My Favorite Type of Internet Auction

There are many different types of auctions including a sealed bid, a Dutch descending, and of course the ascending type used on eBay and Astromart. Some auctions are live in person events and some are remote via the internet.  Many remote auctions include a time element which is not an issue with live auctions.  If someone really wants an item in a live auction, that person is able to outbid others until winning the item or deciding the cost has moved too high.  But with remote timed auctions, and this has probably happened to anyone who has bid on very many timed internet auctions, the time runs out before one can post a higher bid for a desired item.  One auction site I follow is the Bring-A-Trailer vehicle auction site for vintage and classic vehicles.  It is a timed auction, 7 days being the time allowed for each auction, but to prevent bid sniping as it is called, in the final 2 minutes of bidding, the clock resets to 2 minutes whenever a new bid is received.  This ensures that every bidder has the chance to bid on any item until personally deciding to stop bidding on it.  It also ensures the seller gets top dollar for the item.  I find they type of internet auction to be my favorite style of remote auction.

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Herb

Herb,

I didn't know that.  Very cool auctions then on both sites.

Jon