Quote:
Originally Posted by doug.goodman
In an auction with a moving end time, the logical bid is the next increment at the next possible second. You have to outlast the competition.
Doug
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What is your strategy for an auction that extends bidding on all lots until 15 minutes has passed without any bids?
In one auction, I acted as you described and somewhere past 3 AM before the 15 minutes was up, the auction ended abruptly. I was waiting until the last possible moment to up my bid. The auction house (rightfully so) stated they could end the auction at any time. I understand keeping all of the lots open into extended bidding produces the most revenue, but I'm definitely with the group of guys that thinks each lot should close individually.