Posted By:
Corey R. ShanusNo real right or wrong to this question and one's answer probably depends in large measure on what perspective one is viewing it from and the resources at his/her disposal. If there are only a few lots I care to bid on and my bids on each are independent on how I fare on the others, then I would prefer the individual closing lot method as most likely it would allow me to get to bed earlier. However, if there are multiple lots I am interested in and how much I bid on any particular one is dependent on whether I win another (and at what price), then the simultaneous closing method would get my vote. Sure I may stay up later, but I guess that is a price I am willing to pay to build my collection. In the case of REA, over the past several years, there have been instances where I have been outbid on my highest priority lots, which then induced me to bid on other lots (which are now valuable parts of my collection). Had Rob's auctions been conducted on the individual lot closing method, then quite possibly I would not have these items in my collection.