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Re: How do you buy a Class M for $ 3900
Posted: Thu Jan 17, 2013 7:29 pm
by Raphael
Assuming the auctioneer was selling on consignment, and not the owner of the Class M, I have to feel sorry for the actual owner if a technical glitch caused the competing bids to fail to be registered. He trusted the auctioneer to realize a fair price and realized a pittance in return. Such is the hazard, among many, of auction consignments.
Re: How do you buy a Class M for $ 3900
Posted: Thu Jan 17, 2013 7:45 pm
by Bruce
Thank you everyone who added to my understanding of what I purchased.
As a new member of this forum put it earlier, everyone here is great and positive in their comments and advice. It is a pleasure to be part of great bunch of enthusiasts with a common love for old mechanical record players and the music from a bygone day.
Bruce
Re: How do you buy a Class M for $ 3900
Posted: Fri Jan 18, 2013 8:43 am
by FloridaClay
raphael wrote:Assuming the auctioneer was selling on consignment, and not the owner of the Class M, I have to feel sorry for the actual owner if a technical glitch caused the competing bids to fail to be registered. He trusted the auctioneer to realize a fair price and realized a pittance in return. Such is the hazard, among many, of auction consignments.
It would be interesting to know the full story. I wonder, for example, if the complaining bidder(s) might have been trying to snipe with last second bids on a site whose setup was not fast enough to allow for that, making their bids too late?
Not throwing rocks, as I confess to sniping on eBay now and then, but it can be risky if you are on an unfamiliar auction site where you are not certain how fast it records bids--especially one half a world away.
Clay
Re: How do you buy a Class M for $ 3900
Posted: Fri Jan 18, 2013 5:04 pm
by Raphael
Bruce stated that it was a live, on-line auction. I don't think sniping is (or was) an issue.
Re: How do you buy a Class M for $ 3900
Posted: Sat Jan 19, 2013 6:00 pm
by Bruce
Live Auctioneers is designed just like in house action bidding. As the price goes up the price changes on the screen with each bid and when you as an online bidder want to bid you click on the "bid" button. From there it is up to the magic of the internet and computer speed for your bid to be registered. As in house bidding the auctioneer waits for and tries to generate more bids - so I'm quite sure you can not snipe
Bidding on line opens up access to many auctions which those of us from afar can not participate in person but you have to be careful of shipping and taxes. I ended up adding 30 % to the cost of my new machine than if I was there to drive home with my prize.
Bruce