TOPIC: RESULTS ARE IN: 8K Auction Preferences Survey

Hi all-

Just getting into the community a little more and just came across the auction community! Have been watching the last few and wanted to do a quick poll to see what people think! Appreciate it!

forms.gle/qb5VvsCJEWkoAQ5F8

For your third question: "How do you prefer to determine winner?"

I think you meant how do you prefer to determine winning bid? Obviously the winner should be the top bidder. How much they pay could be one of the three options you list?

Yea, holding off on this due to confusion with 3rd question

Great point and have clarified as "How do you prefer to determine the Winning Bid?".
Also updated the Length of Auction to give both "Fixed" length as well as "Fixed or until Funded" options (thanks for the suggestion!).

Side Note: Thanks everyone for the quick response on this and will definitely share the results!

Pinging this once more before launching my first auction (following Scott's current auction) and appreciate all the feedback so far!

Survey

The winning bid Part threw me.

I like winner is highest bidder, but the pay max of 2nd bid plus bid increment, or 2nd bid if they bid before 2nd place.

Matt Soto wrote: Pinging this once more before launching my first auction (following Scott's current auction) and appreciate all the feedback so far!

Survey

Just popping in a note for you.

You may have a hard time getting any buy in on your auction given your relative newness to the site and lack of established trade/sale history.

There's a LOT of money at risk in an 8k auction and the majority of the auctions that do run do so on multiple years of established trades or sales of smaller amounts from that seller. While it is commendable to want to jump in head first and join the community you may find it hard to get people to buy in with an unknown quantity.

I may be completely wrong on that one but just giving you a pre-auction insight

No worries and appreciate the feedback! Definitely something I was considering as well as know it is a tighter community and considering it is 8K in bids, it is nothing to be taken lightly. I will be interested to see how it goes and happy to address any concerns that might come up.

I have had a pretty successful track record in other gaming communities I've been a part of, but know all communities are different. That said, everyone has been super supportive so far and I've been loving joining into the fray! 😊

Thanks again!

Arcanist Kolixela wrote:

Matt Soto wrote: Pinging this once more before launching my first auction (following Scott's current auction) and appreciate all the feedback so far!

Survey

Just popping in a note for you.

You may have a hard time getting any buy in on your auction given your relative newness to the site and lack of established trade/sale history.

There's a LOT of money at risk in an 8k auction and the majority of the auctions that do run do so on multiple years of established trades or sales of smaller amounts from that seller. While it is commendable to want to jump in head first and join the community you may find it hard to get people to buy in with an unknown quantity.

I may be completely wrong on that one but just giving you a pre-auction insight

I feel like that was one of the reasons Mitchell's struggled. Folks knew him from volunteering and some IRL encounters, but I'm more active on here and discord that he is, so it was kind of a "who is this dude" moment, so it is a good caution that it may slog or stall.

Definitely agreed and my hope is that for the players that are willing to give me a go, they might get the benefit of a few steals in the bids as I expect them to be lower overall. Still taking that into account as I plan out the funding metric as may keep it lower than normal to reward those that “buy-in” early on me.

Hi All!

Thank you again to everyone who participated in the survey and was definitely helpful to learn more about our auction community and hopefully can help us run auctions in the future to match preferences or do some things a little differently from time to time. Here are the results!

WHAT TYPE OF AUCTION FORMAT DO YOU PREFER?
Silent Auction by a LANDSLIDE: Only one person did not put it as their 1st or second preference with 78% making it their #1 preference. One note was some individuals preferred to not have monikers vs. showing individual buying patterns across items.

HOW TO DETERMINE WINNING BID?
2nd + Bid Increment (Vickery Auction): This got 59% of the vote and made it a bit closer than Q1, however I think this may have been more due to my own confusion. I think had I worded more clearly, almost all would have chosen this option in which the bidder is protected from over bidding via 2nd + inc. and the top bid wins.

LENGTH OF AUCTION?
2 Weeks, but not by much: This was by far the closest survey with 36% voting 2 Weeks, 32% voting 1 Week, 23% voting 1 Month, and 9% voting for Indefinite Until Funded. While the length varied, there was one common thread: Lightning Style (Closing Auction Once Funded). 82% of responders preferred that option with 18% preferring a fixed length.