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Thread Admin: AuctionArmsCeo (7-0-0) (Last 10 Posts) Posted: 08/18/2010 at 09:10:20
Total Posts: 145
Thread Title: "Announcement - 10 Minute Rule"
AuctionArmsCeo

At the request of many of our users, and after consulting with our buyers and sellers over many months, we've decided make a change to how auctions are run at Auction Arms. Starting September 1st, all Auction Arms auctions will have a 10-minute rule implemented at closing time. This 10-minute rule means that if anyone bids in the last ten minutes of an auction, the auction will be extended by 10 minutes from the submission time of the bid. We feel, as do many others, that this new rule will benefit both buyers and sellers by giving everyone an opportunity to bid on an item to find it’s true market value. I realize that not everyone will be happy with this decision, but we feel it’s in the best interests of Auction Arms, and our buyer and sellers, and hope you will remain our loyal customer. Thanks for your patience.

 

Manny DelaCruz

CEO/AuctionArms.com, Inc.

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Former Seller: Petesguns(1380-1-3) Post#26 - Posted: 08/20/2010 at 10:39:31
Petesguns

Well, gov, good question. I have found that the service given here has, so far, outweighed the downside. I did not really care if the delay rule was put in or not, but now that it is, whatever I think ain't gonna matter anyways. Will it help my guns get closer to an actual realized value? Absolutely. Is there something wrong with wanting your wares to get more $ at their sale? No. Will auctions here now FORCE a buyer to pay more? Not if they don't WANT to pay more. I HAVE sold over on the other site, and have had some good experiences, and interestingly, FAR, FAR less deadbeats for whatever reason. But, I like the user friendly way this site is set up. I like the way photos are added, the invoicing system, the length of auction options, the Penny category, and just about everything about this site except it's size and dearth of advertising and brand recognition amongst computer savvy gun buyers. Guess that about covers it, and all of the aforementioned "stuff"  balanced out the lack of a delay at close. I find that the ease with which auctions are posted here takes less time, and time IS money. GB has their 15 minute delay, and it has made me some more $ there, but it ain't all "green" over there. Sorry for the long winded answer, but you asked! LOL! Take care.

Buyer: brainaxe(18-0-0) Post#27 - Posted: 08/20/2010 at 11:39:12
brainaxe
Petes- (The seller always has the option of setting the Starting Price.) But let me ask you this....
 
In an auction that has a current bid of $200 on an item, that let's just say should go for about $1000. And bid increment of $1.
 
Lets say I really want this item! So I set my PROXY (max bid) at $1200.
 
The bidding gets near the end of the "timed" auction, so a few snipers hit at 3-4 minutes before the end at say, $800 then $900. ( it's creeping up)
 
The last sniper hits at the very last second for $999!  He has bid this, because he also thinks the gun will go for about $1000. - But of course, I win! Because my PROXY is $1200! But I win for only $1000!!! Not $1200.
 
IF: We were to add the 10 Min.Rule in this scenario, what would happen?
 
The sniper (now just a bidder) will have started the 10 minute CLOCK! He will see his bid of $999.
So he bids $1000, then $1001, then $1002 and so on until he either gets to my $1200 or STOPS at what he thinks the item should go for!
 
But in the first scenario, he has already determined what he thinks the item should go for! That's why he only bid $999!
 
Providing and extra 10 minutes won't get someone to bid MORE than they want to bid!!! ( in fact that is exactly what you have said in many posts! ) Therefore, Sellers WON'T benefit by this Rule either! Except maybe by the bid increment, which in this case is $1.!!!
 
In a "Timed" auction, the sniper hits with his BEST SHOT!! Because time is running out!!
 
With a "10 Min. Rule", there are no snipers, but there are "creepers" who again, will only bid up to what they think it is worth!!!  --  (in your words)   "No one will MAKE you go back to an auction and keep entering a bid until no more bids appear..."
 
I think this new rule will have no effect on what is paid for items. I think the sellers who believe they will benefit, are simply "hoping".
 
People choose different sites for different reasons. But there are only a few differences between sites!
And all this new rule will do, is to take away ONE of those (few) reasons to shop here!

