Interesting question whether starting the extended bidding earlier (say noon) would make a difference. I think people know REA will let it go to 3am-4am and bid accordingly. As best as I could tell, bids were still coming in around every 2 minutes or so when they closed it, but with all the callbacks over I guess Rob decided it was time for it to end.
REA to me, despite the torture of having to stay up so late, is as good an example as any of the advantages of closing all lots at the same time. Over the years I have bid in that auction, what I ended up winning was materially different (and much more to my liking) than what I would have ended up with if lots closed individually. I, like any collector with limited financial resources, prioritize the lots I have interest in. Only when I know the lot that is my first choice has become too expensive will I try to win a less important lot. Or, from the flip perspective, if a less important lot were to close first, by trying to win it I risk not having enough left to give it my best shot to win my first choice.
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