Last Call for Bids

1/02/2017

All auctions are set to close at a certain time.

If a winning bid is placed within the last 5 minutes of the set closing time, the closing time will be extended automatically by a further 5 minutes.

If a bid is placed within 1 minute of closing time, and that bid is immediately beaten by another bidder's proxy bid, the auction will be extended for 1 minute to give you a chance to rebid.

This likens the Auction to live auction where the bidding only ends when everyone is certain they do not want to place a further bid. It also stops the winning bidder “sniping” a bid 1 second before the end of an auction.

How it works:

  • Auction closes at 7.30:00 PM
  • The bidding is at $90A bid is placed at $100 at 7:29:10 PM
  • The new close time for the auction is set at 7:35:00 PM
  • At 7.30:00 the last call comes again.
  • If there is a winning bid placed between 7:30:00 PM and 7:35:00 PM the new close will be 7:40:00 PM.

Example of a 1 min Extension for bids that got beaten by proxy:

  • Auction closes at 7.30:00 PMThe bidding is at $90
  • A bid is placed at $100 at 7:29:30 PM, but get beaten by a proxy bid.
  • The bidding is at $105
  • The new close time for the auction is set at 7.30:30 PM
  • If there is a winning bid placed between 7:29:30 PM and 7:30:30 PM the new close will be 7:35:30 PM.