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Posted By: Matt

Would it be inappropriate to suggest that the whole 'auction clock resets with a new 15 minutes' might just be a cover story with some auction houses and, in fact, periods go by where no bids are placed for well over 15 minutes but the house just ends the auction later when it feels like it has squeezed out every last drop? It seems inconceivable to me that a house would indeed end the entire auction at, say, 10:15 PM if, in fact, no bids were placed from 10-10:15 when they know that everyone is expecting the thing to stay open for several more hours.

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