REA Clock?

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Posted By: Jeff Lichtman

I think Eric is ultimately right. As a bidder, I like Mastro's closing policy and as a consignor I'd like REA -- though I'm convinced that the 330 am closing cost them some bids because many people just give up. In fairness to REA, there were a few lots that I was high on at 2 am that after I was topped and I thought the price was too high, I ended up spending that same money (and more) on a different lot. So, at least in that instance, REA's method was best for the consignor. Maybe Rob starts extended bidding at 4 pm EST again next year and switches to a 10 minute clock at 11 pm, then a 5 minute clock at midnight? This way he gets the proliferation of bids late at night (just a bit earlier) and gets rabid bidders like me in bed before 4 am. This solution may be the best of both worlds.