Posted By:
Mark SteinbergI think Matt is really on to something....
I absolutely hate the concept of lots closing individually, as bidders cannot go back to their 2nd, 3rd or 4th choices (after the 1st choice has been outbid beyond reach).
Many many times, I have wanted to bid on a piece that has already closed. When you have a "fixed" amount to spend, you can't possibly know in advance which lots will go out of reach in the end.
But if they would shorten the extended bidding period to 5 or 10 minutes (instead of 30) it would have to result in a shorter auction. They could also make the initial closing happen earlier- say at 6:00 pm, instead of 9 or 10 o'clock.