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Posted By: Matt

Of course the consignor wants the auction open later but there has to be a balance - the logical conclusion of this argument "If someone called you the next day who knew one of your consigned lots and told you he was planning to come back late in the evening and bid on it, but couldn't because it already shut, would you still be for that method of closing?" is to leave auctions open indefinitely. How would you feel as a consignor if someone told you that they were getting their stimulus check in 2 weeks and would use it to bid on your lot, but the auction was already closed? Reductio Ad Absurdum.

I think your new ending format balances the needs nicely and am looking forward to seeing how it goes. I also think that, as JimB pointed out, most people just get their bids in earlier with Mastro's format and that (with some small tweaks) could be an optimal balance as well.