Originally posted by Paddy
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This is how fking it was done for a long time and for a reason - if you want to drive the final sell price up, which is the job of the auction house, you need to create bidding frenzy, people should be outbidding each other during the course of auction, not last second that prevents the previous bidders from doing another bidding - to close the auction without giving them chance to bid again is deriliction of duty on behalf of auctioneer, in real world he'd be sued if he did not allow previous bidders a chance to outbid new bidder.
Sure there are auctions that work on the basis of sealed bids with time limit - this is different, we are talking about auction when bid values are known.
So, what I conclude here is that you are either intentionally trying to wind me up or you are just too stupid to understand the fundamentals about auction because all you think about how good it is to do cheap snipes, basically your judgement (not the word I'd use here but anyway) is biased in this case. Not suprising for a Putin lover really



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