Now how did this happen???

[lstmate]

If I remeber correctly the orginal end time on this duece was 5:00pm.... But as you can see someone was allowed to new bid on it at 5:02pm....

GL reps have said there is an investigation ongoing concerning final bids showing maybe this needs to be added to the investigation..... If I happend to be the person that had the bid prior to the 5:02pm new bid I would be upset... Glad it was not me, my blood pressure would not withstand that......


Below is a listing of all the bids that have been placed on this item to date. Please click the 'More' button to see more than the last 5 bids.

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Auction Summary
Auction Ends: 07/10/2008 06:03PM Eastern Time First Bid: $50.00
Time Left: 0 hours and 0 minutes Current Bid: $2,130.00 (per lot)
Next Winning Bid: $2,200.00


Current Bids Displaying 1 - 20 of 31
Bid Bidder Amount Status Bid Date (New York Time) Type
1. XXXXXXXX 2,130.00 High Bidder 07 / 10 / 2008 05:48 PM Closed New
2. XXXXXXXX 2,060.00 Outbid 07 / 10 / 2008 05:42 PM Closed Auto-bid
3. XXXXXXXX 1,990.00 Outbid 07 / 10 / 2008 05:42 PM Closed New
4. XXXXXXXX 1,920.00 Outbid 07 / 10 / 2008 05:05 PM Closed Auto-bid
5. XXXXXXXX 1,850.00 Outbid 07 / 10 / 2008 05:05 PM Closed New
6. XXXXXXXX 1,780.00 Outbid 07 / 10 / 2008 05:03 PM Closed New
7. XXXXXXXX 1,710.00 Outbid 07 / 10 / 2008 05:02 PM Closed Auto-bid
8. XXXXXXXX 1,640.00 Outbid 07 / 10 / 2008 05:02 PM Closed New
9. XXXXXXXX 1,570.00 Outbid 07 / 10 / 2008 03:57 PM Closed Auto-bid
10. XXXXXXXX 1,500.00 Outbid 07 / 10 / 2008 03:57 PM Closed Auto-bid
11. XXXXXXXX 1,490.00 Outbid 07 / 10 / 2008 03:57 PM Closed New
12. XXXXXXXX 1,420.00 Outbid 07 / 10 / 2008 09:53 AM Closed Auto-bid

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[M1075]

If I remeber correctly the orginal end time on this duece was 5:00pm....

I would investigate that statement first. Was it 6pm EST?

 

[dm22630]

Re: RE: Now how did this happen???

If I remeber correctly the orginal end time on this duece was 5:00pm....

I would investigate that statement first. Was it 6pm EST?

Sure looks like it.....last bid 5:48/closed 6:03

15 min from last bid....

I know that the last sale.....VA auctions ended @ 5pm & PA auctions ended @ 6pm

 

[lstmate]

How do you investigate this???

THey change the end time on the listing so there is not wayu to know. Everything that I see listed and that I remember at Drexel ends at 5:00pm

 

[dm22630]

Re: How do you investigate this???

THey change the end time on the listing so there is not wayu to know. Everything that I see listed and that I remember at Drexel ends at 5:00pm

Each sale that I have bid in says lots below # XXXXX end @ 5pm....and lots above # XXXXX end @ 6pm

Maybe that location entered the items after the allotted 5pm slots were filled.

OR

Maybe GL has found a new way to make a buck.

But....there were more bids in that last hour (which supposedly was past closing time), than in the 2 days preceding it. I dont think that you would have seen that many bids if it was showing up as closed.

Whenever an auction is "closed"....it doesnt show up on your watchlist, wether you are bidding on it or not. So, all those people would have had to have a window open on their computer and manually refreshed the page numerous times to see if they were winning.....IF the auction was truly closed at 5pm.

 

[1stDeuce]

Hey guys, unless I missed something, this is not unusual... The end time is only met if there has been no bidding activity in the last 15 minutes.

It's in the GL FAQ: http://www.govliquidation.com/help/details.html#q_25

So lots only close on their given time if nobody has bid in the last 15 minutes before close.

