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Posted By: Matt

Barry - exactly.

I contend that the reason people wait until then and don't bid earlier is because there is an unwritten guarantee (based on previous year's closing) that the auction won't end until sometime between 3 and 4 AM. If there would be a way to switch that "contract" to be between 1 and 2 AM then I'm certain all the action would take place sooner and we'd all get more sleep.