My first record auction.

[CMcPherson]

A local record store held an auction a couple of weeks ago.
I feel like I got some good stuff. Cab Calloway, Tommy Dorsey, Benny Goodman, Gene Krupa, Glenn Miller and Fats Waller.
I bid on 43 records and I was surprised to see that I only missed two bids!
I was even more surprised to see that all 41 of my records went for my max bid... either $5 or $10.

[gramophone-georg]

Chris, eBay is really the only outfit aside from my online multi seller venue that I am slowly tweaking that uses a "proxy bid" program- e.g., your bid is a maximum and other bidders nibble away at your maximum incrementally. In other words, on ebay if the opening bid is $2 and I am the only bidder, it ends at $2 no matter what my bid is. If I bid $100 and the others bid maximum bids of 450, I win at $51.00.

Most non eBay auctions are an actual bid... e.g., the minimum is $2 but you bid $5, you win at $5. Your bid isn't a maximum proxy bid, it's an absolute bid. "What you bid is what you get".

Make sense?

This is probably why eBay sparks "bidding wars"... or at least they used to before they micromanaged everything to death.

Actually, now that I'm thinking about it, I believe that shopgoodwill.com is a proxy bid setup too. This sort of auction really isn't to common though, and leads lots of bidders to believe- incorrectly- that they are being shilled when their "maximum" is always met elsewhere.

Oh, and congratulations. Sounds like you got some worthwhile loot!

[CMcPherson]

I participate in several online collectibles auctions and they all use the traditional "max-bid" system.
I guess now I know though.
One thing for sure, I'm happy with what I got and as always, I don't put up more than I can stand to lose.

Your box of cylinders and two retainer rings got to me today... thank you.!
Now I can get my XVI motor back together.

[gramophone-georg]

I participate in several online collectibles auctions and they all use the traditional "max-bid" system.
I guess now I know though.
One thing for sure, I'm happy with what I got and as always, I don't put up more than I can stand to lose.

Your box of cylinders and two retainer rings got to me today... thank you.!
Now I can get my XVI motor back together.

Get on it man... you've got records to play!