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#1
01-25-2008, 09:18 AM
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New Idea for Ending Auctions Earlier
Posted By: Rob Dewolf
I've never understood why bidders in a phone or Internet auction feel they should be allowed to go back and bid Lot A, which has been closed, if they get outbid on Lot B. You don't have this luxury in a live auction, so why would a buyer feel he should be able to in a phone auction? I can understand why auction houses want to make this avenue available because they're out to make the most money they can -- especially in this sure-to-be-headed-for-a-recession economy -- and keeping lots open for as long as possible only benefits them. But how bidders have come to feel this is a right in an auction format is lost on me. 
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