Quote:
Originally Posted by oldjudge
Personally, I like lots to close individually, but if the auction house wants to close all lots at one time, say that if not already closed the auction ends at 1 AM EDT. Personally, I don't think the format of the auction affects the final prices very much. It only affects the amount of sleep people get. Auctions end at 4AM or later because some bidders feel they can gain an advantage by bidding late. Take the advantage away and they will simply bid earlier.
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+1
Jay, agree right now these things run till Amish barn raising hours as part of folks strategy’s in the hope that bidders will have fallen off to sleep or rolled out of frustration. It’s sort of really a low tech snipe strategy with the person on the other end acting as the “last second computer” placing the bid in the wee hours.