Posted By:
MattI don't see why it wouldn't be practical. I think the 10% think is a vestige of auctions run before the internet - when receiving hundreds of tiny raises would result in a paperwork mess.
The 10% system has another serious flaw, which hasn't been mentioned yet. Certain items have pretty much a set value - take a PSA 3 '33 Goudey Ruth as an example. In a 10% auction, there is only 1 bidding slot close to that value, so whoever hits that first is going to take the lot since no one is going to be willing to overpay by $100-$200 just to get a card that they can easily procure elsewhere. If you allowed 1-2% increments then several people would have a shot at the win and someone probably would be willing to overpay say $30 to get the card.