I have been playing in an aussie auction site, its not really well known yet and doesnt really cater to the individual smaller purchaser much, but these are some of there features...
Typically, auctions end at the closing time posted. There are some exceptions to this, however. If there are any bids on a particular lot within 10 minutes of the auction closing time ("Going, Going, Gone!" period), it will be extended until there are no bids for 10 continuous minutes.
There is no limit to the number of times an online auction can be extended. This makes this auction work more like a live auction where the bidding does not stop as long as there is still interest in the product, rather than assigning an arbitrary cut-off time. To ensure that you do not get outbid make sure you monitor the auction until you have won the item or enter a bid that you think will win!
Bids placed at online auctions follow this order of precedence: bid price over bid quantity over initial bid time. In other words, if two or more bids are for the same price, the higher quantity will take precedence. If two or more bids are for the same bid price and bid quantity, the time the bidder placed their first bid on that lot takes precedence.
For example, lets say we auction four computers at an online auction and there are initially two bids: one at $100 for three computers and one bid at $100 for one computer. If a new bidder bids $120 for one computer, that bidder becomes the highest successful bidder, leaving three computers to assign to lower priced bidders. The bidder at $100 for three computers will remain successful because of greater quantity. The bidder at $100 for one computer will be bumped from the successful list. If both these bidders had bid for two computers, then the bidder with the earliest initial bid will remain successful. Therefore, it is important to get your bids in early to help you win in a tie
Its quite fun really!!
Oh - and please dont accept emails from me at the moment...I have a virus which is playing havoc with my PC and Connection...which is why I havent replied to emails as yet.
Yes R2 - I know, I should of had AVG, but somehow I have it on all the work PC's and neglected my own.
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