[Snapolit1]

I guess from the point of view of the AH the "let's keep it going all night" routine is to maximize profits with the belief that if I am outbid on the item A at 4 am I might just move on, with that cash freed up, raise my bids on items B and C. I guess that's the logic. But conversely if I really want item A and am afraid it will close earlier I might come in with a much high maximum bid or bid more often at a reasonable hour to protect myself as much as I can.

I suspect that when most people lose items at 4 and 5 am they are fast asleep and aren't doing much of anything besides sleeping. Maybe not true for the top line rarities.

I would have gone high on that cool Ruth exhibit card than I did but wasn't conscious when people starting pushing their chips in towards the middle of the table.