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Timed Auction : When Do The Sale of Lots End ? Why Is There Time Extension?


Last Updated - 6 months ago

You will notice that a countdown clock is displayed below the lot’s description in a timed auction.  

Whenever there is a bidding activity on a particular lot during the final 60 seconds before the allocated end time, there will be a 3 minutes extension on that lot. The extensions will continue indefinitely until there remains a single bidder or there is no more bidding activity on the lot during the last period of 3 minutes implying that there is no further interest.

The extra time is to accommodate interested bidders and allow them the time to compete for a lot until their maximum bid has been reached. This is also designed to avoid any last-minute rush where bidders log onto best2bid at the end of the online-only sale in an effort to leave a single winning bid seconds before the sale's closing time (called “sniping”).  

The lot bidding extensions are designed to avoid this sniping exercise and to achieve the best possible results in best2bid’s online sales. This is to make the bidding process as fair and manageable as possible for all bidders and sellers.  

Please note that the extension of one lot’s closing time does not affect other lots’ closing times.

Documentation:
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