Posted by WESnIL on June 08, 2020 at 16:43:36 from (206.221.154.175):
In Reply to: on line auctions posted by Charlie M on June 08, 2020 at 16:35:35:
Let' say the auction is scheduled to close at 6:00 pm. If there are no bids within the last 5 minutes of the scheduled closing the auction on that item is over and the high bidder wins the bid. However, if there is a bid within the last 5 scheduled minutes of the auction the bidding time is automatically extended another 5 minutes. This will continue until there are no bids in the last 5 minutes. Essentially it gives a potential buyer 5 minutes whether to bid again vs. an onsite auction where the auctioneer may give a potential bidder 15 seconds.
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