Subject:
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The AucZilla 500 auction
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Newsgroups:
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lugnet.market.theory
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Date:
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Mon, 9 Aug 1999 02:05:51 GMT
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Viewed:
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581 times
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That auction was certainly a novel experience for me - having
so many sets to choose from. I had a great time bidding in it
- thanks Todd and Charles for organizing it.
Now that it is winding down, I
was wondering what impressions people had from participating in it
or if anyone feels there are any interesting points about auction theory
to be learned from it.
Since I'm asking for impressions, here's my tuppence worth...
I think one of the things that surprised me the most was that at
the start of the auction I made a list of about 6-7 sets that I definitely
wanted and would bid on. I was convinced those were the ones I
wanted and that I'd pay quite a lot to get them, yet by about halfway
through the auction I was bidding on 4 or 5 sets, only one of which
had been on my original list. All sorts of things influenced me
during the auction - ranging from deciding the bidding had simply
gone beyond what I wanted to pay for a set (6384 police station),
finding a set more cheaply elsewhere (2150 train station) or just
browsing round the auction site and noticing sets I hadn't realised
were there before, and which looked more interesting than the ones
I had been bidding on.
There must be a lot of collectors out there - it was interesting to see how
well the market bore so many sets, with prices still going quite high. I
actually stopped bidding on one set after I browsed round ebay and
realised the set had sold on ebay a couple of times for a lower price
than on AucZilla.
I did start to feel some sympathy for Ebay's fixed-time-limit auctions:
This was largely because of my experience with one set, for which
I had a high proxy bid and for which I was prepared to pay a ridiculous
amount to get: Three times in a row someone attempted to outbid
me after the set had gone to going twice. In every case it was clear
they were just testing the water to see if my actual bid was my
maximum - it wasn't - so the effect was just to leave me with the
highest bid - but one dollar higher. Except that it also set back the
status to open. Don't get me wrong - I'm not complaining - it
was perfectly fair. It's just frustrating to keep coming so near then
get set back by a few days when you have already placed a high
proxy bid.
Finally I was quite intrigued by this
[ ] 4559 Cargo Railway - used/complete sold 102.50 Douglas
T
[ ] 4559 Cargo Railway - used/complete sold 110.00 Brian U
[ ] 4536 Blue Hopper Car - used/complete sold 100.00 Scott Ja
[ ] 4551 Crocodile Engine - used/complete* sold 190.00 Derick B
That must say something about the 4559 - a complete train
with track and motor is apparently
worth the same as a single (admittedly very nice) waggon, and only
worth half as much as an engine. Well I knew the 4559 wasn't the
most popular train Lego ever made - I didn't think it was THAT
unpopular :)
Simon
http://www.SimonRobinson.com
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Message has 2 Replies:
 | | Re: The AucZilla 500 auction
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| Well, since I bought a pretty expensive new vehicle recently, I had only one set I really wanted (Well, OK, I wanted them all, but then reality sets in again! :) ) the 4031 fire boat, the one with the helicopter on it, it is the only boat I did not (...) (25 years ago, 9-Aug-99, to lugnet.market.theory)
| | | Re: The AucZilla 500 auction
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| (...) I had this happen to me also. It turned out the person bidding against me was new to auctioning and didn't understand proxy bidding. A gentle note to him prompted a proxy bid from him (which still didn't beat mine). (...) One reason I see: (...) (25 years ago, 9-Aug-99, to lugnet.market.theory)
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