Former Seller: Petesguns(1380-1-3) Post#28 - Posted: 08/20/2010 at 12:10:36
Petesguns

brain, very well thought out response. I still feel that there is no forcing of bids as long as a buyer has it in his mind BEFORE he starts bidding what his maximum is. An item will STOP increasing in bids only when bids stop coming in. As long as you have entered your maximum in the Proxy system, you won't spend more than you wanted to. The buyer that wins will be the last bidder there IS, not the last one that the timer allowed. Sellers who start auctions at starting prices have picked where they want it to START, but the BUYER is the one who decides where it will END! OOPS, guess Hagrid will pick on me for posting yet ANOTHER post about this, like I care! Good post, brain......very BRAINY!

Buyer: Schuylerboy(21-0-0) Post#29 - Posted: 08/20/2010 at 12:14:04
(no avatar)

I've never used gunbroker or gunsamerica before, maybe I won't use any at all. I have several local dealers that won't rape me for another price every ten minutes. In my state it's easier to go to gun shows and buy from private people. It's a shame that greed ruined this site though. I guess there are liberals even in a firearm related site.

Former Seller: Petesguns(1380-1-3) Post#30 - Posted: 08/20/2010 at 12:52:47
Petesguns

Schuylerboy, it is not the SELLER that is "raping" you with a new price every ten minutes. He is not raising the price.....your fellow BIDDERS are, just like at a regular live auction. The price raising STOPS when bidders stop raising the bid.

Former Seller: SO4651(13-0-1) Post#31 - Posted: 08/20/2010 at 13:13:49
(no avatar)

Lets be honest here. The system wasn't broken, some people just got a little more greedy.

AA said they asked around, well they didn't ask me, and I would like an honest answer as to how many buyers were contacted and how many buyers thought this was a good idea.

There are so many other items available on the other site compared to AA, and it isn't because they have the 15 min rule. A good self examination of who and what is being offered on AA, and what AA is doing to promote the site would be far more beneficial than tinkering with the format

If sellers want a "fair market value" for there items they should check the various sources to see what they are selling for and mark their items accordingly. No matter what site I look at, I will avoid any Reserve auction unless it has a buy it now because you have an auction in an auction. You want fair market value than put a fair price on it and put a "buy it now" on it.

Right now the seller is and always has been in the drivers seat. He puts the price on it that he wants to sell it for, or at least he should. If you don't want to have a real auction put your items in a classified or on a site that puts a price on it and thats what you pay.

AA seems to be the "good ole boys" site when you look at the forums and discussions, same old, same old. Gunbrokers seems the more professional site with less BS'ing sniping and more selling. If you want a site to be nothing but forums for the lonely fine, but don't go crying and tinkering with the format when the profits aren't meeting expectations.

The system at AA wasn't broken, and if it isn't broken, it doesn't nee fixin.

 

 

Former Seller: Kan Do Arms(70-0-0) Post#32 - Posted: 08/20/2010 at 15:15:55
(no avatar)

gun brokers and auction arms may be the same we don't know do we

Seller: Hartwell Gun(1257-1-2) Post#33 - Posted: 08/20/2010 at 15:57:12
Hartwell Gun

Damn!!! Kan do,you may be on to something"The Great Gun Auction Conspirecy"

Buyer: yloshrk(8-0-0) Post#34 - Posted: 08/21/2010 at 12:50:01
(no avatar)

The one thing I found unique about AA was the ability to fix your sights on something you really wanted, then hunt it down at a bargain. I have done the countdown to end and scored some good deals, and I have had a high bid that lasted til the last minute and then got beaten by a buck. Either way there was sort of a "thrill of the hunt" sort of thing that didn't exist on the other sights. All win for sellers, loss for buyers.

Buyer: BNPHunter 357(3-0-0) Post#35 - Posted: 08/21/2010 at 15:17:46
(no avatar)

Well I just did that today on a couple of beaters so I can redo them and sell them to a couple of guys that wanted me to do so And now I get to order another cylinder for one of them as well--ain't it grand fun fun fun

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