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While there is no set 1 minute time, this is how all live auctions work.
It would have been better for me to say that the 1 minute extension will add even more time to an already slow auction process. A fair number of stamp auctions nowadays, with exceptions, are slow and purposely so. No other auction type runs this slow, not even the multimillion dollar Sotheby's paintings auctions. Supposedly the non-speed is geared to the geezers in the audience but that's the buying audience in many other places. A certain stamp auction house can make what they predict to be a 2-3 hour session drag into 4-5 hours regularly. And since all staff have probably been working more than 7-8 hours already, this is where mistakes happen.
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In the past few months there has been a serious drop-off of buying better material on E-bay, not sure of the reason for this
They're still selling, but prices for the cheap stuff has recently dropped as well (I think) due to reduction in competition. My guess and guess only is that people have started to run out of disposable cash, credit cards or not. There will still be a big post-Thanksgiving shopping rush and Black Friday. But if we don't see it continue through Christmas, and only crowds in the last couple of day before, that's what will have happened. I hope that's not the case.
Posted 11/19/2022 10:55 pm
