Quote:
Originally Posted by Vintage Vern
I would say they're timed in the sense of going going gone. You know the time is up.
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Live auctions have nothing to do with time. Going going... then I place a higher bid. Again, going going... you outbid me. And we could go back and forth for 10 minutes or more, to the auctioneer and consignor's delight.
In a live auction, and lot by lot closing online auctions, I ALWAYS have the chance to place another bid. With a timed close like ebay, I don't. Many times I've tried to get my snipe bid in and missed by a second or two, meaning, the clock denied me the chance, and the auctioneer and consignor missed out on some dough.