Posted By:
barrysloateCorey- that's an excellent point, and I suppose Steve will have to address it. But in theory, that guy you may be bidding against might be equally reluctant to wait until 1:30 AM (why would he want to pay the penalty) so he is likely to bid earlier.
Of course, one obvious problem is everyone will try to get their bids in at around 1:29 AM which would give them a huge edge over their competition.