A Little disappointed with Little John's Auctions

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mrcvs

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Phone bid, tried to place a bid on a Smith & Wesson revolver, at after 5 pm at their time. Auctioneer going so fast by then never even got a bid in. Was told the auctioneer never even looked up to acknowledge a bid, was sold very quickly.

If they don't want to be there that late, don't do so many lots in one day. It was beyond at least 6 hrs in. Not a revolver I had to have had but a decent or even very good price for what it is.
 
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An auctioneer 'rushing' an auction is doing a disservice to the owner of the goods by not realizing the the maximum amount that bidders are willing to pay. This is far from professional. It also lowers the amount of commission that the auctioneer makes on the sales, so they are shooting themselves in the foot too. Just sloppy work. This is what the dreaded 15 minute rule prevents.
 
We're not talking the equivalent of a 15 minute rule in a live auction. We're talking it opened and I was told where it was at and I was told it alreaft had closed, auctioneer never looked up. We are talking less than 5 seconds from opening to hammering. If not this short, well well under 10 seconds.
 
I'm guessing that the auctioneer already had an idea of just what he would get for the item. If he reached that in the first 10 seconds or so, he could choose to take the time to try to wring a few more dollars out of it, or he could just move on to the next items that may have had a better chance of raising more commission.

A fast hammer can garner more bids on later items when the bidders think they had better act fast or they might miss out like someone did earlier.....
Auctions are there to make money for the auction, not to make it comfortable for the bidders. If this is their strategy, so be it.
 
Well thumbs down to them. It opened and I asked where are we at? $600. Okay I was stating offer the next bid increment and was told it had closed. That quick. Couldn't even get a bid in. VERY unprofessional!
 
Live auctions (even on-line) have no 15 minute rule. That's why I use the "Max Bid" function on-line. I bid the max amount I want to, and every time someone else bids on that item my bid is automatically advanced by one increment above that bid. I seldom even watch the bidding. That way you don't get so involved in the bidding you spend way more than you want to. I don't get every item I bid on, but I do get my share. You have to stay up to date on values. Occasionally there is a "special" item and you can put your Max bid higher, or step in and bid on line.
 
deadin said:
Didn't anybody notice my sarcasm emoji's?? :rolleyes::rolleyes:
Click to expand...

Sorry, I can't find my emoji decoder.....
I did catch your drift. No insult was intended whatsoever!
Somewhere between the 15 min. rule and hammering down an auction prematurely lies the sweet spot.
Let's not forget that most auctioneers do the going-going-gone thing or equivalent, too. Honestly, that should be about enough at a live auction. Phone or Internet bidding at a live auction puts you at the mercy of technology or auction house staff. Things will, and do, go wrong.
Personally the on-line 15 min. rule seems a bit long to me, but it does seem to work. It certainly isn't eBay where things can increase five-fold in the last three seconds..... I also just enter my maximum and walk away to let the chips fall where they may.
Running an auction is not easy. It's a real balancing act with many angles and perspectives to consider. I worked for an auction house for years, and trying to meld Internet, telephone, and a live audience is a real joy. It can be done, but it's the same old story: You cannot make everybody happy all of the time.
 
H Richard said:
Live auctions (even on-line) have no 15 minute rule. That's why I use the "Max Bid" function on-line. I bid the max amount I want to, and every time someone else bids on that item my bid is automatically advanced by one increment above that bid. I seldom even watch the bidding. That way you don't get so involved in the bidding you spend way more than you want to. I don't get every item I bid on, but I do get my share. You have to stay up to date on values. Occasionally there is a "special" item and you can put your Max bid higher, or step in and bid on line.
Click to expand...

Correct and that auction you told me about earlier this year was the first time I had done a online live auction you really have to have your game face on to keep up with the bidding.
 
One "good" thing about a 15 minute rule is that if an auction you have bid on has triggered the extended period, it probably means that your original "max bid" has been exceeded. This gives you 15 minutes to decide if you really want to rebid or just go searching for another auction to bid on..;):D
 
My full and unbiased opinion on Little John's Auctions cannot be expressed on this forum.

My first wife, another milsurp collector buddy and myself all had issues with these clowns. They are on Proxibid, but how often they actually acknowledge the bids from that source is open to debate due to the speed of the auctioneer. It is probably no surprise that they are on my ignore list.
 
I've watched this happen at live auctions also. I won the bid once, as the hammer fell, atleast 3 hands were in the air. I felt I won the bid at half its value. The auctioneer paused to let everyone know he had to be finished by 5 o'clock and not to hesitate with bids. I won bids on 5 revolvers that day. I was told the owners family was present. I would not have been happy as a seller.
 
I called Little John's today to express my dismay.

The attendant said the auctioneer and owner often gets in a "funk" and goes way too fast and she has to remind him to slow down. In fact, my call ten minutes ago reminded her she needed to tell him to slow down. Apparently it's a common occurrence over there. She said even her friends bid on items and the bids are missed.

And how much in commissions are the missing out on?
 
jay73 said:
I've watched this happen at live auctions also. I won the bid once, as the hammer fell, atleast 3 hands were in the air. I felt I won the bid at half its value. The auctioneer paused to let everyone know he had to be finished by 5 o'clock and not to hesitate with bids. I won bids on 5 revolvers that day. I was told the owners family was present. I would not have been happy as a seller.
Click to expand...

Were I the seller there would have been a scene made and chances are the auctioneer would have been very early for his 5 o'clock appointment.
 
LVSTEVE, I know what you mean. There is one auction I attend where the auctioneer must have a list of "expected" values, and when he doesn't get up to what he wants, he just keeps up until it is evident he won't be getting any more bids. He also has poor on-line descriptions and fuzzy pictures. I usually only bid when I am there in person, (it's about 45 miles away).
 
H Richard said:
LVSTEVE, I know what you mean. There is one auction I attend where the auctioneer must have a list of "expected" values, and when he doesn't get up to what he wants, he just keeps up until it is evident he won't be getting any more bids. He also has poor on-line descriptions and fuzzy pictures. I usually only bid when I am there in person, (it's about 45 miles away).
Click to expand...

I got one of my most collectible milsurps by accident at an auction with poor pictures and descriptions that were vague or related to another gun entirely.
 
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