Posted By:
Eric BrehmI was interested in five or six lots in the Goodwin auction and the 30-minute rule for each lot worked okay for me. If I had been bidding on twenty lots though I might have felt a bit pressed to track all the individual lot clocks simultaneously, and to figure out how to re-allocate my resources when certain lots went out of my price range; in that situation I probably would prefer for the clock to be re-set for the whole auction each time a bid is placed.
I did notice that many of the lots I bid on or won sold for quite a bit less than 'book' value; Barry you may well be right that some money was left on the table. However I have no way of knowing how much the individual lot closings and the short extended bidding period actually affected the final sales prices.