Gunbroker 15 Minute Rule

[AirgunSavant]

Not a fan of the 15 minute rule.
I haven't done auctions for years but I have something I listed there because
I get complaints that a few people get all of my customs. Well that is true because they sit
on the computer 24/7. Not my fault.

I can see the buyers excitement of the 15 minute rule but to me it stops most bidders from
bidding until the end. If you're a buyer its a nail biting fiasco at the end.
It doesn't stop sniping it just extends it on and on

 

[CarbonSteel]

Not a fan either. Gunbroker states that eBay users complain about "sniping" and they should go to the same system that Gunbroker uses. I disagree. Set your maximum bid to want you want to pay, if someone else comes in at the last minute with a higher bid and wins and you are disappointed or irritated, well, set your bid higher next time or live with it.

 

[AirgunSavant]

Well said!!!
Sometimes if you really want it, you got to pay up....

Originally Posted By: 2015_PSD
Not a fan either. Gunbroker states that eBay users complain about "sniping" and they should go to the same system that Gunbroker uses. I disagree. Set your maximum bid to want you want to pay, if someone else comes in at the last minute with a higher bid and wins and you are disappointed or irritated, well, set your bid higher next time or live with it.

 

[Triple_Se7en]

It's about time! Bravo to Gunbroker.

 

[CarbonSteel]

Originally Posted By: Triple_Se7en
It's about time! Bravo to Gunbroker.
Out of curiosity, why? Gunbroker has had this system forever--nothing new.

 

[jjjxlr8]

Originally Posted By: 2015_PSD
Not a fan either. Gunbroker states that eBay users complain about "sniping" and they should go to the same system that Gunbroker uses. I disagree. Set your maximum bid to want you want to pay, if someone else comes in at the last minute with a higher bid and wins and you are disappointed or irritated, well, set your bid higher next time or live with it.


If you bid like that, it really doesn't matter whether they have the 15 minute ruler or not. That's the way I bid, by the way!

 

[BrocLuno]

Just throw down your max amount and don't even look at the bid. Wait for the email saying you won. If it never comes, you know someone else wanted it worse than you ...

 

[Triple_Se7en]

Originally Posted By: 2015_PSD
Originally Posted By: Triple_Se7en
It's about time! Bravo to Gunbroker.
Out of curiosity, why? Gunbroker has had this system forever--nothing new.


Thought the policy was new there.

 

[billt460]

OK, I'll bite. Never bought anything on Gun Broker, E-BAY, or all the rest. What IS the.... "15 minute rule"???

 

[CarbonSteel]

Originally Posted By: billt460
OK, I'll bite. Never bought anything on Gun Broker, E-BAY, or all the rest. What IS the.... "15 minute rule"???
eBay uses a timer and when it is expired the auction is over. Some bidders wait until the last minute (second) and place a bid, often "sniping" the high bidder and since there is no time remaining on the clock if the "sniper" outbids the high bidder he/she wins. Gunbroker extends the auction time until there are no other bids placed for 15 minutes, in an effort to prevent sniping. IMHO, those who complain about sniping should have set their maximum bid higher, after all, it was supposed to be the maximum they would pay for the item, right?

 

[billt460]

Originally Posted By: 2015_PSD
eBay uses a timer and when it is expired the auction is over. Some bidders wait until the last minute (second) and place a bid, often "sniping" the high bidder and since there is no time remaining on the clock if the "sniper" outbids the high bidder he/she wins. Gunbroker extends the auction time until there are no other bids placed for 15 minutes, in an effort to prevent sniping. IMHO, those who complain about sniping should have set their maximum bid higher, after all, it was supposed to be the maximum they would pay for the item, right?


It seems to me you can't know what the highest price is until it's been exposed for all to see for an appropriate length of time, without anyone upping it. Otherwise you're just guessing, and could overpay. Or else not pay enough because the clock ran out, and others were denied the opportunity to bid higher. The whole purpose of an auction is to fairly sell the item in question at the highest possible price. You can't do that unless the bidding runs it's course, and everyone else refuses to outbid the highest bidder for a fair length of time. (In this case, 15 minutes). From what you're telling me, the "15 minute rule" allows this to happen. Correct me if I'm wrong, but I don't think 15 minutes is an unreasonable length of time to wait for something you really want. I've waited longer than that to get waited on at some stores during busy times.

 

[CarbonSteel]

Originally Posted By: billt460
Originally Posted By: 2015_PSD
eBay uses a timer and when it is expired the auction is over. Some bidders wait until the last minute (second) and place a bid, often "sniping" the high bidder and since there is no time remaining on the clock if the "sniper" outbids the high bidder he/she wins. Gunbroker extends the auction time until there are no other bids placed for 15 minutes, in an effort to prevent sniping. IMHO, those who complain about sniping should have set their maximum bid higher, after all, it was supposed to be the maximum they would pay for the item, right?
It seems to me you can't know what the highest price is until it's been exposed for all to see for an appropriate length of time, without anyone upping it. Otherwise you're just guessing, and could overpay. Or else not pay enough because the clock ran out, and others were denied the opportunity to bid higher. The whole purpose of an auction is to fairly sell the item in question at the highest possible price. You can't do that unless the bidding runs it's course, and everyone else refuses to outbid the highest bidder for a fair length of time. (In this case, 15 minutes). From what you're telling me, the "15 minute rule" allows this to happen. Correct me if I'm wrong, but I don't think 15 minutes is an unreasonable length of time to wait for something you really want. I've waited longer than that to get waited on at some stores during busy times.
From my point of view, you know what the highest bid is going to be (for you) because you set your maximum bid in advance and if it goes over that, you had already agreed upon your maximum. Frankly, it is those who are complaining about sniping who have no basis for that complaint. If you set you bid to the maximum you want to pay, why would you complain if someone outbids you? I see that as getting caught up in the heat of the moment bidding "hype". As for overpaying, that is at the discretion of the bidder. Again, why would you pay more than you want to? All of that is within the control of each bidder. Personally, I see the 15 minute rule as a solution in search of a problem, but that is just me. I have won and lost on both eBay and Gunbroker--the system is what it is.

