But, Michael, if it closes at 10:11 p.m., does that mean that a bid with a time stamp of 10:11 p.m. is valid? If it does, then the auction really doesn't close at 10:11. It would be closing at 10:12. That's the point Matt -- correct me if I'm wrong, Matt -- and I are making.
A "five-minute" rule, while having some positive attributes, doesn't really address the original potential problem that was brought to light.
Edited to add that it all goes back to Leon's suggestion that the seller merely needs to say what the latest time stamp on a bid is acceptable. Much simpler and it solves the problem that was raised.
Last edited by Rob D.; 06-23-2009 at 07:28 PM.
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