The only difference (I think) between what you're saying and what I'm thinking is under your rules if I am winning a lot at 4pm when the auction goes into extended bidding, or become the high bidder just after 4pm on any lot, I don't have to do anything further until midnight and would be eligible to bid on all of the lots I qualified for.
My thinking is you have to maintain a high bid within the extended bidding process. You can't go dormant with no high bid for hours and hours and sneak in at the end. You could set the window for example at 1 hour. Once extended bidding has begun you can not go more than 1 hour without being the high bidder on one of your qualifying lots or you will be disqualified from bidding.
This would encourage active bidding. Does it make sense?
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