If you thought REAs catalog was massive.......

[Stonepony]

Originally Posted by tedzan

Dave

Here is the final bidding procedure in this recent Heritage auction......

" Auction Name: Sunday Internet Sports Collectibles Auction #151517
Auction Type Sunday Internet Sports:
These auctions are presented only online and bidding is only taken through our website. There are two phases of bidding during this type of auction:
1) Normal bidding: Bids are taken up until 10 PM CT the night the auction closes. 2) 5 Minute Ending: On a lot-by-lot basis, starting at 10:00 PM CT,
any person who has bid on the lot previously may continue to bid on that lot until there are no more bids for 5 minutes. For example, if you bid on a
lot during Normal Bidding, you could participate during Extended Bidding for that lot, but not on lots you did not bid on previously. If a bid was placed
at 10:03, the new end time for that lot would become 10:08. If no other bids were placed before 10:08, the lot would close. If you are the high bidder
on a lot, changing your bid will not extend the bidding during the 5 Minute Ending phase (only a bid from another bidder will extend bidding). If you
are the only bidder at 10 PM, you will automatically win the lot at 10:05. Important: After normal bidding ends, you must be signed-on to the Heritage
site to see the bidding option on lots where you qualify for extended bidding. "


And, that's how it worked this past Sunday evening. For example....the first lot I won had the last bid posted at 10:02 CT.

Precisely at 10:07 CT bidding was no longer possible on this lot. IT WAS DONE, I WON.


So, I'm not sure where you got your info regarding "30 minutes" ?



TED Z
.

Sorry Ted, I was referring to the current Catalog auction under discussion. According to their website each lot will close individually if no further bids for 30 minutes.