What would be your preferred ending template (I say template because I am sure the bid interval time, starting time, and penalties could be modified to any already used format) for Auction Houses?
I know the AH I listed aren't the only ones that do their style of closing, but it was to give an idea by looking at their rules.
Baggers closing rules:
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All lots will be open for bidding through 10:30PM EST (7:30PM PDT) even if you have not bid on the lot prior to that time. THERE IS NO EXTENDED BIDING PERIOD. At 10:30 PM EST, LOTS WILL END ON A STAGGERED BASIS EVERY 30 SECONDS starting with Lot #1 and continuing in Lot Number Order. All end times are firm end times.
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B-L closing rules:
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The auction will go into extended bidding on a lot by lot INDIVIDUAL LOT basis Saturday October 11th at 11:00 p.m. EST. , each lot will close at 11:30 p.m. EST if no further bids are received. As long as bids are received on an individual lot before each 30 minute extension expires that lot will stay open for further bidding. You may use your Max bid feature to keep your position on the lot and/or keep it open until someone tops you. You MUST place a bid on each lot prior to 11:00 p.m. EST on Saturday October 11th to bid on that lot in extended bidding. Please note that if a lot receives no bids prior to the extended bidding, it will close and not be available to be opened in the extended bidding.
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REA closing rules (this seems to be the most common format with slight variances):
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The final day of bidding for all Lots is Saturday, October 18, 2014. Bids may be placed at any time prior to 9:00 PM EDT, October 18, 2014. The auction is scheduled to close at 9:00 PM EDT on October 18, 2014, HOWEVER, we will continue to accept bids after 9:00 PM EDT on all lots in the auction until approximately 15 minutes pass without either a phone or internet bid. IF YOU HAVE NOT BID ON AN ITEM BEFORE 9:00 PM, YOU CANNOT BID ON IT AFTER 9:00 PM. To ensure that everyone can get through to bid, we will remain open for bids until approximately fifteen minutes pass without a bid.
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