REA Clock?

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Posted By: Joann

Eric - No doubt about that. Whoever gets stuck with those last few bids is definitely out of luck. I guess it's one of those things where you weigh the good of the thousands of bidders and millions of dollars against more minor interests, even if the interest to that actual bidder is far from minor.

Jeff - I thought so. It will be neat to see how it works out. I'd bet $50 that within 3 years (6 cycles for Mastro and 3 for REA) one of the two has adopted the practice. It just makes too much sense. My money is on REA.

Matt - you're missing the point. I know others said they waited longer. I know they had reasons for doing it. I know that most would prefer not to have to. I get it. The point is that there was a clock. The point is that, with regard to the ability to know when a 1700-lot auction with a 15-minute rule would end, there was no difference in this one than most others. The point is that if there were a known, hard and earlier ending time there would be sniping and that is completely unworkable.

I also know that while I will continue to participate in this debate - because it is a hobby issue and I have been part of similar debates in the past - I will no longer go back and forth with you in particular on it. Why? Because one thing I do know is that getting into a "have the last word" thing with you means that I will be the one that is up until 4 a.m.! So go ahead. Since you will pick at it until you have the last word anyways might as well have it now at a reasonable hour.

Joann