Megasam's right. The auction system on Audiogon has it's shortcomings as a way to procure equipment, such as its being heavily loaded in the seller's favor and the way bids close.
Jostler3 is right that closing the bidding 24 hours (or some reasonable time period) after the last bid was placed would be an improvement. Then it would be more of a true bidding process and more convenient to *all* the interested buyers. This change would benefit the sellers by helping to insure the absolute highest offers are received and would make playing the game more convenient to the buyers.
BUT as Blbloom says the rules are known and it's not unfair to use them to one's advantage. If someone doesn't like the rules, they shouldn't play the game.
Personally, sitting in front of the computer following a bid closing is a poor use of time. When something of interest goes up for sale I want to negotiate terms to buy it, not play games. The "excitement" of an auction simply has no appeal and is, in fact, an unneeded aggravation for the reasons already stated. Based on what little attention I've paid to them, there aren't that many *real* deals to be had through Audiogon's auctions, especially with the allowance of hidden reserves. IMO, it's not a real auction unless the bidding starts at the minimum of what the seller will take. In its current implementation it's little more than a tool to try to get a jacked up price or to safely test what the market will bear.
To those who find auctions exciting I'd like to suggest getting out more. There are far better ways to get your blood pumping! But if that's what turns your crank, have at it. You won't get any intereference, or competition, from me. Do what makes you comfortable and ENJOY!
Jostler3 is right that closing the bidding 24 hours (or some reasonable time period) after the last bid was placed would be an improvement. Then it would be more of a true bidding process and more convenient to *all* the interested buyers. This change would benefit the sellers by helping to insure the absolute highest offers are received and would make playing the game more convenient to the buyers.
BUT as Blbloom says the rules are known and it's not unfair to use them to one's advantage. If someone doesn't like the rules, they shouldn't play the game.
Personally, sitting in front of the computer following a bid closing is a poor use of time. When something of interest goes up for sale I want to negotiate terms to buy it, not play games. The "excitement" of an auction simply has no appeal and is, in fact, an unneeded aggravation for the reasons already stated. Based on what little attention I've paid to them, there aren't that many *real* deals to be had through Audiogon's auctions, especially with the allowance of hidden reserves. IMO, it's not a real auction unless the bidding starts at the minimum of what the seller will take. In its current implementation it's little more than a tool to try to get a jacked up price or to safely test what the market will bear.
To those who find auctions exciting I'd like to suggest getting out more. There are far better ways to get your blood pumping! But if that's what turns your crank, have at it. You won't get any intereference, or competition, from me. Do what makes you comfortable and ENJOY!