Soft-endings or Extended Bidding on auctions!
We recently discovered that eBay is testing "soft-closing" on auctions (extended bidding) in the trading card category. As a life-long antique dealer, and seller on eBay for 27years of antiques, art, and collectibles, I just want to say that we would absolutely LOVE eBay to switch to soft-endings! If anyone from eBay is reading this, PLEASE REACH OUT TO US!! (If anyone has a contact I can reach out to, please let me know!!!! I have messaged my account manager, but the more people I can reach, the better!)
Fixed-time auctions are something about eBay that we have always struggled with. We have lost several consignors because other online auction houses offer soft-closes (plus less of a percentage because they charge a buyer's premium). We also lose a lot of money because people miss out on the end of auctions. We get messages daily from people who tried to bid more at the last minute and ran out of time.
If this beta program extends to other categories, we would LOVE to be part of it. We have a steady flow of auctions listed at all times and a massive following of repeat bidders (many of whom have expressed wanting soft-endings), so I think we could be a really good fit to test this out. I would BEG to be part of a beta program when or if it happens!
To be honest, Trading Cards are literally one of the WORST categories to choose for this program. Collectibles like this, where hundreds of each card are available at any time, and upgradable ect..already have an approximate "fixed-value" so bidders are not going to drive up the sale price to something crazy because they can always just go find another one if they miss out on the auction. HOWEVER, items like what we sell...unique, one-of-a-kind, rare, original works of art ect... these items are worth what people are willing to pay. Collectors with deep pockets will pay significantly more than something is "worth" simply because they absolutely NEED to have it, and their chances of finding another one are slim. So please pass this valuable information on to the right people as well. Dealers of eclectic and unique collectibles, art, and antiques are the ones who should be testing this program (And also who are familiar with Soft-Endings already, because SO MANY auction houses already use them.)
If this beta program extends to other categories, we would LOVE to be part of it. We have a steady flow of auctions listed at all times and a massive following of repeat bidders (many of whom have expressed wanting soft-endings), so I think we could be a really good fit to test this out. I would BEG to be part of a beta program when or if it happens!
To be honest, Trading Cards are literally one of the WORST categories to choose for this program. Collectibles like this, where hundreds of each card are available at any time, and upgradable ect..already have an approximate "fixed-value" so bidders are not going to drive up the sale price to something crazy because they can always just go find another one if they miss out on the auction. HOWEVER, items like what we sell...unique, one-of-a-kind, rare, original works of art ect... these items are worth what people are willing to pay. Collectors with deep pockets will pay significantly more than something is "worth" simply because they absolutely NEED to have it, and their chances of finding another one are slim. So please pass this valuable information on to the right people as well. Dealers of eclectic and unique collectibles, art, and antiques are the ones who should be testing this program (And also who are familiar with Soft-Endings already, because SO MANY auction houses already use them.)
We could even test out specific items that we already sold once....like if we sold a toy for $200 but the buyer backed out, we could relist it with a soft-ending and see if it sells for more ect... nice hard factual data!
I obviously don't need to say that if this were to happen, it would not only make the US more money, but EBAY would make more money, too! I have already messaged my account manager, but I am putting it here too because I would love to talk to anyone at eBay about this progressing forward, and if there is anything we can do to help get the ball rolling faster!
Lisa Barry
eBay Seller ID: WWOLST12
Lisa Barry
eBay Seller ID: WWOLST12
9 comments
simba6
·11 months agoOver fifteen years ago all the big internet search engines ran auctions and offered soft closings. They are all gone now. All that does is cause nibble bidding. You get tons of bids but the amount does not go up much. Most auctions are sealed bid and not outcry. Bidders would have to stay by their computer until it ended.
Snipe bidders often throw a strong bid as they only have one chance. Those are often higher than what the nibblers bid.
Then there is the market stress. Antiques and collectables are items no one needs. They are the first items dropped when the budget gets tight. Lets not make it worse.
selsa84
·11 months agoIve bid on more than a few of your maps in the past and if this happens to auctions across the board you will lose a lot of bidders and buyers. People want to bid on an item that has a known end date not bid and bid and rebid. Cancellations will sky rocket.
selsa84
·11 months agoShort term greed that will poorly affect long term profits. I think soft end auctions are a death blow for eBay auctions. Also I guarantee cancels and non payments will sky rocket.
pastimpressions
·11 months agoA big NO on soft endings IMHO.
There has to be a beginning and an end. A KNOWN beginning and end.
If an auction item is of great interest to a potential client, that client will make the time to be there in real time.
You mitigate regret for not getting a high enough bid in under the wire by bidding higher sooner.
We can't win them all. And we can't all wait.
As a buyer, I have lost auctions because I wasn't able to be at the closing bell in real time. Bid a high bid early when I could, lost out late.
I have underperformed on auctions as a seller due to uncontrollable issues that have prevented some of my regular buyers to engage online in real time.
It's all part of the game.
I won't participate in any online auction that does not have a clearly stated and fixed ending time.
That is fair to all sellers and buyers.
roccotacodad54
·11 months agoI only buy and alot of the vintage items I buy are in an auction format.
I agree with others that I don't like soft endings. They irritate me.
There's another site with them and if I can find the same item on eBay instead I'll go with eBay almost always.
Even with live in person auctions I prefer a closed/sealed bidding format. I don't like or need the drama of competing and spending more time to win or lose.
If this spreads to other categories on eBay I'll seek other venues to spend my money first and eBay will no longer be my first choice.......................
farmalljr
·11 months agoAs someone who buys from auctions frequently, I can tell you soft close auction are a huge red flag for me and will not use them.
I also stopped attending live auctions that the auctioneer wanted to drag out each item, working for an extra dollar. I've blacklisted certain auctioneers in my area, that I will not attend any of their events. My time has value and I'm not there to "hang out" all day when it could be over in a few hours. Soft close auctions are the same thing. I think sellers would find fewer bidders and lower prices. Soft close auctions give less emphasis on making one last big bid to win (sniping), and they bore a bidder when they drag out.
a_c_green
·11 months ago@wwolst12 : This topic comes up on a low but regular basis. I keep this link to an earlier discussion (below) bookmarked as I think it's a good representation of the arguments for and against:
https://community.ebay.com/t5/Selling/Extend-the-auction-by-three-minutes-when-a-bid-is-placed-with-in/m-p/27697162#M1079366
doc-holmes
·11 months agoOr buyers like me will just say "screw it" to auctions and not bother. You'll have fewer bidders.
gurlcat
·11 months agoSame here. Soft close auctions make sense for in-person with an auctioneer, but online ones with the silly timers and silly sport bidders (who may not even pay) .... way too irritating. I've done it on one auction site and haven't been back there to even see what they have since then.