I like the idea in general.
I've seen lots of Facebook pages for other collectibles that have an interesting auction format.
The auction ends 24hrs after the last bid instead of at a set time where sniping and confusion over times zones, end time, etc can complicate things.
So everyone gets a chance to bid at their pace and the sniping is eliminated allowing for more back and forth.
Just an idea.
I like the minimum value requirement so it doesn't get overcrowded.
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