 

[The_Eric]

bill- I think I see your confusion. You the buyer (at least on e-bay) set your max price you're willing to pay... Say the opening bid is $10.00, but you're willing to go up to $35.00. Now some other fellow comes along and bids $15- e-bay will automatically increase your bid to the minimum increment (as set by the auction) over the other guy's $15. It will continue to do this until you have won the auction or get outbid. If the next highest bidder quits at $25, you will not end up paying your $35 max, only the increment over $25. Clear as mud?

 

[billt460]

Originally Posted By: 2015_PSD
From my point of view, you know what the highest bid is going to be (for you) because you set your maximum bid in advance and if it goes over that, you had already agreed upon your maximum.


Not true. Just because you know what the maximum is you would pay, doesn't mean you should have to pay that. Or be eliminated by not having the opportunity to go higher, should you choose to. The 15 minute rule allows the auction to naturally play itself out in regards to price, and run it's course over a fair amount of time. Just like they do at places like Barrett Jackson, James D. Julia, Sotheby's, and most all other reputable auction houses. There is no such thing as "sniping" allowed there, or should there be. The item goes on the block, and they bid until the price runs itself up to a point that no one cares to bid any higher. Then the gavel drops, and the item is sold. Simple, and fair to everyone involved. Including the seller. No one is "cut off".

 

[CarbonSteel]

Originally Posted By: billt460
Originally Posted By: 2015_PSD
From my point of view, you know what the highest bid is going to be (for you) because you set your maximum bid in advance and if it goes over that, you had already agreed upon your maximum.
Not true. Just because you know what the maximum is you would pay, doesn't mean you should have to pay that. Or be eliminated by not having the opportunity to go higher, should you choose to.
Huh? I am not following your logic on this. How would you NOT pay the maximum amount that you bid? You set the maximum you would pay, people bid against you until 1 of 2 things happens--you win because you have the highest bid or you lose because you were outbid. You have to go into the bidding process with your number already in mind. **Most** online auctions do not work the way that in person ones do. eBay has been setup this way since its inception and this methodology obviously works since it is one of (if not the most) popular auction sites in the world. As I said, I have won and lost using both methodologies and for me I prefer the eBay methodology.

 

[Astro14]

Im willing to go $600 on a gun. I put that in as my maximum. The "bid" doesn't go right to that, it goes to the specified interval above the last bid.

The highest that you're willing to go is $400. You put that in as your maximum.

With $5 intervals, and only the two of us, the bidding stops at $405 and I get the gun.

If "Bob" jumps in at the last minute with a $500 bid, then the bid goes to $505 and I get the gun.

If "Bob" jumps in at the last minute with a million dollar bid, the bidding goes to $605, one bid above mine and "Bob" gets it.

But "Bob" didn't pay a million $$$. Bidding stops at the highest bid. Which is one incremental bid above everyone else's maximum bid

 

[billt460]

I'm not seeing what your gaining by any or all of this? Other than 15 minutes? No one is in that much of a hurry. Especially when buying a gun.

 

[CarbonSteel]

Originally Posted By: Astro14
Im willing to go $600 on a gun. I put that in as my maximum. The "bid" doesn't go right to that, it goes to the specified interval above the last bid.

The highest that you're willing to go is $400. You put that in as your maximum.

With $5 intervals, and only the two of us, the bidding stops at $405 and I get the gun.

If "Bob" jumps in at the last minute with a $500 bid, then the bid goes to $505 and I get the gun.

If "Bob" jumps in at the last minute with a million dollar bid, the bidding goes to $605, one bid above mine and "Bob" gets it.

But "Bob" didn't pay a million $$$. Bidding stops at the highest bid. Which is one incremental bid above everyone else's maximum bid
Correct and this is what I was attempting to explain, but perhaps in a different way. Bob's million dollar bid is sniping and in that case, Gunbroker contends that with the 15 minute rule, it would not be possible for Bob to win at the last minute since you (Astro) would have a chance to up your bid. However, my point is you already set your maximum bid, so if you lost why the complaints requiring the 15 minute rule versus eBay's way?

 

[bubbatime]

Originally Posted By: BrocLuno
Just throw down your max amount and don't even look at the bid. Wait for the email saying you won.


In relation to eBay, that is how you over pay. I used sniping software on eBay to bid in the last 3 seconds and it saved me a lot of money. The "snipe" is a tactic, used by smart folks, that is within the rules. If you are buying on eBay and NOT using a sniping software, I wouldn't call you an idiot, but I would call you an uninformed buyer that likes to overpay for items. I was an eBay power seller at one time. I got ripped off too many times, so I refuse to do any business with that crook service anymore.

As to gun broker, with the 15 minute rule in place, I still would prefer to place a bid in the last minutes of the auction. Lots of folks cant or wont sit around and watch an auction page, so you are still more likely to get the item cheaper if you place your bid in the last few minutes.