Bitcoin Forum

Hi folks,

I'm curious to know what the general preference is regarding Auctions lengths,

Short Auctions: 48 hours

- Creates greater interest and engagement in the forum
- Greater turnover of products and innovation
- excitement
- Higher vigilance of buyers

Long Auctions: Up to 5 Days

- Greater and more prolonged exposure to the post
- An opportunity for many forum members to be exposed for sale, active/inactive

I would be happy if you share your opinion on the subject  ;D

 
QB

Short. I never bid the long ones. BTC could 10x waiting :P

Or the opposite in your favor :)

If btc 10x he can't retract his bid. The opposite wouldn't be in his favor as others will have time to outbid him if btc goes lower.

I like 5 days... gives people who do not frequent the forum time to see everything if they only log in every couple days.

Logical thinking, but don't you think that if those forum members who log in once in a while lose several auctions, it won't make them more active to avoid missing out?

Long auctions.  And anyone who isn't a whale can wait until the last day to bid to avoid big swings in BTC price.

I also believe that the right time for an auction is at least 5 days.
it is not said that all interested parties access the forum and notice that specific auction.
on average, about 15-25 posts are created/upped per day in this section...if an auction lasts 48 hours and there are no bids, it is practically not seen...


I think that users are unable to be active also due to the various commitments of everyday-life and the need to "prioritize" the various activities like family work etc

Short is exciting and fun. As a seller I would most of the time use a longer duration, though.
There are quite a few real collectors that log on maybe once a week (I myself had phases like this) and having an auction that misses over 50% of folks that could be interested in buying is not beneficial.

I can relate to it. It makes a lot of sense, especially when you have kids and a full-time job. 24 hours a day isn't enough, apparently :D

as a potential buyer, i love shorter auctions.  I think they are just more exciting, not as long to wait to see results.  it also greatly encourages impulse buys...  (not necessarily good for the buyer, but usually great for seller)

If i was a seller, i'd probably select the longer so more people can see it.  but then i would have to bump it and promote it... so maybe not...

I like the longer auctions.... Some days I get rather busy at work and don't check the forum regularly and then after work, the last thing I want to stare at is a computer, so I skip some days.   5 days gives me the best chance of seeing the auction and then I can plan accordingly.

Short. With the long auctions (most of the time), all the bidding happens at the very end of auction anyway. Cut out all the dead time waiting on the end result. My other reason is a bit more selfish… I work offshore so when some auctions go long or last days and days I end up missing them bc I get called offshore where I have zero service. That reall sucks when that happens

I agree that usually except the last day it's kind of "dead" time. However many people will plainly miss an otherwise interesting auction for them, if it's 24h or 48h only.

I would also vote for longer auctions but not longer than 7 days.

It would also depend on the product, some products would benefit from the longer
time span but there are others which would only need 3 days!

More people on the Collectibles board means more activity, but yea we have no
control over that. Technically I recon more people means possibly less auction time
needed and vice a versa

My personal preference is 3-5 days as a seller. As I buyer , it’s hard to say.
I’ve certainly seen a few changes on the forum over the last 2 yrs ish - there’s definitely a tendency for shorter auctions recently. Not sure if this is a good or bad thing . Maybe set up a poll ?
Very interesting thread and thanks for bringing it up  :)
Edit - tricky thing too is the end time of auctions. What’s the most convenient time for all the prospective buyers to be available. Maybe there could be a concensus  ???

The US and EU seem to be where the majority of active bidders/collectors are at this time..... so I have found that mid afternoon /early evening US time is usually the best.
This allows many US bidders to be off of work/home and this also allows most EU bidders to not have to stay up too late with a 5 to 8 hour time difference.

I’m personally a fan of longer auctions. There’s a lot of potential buyers on here who don’t view the forum but maybe once every week or two, and I feel like you’re setting yourself up for a bit less or a return if you’re not running them for a full week. Of course you can run shorter ones that do every bit as well, but I feel like you get a better shot with a full week.

as a seller myself i prefer 5-7 days auctions that end on saturday (just before midnight in eu) ... so the american friends can also bid at the end ... and since most people are at home on saturdays and do not have to work i find this time the best :)

Interesting. I tend to go for an auction that ends on a Sunday for this very reason.

as said, sunday is also a very good option. the main thing is that the interested parties/users are at home and can bid with ... the more the better ;)

Both ways are good for me, since I tend to setup the alarms for end of auction and start bidding with few mins remaining... ;D ;D ;D

Haha well, tickers - alarms - autorefresh FTW!

I prefer short but if you do a long one, please bump the post so I remember to bid

Just use "notify" for your interests then put any x.000b on your fav item and it will pop up in your email :) and of course set a timer.