Quote:
Originally Posted by oldjudge
Hi David! What you are proposing solves only half of the problem, and the easier half at that. What happens when the aggregate bidder exceeds the individual bidders? At some point all of them will be closed out with no way to bid with the aggregate lot now ahead. How do you allocate this differential back to the individual lots if more than one bidder wants to continue? The system is flawed on an individual lot closing basis. I think the only way to handle this type of bidding is under a format where the full auction closes at once and where bidders can raise their own bids. You need a Memory Lane/ REA type auction for this to work. On a HA individual lot closing format I don't think it works. I also don't think it works on the LOTG format unless all the lots involved go into extended bidding.
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Jay I think the way it would work is the aggregate lot remains open until all the individual lots are closed.the individual bidders really bid independent of the aggregate lot but there is at least a link that shows if the bidder is high bidder in the lot and if the individual lots are outbidding the aggregate. Then it is clear to everyone what they really are or are not winning. This way the aggregate bidder always a chance to top the bid and then presumably a remaining bidder on an individual lot go go back and up their bid if desired. Then it becomes the back and forth that makes auctions last until 4am