Quote:
Originally Posted by sox1903wschamp
And I am not sure the auction would close sooner and could have the potential to go way past 3 or 4am if just one lot is vastly underbidded at 10pm and the bidders "slow play" the lot through 25-30 bids after 10pm.
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Mike - I don't think that could happen - even if two competing bidders colluded beforehand to do that, what would stop someone else from coming in and becoming high bidder (especially if the lot was that undervalued)? (
If that happened then only the underbidder could counter and the other fellow would be done.)
Actually I'd bet things wrapped up quickly with this method. To start with the pool of active bidders would only be those who were outbid in the last 20 minutes of the auction and it would dwindle from there as those people decided not to up their bids nor bid on other lots.