Leon- I probably am in the minority but I am also not a collector. I just look for values so I know my limits long before the close.
But I still maintain that with a different system exactly the same number of bids could be placed, with no harm to the bidder or consignor, and the auction could close earlier. Maybe there are many collectors who are willing to stay up until 4:00 AM, but I doubt many of them would complain if the auction ended on its own at an earlier hour. If you had all your limit bids in by 1:00 AM and then the auction closed, and you got the lots you wanted, what's the downside?
|