TOPIC: Auctions without specified end?

Do folks like these?

Do people running these find bids have been pulled due to never ending times?

How long is too long?

I doubt I would bid on an auction with an unspecified end, unless I felt very confident it would close in a reasonable time.

I haven't tracked specified end vs. non specified. Most auctions are "lightning style" that end when funded.

I will say that forum auctions have significantly lower velocity than Trent auctions this year. Very few forum auctions have closed.

Gonna be the norm going forward; I don’t blame anyone for buying only from Trent. All of the benefits from his auctions can’t be beat. The by-product is the death of forum auctions.

Honestly I've shifted most of my purchases this year to Trent auctions. That's a trend that will likely continue as long as he's running them as he currently does. Even if there are some better deals on the form auctions the squishy end dates are less desirable.

I'd say it's a bad idea.

Some people will forget what they bid on, or want to bid on other auctions and not get the same thing twice, etc.

If I were going to run an auction with no hard cutoff date, I'd be sure to provide guidance on the procedures under which the bidder could withdraw their bid, and the auction runner could cancel a bid.

Technically Trent's auctions don't have a close date. But the automation helps speed it along. I'm sure some of his later 2024 one took a while to fund.

Forum auctions need the person running it to look at all the bids and make updates when they can.