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The auction begins closing 6:00 PM Eastern Time on Sunday when all bidding activity has stopped for 5 minutes. Again this simulates what may happen in a floor auction. The auctioneer signals the impending close of an auction, but does not bring the final hammer down until there are no more bids. This eliminates the problem of sniping often associated with Internet auctions. Beginning at 6:00 PM Sunday, the computer will check each item at 5 minute intervals. If there has been no bidding activity for the last 5 minutes the computer will close the bidding on that item. If there has been a bid in the past 5 minutes, that individual item will remain open, until there have been no bids received for 5 minutes. We strongly suggest that you simply enter your maximum bid early and let our Proxy system competitively enter your bids. This way you are relieved of closely monitoring the auction with the chance of losing the item. |
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