Cars & Bids blows except Doug is making a fortune

[IS300]

I tried to buy a car on Cars&Bids what a joke the bidding ended, but then just kept going up, sixty more seconds it goes up, someone bids another minute on the clock.

You can communicate with others as you bid.
So as this was happening I asked what is going on?
The response was " this is transparency bidding "

I Had no idea what the winning bid was till it finally ended.

At a real live auction you know what the high bid is always...

Have any of bid on this site?
Lots of autos selling every week .

P.S. What crazy prices people are paying for cars !

[75'930cab]

That’s the same bidding process as BaT.

[herr_oberst]

There's a good reason for the sixty second rule.

[cabmandone]

Not uncommon for bidding to extend beyond the "end" of auction. In Auctiontime and other online equipment auction sites, a bid extends the auction when the auction gets below 1 minute. Think of the extended auction as the ring man working the crowd to get that extra bid only the online auction is letting you work yourself into bidding more.

And yes, the car market in general is nuts.

[unclebilly]

Lots of online bidding has gone this way, it’s not new and it actually mimics a real live auction. The auctioneer doesn’t end the auction when bidders are still bidding.

As a seller, it’s great. As a buyer it works too but you need to understand this is how it works going in rather than trying to snipe the last millisecond bid like eBay circa 2001…

[Norm K]

Originally Posted by herr_oberst

There's a good reason for the sixty second rule.

Agreed, anything else would be unfair to potential buyers and a huge disservice to sellers.

_

[IS300]

My point is........ a live auction you know the high bid at all times

[matthewb0051]

Gunbroker has a 15 minute rule:

"the 15 Minute Rule. If a user places a bid within 15 minutes of the scheduled end date/time, the auction automatically switches into a special mode analogous to the "going, going, gone" of a live listing. In this mode, the listing is automatically extended until no bids have been placed within 15 minutes. When 15 minutes have passed with no bidding activity, the listing ends. "

[cabmandone]

Originally Posted by IS300

My point is........ a live auction you know the high bid at all times

Are you sure your screen wasn't refreshing or something like that? I've never seen an auction where the bid didn't update with each bid made.

[Por_sha911]

The Gunbroker 15 minute rule ensures no one bid with software that puts in a number with only seconds to go. Like car auctions, Gunbroker people are paying stupid amounts!

[HobieMarty]

Lot of cool stuff on Cars and Bids but yeah, stuff going for stupid money.

Sent from my SM-N950U using Tapatalk

[IS300]

I had my high bid was $9000.00 (showed like $7400.00 at first ) but the bidding took two days to get to my bid , like ebay, the went to some crazy number.

[cabmandone]

^^^
Typical online auction. Last day and even in the last 30 minutes, it goes nutso. My cousin called me a few months ago to tell me about a machine he saw online. He said he hoped to buy it in the mid to upper 20's because it was so low with 1 day to go. I told him the machine would end in the high 30's. Boy was I wrong... it went high 40's with the bulk of the bidding happening in the last hour of the auction (naturally with the extensions)

[slow&rusty]

A huge "no" to Cars and Bids

An even larger "no" to Doug Demro

They tried to manipulate me not that long ago to set the reserve ridiculously low on my very mint 1987 Porsche 928 S4 manual. I wanted the reserve set at $25k, they refused and said the highest they would go would be $10k, I went back and forth with them and eventually told them to go fork themselves.

The reason they wanted the reserve set low? So they could move widgets, make money and satisfy their investors\backers. They don't give a rat's a$$ to the little guy who has spent or rather sacrificed years of time and thousands upon thousands to build that one car. Demuro used to be a regular car guy like us, now he is a corporate giant.

I sincerely hope I do not ever meet Demuro in person, I might have to drop the Will Smith on him.

[john70t]

Originally Posted by Por_sha911

The Gunbroker 15 minute rule ensures no one bid with software that puts in a number with only seconds to go. Like car auctions, Gunbroker people are paying stupid amounts!

That 15min doesn't solve anything, I'd guess.
-A bot still has a set price range it won't go over.
-The seller can still have his friends shill the price up.
-It will raise all prices.
-Reduced traffic. Those 1 in 100 scores are the positive reinforcements keeping people on the site digging for gold nuggets.

[aschen]

Originally Posted by slow&rusty

A huge "no" to Cars and Bids

An even larger "no" to Doug Demro

They tried to manipulate me not that long ago to set the reserve ridiculously low on my very mint 1987 Porsche 928 S4 manual. I wanted the reserve set at $25k, they refused and said the highest they would go would be $10k, I went back and forth with them and eventually told them to go fork themselves.

The reason they wanted the reserve set low? So they could move widgets, make money and satisfy their investors\backers. They don't give a rat's a$$ to the little guy who has spent or rather sacrificed years of time and thousands upon thousands to build that one car. Demuro used to be a regular car guy like us, now he is a corporate giant.

I sincerely hope I do not ever meet Demuro in person, I might have to drop the Will Smith on him.

Not defending their tactics at all, but if you have faith in their market reach the car should sell near market, if you don't have faith in there reach shouldn't use them anyways.

[lgb240]

Originally Posted by slow&rusty

A huge "no" to Cars and Bids

An even larger "no" to Doug Demro

They tried to manipulate me not that long ago to set the reserve ridiculously low on my very mint 1987 Porsche 928 S4 manual. I wanted the reserve set at $25k, they refused and said the highest they would go would be $10k, I went back and forth with them and eventually told them to go fork themselves.

The reason they wanted the reserve set low? So they could move widgets, make money and satisfy their investors\backers. They don't give a rat's a$$ to the little guy who has spent or rather sacrificed years of time and thousands upon thousands to build that one car. Demuro used to be a regular car guy like us, now he is a corporate giant.

I sincerely hope I do not ever meet Demuro in person, I might have to drop the Will Smith on him.

C&B and BAT couldn't give a **** about what you think your car is worth or getting you top dollar.
They are in the business of putting a seller and buyer together and getting paid a percentage for the process. They don't want a no sale from a marketing perspective or from a not getting paid perspective.

[tdw28210]

Hagerty insurance’s Drivers Club members have access to an auction website now. Played with it yesterday. Only saw like 40 cars on it but I think it’s brand new and maybe even free?

EDIT: looks to be more like a classified ads than auction

[slow&rusty]

Originally Posted by lgb240

C&B and BAT couldn't give a **** about what you think your car is worth or getting you top dollar.
They are in the business of putting a seller and buyer together and getting paid a percentage for the process. They don't want a no sale from a marketing perspective or from a not getting paid perspective.

No $ hit Sherlock...you don't say.

I've sold three cars successfully on BaT, the same Porsche 928 I referenced above, BaT were happy to set the Reserve at more than double what C&B offered.

[tabs]

Originally Posted by IS300

My point is........ a live auction you know the high bid at all times

You and Kamela must ride on the same Special school bus everyday.

An absentee bid can be much higher than the current floor bid...

An absentee bidder can have bid 10K whereas the live floor bid is at 5K..