REA is open

[benjulmag]

Originally Posted by CuriousGeorge

But Corey, you could have just as easily gotten outbid with 15 seconds to go before all of the lots ended and you would have gotten nothing. It just happened to be in your case that you were outbid with plenty of time to place other bids.

Steve, I got outbid at 3:45 in the morning. For all I know the other six lots I had qualifying bids in on had been inactive since 10 PM (and if so would have closed). When I got outbid that last time, by the method I described (the ENTIRE auction remains open until NO lot has received a bid for 60 seconds), I would have had 60 seconds to regroup and place bids on these other six lots. With the bidding interval remaining at 60 seconds, I would always have that time to decide what to do. If all this starts playing out at, say, 11 pm (when the interval reduces to 60 seconds), all bidders will be at their computers/devices and constantly monitoring what is happening. I suspect 95% of the lots by that 11 pm hour will have reached their limit, so for the 5% left and the interval only 60 seconds, I bet the remaining active lots are all over within minutes.