Quote:
Originally Posted by seinbigd
Maybe I'm missing something but the best solution in my opinion is to let each lot independently close if no bid is received after 10 minutes.
|
As a buyer, I like the individual lot closing format. However, I believe that for the auction houses that use a closing for the entire auction at once there is logic behind it. If you have two whales competing at the end of the auction and one taps out, this closing format would give him an opportunity to bid on several more lots (assuming he put in an initial bid) whereas if they closed individually it would already be over.