Quote:
Originally Posted by Mark17
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.
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Part of the "outlasting the competition" logic involves the west vs east late night closing, which goes away with my system.
Also, nobody will wait 50 minutes to increase their bid if the auction might end sooner, the key to late bids in "entire auction closes after X minutes with no bids" auctions is watching the recent bids in the auction. If there hasn't been a bid on anything in 9 minutes then you better bid on the item you want that you aren't winning.