Can someone explain the 10-minute rule to me

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Posted By: warshawlaw

I must be missing something because I cannot figure it out.

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Posted By: leon

I truly think it's as easy as each lot closes after there is no bid on it for 10 minutes from the auction deadline for new bids. At least that's the way I understand it/them.....regards

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Posted By: pete

if there is a deadline, why allow someone to come back and bid within 10 mins...gunbroker.com does 15mins...it took me an additional hour and a half and i still didnt win the damn thing, they should call it 'approximate deadline'

pete-

my best pitch was the one that made it to the plate!

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Posted By: DJ

Rules I found on the web-

If an item is to end at 11pm est - the 10 minute ticker starts at 10:50pm. If there are no bids between 10:50 - 11pm, the item will end at 11pm.

If there is a bid placed between 10:51- 11:00 - that item will be extended another ten minutes plus the amount of time that was left. So if there was 5 mins left when a bid is placed it will extended to 15 min. Once it clicks down to 10 mins again this process will continue as long as bids are placed within the 10 min or less time period.

DJ

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Posted By: Charlie O'Neal

If an auctions ends at 8 p.m. you will probably still be up at 2 a.m. trying to win the damn thing.

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Posted By: Hal Lewis

The "Ten Minute" Rule is best explained as follows:

If you want to win an item in a large auction... you will end up getting only "Ten Minutes" of sleep that night.

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Posted By: barrysloate

Good one Hal. When Mastro still had the old system I would get a normal night's sleep, get up early the next morning and start bidding. It was the best of both world's- I didn't lose any sleep and still got to bid at the end. Of course, I still hardly ever won anything, but that's another story.

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Posted By: Julie Vognar

that SOME ten minute rules apply to the one item, and others apply to the WHOLE AUCTION. Some auctions stay open until NOTHING has been bid on for 10 minutes, and some close, ah, like stars winking out, one item at a time.

And there's usually a glitch in which regular bidding is extended by half an hour, the whole auction site goes on the fritz, or...people forget how to sleep.