On another note, I see final prices are back on the main page, as well as current bid level. I hope you all remember to commend GL for getting this feature back!.

C

Oops, edit after first posting, I did miss something... I've seen some items listed as 5PM close moved to 6PM close the last day... I assumed it was time zone correction or somthing??

 

[dm22630]

Hey guys, unless I missed something, this is not unusual... The end time is only met if there has been no bidding activity in the last 15 minutes.

What he is saying is...

That if the auction was supposed to end at 5pm....then the last valid bid would have been @ 3:57pm. And the bid at 5:02pm should be invalid.

 

[beaubeau]

RE: Re: How do you investigate this???

Remember how the 15minute rule works. If I am right, when there is another bid after 5pm. time continues another 15 minutes. and on and on. ???Got to maximize the Income!!??

 

[lstmate]

RE: Re: How do you investigate this???

Yes that is what I am saying.... If the close time was 5:00pm it should have been closed and the 5:02pm bid should have been invalid. The correct winner would have been the 3:57pm bid.

 

[dm22630]

Re: RE: Re: How do you investigate this???

Remember how the 15minute rule works. If I am right, when there is another bid after 5pm. time continues another 15 minutes. and on and on. ???Got to maximize the Income!!??

I think it is a good rule for everyone. I really think it is a good rule if you actually want a specific truck/trailer/item.....because if GL conducted auctions like eBay....then I would have a LOT more trucks, for a LOT less money. It is really easy to bid $0.01 more than someone 5 seconds before the auction end.

The way GL does it makes it fair....and everyone gets an even chance at winning.

If you have ever been to a live auction....the auctioneer closes the bidding when the bidding stops.....not a specific time.

My....I am really in the talking mood tonight for some reason.....sorry for all the posts! haha

 

[beaubeau]

RE: Re: How do you investigate this???

From past experience, like today, I had a bid in at 455, and someone else bid after me. It brought the closing time to 5:10??? I the bid again at 5:05, and the closing time was moved up another 15 minutes. I did get 5 new item today. I don't like this rule, but Life is a Dog!! Phil

 

[KaiserM109]

RE: Re: How do you investigate this???

The "15 minute rule" says that bidding will be extended to 15 minutes after the last bid. I have seen bidding go more than an hour into overtime. That prevents someone from 'blind-siding' other bidders by counting down to the last few seconds and subbmitting a bid.

We weren't trying to be onery, but when bidding on an M109A3 at Ft. Riley went beyond reach, the guy I was coaching said that he would look at M109s in Norman, OK next week. I suggested that he look right then. We looked at that site which was already past the end time and there was still 1 good M109A3 in overtime. My buddy got his bid in 45 seconds before it closed. He and the other guy bid back and forth for a while. We are going down to Norman on the 18th to get the truck.

Another thing that can be confusing is if someone bids exactly the amount of the current bid holder's highest auto bid, the 2 bids will be reported backwards even though the auto bid holder will get the bid.

If you want to learn about bidding, go in early and bid low on lots of equipment that you are actually interested in. That gives you access to the bid list. Then watch the bid reporting; it is quite interesting.

 

[Blood_of_Tyrants]

Re: RE: Re: How do you investigate this???

Remember how the 15minute rule works. If I am right, when there is another bid after 5pm. time continues another 15 minutes. and on and on. ???Got to maximize the Income!!??

The bid only goes past 5 pm if someone bids less than 15 minutes from the end of the auction, i.e. if someone place a bid at 4:50 pm, the auction would be extended for until 5:05 p.m. This is as bad as the person who ran up the bids on nearly 20 trucks in Smyrna and then didn't pay for them. One truck he ran the bid up more than $1500 and didn't win it. If I was the person bidding against the jerk, I would demand my money back.

 

[Alredneck]

RE: Re: RE: Re: How do you investigate this???

