Posted By:
Matt"And if you are willing to bid $3250 and someone else is willing to bid $3250, then someone's going to have to go higher."
No - if we're both maxed at $3250 then whoever gets there first wins.
To word it otherwise, in the scenario I outlined, you want to give as much time as possible for someone else to bid $3000 so you can get the $3250 slot, but if no one does, you put in the $3000 bid as late as possible to avoid being outbid and losing the lot.
It really doesn't take until 4 AM for everyone to do what they need; it's just that we're all waiting around knowing there's more time since there was more time last year.