Quote:
Originally Posted by doug.goodman
3 - Any lot that goes one hour without a bid closes.
3a - When the entire auction goes 10 minutes without a bid the entire auction closes.
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I like your ideas, but see 3a as possibly problematic. Bidders (maybe many bidders) who are trying to outlast their competition might wait 50 minutes before increasing their bids, but suddenly, surprise!, the entire auction ends.
I much prefer the simple Heritage rules - if you're bidding on some lots, you have a 30 minute rule on each one. Battle it out within a reasonable timeframe, know if you've won or lost each lot, and get to bed at a decent hour.
I always place my initial bids on all the lots I'm at all interested in on the first or second day, when the amount necessary to bid is much less than what the lots will sell for. That way I can be active on everything I care about in extended bidding, as some of the lots will exceed what I'd want to pay, allowing me to re-focus on the others. And if any of those low initial bids hold up, great, I've gotten a steal.
I also love the Hunt live auctions. For exciting bidding, nothing comes close, and I think the adrenaline, heat of the moment results in high hammers, when that FAIR WARNING message starts flashing.