I was bidding on a psa 10 1st edition base Raichu and winning. It was nearly out of time and the card was sat under recent auction sales but not by much.
The timer of extended bidding reset to 1 minute 59 from around 1 minute 55 over the course of about half an hour. No one else was bidding as I was at my max so would have been outbid if they had.
I’m in the UK so I don’t have the luxury of sitting and watching at that time so I gave up and went to sleep. The only reason I saw this at all was because my son woke me up over that period.
Woke up this morning, I have lost by a single bid, that card is now on ebay under the Alt ebay account for 2k more than it sold for as a buy it now. It seems I was outbid a while after I gave up.
If there was a reserve I could understand but why didn’t the auction just end as timed?
Anyway, not the end of the world or anything but it’s unlikely I will bid on there in future if this is a common thing
Yeah Alt sucks for the everything extends rule i gave up using it. If you wanna bid on anything you may as well not even try until hours after it shouldve closed as they always drag on
I’ve followed ALT auctions since the prototypes were added. The auctions have consistently ended around 11-11:15 EST. This is probably ~5am your time?
If any item in the auction block gets a bid, the timer gets extended. Which is why the auctions start at 9pm EST and end around 11pm EST. Not my favorite format either, I prefer the fanatics way of doing the auctions.
Only issue with that is that it gives any potential shill bidders more time to outbid then cancel to figure out your max. Though with the recent prototype issue the bidders just seemed to bid a bunch and then not pay if they won.
Generally auctions take the buyers premium completely (burning the candle at both ends), a practice that only became commonplace around 1980 (the concept of charging a buyers premium as well as the sellers fees was highly controversial at the time). In some special cases the auction house will share the buyers premium with the seller as part of the overall fees negotiation (in cases where the seller has a special item the auction are eager to consign for example).
At the moment eBay is my favorite place to bid, you can just leave a snipe with gixen and unless there is some kind of leak from gixen your max bid is completely private and executed within the last few seconds without extended bidding. Also for private sellers there are no selling fees in a few countries. Only issue with eBay is non paying bidders and return issues.
I don’t like the way ALT does the auctions but I personally like the experience of fanatics and goldin. The auctions feel more like an event and something you are taking part of to win, as opposed to just sniping a listing. The auctions feel more official and I also prefer the additional time that buyers have between bids. Just my personal taste though
I feel Fanatics gives more regular opportunities at having a shot at bidding on the rarer cards than ebay so I like it for that. It feels like people are more likely to buy a grail on fanatics via bids and then list it on eBay for 2x than the reverse. Another cool thing with fanatics is the vault functionality, essentially turning Pokemon cards into a digital liquid asset (though I have chosen to opt for physical delivery so far, its an interesting innovation for speculators).
thats how their auctions work if one item gets a bid it extends the bids for all the items. dont worry tho i give it at least a 50% chance it gets reauctioned in 2 weeks
