Quote:
Originally Posted by Malibu39
First time I have bid in REA auction, actually any auction than a couple on eBay and might be my last. Someone how I was out bid for an item four hours after the auction ended, or sorta ended. I just don't have 7 hours to spend refreshing a screen every 10 minutes to see if two people bidding on an item no one else care about are done so the rest of the items close.
Is this how all Sports card auctions are run or?
I'll get off my soapbox now  |
Extended bidding starts at 6pm which locks out anybody who doesn't have a placeholder bid on that lot. Every lot remains open to bidding between 6pm and midnight. At midnight a 10 minute clock starts on a lot-by-lot basis. If there are no higher bids in that 10 minute period you win the lot. Some auction houses forego the 6 hour time period between extended bidding and the lot by lot clock starts right away which is preferable to bidders. In the case of REA the true bidding action doesn't start until midnight.