Poll on Auction Closings

[Exhibitman]

Great idea, Jim. Too easy, though.

I like Heritage's practice of closing auctions one item at a time rather than extending everything because one item gets another bid. I think it might actually help sellers in the long term because it allows a buyer with a budget to bid more on remaining items as items he is otherwise in on close out. I know if I get shut out on my earlier closing bids I am more likely to bite the bullet and make that last ditch bid on something that is still alive.

I do think that the rule requiring an initial bid before the extended time is a good one simply to prevent all action from becoming something akin to Ebay snipes.

I also like the capability to make a max bid like in a live auction, i.e., a bid far above the next increment. If someone wants to throw down on a lot, they should be able to do it with one shot.