Why do the call what they are doing live “auctions”?

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Lisapisa
Posts: 14
Joined: 9 months ago

Why do the call what they are doing live “auctions”?

Post by Lisapisa » 4 months ago

Just curious as to why the live air hosts say they are auctions when they are just showing and sales. This is not an auction. “Next auction is coming up”, “This auction is better than the smack down price”, “We are a falling auction format”.
What? Nope, not an auction.
Can someone please explain. I am genuinely curious why they call live sales an auction. TIA!
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Tothemoon
Posts: 182
Joined: 2 years ago

Re: Why do the call what they are doing live “auctions”?

Post by Tothemoon » 4 months ago

Working in the stock market for many years, I handled a lot of “Dutch auctions” where companies allowed shareholders to sell shares back to the company at a price the shareholders were willing to accept. A definition that I found on the Internet is:

“A Dutch auction is one of several similar types of auctions for buying or selling goods. Most commonly, it means an auction in which the auctioneer begins with a high asking price in the case of selling, and lowers it until some participant accepts the price, or it reaches a predetermined reserve price.”

Another definition is:

“The Dutch auction is like an English auction, except that prices start high and are successively dropped until a bidder accepts the going price, and the auction ends. The Dutch auction is so-named because it is used to sell cut flowers in Holland, in the enormous flower auctions.”

I believe this type of auction is popular around the globe and assume this is why SLC calls their sales “auctions”.
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Spooky
Posts: 544
Joined: 2 years ago

Re: Why do the call what they are doing live “auctions”?

Post by Spooky » 4 months ago

Thanks @Tothemoon
Their format never made sense to me. I
appreciate your efforts to clear this up 💖
11 x

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Gem Lover
Posts: 2091
Joined: 2 years ago

Re: Why do the call what they are doing live “auctions”?

Post by Gem Lover » 4 months ago

I do not get it either and I do not find it fun or exciting. I wish the would just give the actual price right away. If you are not bidding what you are willing to pay like the $1 auctions then I do not look at it as an auction. I just look at what they call an auction as playing games with us.
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Summer71
Posts: 129
Joined: 1 year ago

Re: Why do the call what they are doing live “auctions”?

Post by Summer71 » 4 months ago

Gem Lover wrote:
4 months ago
I do not get it either and I do not find it fun or exciting. I wish the would just give the actual price right away. If you are not bidding what you are willing to pay like the $1 auctions then I do not look at it as an auction. I just look at what they call an auction as playing games with us.
Gem Lover you are absolutely right. Why can’t they just tell the actual price they want to sell an item for in the first place and be done with it. Its always hard to know how low they will take the price down and if one’s budget will allow it. I can’t stay glued to the tv for that. I find this entire format absurd.
Last edited by Summer71 4 months ago, edited 1 time in total.
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Lulu
Posts: 457
Joined: 2 years ago

Re: Why do the call what they are doing live “auctions”?

Post by Lulu » 4 months ago

Gem Lover wrote:
4 months ago
I do not get it either and I do not find it fun or exciting. I wish the would just give the actual price right away. If you are not bidding what you are willing to pay like the $1 auctions then I do not look at it as an auction. I just look at what they call an auction as playing games with us.
The old "if we get x more people on the line we can lower the price". Who in their right mind is going to commit to buying an item when they don't know what the final price will be? Talk about buying a pig in a poke.
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Amy
Posts: 725
Joined: 2 years ago

Re: Why do the call what they are doing live “auctions”?

Post by Amy » 4 months ago

Hello lulu and all: I agree with you 100%. By the time the final price appears my size or color is sold out. Once again, no sales here.
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CaribbeanGirl
Posts: 22
Joined: 7 months ago

Re: Why do the call what they are doing live “auctions”?

Post by CaribbeanGirl » 4 months ago

AMEN!!!!! I so agree, when I first started watching I could not figure it out. It is very silly. They are always doing silly little things to get people to buy items, like this week the President sale. Why does every day need to have a title. I have also noticed that Tony seems to get angrier every night that his pieces do not sell out. One more thing has any one else noticed the shinny faces of some of the hosts lately? On Wed. or Thur. I forget when it was Jessicas face all around her eyes & down to the bottom of her cheeks were shinning like a spot light. What are they putting on their faces. Boy, do I MISS Karen. They lost the life of Shop LC. Maybe they will find another one?
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