Maybe 1500 is all he had and he was trying to get a truck, heck I use to want a 700 dollar deuce but when I got mine folks ran the numbers up past that but I had the money at the time at it was a reasonable amount so I kept bidding and won my truck. I know it pisses a bunch of us off cause it seems folks are just on there to run the prices up and my conspricary threory thinks they do do that to make more money but even at 1500 dollars, thats a good deal for most these trucks! Consider the prices at other places.

 

[beaubeau]

RE: Re: RE: Re: How do you investigate this???

Thats the way I bid, Blood of Tyrants! It is much easier to follow the auction. Plus U can tell if U R bidding against the same IND>, or someone new is bidding.

 

[littlebob]

RE: Re: RE: Re: How do you investigate this???

I've never bid on anything on GL yet, but have seen plenty of notices on the adds that say bidding time may be extended. I bought mine on GSA and if I rember
right they have a ten minute window after the last bid is made for someone to make another bid. Sounds like the same thing here. I took off early from work to make sure I could up my proxy bid at the last minute and won. My bid won after the close time
littlebob

 

[jimmcld]

I was watching this one. It went about 30 minutes overtime. Whoever was bidding against the high bidder didn't realize that he matched the high bid with his last bid. All he had to do was bid one more time and he would have won. However, sence he bid the identical amount of the high bidders top bid, the bid went to the first bidder of the duplicate amount. When he figures out what happened, he will be kicking his own a$$ for a while.

 

[EdMontana]

Re: RE: Re: How do you investigate this???

If I was the person bidding against the jerk, I would demand my money back.

Sad thing is, none of us will never know who was the jerk or if even had a jerk first place or just an intentional attempt to drive the prices up by bidding in many items by someone that have "no dog in the fight"...

I wonder why just recently we have those "Jerks" popping here and there.....the only thing I know for sure is...WE are paying MORE $$$ now them before.

Like those 4 A3's in OH...actually was the same "Jerk" bidding ID # 770106XX and he actually had bid in SEVEN A3's total the other 3 A3's in another location......that was a total over $100.000,00 for the seven trucks, NOW..c'mon, tell me that he paid GL a default fee of $20,000.00 and I will vote for Obama Bin!

I figured out a way to try to weed out the ""Jerks""....it need more time and work but pays off so you don't ended up paying more than you should once involved in a particular auction.
1- First set a price limit for yourself AND don't go over it...sometimes is hard, I know.

2-Low bid in a few auctions similar to the item you want at start so you will have access to the bidders list. Try to watch another auctions bidders list and if you see a guy bidding ID # in many different auctions.....this may be a "jerk" trying to bring the prices hi.

 

[CUCVFAN]

RE: Re: RE: Re: How do you investigate this???

I find some of this kind of comical. Personally, I'm not going to let any truck on GL go too cheap, if I have any interest in it whatsoever. I'd bid on 20 trucks at the end, if they were all what I felt were bargains. If I raised the price $500 each and didn't win any, so be it. They won't go for less than I am willing to spend. I'll drive the bid up on anything I think it would be worth having for that price.

The 15-minute rule maximizes GL revenue becuase it allows people to have 15 more minutes to convince themselves to bid a few dollars more, instead of sticking to a preset max. It's a different kind of bidding than eBay for sure, but no matter the bidding style, someone will always be unhappy with it.

If the truck is worth it to you, you'll win it. Period.

 

[EdMontana]

Re: RE: Re: RE: Re: How do you investigate this???

I find some of this kind of comical. Personally, I'm not going to let any truck on GL go too cheap, if I have any interest in it whatsoever. I'd bid on 20 trucks at the end, if they were all what I felt were bargains. If I raised the price $500 each and didn't win any, so be it. They won't go for less than I am willing to spend. I'll drive the bid up on anything I think it would be worth having for that price.
If the truck is worth it to you, you'll win it. Period.

Do you care to explain your first paragraph? I for one not laughing or see any humor in the above posts..... what is too cheap for you? are you just scrapping the trucks for steel?

I am sure you are not buying and paying more than what they worth for and if you actually WIN and PAY for your TWENTY trucks, than all you final bidding " at end" is worth and that's all what GL cares for.

So, how many trucks do you have by now?