Recently I was involved in an auction with "Standard 24/48 hour auction rules". I've looked around to see if I can find what those "standard rules" are, but all I can find is auctions stating those as the rules, not what those rules actually are. My understanding prior to those rules were that if there were only one bidder, that the auction bid were on a 24hr clock. Meaning that if there wasn't a lot of interest, the auction wouldn't drag on. If there were more than one bidder, the 48hr clock would apply, giving everyone more time if interested in the auction, also giving others a chance to get in on the auction. In my case, I thought since there were more than one bidder, it was a 48hr time limit. Hence I had up to 48hrs to make my next bid or not. It turned out that it was a 24hr clock and I bid some 40 minutes passed the 24hr mark and lost the auction. I realize its really up to the auctioneer to what their rules are, but when "standard rules" are stated, there should be clear stated rules to those "standards". I'm not sore about not winning the auction, just trying to understand what the "standards" are for future auctions. Thanks
ya the opposite 1 bid, it must stand for 48 hours multiple bids and then the last bid must stand for 24 hours seems like there's been a shift from typing it 48/24 to 24/48 for some reason that eludes me, but that could just be my imagination
Rules are set by the auctioneer. No one here really holds anyone to them other unless you are scamming someone. I mean look at @Baine thread that just ended. He clearly stated the rules, but changed them without fairly notifying the bidding members.
I also understand 48/24 as: 48 - 1 bidder (you give ample time for people to look at the auction and decide if they want to bid, while not making the single bidder wait forever) 24 - 2+ bidders (you do not let an auction drag on forever, but still give the people involved enough time to make their bids)
Perhaps we could do a poll to have people vote for what should be the standard, then have @Chris add whichever is determined to be the accepted standard rule to the forum rules thread. That would make it an officially designated standard. I always put "standard 24/48 rule" on my auctions just because I figured it was a well established thing.
I just figured that standardizing the most commonly used time frames would clear up a lot of disputes.
