....Feeling like your not overpaying while achiving the highest price possble for the seller is the entire point to an auction! The prospect of a deal and getting an item for as low a cost as possible and knowing others are willing to bid what you are. Soft close also entices those to sometimes spend more then they are willing to or were prepared to. I have done it many times. All the big auction houses are moving to online soft format for a reason. I feel eBay is being slow to evolve with this. At one time the horse and buggy was the way to get around and then automobiles became widely available. There is proof in the pudding that soft close on online auctions gets more value out of items and not just by a little either. I literally go to auctions every day, I have attended thousands of live auctions. I buy and sell and there is no doubt that the soft close auction formats get higher prices on average.
soh.maryl
·2 years agoYou were willing to bid more, but you thought you were going to win?
If you actually were willing to bid more, why didn't you?
Can't understand the logic there.
Again, every single potential bidder is told how long the auction will last. Every one of them has exactly the same opportunity to bid.
Soft close auctions could go on forever due to sport bidders having fun just trying to see how long they can drag it out. There would be a contest to see if an auction could go on for weeks.
stillmanwi
OP2 years agoMakes no sense how soft close changes anything outside of pushing bids higher.. The entire point of an auction is to make the buyer feel they are not overpaying while a seller feels like they have achieved the highest value buyers were willing to pay at that time. Soft close would literally change nothing other than open the opportunity for someone to outbid the current highest bidder. People wait until the last minute to bid at auctions for this reason. The vast majority of bids at auctions come at the last minute because live bidding makes people feel comfortable with the price they are paying. Extending that live bidding period until people are not willing to pay more will only push prices up.