I think Baggers auction does this format. Makes it pretty easy to know when to place your snipe bid before the lot closes.

I went back and forth on this very point when setting up my auction. I finally concluded that getting bidding activity moving earlier outweighed the benefits of possible new bids in extended bidding, if for no other reason then it makes consignors feel better (especially as a newer company) to see people bidding on their item before the end. I am constantly reviewing my early decisions as I learn more and more about the business and specifically my buyers and consignors, so someday this may change, but I still think it's best for my company at this time.