I prefer when the seller lists their item with no price and writes, "taking offers."
Wait...wrong thread.
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By the time an auction enters extended bidding, I've usually narrowed my focus down to a handful of items. The lot-by-lot closing method is best for me. I have a method of tracking/bidding that is optimized for that auction format. While I typically win multiple lots, I can occasionally go "all in" on one item this way.