Quote:
Originally Posted by barrysloate
Somebody needs to come up with a system that forces bidders to place bids early. It isn't as if it takes until 6:00 AM for all the bids to be placed and processed, it's really that bidders feel no pressure to bid before the wee hours of the morning. And they do wait. Instead of placing their bids early, they try to wait until the last possible minute, hoping to catch a competitor sleeping, or to get a last bid in before the auction finally closes.
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I don't think a lot of sniping occurs that is based on 1 person's knowledge and the lack of others, so I have a hard time understanding why the wait, other than when your limit is reached on a specific item you want to spread your money elsewhere. So what's the problem if that limit is reached sooner? Earlier bidding is better for the AH and consignor.
How about a BP discount/penalty? Up to the last day of the auction, the BP is the AH standard BP. The last day of the auction, BP+. When it gets into extended bidding, BP++. Determining exact amounts is left as an exercise for the student.
(another non-perfect solution)