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Posted By: Jay

My sense is that ending an auction later does not increase realizations. If you simply announced that bidding would end at midnight EDT everyone who wanted to bid would get their bids in, all the battles would be fought, and everyone would get a good nights sleep, with the same results. EBay lots seem to realize top dollar and they have a fixed closing time. Auctions run all night because auctioneers think they can squeeze the last dollar out of each lot by doing that. Thank goodness that Mastro came up with a better mouse trap.