[Archive]

Posted By: andybecker

it's the way old auctions were run. if the phone didn't ring for ten minutes the auction ended....meaning all lots close at the same time.
on one occasion, i called lew lipset late to bid some lots and he told me that the phone hadn't rang for nine+ minutes. he took my bids, but he wasn't pleased....he wanted to go to sleep too.

i much prefer the new format of closing lots individually. imo, it's a lot more fair....your not staying up all night, and if there something two people really want....they are forced to bid vs. trying to outlast the other bidder.