REA is open

[benjulmag]

Originally Posted by Peter_Spaeth

Different people give the exact same reason for disliking both methods. This is what I meant before -- there's just no consensus and no possibility of a consensus.

Why doesn't the method suggested in post #69 offer the best of both worlds? With a steadily declining time interval after which the entire auction closes, the auction would both end at a reasonable hour and at the same time give bidders the option to switch to other lots if outbid on another lot. Sniping would not exist, and a bidder would know that if he got outbid on a lot, it was because he/she made the conscious choice not to go higher.

To my knowledge, this method has not been tried and if the software, as Barry says, exists, why not give it a shot? The only down side I suppose is that it will force bidders to literally sit by their computers/devices at the very end. But at least by doing so they will have full control over what happens.